When Roosevelt's secretary walked into his office, her face was slightly flushed. Seeing Roosevelt's low spirits these past few days, she had specially worn sexy lingerie and sprayed a more seductive perfume, wanting to properly serve her beloved man. But upon entering the office, she saw Roosevelt's expression was extremely grave, a look she had never seen before.

From his youth, Roosevelt had been a "hell-raiser," defending gangsters as a lawyer. He chatted and laughed with those murderous mobsters, never knowing fear. Even though the secretary had only started working by Roosevelt's side during the final phase of that period, the Roosevelt she saw always had light in his eyes. Even disability hadn't been able to extinguish that inner flame.

But now, Roosevelt's gaze was heavy. Even if there was still fire in his heart, the sky within Roosevelt's heart seemed to be made of stone, blocking out that light.

Standing at the door, the secretary felt there was no space to release the passion in her heart. Even though only Roosevelt was in the office, the air seemed like hardened concrete, leaving no room for anyone else.

Roosevelt waved his hand at the secretary. She wanted to step in, but seeing him wave again, she could only retreat and close the door. She stood blankly at the door, at a loss.

Seeing that he was finally alone in the room again, Roosevelt turned the wheels of his wheelchair and went to the bookshelf. A bottle of liquor sat in the corner of the shelf. Roosevelt picked up the bottle, didn't bother with a glass, uncorked it, and took a large swig. The recent economic news was completely unexpected. Contrary to the views of those economists, the US economy was extremely fragile—unexpectedly fragile. When the government stopped driving the economy, the capitalists not only didn't expand production but rapidly sold off stocks, preparing to hold cash for the winter.

With US stocks falling more than 30%, Roosevelt had to consider one thing. Perhaps his view of the US economy was wrong from the start. The US economy hadn't encountered a temporary problem but had truly reached its ceiling. The New Deal could stimulate the economy through fiscal deficits, but it lacked the ability to save the US economy.

Taking another swig from the bottle, Roosevelt felt a heat resembling courage surge in his chest. Roosevelt didn't lack courage now; he hadn't had the slightest fear since disability accidentally fell upon him. Just as he had told others: "The only thing we have to fear is fear itself—nameless, unreasoning, unjustified terror which paralyzes needed efforts to convert retreat into advance."

Actually, this sentence wasn't originally created by Roosevelt. Bacon had summarized it: "We only need to fear fear itself, eliminate the fear of ignorance, shatter feudal superstitious thoughts, and cut off the neurotic, blind practices born of nothingness; to obtain freedom in the true sense, freedom of thought, and even freedom of action."

Roosevelt now admitted that the New Deal probably couldn't fundamentally solve America's economic problems. Early on when formulating the New Deal, Roosevelt had discussed this possibility with economic experts. At that time, most American economists dared not or would not answer this question. Only Professor Veda from the Rockefeller Company bravely answered: "Mr. President, everything is relative. Even if the New Deal fails, it doesn't matter. As long as the New Deal can still regulate America's social contradictions so that the US doesn't *have* to choose the path of war, those countries with weaker economic strength than the US will be the first to be unable to hold on and start a war. As long as the US intervenes in the war later, it can profit from others' wars."

This viewpoint truly shocked the room and left a deep impression on Roosevelt. Later, Roosevelt had people carefully investigate Professor Veda. The professor's academic and career history in the US was no different from other American economists, except that he had studied in the Political Science Department of Northeast University in China from 1932 to 1933, obtaining a doctorate in Geopolitics. That is to say, Professor Veda's view of the world was "Made in China."

Years passed, and Roosevelt often recalled this matter. The changes in the world were highly similar to Professor Veda's judgment years ago. The New Deal had alleviated America's economic problems so far, while other countries were falling into deeper crises. At least in Europe, the clouds of war had appeared, creating opportunities for the US to intervene in others' wars.

Now, the only thing Roosevelt had to be sure of was: should he admit that the New Deal couldn't fundamentally solve the problem? Roosevelt had thought about it for days, and at this moment, he made the decision to admit this situation.

After making the decision, Roosevelt felt his heart filled with immense regret and loss, but he pressed the electric bell button to summon the secretary. Releasing the bell, Roosevelt raised the bottle and took another swig. Just as he corked the bottle, the door opened, and the secretary walked in as if she had never left.

While putting the bottle back in its place, Roosevelt ordered, "Call Mr. Hull and have him come to see me with Professor Veda."

The secretary quickly dialed the phone. Even as Roosevelt's hand gently stroked her waist, the secretary's voice was completely unaffected. She quickly confirmed that Secretary of State Hull and Professor Veda could arrive in over an hour.

Hearing the report, Roosevelt ordered, "Lock the door and draw the curtains."

The secretary gave Roosevelt a sweet smile. After completing these tasks, she unbuttoned her jacket. Under the dignified jacket was sexy lingerie worn by showgirls. Seeing Roosevelt's eyes light up, the secretary cast aside her outer garment and squatted down in front of Roosevelt.

***

Professor Veda had been prepared since seeing the latest US economic data. There wasn't any special news; Professor Veda just felt he should prepare. So, an hour after receiving the call, he arrived at the White House in the same car as Secretary of State Hull.

