On November 2, 2011, Harvard University about 70 students over economics' ten speak 'content' strike 'collective coming out of the classroom. They wrote letters to their professor...... Gregory Mankiw, even China's economy of worship scholars main-canal George. Mankiw...... Points out that: you taught in class of so-called rational expected number analysis method, intolerance and limited (the original for specific and limited), to our understanding of the knowledge of the more practical and vast a barrier. And, because the economics of education mode misleading and error, in the Wall Street a lot from students, headstrong, selfish indifference, should to five years the financial turmoil in the United States was the responsibility.

Standing on the local economic position is that if 'occupation of Wall Street' event is the American economics' Pearl Harbor ', then Harvard University students outside of class mankiw economics, is the American economics' 911 incident '. Harvard students came to realize the economic problems in the United States' local ', before is in the peripheral 'overseas' babies.

Similar 'landmark in the' actually began in 10 years ago, almost at the same time at Cambridge university in England and the United States at the university of Wisconsin, have happened to the economics of the western economics PhD collective MLB hats protest intolerance and machinery, based on individual scholars think that the mathematical research on economic enough to the understanding of the problems have no effect.

2008 years of the severity of the financial crisis, the queen of England inspection of the royal society, the first question is to come straight to the point, the world economy made so big problems, and why we economists without putting up a warning? Make all present big economists sails, also have no yan to!

2009 articles ZhangWuChang professor said: China's reform and opening up to 30 years of economic policy, all to make their own decisions, proved are all right; All listen to the advice of western economics, it turned out to be wrong. 'to get the Nobel most the United States, for example, more than 2000 essay on the crisis, not paper a convincing! '

In April, 2010, the world's financial markets GongWuBuKe almost unbeatable soros (seems to be the only 1997 Asian financial crisis did not attack during hk $way) published "beyond financial", declaring: western economics efficiency market hypothesis has been conclusive negative, put forward one's own two-way reflection theory hypothesis, and with most of my market practice do inspection.

Economic phenomenon of economic behavior by people, the economic behavior by the economic concept issued, economic idea from a person by the shape the conception of economics. A wrong economic philosophy, and is the source of the world economic crisis.

In 1892, the Japanese TianXiaoPing god the economics translated into 'economics', was a student back to China, China, mistakenly think that is can help China prosperity knowledge; In 1902, Evans yan fu "YuanFu", western economics began in China; 20 s, hu shi roc government submits a vernacular advocate, China local economics are thoroughly effectively locked in the MLB Jerseys han nationalities between TangJie; In 1979, the doors open, study abroad western learning 'economics' all the day, less than mastery, is seemingly or pretend to be' returning to China '; 1992 years' NaXun speech ', Chinese media are chafing need to explain 'market economy' people, driving a duck the results act, can do not have 'mix a face ripe' chance, gave birth to the stem 'economists', grasp the economic discourse, in fact from mistakenly mistake everyone! Because the assumptions of the so-called research and economics of real economic problems irrelevant! Mr. NaHuaiJin that in 2007 and the China banking regulatory commission contingent when 'directed at the heart' panel: the White House the doors into not go to, just look at the door a hope, eat a few years cold milk and bread, come back and said foreign moon good big, you know what?

In 1974 and 'opponents' hayek with the Nobel economics JiNianJiang, he said the Nobel Prize confused the other science awards economists' is a disaster', can make the economists swept, get beyond his research domain outside the discourse right, mislead the people and the world. Looks like today, unfortunately he did.

In revolution has started! In western economics is to interrogation harvard students! May be the object of revolt is after the teaching material of western economics samuelson's leader writers mankiw!

Posted by terminalcables at 10:01 PM EST

Share This Post

Post Comment | Permalink

The national development and reform commission antitrust bureau confirm, already of China telecom and China unicom in antitrust investigation. Reports say, find out the two companies in Internet access on market suspected of monopoly. If the facts established, the two companies or be in the billions of dollars to hundreds of millions of to a hefty fine.

