I failed the college entrance exam, but after listening to advice, I became the richest person in th

Xu Jiao and Xu Lin couldn't help but roll their eyes:

"We are aware of negative interest rates!"

"Negative interest rates refer to the interest rate on excess reserves, which is the negative interest rate on the portion of funds deposited by banks with the central bank that exceeds the statutory reserve requirement."

The required reserve ratio consists of two parts—

1. Required deposit reserves

(This is mandatory)

2. Excess reserves

(This is voluntary)

Banks deposit their idle funds with the central bank, and the central bank pays them interest. If the central bank wants funds to flow into the market, it will lower the interest rate on excess reserves.

That is to say,

[Reserve requirement ratio cut]

Japan's negative interest rate refers to the fact that the interest rate on excess reserves is negative, forcing banks to spend their own money.

Don't deposit it with the central bank!

Stimulate economic development.

For ordinary people, interest rates are positive and can never be negative, so how can you get money back after taking out a loan?

Are you still half asleep? (→_→)

Interest is a major source of revenue for banks!

However, in order to stimulate economic consumption, Japan has really low interest rates, with mortgage rates as low as 0.5%, which is outrageous.

The highest annual interest rate will not exceed 1.5%!

Of course, this is a mortgage loan. Commercial loan interest rates are higher, especially for loans to foreign investors.

However, the annual interest rate is generally no more than 3%!

Jiang Feng's loan had an annual interest rate of 2.2%, which was considered quite favorable, but it didn't matter, as all the interest would be paid by Warren Buffett's son.

╮(╯_╰)╭

He took his parents, grandparents, Su Meng, Xu Jiao, and Xu Lin to Costco to buy seasonings, vegetables, and fruits, mainly just browsing around.

The best way to understand a country's customs and culture is to go to a supermarket. You'll see all sorts of people, and the prices and supply of goods are all clearly visible and very intuitive!

Costco, also known as Costco supermarket, is a very well-known supermarket chain in the United States, especially in California, and is famous for its "good quality at low prices".

Their motto is: Good quality at a reasonable price!

Watermelon $6.99 each

Bananas $1.99 per bunch

Milk $2.79/barrel

Coke $0.59/can

Beef $5.99/lb

Pork tenderloin $1.99/lb

...

Li Shuhua, the mother, exclaimed in surprise, "Wow, prices in the US aren't that high! Many things are even cheaper than in China."

"Pork costs more than ten yuan per kilogram."

"Beef costs forty yuan per pound."

"Bananas cost over ten yuan a handful."

Su Meng explained with a smile, "Mom, California is the largest agricultural state in the United States, so agricultural products are very cheap."

"It's said to have an annual output value of 600 billion US dollars!"

"California contributes one-third of the United States' vegetable production and three-quarters of its fruit and nut production."

My parents nodded in realization.

"California's agriculture is so developed?"

Jiang Feng added: "Not only agriculture, but California is also very strong in both high-end and low-end industries. The world-famous Silicon Valley is located in California, which is the center of technological innovation in the United States."

"Southern California has Hollywood Studios."

"It is the world's most famous film city."

"Stanford University, University of California, Caltech, and so on are all world-renowned universities."

“Stanford, in particular, is ranked among the top three in the world. Tsinghua graduates are the most eager to apply for Stanford graduate programs.”

"California's GDP is a staggering $3.1 trillion!"

"Equivalent to the world's fifth largest economy."

"Moreover, California is rich in gold and has huge oil reserves, making it the core of the gold rush and westward expansion."

My parents and grandparents were all amazed. This place is truly amazing! It's a place chosen by heaven!

Jiang Feng paid the cowboys a monthly salary of eight thousand US dollars, which seemed high, but it was actually just average, only slightly high.

Last year (2019), the average annual salary in California was $66,700, while the annual household income in the San Francisco Bay Area was over $100,000!

It's roughly the same as domestic RMB income.

Monthly salary in China: several thousand RMB

A few thousand dollars a month in California

in other words--

That's equivalent to buying beef for six yuan per pound, pork for two yuan per pound, and a bottle of cola for a few cents in China.

Buy a Mercedes or BMW for tens of thousands of yuan!

Buying a new iPhone in China might cost two months' salary, but in California it only costs one week's salary.

but!

Americans are known for their extravagant lifestyles; they spend as much as they earn, and no matter how high their salary is, they can never have enough.

(￣へ￣)

The closest things between the US and China are food, labor costs, and medical expenses; you can simply exchange RMB for USD.

A simple meal costs around a hundred dollars!

Calling a repairman will cost two or three hundred dollars!

A casual medical check-up can easily net you hundreds of dollars!

When it comes to food, Costco has two very famous products that have never increased in price and have been sold for decades.

$1.5 hot dog

$4.99 roast chicken

"At Costco, the hot dogs are huge at $1.5, and the roast chicken is $4.99. The taste is just average, but it's really cheap! Let's try it!"

Xu Jiao and Xu Lin each bought one.

These discounted items are of course limited in quantity!

A membership card is required.

$120/year

Both sisters got membership cards.

After finishing her shopping, Xu Jiao casually remarked:

Prices have gone up quite a bit lately!

"Even Costco has raised prices, so other supermarkets must be raising them even more, as the pandemic is getting more and more serious."

"It has already affected the supply of materials!"

What was said in jest was taken seriously by Jiang Feng. He beckoned to Doug, who was secretly protecting him from behind.

He was ordered to contact the purchasing department.

Seasoning sauce

Grain and oil products

Daily necessities

...

In addition, it is now springtime, so you can cultivate your own land to grow vegetables, fruits, and grains.

Food you grow yourself is safe to eat!

The group returned to Leggett and fished in the river by the roadside. Jiang Feng reminded them, "You need a permit to fish outside."

"And it's limited edition—"

"For example, you can only catch two California bass."

"More than one violation will result in a $1,000 fine!"

"In serious cases, detention may be imposed."

"We'll just fish for Asian carp."

Caroline helped carry the fishing gear.

He shook his head and laughed, "If they were from out of town, they might actually be fined, but we are locals after all."

"We all know each other well, so there's no need to worry too much."

"The United States is also a society based on personal relationships."

Doug confidently joked, "Boss, all that tax we've been paying lately hasn't been for nothing!"

"In the United States, whoever pays taxes is God."

"The civil servants in the town's police station and administrative departments all depend on us for their livelihood, so they have to distinguish between the big and small officials."

Jiang Feng raised an eyebrow. That's true!

Fuck, I've been paying a lot of taxes lately. Even though Myers & Partners did everything they could to help me avoid taxes, I still had to pay tens of millions of dollars in taxes, and hundreds of millions of dollars every year in the future.

The main source of income is the rent from the oil fields, which is subject to taxation.

25%

The tax rate on wine sales is also quite high!

渔场

farm

import

exit

consumption

Wait, all of these require taxation!

The town's funding comes entirely from taxpayers' money; the United States doesn't have a government safety net, and each state and county manages its own finances.

Without taxpayers, all police officers would be laid off!

Grandpa Jiang Zhenshan earnestly reminded him, "Well, we are, after all, from out of town. It's very necessary to maintain good relations with government departments. In my opinion, why not donate some funds to the police station?"

"My dear grandson, what do you think?"

[Donate to police station funds after being advised]

In the United States, if you're willing to spend money, the police station is practically your private property, and you can solve a lot of problems.

Holy crap, even the system said so!

Is there even a need to consider that?

Jiang Feng asked the cowboys, "Who's the closest to the sheriff? Tell him to come to our farm sometime!"

.