Home >

Behind The Financial Crisis May Be The American Cultural Crisis.

2008/10/18 10:16:00 24

??? 日本語 Fran?ais English 中文

The rally in the US stock market ended only for a day, even more worrying about the Dow Jones index's upper and lower limit by more than 700 points.

Some analysts believe that there seems to be a big divergence in the US economy after the bailout.

As the saying goes, to save the poor and save the poor, many people worry that although the emergency rescue can slow down the impact of the financial turmoil for a while, if it carries a heavy financial burden, it will cause more serious risks.

"The practice of the US government, including the practices of governments in various countries around the world, is understandable."

Today, Zhao Xiao, a professor at the school of economics and management at University of Science and Technology Beijing, thinks that the deeper problem is that the economic crisis in the US is probably behind the cultural crisis in the United States.

He said that the United States spent 40 years teaching their pilgrims to consider selling debt, which shows that the culture and lifestyle of the United States today are very different from those of the past, mainly in individualism, hedonism and irresponsible consumption.

But America's own savings rate is too low, and it relies entirely on US dollar hegemony.

There is a saying in China that "it is always worth paying for it."

This Wall Street financial crisis means a challenge to the American way of life.

Then, the crisis in the United States triggered a global crisis and began to affect the real economy of the United States. The automobile industry was the first to bear the brunt. Why did the first fall not the automobile industry?

Automobile industry in the United States has become a financial industry to a large extent. Its consumption or sale mainly depends on consumer credit, rather than traditional selling and after-sales service.

Many large US automakers earn 60% to 80% of their profits through automobile finance.

There are many disputes about whether to rescue the market during this period. Many economists have suggested that when we talk about the US issue, the two words, including the US media and our media, are not completely accurate.

Bailout is an effect, but in fact, the government plays an investor role in investing taxpayers' money.

When the crisis is over, it is likely that these investments will make money for taxpayers.

Therefore, if we take some taxpayers' money to complete the value investment of China's stock market, will it have a better result?

Zhao Xiao believes that such a possibility should be considered.

In those days, the Hongkong government jumped to the market to buy a large number of stocks and invest in the fund. Recently, the US government jumped to the market to save financial institutions, and at the same time saved the entire financial crisis.

Zhao Xiao analyzed that the financial crisis started to be a virtual crisis, and then gradually saw the real crisis.

At first, we see the crisis in the United States, and then we will see the crisis in Europe and Japan. Then we will see that the crisis will extend from developed countries to developing countries, especially the emerging market economy closely related to developed countries.

In addition, we will see that the financial crisis from some surface areas extends to a deeper level, for example, the international financial system, the international trading system and even the pattern of international economic growth.

As for countermeasures, it is estimated that the United States may further reduce taxes and stimulate consumption. It is also possible that the US dollar will further depreciate and stimulate US exports. It is also possible to continue to expand the government's fiscal deficit and let the US economy tide over difficulties.

It is easier for the Democratic Party to adopt such a policy to increase subsidies for the poor.

A magazine in America published a picture of the economic crisis in 1929. It says that there is no way of life in the world better than the American way of life.

Now that the financial crisis is developing, no American officials or economists have publicly stated that the United States should give up its old way of life.

Zhao Xiao agreed, this is just a satire.

(Jia Xiao)