Anti-monopoly law enforcement has for more than 3 years, has not been a company because monopoly and punished. If China telecom and China unicom really be fined, that will be the anti-monopoly law and the first since the tickets.

China's Internet users close to 500 million, China has become the world's largest Internet access service market. By rights, China's Internet access service should be able to get the best of the scale benefits. However, the national informatization experts committee recently issued in the 2011 years of Chinese China's information form analysis and prediction "report show that by the end of 2010, China's broadband Internet access global average rate ranking 71th, and less than the United States, Britain, Japan and so on more than 30 economic cooperation organization of the national MLB hats average level of the one over ten, but an average of 1 million net access fees per second of developed countries is the average of three to four times. That is, Chinese Internet users enjoy Internet access service not only 'ZhiLie' and 'price is high'!

China telecom and China unicom why dare to do so? Because they are on the monopoly status. In China's Internet access on the market, the two share more than two-thirds add up (there are also said more than ninety percent), and they also league hands to the existing competition between opponent of price discrimination, which does violation of anti-monopoly law too. Therefore, in after receiving reports, the state bureau of hair to antitrust investigation bureau is the responsibility of the legal start; If action isn't taken, but is not as a performance.

However, not a few net friend to the antitrust action a wait-and-see attitude or doubt. Some worry that the 'high lift' this only antitrust hand will ultimately 'gently down', some doubt this' WoLiDou 'type investigation will not' than ', someone with the question of whether the fined and bring benefits to consumers and hellip; & hellip; According to the relevant departments of the preliminary estimate, if can promote the market form an effective competition, the next five years to Internet prices fell by 27% to 38%, at least for consumers to save the cost of Internet service 100 to 15 billion yuan. However, this is just an effective competition for the premise vision just.

When asked if the facts establishment will how to deal with the two companies, the national development and reform commission antitrust bureau deputy director dubost says, 'in the annual turnover of more than a 1% to 10% fine', this means that a fine could be as high as hundreds of millions of and even billions of dollars. But, state-owned company was sent money is supposed to countries, at least most of the belong to the state. Moreover, if the fined after, the two companies still abuse of dominant market position, continue to stop other operators to enter the market, not lower the price, and improve the service, the anti-monopoly to consumers and what is the point?

In fact, deputy director of the punishment of the dubost what measure is not fully comply with the provisions of the law. Anti-monopoly law provided for in article 47: 'operators in violation of this law and abuse of dominant market position, the sunglasses shop anti-monopoly enforcement authority shall be ordered to stop illegal activities, confiscate the illegal income derived therefrom and concurrently impose a one percent sales last year for more than a fine of less than ten percent. 'original, a fine is a kind of auxiliary punishment measures, the main punishment should be "shall be ordered to stop illegal activities, confiscate the illegal income'. That is, the national development and reform commission antitrust bureau first should be ordered the two companies to fully the inter-communication and stop price discrimination, improve the service quality, reduce service prices. However, the national development and reform commission antitrust innings of his lifelong commitment just fine!

The antitrust fundamental purpose is to prevent and halt monopolistic ACTS, safeguard the interests of consumers, not to increase the incomes from fines and confiscations. Therefore, the national development and reform commission antitrust bureau in antitrust investigation should focus on promoting competition, and can't thinking of a fine.

Posted by terminalcables at 8:41 PM EST

Share This Post

Post Comment | Permalink

The national bureau of statistics in on October 18, 2011 economic data released, in the previous three quarters of 32.0692 trillion yuan GDP, according to the comparable price, an increase of 9.4%. Divide a quarter to see, quarter grew 9.7%, 9.5% growth in the second quarter, 9.1% growth in the third quarter.

From these data to see, economic growth is in constant deceleration process. That year of four trillion, also estimated to take over, so the growth rate drop down is very normal. The debt crisis, the United States economic drag, China is faced with difficulties in exports is heavy. Although China's economy in four trillion under the stimulus, once can maintain the high-speed growth, but this stimulation disappeared, economic growth speed also began to fall down.

