Brilliant essay on virtual currency
Publish: 2021-04-27 11:01:40
1. Currency war and RMB strategy (2)
2006-03-07 13:29:45
explain the formation mechanism of exchange rate and U.S. currency strategy in as popular a language as possible
first of all, because of the quarrel all day last month, I didn't say much about what I wanted to say. Some people asked me if I had a more serious vest, so I had this one, and there were also quarrels, It's about bad men. I believe those who have some intelligence can see it. So this vest doesn't fight. That one is specialized in fighting. If you have something to do, go to that one
some nerds recite a lot of definitions when they talk about exchange rate, but that's useless. It's just like saying market winning rate in the stock market. It's all boring tricks. The exchange rate is a game between big countries, which is no different from that of a banker. Some people may say that the daily trading volume of currency is so large, how to manipulate it? You think that the most stupid way to run a business is to rely on money. Manipulation is only manipulation of people's minds. As long as someone can manipulate it, it's strange that they don't understand this in the financial market and don't lose money
the United States is a master of exchange rate manipulation, but the manipulation of exchange rate serves its overall interests. The biggest crisis facing the US economy is the bubble. The savings rate below 0 in the United States has made its economic risk to an unprecedented level. To some extent, the U.S. stock market has been playing extremely cold. Like Zhuang, the key now is not to let a large number of capital escape, otherwise it will continue to crash diving. Due to the rapid decline in 2000, most of the hot money can not leave the market effectively, so the large-scale capital flight has not yet appeared. However, the current large-scale rebound constitutes an opportunity for capital flight. Once the rebound is in place, the expected large-scale capital flight will really appear
in order to avoid the above situation, the only feasible monetary strategy of the United States is to devalue the currency to a corresponding position before the big rebound is in place, so that the US dollar capital can not escape at a higher exchange rate after cash out. To some extent, it is to add a set for us dollar capital at the level of currency, In this way, the determination and strength of US dollar capital to escape will be greatly reced. This is the only non war feasible way for the United States to prevent the collapse of the American economy
but the only way to solve this problem is that if there is a currency with a large capacity close to the US dollar, all calculations of the depreciation of the US dollar will not work, and the RMB is just such a currency. The link between RMB and US dollar provides a smooth escape channel for us dollar assets to be realized. The biggest advantage of the RMB economy than that of the US dollar is that the bubble is extremely low and the savings rate is very high, which is a fatal threat to the US economy. As long as the RMB strategy is adhered to and the pool is g well, the depreciation strategy of the US dollar will be completely destroyed. Once the strategy is destroyed, the US economy will face the greatest impact. This is also the realistic basis for predicting the world economic crisis in the 90 year cycle of 2019 in previous posts. The correct RMB strategy will speed up and deepen this process
to the illiterate left, use the most popular language to talk about the relationship between monetary growth and economic growth, as well as the criminal background of the US dollar
for ordinary people, it is probably very clear how the RMB in their hands came from. It is very simple, that is, it is printed, not grown or other ways. However, for RMB, there is only one place where it can be printed by law. If anyone has nothing to do, they should also be clear about what is waiting. Of course, printing RMB is different from others. There must be a standard. If it is printed like gold yuan coupon, you will have to use a big sack to buy rice. So here we can talk about the standard of printing
roughly speaking, the currency value can be regarded as the total amount of an economy divided by the total amount of money, that is to say, the currency value represents the economic amount of unit currency. Then, for a normal closed economic system, in order to maintain the stability of the currency value, the growth of currency must be equal to the economic growth, so that the currency value can remain stable. This is what people at the primary school level can know from the above defined proportional relationship. In other words, money printing should be based on the standard of economic growth. Once it breaks away from this standard, everything will be in a mess. However, in fact, there is no closed economic system. Once more than two economic systems communicate with each other, there will inevitably be the problem of currency value comparison between different currencies. Generally speaking, the latter, for example, how much is it compared with the RMB to the US dollar and so on. This kind of currency value is generated in the exchange between two different economic systems, which is essentially different from the currency value generated in the previous single system, Most people are confused by common sense
because there are different economies, there are different money printing centers, and these economies are connected. If there is a money printing center that is worse than its economic growth, it can be realized in the sense of the latter currency value, because this kind of money is widely recognized, that is, the so-called world currency, This realization is based on the exploitation of the interests of other economies. The US dollar is such a currency, because the US dollar is the quasi world currency, so it is all right, and more and more countries are responsible for it. This is a huge secret of the economic prosperity of the United States, but the problem now is that these printed dollars have exceeded the enrance of the whole world, and the dollar is just a beautiful bubble.