He had expected President Roosevelt to have bloodshot eyes and an anxious expression. But unexpectedly, the President was neatly dressed, as if he had just tidied up. Although his gaze was serious, his cheeks were rosy, showing no sign of being crushed by the current situation. Professor Veda admired such heroic spirit in his heart.

When the President explicitly asked about the current world economic situation, Veda answered without concealment, "Mr. President, there are two countries that most want to disrupt the European situation: Germany and the Soviet Union. The Soviet economy looks good, but I believe the Soviet Union is even more dangerous than Germany. Because Germany started rebuilding its military in 1933, while the Soviet Union began fully developing heavy industry in 1928. According to the intelligence we've collected, the best industry in the Soviet Union is the military industry, followed by agriculture, and the worst is light industry. Because China exports a large amount of light industrial products, the Soviet Union can invest more resources into the military industry. If things develop according to the current situation, by 1943, the Soviet Union will possess the strength to challenge all of Europe."

Perhaps having admitted the limitations of the New Deal, Roosevelt felt like a sage at this moment, easily accepting Professor Veda's view without the inner conflict he used to have.

Professor Veda glanced at the solemn-faced Secretary of State Hull beside him and continued to expound his views. "Mr. President, we absolutely cannot wait until 1943, nor can we wait for the Soviet Union to make a move. Because the Soviet Union lacks the confidence to start a war, and also lacks the urgent psychology to do so. Therefore, as soon as any probe by the Soviet Union meets resistance, they will choose to stop. Britain and France, as the biggest beneficiaries of the Versailles System, have no internal need to start a war. At this time, the most favorable choice for the United States is to continue expanding support for Franco. Create a geopolitical environment for Germany to start a war. On this matter, I want to congratulate the government. From the beginning, using the excuse that the Soviet Union participated in the 1931 revolution that overthrew the Spanish King, it expressed strong dissatisfaction with the Soviet Union and subsequently implemented a military embargo on Spain."

Secretary of State Hull couldn't help but sigh inwardly. The United States itself was a democratic country, but since its founding, it had basically supported monarchs of various countries. So much so that after China gained a certain amount of influence internationally, Chinese scholars mocked the US: "Perhaps out of nostalgia for 'Founding Father' Louis XVI and 'Godfather' Napoleon I, the United States has become a friend of monarchs. Of course, this is a joke. The US supports autocratic monarchs to obtain maximum benefits from revolutions in other countries—worthy of the traditional skills of the Anglo-Saxons."

It was clear that Professor Veda was preparing to continue displaying America's traditional skills.

Professor Veda continued, "At this stage, American merchants have already provided a large amount of support to Franco's Nationalist forces. I believe we should increase support to let Franco achieve victory as soon as possible, forming a Fascist encirclement of France."

Roosevelt asked, "Does China have a need for war?"

Professor Veda's eyes lit up. He had seriously studied the Chinese economy in recent years and had quite a few insights. That the President could prioritize the China issue showed his very high strategic level. After organizing his emotions, Professor Veda replied, "China's economy is far less stable than it appears. According to the economic theory proposed by Mr. He Rui, the economy is divided into three cycles: short, medium, and long.

The short cycle is usually 3-5 years, determined ultimately by the completion of an economic cycle through changes in inventory and investment.

The medium cycle is usually 8-10 years, determined by the end of an economic cycle through equipment replacement and capital investment.

The long cycle is 40-60 years. Let's not discuss the long cycle for now. Looking at the medium cycle, China started two medium cycles in 1924. Through domestic asset restructuring and cooperation with France, the Chinese government completed equipment replacement and capital investment. By 16 years later, which is 1940, Chinese consumer power will be unable to digest the product explosion brought by these two cycles. It is bound to fall into an economic crisis.

If looking from the Sino-French economic cooperation in 1928, 8 years after the start of cooperation, although China has opened up the Soviet and French markets, the output of China's light industrial products has also exceeded the capacity of the domestic and foreign markets that Mr. He Rui strove to create. Large quantities of unsold light industrial products have begun to appear in China. The situation where production and sales were both booming has turned into the fierce internal competition of price cuts we commonly see. The profit margin of light industry has plummeted. By 1939 at the latest, a large number of Chinese light industrial enterprises will go bankrupt.

Therefore, both Japan and China have begun to increase investment in heavy industry. But the more developed heavy industry is, the greater the output of light industry. The situation of bankruptcy in China's light industry will not disappear but will intensify. Light industry provides the largest number of jobs in the industrial system. A crisis in light industry is a national employment crisis. I believe Mr. He Rui will definitely consider starting a war. However, his timing is hard to determine. According to estimates based on economic data, the pressure of China's economic crisis will peak between '40 and '42.

Regarding China, my view is that China will join the war earlier than the United States. And if China joins the war, it will inevitably encroach upon Southeast Asia. This is very favorable for the United States."

Hearing this, Roosevelt already had a general judgment of the situation and asked, "Do you think strengthening forces in the Philippines at this stage is very beneficial to the US?"