Since 2011, the real estate market face difficulties. A city rising house prices have stopped, house prices have started to loose. A line of estate depreciate sales promotion, individual cut prices to a third. The bank also improve down proportion, MLB hats improve the mortgage interest rates and thus winter ahead of preparation. From the whole situation to see, the real estate market in 2012 will be facing a big difficult.

Economic stimulus policy, besides manufacturing inflation, but also lead to local government debt increasing. By the end of 2010, the local government debt has more than 10 trillion yuan. The national multiple high iron construction fund fracture, within the territory of guangdong province, deep and wide, south of tall your widely different degree of high iron appear to stop.

Although 2011 local government invested in security room, but also continue to push the high local government debt. Income from the local government is to be many major income, however, with the real estate market continuously came near the winter, developers to take initiative more and more low, leading to the local government of prime from shrinking revenue.

The real estate market problems that will inevitably affect the related industry. Globally, the demand for steel will be reduced. Domestic real estate market into winter, as less demand for steel. At the same time, affects not only the steel demand, for decoration industry, construction workers and so on, needs is also down sharply. In addition, several high iron to cease, and also affect steel demand. In the stimulus, that is already produce excess capacity, estimate the problem in 2012 will be more serious.

In 2012, China's economic growth rate will be further lowered. Because of the funds, which may have a lot of projects to start construction as scheduled or not can't accomplish duly investment scale. Expected, the yuan will continue to rise, this is very adverse to export. In the long run, the yuan appreciation to one us dollar may be the time to stop four RMB appreciation. Can say, the future of the export enterprise more and not do.

From all the signs to see, China's economy may be into the winter. China will change the past has long relied on the situation of export-oriented economy, positive start domestic consumption market. To solve the problems of domestic demand, basically not on stimulus, but in legal field to reform. I think the future direction of the reform, which is in the law environment. China in law environment field, may be said to be very bad. Therefore, to the NFL Jerseys rule by law perspective, establishing a domestic business spirit, to severely punish all kinds of fraud, including violates the contract spirit.

In fact, China's economy will face winter is not a bad thing, but is a turning point. From another Angle, this also is the good opportunity to correct the past mistakes. At the same time, also let people realized make stimulate the economy, and can't really solve economic crisis, but in a vicious among the bad.

If the future for a period of time, house prices will drop significantly, the ChaoFang people it is also a lesson. This tells people, house prices is not a only a don't fall things. If house prices in 2012 appear slump, this for many people is a good thing. For a house, it may damage was the house market value, but will not affect their living environment. To those poor people, who may have hope to own their own homes.

China's economy is only a correct understanding of the winter it is true, have a chance to spring, which again to summer. So, I think the official and the people learn to bear this winter, otherwise will never solve the problem.

Posted by terminalcables at 9:09 PM EST

Share This Post

Post Comment | Permalink

President Obama in the local time 13, the budget to congress election year. And according to a White House official said the budget will include a tax increase to the rich, at the same time, several hundred billion dollars used to create employment transfer of infrastructure construction projects, etc. Such a position clear budget, be outside as Obama obviously will this as republicans open front with the platform.

The Wall Street journal for the budget shows, the fiscal year of 2012 is the government's budget deficit up to us $1.33 trillion, and the gross domestic product (GDP) of 8.5%, including infrastructure spending billions of dollars. This deficit data more than 2011 financial year of 1.296 trillion dollars. And the congressional budget office previously expected, the fiscal year 2012 budget deficit for 1.079 trillion dollars.

At the same time, the U.S. is expected to fiscal 2013 budget deficit for 901 billion us dollars, accounting for 5.5% of GDP. The U.S. government is expected to last September, the fiscal year 2013 budget deficit is about $833 billion, or 5.1% of GDP.