modern society is a global capitalist society, and monetization is its most important aspect. The invisible plunder of money is a super version of the former visible plunder of colonization. The US dollar is an ideological blood drawing machine and material base. But for the illiterate leftists, they do not know how they have been exploited by the United States. In fact, as long as the US dollar exists as a quasi world currency on this earth, anyone who is not in the US dollar system will be exploited by the United States. This is a real global enslavement< Speaking from Greenspan's sudden stance on the RMB and the huge US deficit, Alan Greenspan, chairman of the US Federal Reserve, said on Tuesday that China's central bank's purchase of US dollars to prevent the appreciation of the RMB may bring inflation problems to China in the long run. The corresponding news is that the US budget for fiscal year 2003 shows that the government deficit will reach US $450 billion, 50% higher than previously estimated. These two seemingly unrelated news are actually closely related
of course, Ge Lao is not ge Lao Tzu, but the idol of many famous people engaged in economy, but in my daughter's opinion, it's no better. Thanks to Mr. Gerrard's continuous mistakes since 1998, the US economy has finally reached its present level. I hope that if he continues to make blunders, China will be lucky. But this remark about RMB is not a blind move, it is part of the chorus of global RMB appreciation. As for this person, the main reason is the rotten economy of the United States. They know too well what the deficit of 450 billion US dollars means? And next year, the deficit will continue to increase greatly, and more ammunition will be prepared for the complete collapse of the US bubble. Of course, if other currencies appreciate together, the crisis can be passed on. But in this era, no one is more stupid than anyone else. Is it possible that the mess created by the United States will be carried by the whole world? It's just stupid who carries it
Japan's bubble has burst for more than 10 years and is still on the verge of death. What is better than Japan is that its savings rate has been very high, while the United States is below 0. This woman does not want to think about the wonder once the bubble is disappearing. At present, in addition to the original stock market and the virtual economy, it will increase the bond market and the real estate market to accumulate energy for the collapse. Needless to say, there are other related issues
the inevitability and historical significance of the economic collapse of the United States have been clearly stated in our sneezing vest, that is, the final end of 250 million economic level, the establishment after the great collapse, and then the beginning of 1.25 billion economic level. This is a new era
explain in the most popular language: what are the Japanese most afraid of at present
explain in the most popular language: what are the Japanese most afraid of at present? In a word, RMB and US dollar are firmly linked. In previous articles, it has been repeatedly said that the ultimate fate of the yen will be its demise, and a specific time has been given: around 2025. The title of the post is "in 2025, Japan has to face a choice: a state of the United States or a province of China." And the firm link between the yuan and the US dollar will make the bubble burst. The Japanese economy will be one disaster after another 10 years later. The Japanese know this better than anyone else. Therefore, in the global chorus of RMB appreciation, the Japanese are the earliest and most diligent
in the end, there are many ways for the Japanese to decouple the RMB from the US dollar. But the simplest way is to pour the Chinese people with ecstasy soup, and then the Chinese people will release the RMB themselves. It has been said many times before that under the objective situation that the US dollar is a quasi world currency, the liberalization of RMB and the decoupling of the US dollar are the same thing. However, the cunning Japanese will not actively clamor for the liberalization of the RMB, which is too obvious. Instead, they clamor for the decoupling of the RMB from the US dollar. In this way, the Japanese are more familiar with the study of the Three Kingdoms than the average Chinese
in order to achieve this goal, the Japanese can send their agents everywhere to publicize that the pegging of RMB to the US dollar will lead to the influx of international liquid capital into China in the same way as in 1997, which will lead to lies such as the crisis in 1997. However, globalization is the globalization of capital, and the flow of capital is extremely normal. But the Japanese and Americans are reluctant to tell you that the accumulation of capital is the ultimate destination of this kind of capital flow. This is the secret of the economic development of Japan and the United States, which of course can not be shared with others