"I believe the Two-Ocean Navy Act proposed by Congressman Carl Vinson of the Naval Affairs Committee is very beneficial to the current United States. The East Asian Alliance is building ships on a massive scale; this is the best excuse. There is a Chinese brigade in Spain. This brigade has strong combat effectiveness, and its commander is a Chinese officer. Is there a possibility that this is China sending regular troops to join the Spanish Civil War?"

Roosevelt smiled faintly. The powers of the world knew very well that Italy and Germany had already entered the fray bare-chested. Italy maintained a force of about 70,000 in the Spanish Civil War, and Germany's Condor Legion had over 10,000 men, providing Franco with equipment like planes, cannons, and tanks, as well as military advisor support. If one only criticized China, it would be seen as supporting Germany and Italy, and showing hostility towards China and the Soviet Union. Politicians had plenty of ways to deal with this. Roosevelt's brain moved for two seconds, and he already had an idea.

This matter needed to be discussed with Secretary of State Hull in a moment, while Professor Veda's job was to analyze international economic problems. Roosevelt continued to ask a question, "The government purchased a large amount of German bonds in '34, and practically interrupted the import of German goods last year. Now, whatever technology Germany wants to buy, just sell it to them. The earliest large batches of Mefo bills will enter the redemption period starting in 1937. By 1939, Germany's debt will max out. At that time, the money Germany scrapes together by borrowing new to repay old will only be enough to maintain its military industry and army; they won't be able to borrow money from the international market at all. That will also be the time when the United States demands Germany repay its debt."

Roosevelt nodded; enough had been said. The data obtained by Professor Veda, the US government had long obtained. Just three weeks ago, the US Treasury Secretary had reported to Roosevelt with worry that Germany would have no ability to repay the US by 1939, asking if they should find a way to negotiate with Germany now about debt repayment. Now it seemed the Treasury Secretary didn't need to consider foreign affairs and could concentrate on the domestic economy.

Having sent away Professor Veda, Roosevelt discussed the issue of the International Brigades' Chinese Brigade with Secretary of State Hull. Hull was considered a "Dove" internationally, so he quickly came up with an overall idea. "Mr. President, we issue a statement. At the very beginning of the statement, mention the attitudes of Italy and Germany in a couple of sentences, then focus on describing the impact of the International Brigades on the Spanish Civil War. Precisely because of the International Brigades' participation, the intensity of the Spanish Civil War has increased, casualties have increased, and the war continues to escalate.

Only when foreign forces led by the International Brigades leave Spain can the two sides of the civil war calm down. Only then can the international community, led by Britain and France, have a chance to mediate.

What do you think?"

"Hull, you really are the most excellent Secretary of State I have ever seen," Roosevelt praised sincerely.

According to Hull's speech, the International Brigades must leave Spain first, followed by Anglo-French mediation. Judging from the current situation, the most combat-effective force in the hands of the Spanish Republican Government was the International Brigades.

As for Anglo-French mediation, as a descendant of Anglo-Saxons, Roosevelt had already seen the future, as if those futures had already happened before his eyes. To avoid being dragged into the war themselves, the most mediation Britain and France would do was publish a few innocuous statements; they would never send troops to intervene.

As long as the US kept letting Secretary Hull express the aforementioned view, the future described by Professor Veda would inevitably appear. The US didn't even need to continuously target the Chinese Brigade in the International Brigades. The 15th International Brigade was mainly composed of British, Americans, Canadians, and Irish. After mentioning China, the US could also "smear" itself, bringing up the 15th International Brigade. Emphasizing that citizens of Britain, the US, Canada, and Ireland appearing on the battlefield of the Spanish Civil War as part of the International Brigades would make these peace-dedicated nations very embarrassed. Only by eliminating the embarrassment and clarifying their stance could these countries truly promote peace.

For the Great Powers, they very likely understood the meaning behind this kind of speech. But what needed to be convinced now wasn't the Great Powers, but the Spanish Republican Government. Based on intelligence collected by the US, very few people within the Spanish Republican Government could understand the cruelty of international politics. Even if the few within the Republican Government understood the cruelty of international politics, they didn't understand the subtleties of the Great Game of geopolitics. If those few people in the Spanish Republican Government really understood geopolitics, they would have wiped out the Francoist rebels long ago. Or even, this rebellion wouldn't have happened.

Hull received his orders and left to start preparing the diplomatic speech and subsequent diplomatic operations. Roosevelt looked at the desk clock; it was already 4 PM. The President decided not to work anymore today, but to rest—rest well. The secretary had just hinted that her underwear was a full set. Roosevelt wanted to see the full set, relax fully, and be satisfied.

Under the heavy pressure of state affairs, Roosevelt needed to relax, needed to be satisfied. Because the job of the American President was to satisfy the needs of the entire United States. If Roosevelt himself stopped moving forward under the heavy pressure, he couldn't fulfill his responsibilities as President.

Although deep in his heart Roosevelt felt a little bit of unease because he could no longer truly satisfy the secretary. But Roosevelt firmly believed that when the secretary satisfied Roosevelt, her heart was also satisfied. That was enough.