2013 annual budget also stressed in the United States economy back to the safety of the recovery before orbit, the suspension of the sharp deficit reduction, this also is Obama seek re-election in November of a key. Of course, as well as puts forward the measures of the gap narrowing deficit, according to the budget, the U.S. MLB hats government will be allocated $800 billion for job creation and infrastructure project, of which more than $3000 from the beginning of the year will be used for tax cuts and other measures.

At the same time, Obama also again called on to the rich collection of minimum the tax rate of 30%, say the plan to in the next 10 years will be $4 trillion deficit gradually reduced. "I think is now widely agreed is, now is not the time crunch." The incoming White House chief of staff, jack-Lou last week said.

And Obama's budget is the control of the house of representatives, republicans called "not likely to be successful budget", and further the Obama is represented as only know that tax increases and spending liberals. Since always, all republicans warned that tax increases will kill jobs, to curb the growth of the national debt is no profit.

"We are working to reduce debt." The house budget committee chairman Paul Ryan says, "unfortunately, the President and his party leaders, and not for this process the hard part."

"This not serious budget, is causing debt, confused and backward formula." The speaker of the house, boehner's spokesman also said that, "for a small business tax increases, will cause the economy suffer, make huge debt piled up, cause economic more volatile."

Have analysis, it has become the Obama budget for November second term of one of the largest platform, he take this platform to the American public about the future of the viewpoint, and at the same time, to republican fashion NBA Jerseys into the party of the wealthy, and commitment to voters he will have to do more to protect the interests of the poor.

However, the poll shows, despite recent American economy has been a sign of gratifying, americans still don't know Obama's economic management, this also is currently the biggest problems facing the Obama.

The Treasury the latest data shows, along with tax revenue growth and government spending declines, January budget deficit of $27.41 billion, far less than the same period on fiscal year level. Meanwhile, in the past four months, the U.S. deficit of $349.15 billion, and less than the same period last year of 418.76 billion dollars.

Posted by terminalcables at 9:09 PM EST

Share This Post

Post Comment | Permalink

On Thursday, the U.S. stock market rise slightly, three big stock indices and a record high for many years. Greece has announced financial crunch scheme to reach a consensus. The United States for the first time last week applying for unemployment relief toll continues to decline.

Bryn Mawr Trust company portfolio managers chip-le corbusier said. "in the short term, we go some significant progress." He points out that after the stock market rise continuously, the dow closed at 2008 on Wednesday, May 19, a record high since, the s&p 500 index closed at 2011 on June 7, a record high since, the nasdaq closed at on December 12, 2000 a record high since.

Le corbusier said that the stock market rise is the background of the "good economic news than bad, the community to European problem of worries less."

Greek prime minister papanoida who season on Thursday announced summers, the Greek government and the lender the negotiations between the "victory in this morning over." Palmer MLB hats palmer season summers says, "go with the project, to give Greece 130 billion euro loan agreement to new financing."

And before this, Greece's main parties around the scheme in the days of debate.

Bryn Mawr Trust company that le corbusier, unless the Greek fiscal restraint agreements have been the European Union finance ministers approved, or Wall Street also won't rush to shout for joy. He said, "how many times we have realised, but eventually found nothing? I think, although in a very early stage, but they still should restore reason, and solve the problem."

Morgan Keegan company stock market strategy director Michael gibbs said, "Wall Street know that they will reach an agreement in a hurry. But among them there are still many undecided details."

Economic data surface, the U.S. labor department announced that in by February 4, week, for the first time explain get unemployed relief number for 358000. According to the survey, the average expected economists into 370000. The number of the previous week for 367000.

The Greek debt crisis is still the focus. According to the Wall Street journal says, the Greek prime minister spokesman said the Greek leaders have fiscal restraint to plan to reach a consensus. Greek finance minister jose whinny the pooh late Thursday night in Ross will attend the euro zone finance ministers Brussels summit. Greece a new loan program requirements, in order to avoid default.