in the simplest way, no matter how capital flows, there must be a place with the most precipitation, and now, this place is the United States. In other words, the most fundamental reason for the economic development of the United States is that the United States is the country with the most capital accumulation and precipitation. The only way for China to finally defeat the United States is to replace the United States as the country with the most capital accumulation and precipitation, which is the core driving force of change in the world economic pattern. It is not difficult to understand that accumulation and precipitation are first based on flow. Once this accumulation and precipitation of capital is finally formed, Japan will become China's first and foremost economic subsidiary, and then things will be easy to do. And that's the fundamental reason why the Japanese can't sleep
prevent China from finally replacing the United States as a capital accumulation and precipitation country
2006-03-07 13:29:45
explain the formation mechanism of exchange rate and U.S. currency strategy in as popular a language as possible
first of all, because of the quarrel all day last month, I didn't say much about what I wanted to say. Some people asked me if I had a more serious vest, so I had this one, and there were also quarrels, It's about bad men. I believe those who have some intelligence can see it. So this vest doesn't fight. That one is specialized in fighting. If you have something to do, go to that one
some nerds recite a lot of definitions when they talk about exchange rate, but that's useless. It's just like saying market winning rate in the stock market. It's all boring tricks. The exchange rate is a game between big countries, which is no different from that of a banker. Some people may say that the daily trading volume of currency is so large, how to manipulate it? You think that the most stupid way to run a business is to rely on money. Manipulation is only manipulation of people's minds. As long as someone can manipulate it, it's strange that they don't understand this in the financial market and don't lose money
the United States is a master of exchange rate manipulation, but the manipulation of exchange rate serves its overall interests. The biggest crisis facing the US economy is the bubble. The savings rate below 0 in the United States has made its economic risk to an unprecedented level. To some extent, the U.S. stock market has been playing extremely cold. Like Zhuang, the key now is not to let a large number of capital escape, otherwise it will continue to crash diving. Due to the rapid decline in 2000, most of the hot money can not leave the market effectively, so the large-scale capital flight has not yet appeared. However, the current large-scale rebound constitutes an opportunity for capital flight. Once the rebound is in place, the expected large-scale capital flight will really appear
in order to avoid the above situation, the only feasible monetary strategy of the United States is to devalue the currency to a corresponding position before the big rebound is in place, so that the US dollar capital can not escape at a higher exchange rate after cash out. To some extent, it is to add a set for us dollar capital at the level of currency, In this way, the determination and strength of US dollar capital to escape will be greatly reced. This is the only non war feasible way for the United States to prevent the collapse of the American economy
but the only way to solve this problem is that if there is a currency with a large capacity close to the US dollar, all calculations of the depreciation of the US dollar will not work, and the RMB is just such a currency. The link between RMB and US dollar provides a smooth escape channel for us dollar assets to be realized. The biggest advantage of the RMB economy than that of the US dollar is that the bubble is extremely low and the savings rate is very high, which is a fatal threat to the US economy. As long as the RMB strategy is adhered to and the pool is g well, the depreciation strategy of the US dollar will be completely destroyed. Once the strategy is destroyed, the US economy will face the greatest impact. This is also the realistic basis for predicting the world economic crisis in the 90 year cycle of 2019 in previous posts. The correct RMB strategy will speed up and deepen this process
to the illiterate left, use the most popular language to talk about the relationship between monetary growth and economic growth, as well as the criminal background of the US dollar
for ordinary people, it is probably very clear how the RMB in their hands came from. It is very simple, that is, it is printed, not grown or other ways. However, for RMB, there is only one place where it can be printed by law. If anyone has nothing to do, they should also be clear about what is waiting. Of course, printing RMB is different from others. There must be a standard. If it is printed like gold yuan coupon, you will have to use a big sack to buy rice. So here we can talk about the standard of printing
roughly speaking, the currency value can be regarded as the total amount of an economy divided by the total amount of money, that is to say, the currency value represents the economic amount of unit currency. Then, for a normal closed economic system, in order to maintain the stability of the currency value, the growth of currency must be equal to the economic growth, so that the currency value can remain stable. This is what people at the primary school level can know from the above defined proportional relationship. In other words, money printing should be based on the standard of economic growth. Once it breaks away from this standard, everything will be in a mess. However, in fact, there is no closed economic system. Once more than two economic systems communicate with each other, there will inevitably be the problem of currency value comparison between different currencies. Generally speaking, the latter, for example, how much is it compared with the RMB to the US dollar and so on. This kind of currency value is generated in the exchange between two different economic systems, which is essentially different from the currency value generated in the previous single system, Most people are confused by common sense
because there are different economies, there are different money printing centers, and these economies are connected. If there is a money printing center that is worse than its economic growth, it can be realized in the sense of the latter currency value, because this kind of money is widely recognized, that is, the so-called world currency, This realization is based on the exploitation of the interests of other economies. The US dollar is such a currency, because the US dollar is the quasi world currency, so it is all right, and more and more countries are responsible for it. This is a huge secret of the economic prosperity of the United States, but the problem now is that these printed dollars have exceeded the enrance of the whole world, and the dollar is just a beautiful bubble.
modern society is a global capitalist society, and monetization is its most important aspect. The invisible plunder of money is a super version of the former visible plunder of colonization. The US dollar is an ideological blood drawing machine and material base. But for the illiterate leftists, they do not know how they have been exploited by the United States. In fact, as long as the US dollar exists as a quasi world currency on this earth, anyone who is not in the US dollar system will be exploited by the United States. This is a real global enslavement< Speaking from Greenspan's sudden stance on the RMB and the huge US deficit, Alan Greenspan, chairman of the US Federal Reserve, said on Tuesday that China's central bank's purchase of US dollars to prevent the appreciation of the RMB may bring inflation problems to China in the long run. The corresponding news is that the US budget for fiscal year 2003 shows that the government deficit will reach US $450 billion, 50% higher than previously estimated. These two seemingly unrelated news are actually closely related
of course, Ge Lao is not ge Lao Tzu, but the idol of many famous people engaged in economy, but in my daughter's opinion, it's no better. Thanks to Mr. Gerrard's continuous mistakes since 1998, the US economy has finally reached its present level. I hope that if he continues to make blunders, China will be lucky. But this remark about RMB is not a blind move, it is part of the chorus of global RMB appreciation. As for this person, the main reason is the rotten economy of the United States. They know too well what the deficit of 450 billion US dollars means? And next year, the deficit will continue to increase greatly, and more ammunition will be prepared for the complete collapse of the US bubble. Of course, if other currencies appreciate together, the crisis can be passed on. But in this era, no one is more stupid than anyone else. Is it possible that the mess created by the United States will be carried by the whole world? It's just stupid who carries it
Japan's bubble has burst for more than 10 years and is still on the verge of death. What is better than Japan is that its savings rate has been very high, while the United States is below 0. This woman does not want to think about the wonder once the bubble is disappearing. At present, in addition to the original stock market and the virtual economy, it will increase the bond market and the real estate market to accumulate energy for the collapse. Needless to say, there are other related issues
the inevitability and historical significance of the economic collapse of the United States have been clearly stated in our sneezing vest, that is, the final end of 250 million economic level, the establishment after the great collapse, and then the beginning of 1.25 billion economic level. This is a new era
explain in the most popular language: what are the Japanese most afraid of at present
explain in the most popular language: what are the Japanese most afraid of at present? In a word, RMB and US dollar are firmly linked. In previous articles, it has been repeatedly said that the ultimate fate of the yen will be its demise, and a specific time has been given: around 2025. The title of the post is "in 2025, Japan has to face a choice: a state of the United States or a province of China." And the firm link between the yuan and the US dollar will make the bubble burst. The Japanese economy will be one disaster after another 10 years later. The Japanese know this better than anyone else. Therefore, in the global chorus of RMB appreciation, the Japanese are the earliest and most diligent
in the end, there are many ways for the Japanese to decouple the RMB from the US dollar. But the simplest way is to pour the Chinese people with ecstasy soup, and then the Chinese people will release the RMB themselves. It has been said many times before that under the objective situation that the US dollar is a quasi world currency, the liberalization of RMB and the decoupling of the US dollar are the same thing. However, the cunning Japanese will not actively clamor for the liberalization of the RMB, which is too obvious. Instead, they clamor for the decoupling of the RMB from the US dollar. In this way, the Japanese are more familiar with the study of the Three Kingdoms than the average Chinese
in order to achieve this goal, the Japanese can send their agents everywhere to publicize that the pegging of RMB to the US dollar will lead to the influx of international liquid capital into China in the same way as in 1997, which will lead to lies such as the crisis in 1997. However, globalization is the globalization of capital, and the flow of capital is extremely normal. But the Japanese and Americans are reluctant to tell you that the accumulation of capital is the ultimate destination of this kind of capital flow. This is the secret of the economic development of Japan and the United States, which of course can not be shared with others
in the simplest way, no matter how capital flows, there must be a place with the most precipitation, and now, this place is the United States. In other words, the most fundamental reason for the economic development of the United States is that the United States is the country with the most capital accumulation and precipitation. The only way for China to finally defeat the United States is to replace the United States as the country with the most capital accumulation and precipitation, which is the core driving force of change in the world economic pattern. It is not difficult to understand that accumulation and precipitation are first based on flow. Once this accumulation and precipitation of capital is finally formed, Japan will become China's first and foremost economic subsidiary, and then things will be easy to do. And that's the fundamental reason why the Japanese can't sleep
prevent China from finally replacing the United States as a capital accumulation and precipitation country
2.
Here are some classic materials. If they are used in composition, they will be of great help. The last passage is also attached with usage analysis. Don't thank me too much. Ha ha ~
[about bad money expelling good money]
in the era of large use of coins, when the legal coins that are lower than the legal weight or quality are called "bad money", they can be used in many ways, After entering the field of circulation, people tend to collect "good money", which is of sufficient value. As a result, good money is expelled from circulation, and only bad money is left in the market
When Ye Jiaying attended the first Du Fu academic seminar, she got to know Miao (MI), a writer with whom she had long been a god friend à o) Yue è， They have the same love for Chinese classical poetry, the same recognition of the exquisite quality of poetry, and the same care for the inheritance of classical poetry Their friendship lasted for 14 years until Miao Yue died. Two classical literary critics have jointly created two works on CI, Lingxi CI Shuo and ancient and modern CI studies. Ye Jiaying once wrote after the completion of Lingxi CI Shuo: "Zhuang Huihao and Liang Yu's Qin are rare bosom friends in the world At the age of three, Lu Yu was abandoned by his parents and adopted by Zen master Zhiji. He spent his childhood in the temple with morning bells and evening drums and blue lanterns. Zhiji hopes that he can get rid of the troubles of the world and become a monk. However, Lu Yu is determined to learn from Kong Sheng. They argue with each other. Therefore, Zhiji tests him with his humble work and wants to change his mindin his hard work, Lu Yu still did not forget to recite the books. The caretakers thought he was lazy and whipped him. He sighed: "the years are gone, I'm afraid I don't know his books". He couldn't help crying. After Lu Yu escaped from the Buddhist temple, Zen master Zhiji felt regret and made a compromise. However, Lu Yu declined his kindness. After some twists and turns, he learned from Mr. Zou and finally got what he wanted
[usage analysis]
is applicable to the determination to learn, cherish time, not afraid of hardship, adhere to faith and other ideas. Such as 2011 Anhui volume "time is passing". Example: Lu Yu's learning process was not smooth sailing. The Zen master Zhiji who adopted him didn't agree with his ambition to study Confucianism and set many difficulties for him, but Lu Yu didn't give in. He bravely left the Buddhist temple to pursue his dream. Sometimes the environment can't help us. When we are sad, we must not lose our original faith. We should bravely make changes and go down step by step. After the mountains and rivers recover, we can find the bright and dark
the above materials are all from the composition note app~
3. Financial crisis refers to the sharp, short-term and super cyclical deterioration of all or most of the financial indicators (such as short-term interest rate, monetary assets, securities, real estate, land (price), number of commercial bankruptcies and number of financial institutions bankruptcies) of a country or several countries and regions
1, The breakup of the economic bubble caused by the virtual economy is the main cause of the financial crisis. The subprime mortgage crisis is the trigger. The actual subprime debt is only 600 billion dollars, causing such a big financial crisis. It is all caused by people's psychological expectations. They will change their behavior according to the behavior of other investors. Theoretically, herding will aggravate market volatility and become the key to the success of leader behavior. In the following cases, Shaobing is the leader. In the real economy, the subprime mortgage is the leader
2. From the subprime mortgage crisis to the financial crisis, here is an original case: two people sell Shaobing, each selling 20 pieces a day (because the whole demand for Shaobing is only 40 pieces), one for one yuan, and the daily output value is 40 yuan, In clay oven rolls clay oven rolls clay oven rolls, clay oven rolls are sold in the form of bookkeeping. The price is constant. The volume of trading is 240 yuan per day. The virtual economy has proced
if the price of the baking cake is 5 yuan, the daily volume of the business is 1040 yuan. At this point, A and B will increase the market baking cake to 2 yuan. Some people have heard that the clay oven rolls are selling at 1 yuan for 5 yuan, and when the market is only 2 yuan, buy it quickly. - the bubble economy proces
baked cake can not be proced at once. On the one hand, a and B increase the number of pancakes (up to 100 or more per day), on the other hand, they sell pancakes, and they also start the transaction of issuing pancake bonds. The buyers buy pancakes with cash and mortgage loans. --- financing, financial intervention
some people want to buy pancakes, but they have neither cash nor collateral, A and B issued sub-prime pancake bonds and bought insurance from insurance institutions. --- sub prime bonds sowed seeds for the sub-prime crisis.
one day, they found that the pancakes they bought could not be eaten, and they had to store them in a place where they could not get moldy, so they quickly sold them, The clay oven rolls off the
even if the price is lower. The financial crisis has broken out. The burn cake shop has laid off (as long as 40 clay oven rolls are ready every day) - unemployment. Shaobing bonds have become waste paper: the subprime mortgage crisis
the mortgage loan (the collateral is worthless) can not be recovered, the liquidity crisis of loan banks, the bankruptcy of insurance companies, etc-- Financial crisis
3. In the process from subprime crisis to financial crisis, the financial leverage of financial institutions and the issuance and circulation of financial derivatives play a magnifying role
4. Deeper level
(1) the consequences of long-term accumulation of advanced consumption. For a long time, the United States has been in favor of over consumption, encouraging people to buy houses, cars and high-end consumer goods. In order to pursue high profits, banks issue credit cards to residents to encourage over consumption“ Use tomorrow's money for today's enjoyment“ Let the dream come ahead of time, let the dream come true“ Being able to earn and spend is the pride of the times. To put it bluntly, this kind of excessive consumption has also brought temporary prosperity in a number of years. But this kind of prepayment of future purchasing power is, after all, a "food for shelter", a bubble, a temporary boom with illusory colors. Once the economy is in recession, a large number of unemployed people will not pay their debts, and the ability of consumers to pay will drop sharply. The U.S. subprime debt will stand out in front of the world, banks will have bad debts, and some investment banks will face bankruptcy< (2) banks in the United States are burdened by high salaries. For a long time, the American banking instry seems to be "the son of heaven". Senior leaders are all well paid, with millions of dollars a year everywhere, and middle-class white-collar workers earn hundreds of thousands of dollars a year. For a long time, the banking instry has made a lot of profits e to the huge amount of loans, which has covered up the contradiction. Although it has paid high salaries year after year, it is still able to survive. Once the debtor is difficult to pay the debt, there will be a lot of bad debts, forming a triangle debt. At the beginning, the bank's turnover was poor, and then it suffered huge losses. So there were a lot of layoffs. If we think about it seriously, high salary means too much enjoyment of economic achievements and contains exploitation factors. In other words, it is a kind of stupid act of "fishing with all our efforts" and "killing the chicken for its eggs"
(3) there is a lack of emerging instries in the United States. For many years, emerging instries in the United States have led the world trend. Such as highway, automobile instry, aviation instry, electronic communication instry. For example, computer hardware, software and mobile phones were far ahead. While many countries were still in the embryonic stage, the United States had formed a large number of instries. However, in the past decade, these leading instries in the United States have been in a state of hesitation, while many countries in the world are catching up rapidly. The electronic instries such as computers and mobile phones are developing rapidly, and the advantages of the United States are relatively weakened, or are graally losing
"Rome wasn't built in a day.". The financial crisis in the United States has accumulated for a long time, which enlightens people to learn from it. We should base everything on the reality of our own country and do our own affairs well. This is also a good way to resolve the impact of the U.S. financial crisis on China
5. The financial crisis has affected the whole world. For China, some foreign exchange reserves have been lost, exports have been difficult, economic growth has slowed down, unemployment has increased, people's income has decreased, consumption has decreased, and the market is depressed. In serious cases, it will cause political instability. Compared with European countries (such as Detroit, the United States is already in a very depressed state), the financial crisis has not had a great impact on China, Because China's economy is separated from the international economy to a certain extent, China's RMB implements strict management under the capital account, and the impact of international hot money is small. Now that more than 70 banks in the United States are closing down, China's financial system is running well, and the economy maintains a certain speed of growth. At the same time, the country is also expanding the fiscal and recing the deposit reserve ratio, 400 billion to stimulate domestic demand and other measures. Now the RMB exchange rate has been lowered. If the implementation of various macroeconomic measures is effective, it will be about one year for China
1, The breakup of the economic bubble caused by the virtual economy is the main cause of the financial crisis. The subprime mortgage crisis is the trigger. The actual subprime debt is only 600 billion dollars, causing such a big financial crisis. It is all caused by people's psychological expectations. They will change their behavior according to the behavior of other investors. Theoretically, herding will aggravate market volatility and become the key to the success of leader behavior. In the following cases, Shaobing is the leader. In the real economy, the subprime mortgage is the leader
2. From the subprime mortgage crisis to the financial crisis, here is an original case: two people sell Shaobing, each selling 20 pieces a day (because the whole demand for Shaobing is only 40 pieces), one for one yuan, and the daily output value is 40 yuan, In clay oven rolls clay oven rolls clay oven rolls, clay oven rolls are sold in the form of bookkeeping. The price is constant. The volume of trading is 240 yuan per day. The virtual economy has proced
if the price of the baking cake is 5 yuan, the daily volume of the business is 1040 yuan. At this point, A and B will increase the market baking cake to 2 yuan. Some people have heard that the clay oven rolls are selling at 1 yuan for 5 yuan, and when the market is only 2 yuan, buy it quickly. - the bubble economy proces
baked cake can not be proced at once. On the one hand, a and B increase the number of pancakes (up to 100 or more per day), on the other hand, they sell pancakes, and they also start the transaction of issuing pancake bonds. The buyers buy pancakes with cash and mortgage loans. --- financing, financial intervention
some people want to buy pancakes, but they have neither cash nor collateral, A and B issued sub-prime pancake bonds and bought insurance from insurance institutions. --- sub prime bonds sowed seeds for the sub-prime crisis.
one day, they found that the pancakes they bought could not be eaten, and they had to store them in a place where they could not get moldy, so they quickly sold them, The clay oven rolls off the
even if the price is lower. The financial crisis has broken out. The burn cake shop has laid off (as long as 40 clay oven rolls are ready every day) - unemployment. Shaobing bonds have become waste paper: the subprime mortgage crisis
the mortgage loan (the collateral is worthless) can not be recovered, the liquidity crisis of loan banks, the bankruptcy of insurance companies, etc-- Financial crisis
3. In the process from subprime crisis to financial crisis, the financial leverage of financial institutions and the issuance and circulation of financial derivatives play a magnifying role
4. Deeper level
(1) the consequences of long-term accumulation of advanced consumption. For a long time, the United States has been in favor of over consumption, encouraging people to buy houses, cars and high-end consumer goods. In order to pursue high profits, banks issue credit cards to residents to encourage over consumption“ Use tomorrow's money for today's enjoyment“ Let the dream come ahead of time, let the dream come true“ Being able to earn and spend is the pride of the times. To put it bluntly, this kind of excessive consumption has also brought temporary prosperity in a number of years. But this kind of prepayment of future purchasing power is, after all, a "food for shelter", a bubble, a temporary boom with illusory colors. Once the economy is in recession, a large number of unemployed people will not pay their debts, and the ability of consumers to pay will drop sharply. The U.S. subprime debt will stand out in front of the world, banks will have bad debts, and some investment banks will face bankruptcy< (2) banks in the United States are burdened by high salaries. For a long time, the American banking instry seems to be "the son of heaven". Senior leaders are all well paid, with millions of dollars a year everywhere, and middle-class white-collar workers earn hundreds of thousands of dollars a year. For a long time, the banking instry has made a lot of profits e to the huge amount of loans, which has covered up the contradiction. Although it has paid high salaries year after year, it is still able to survive. Once the debtor is difficult to pay the debt, there will be a lot of bad debts, forming a triangle debt. At the beginning, the bank's turnover was poor, and then it suffered huge losses. So there were a lot of layoffs. If we think about it seriously, high salary means too much enjoyment of economic achievements and contains exploitation factors. In other words, it is a kind of stupid act of "fishing with all our efforts" and "killing the chicken for its eggs"
(3) there is a lack of emerging instries in the United States. For many years, emerging instries in the United States have led the world trend. Such as highway, automobile instry, aviation instry, electronic communication instry. For example, computer hardware, software and mobile phones were far ahead. While many countries were still in the embryonic stage, the United States had formed a large number of instries. However, in the past decade, these leading instries in the United States have been in a state of hesitation, while many countries in the world are catching up rapidly. The electronic instries such as computers and mobile phones are developing rapidly, and the advantages of the United States are relatively weakened, or are graally losing
"Rome wasn't built in a day.". The financial crisis in the United States has accumulated for a long time, which enlightens people to learn from it. We should base everything on the reality of our own country and do our own affairs well. This is also a good way to resolve the impact of the U.S. financial crisis on China
5. The financial crisis has affected the whole world. For China, some foreign exchange reserves have been lost, exports have been difficult, economic growth has slowed down, unemployment has increased, people's income has decreased, consumption has decreased, and the market is depressed. In serious cases, it will cause political instability. Compared with European countries (such as Detroit, the United States is already in a very depressed state), the financial crisis has not had a great impact on China, Because China's economy is separated from the international economy to a certain extent, China's RMB implements strict management under the capital account, and the impact of international hot money is small. Now that more than 70 banks in the United States are closing down, China's financial system is running well, and the economy maintains a certain speed of growth. At the same time, the country is also expanding the fiscal and recing the deposit reserve ratio, 400 billion to stimulate domestic demand and other measures. Now the RMB exchange rate has been lowered. If the implementation of various macroeconomic measures is effective, it will be about one year for China
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