According to the report, the international monetary fund spokesman said Thursday, in the Greek political party leaders to reach an agreement, the organization and the government will continue to new aid the details of the scheme are discussed. The international monetary fund spokesman rice in regular news conference said an agreement between the ruling party Greek joint is a important progress, and the next will be based on this to continue negotiations.

In London, the bank of England will interest rate at 0.5%, and will purchase assets plan to increase for 50 billion pounds, to increase the total 325 billion pounds to revive the British economy. Britain in the fourth quarter, the economy appears to atrophy.

The European central bank announced that its benchmark interest rate unchanged at 1.00%. European Cheap sunglasses central bank President jean-claude Della auspicious in last year in the November 3 December 8, and two cuts, are all 25 basis points.

China's economic data released on Thursday showed that January's inflation rate is higher than expected, the reason is during the lunar New Year food prices be caused by. China's consumer price index) in January year-on-year growth of 4.5%, and 4.1% in December. Denmark bank senior analyst Fleming-J-nelson think, China's inflation rate rising situation should be temporary.

The dow Jones industrial average was up 6.51 points, or, to 12890.46 point, at 0.05%; The nasdaq composite index rose 11.37 points, or, to 2927.23 point, at 0.39%; Standard &poor's 500 index rose 1.99 points, or, to 1351.95 points, up 0.15%.

Posted by terminalcables at 9:02 PM EST

Share This Post

Post Comment | Permalink

Currently, land tax revenue and land related the tax revenue, although both in the total GDP of or than, are bigger, but, in land financial income, which accounts for the bulk of actually or land financing income.

In 2010, the national tax revenue of RMB 7.3202 trillion yuan (including a lot of land and the related is tax revenue) in that same period, the land grant fee for 2.7 trillion yuan. And according to the central bank "2010 China regional financial operation report" disclosure, platform in RMB loans in the loan (late 2010 RMB loan balance of 47.92 trillion yuan) than not account for more than 30%, the size of the loan platform with estimated 14.4 trillion yuan.

In the platform of loans, there are some mortgage pledge to give priority to, and in mortgage pledge again with land mortgage is given priority to, and the local New Era Hats government of the income source, and mainly depends on land financial, therefore, many people worry that, once the housing downturn, the quality of these credit assets became a problem.

Let a person feel accident quite, from the 2010 China regional financial operation in the report on the "local government financing platform loan analysis' look, the central bank loans to the safety of the credit assets platform guard, seems to be will treasure in the pledged collateral and mortgage, the central bank said in a report: 'financial institutions to local government financing platform the loan risk management policy from previously excessive dependence on local government credit gradually to implement measures against the pledged collateral, transfer. '

As is known to all, the bank lending, the basis of issuing basically has two: the lender and the value of the collateral income level. According to international practice, bank loan conditions and qualifications in the review, the most important is not collateral, but is to be the lender income, cash flow, reimbursement ability and credit conditions, this is usually the first income source said. In the process of loans, once will pass by credit risk the tomb before turned to borrow, to the second income source to the attention of the collateral for more than the first income source to the attention of the lender, so, from loans this view, the bank also became 'pawnshops'.

Historical experience tells us, in the risk control, 'the pawnshop' is far from the modern bank. Today, modern Cheap sunglasses '" also is the harm of the pawnshop, when in lending to emphasize "implement touch, the pledged collateral measures transfer", also be equal to strengthen the real estate (strictly, land) as the bank credit evaluation basis. In this case, the real estate market price rises and falls, through the market comparison conduction, eventually evolve into extremely easily money and credit contraction and the radical expansion of sharp, leading to economic entity of sharply heat and cold snap.

On May 30 day night, a relevant domestic programs in 3 months clean up $463 billion of debt of local electric, causing the stock market especially bank shares plummeted. Although, the relevant departments to dampen quickly, the news is not true, but, virtual economy era, is enough to anyone having trouble with a warning to paradises, has repeatedly left a deep impression on us.

Financial mortgage financing risk land, not only confined place debt beyond the local government scale is the limits of, more in commercial Banks and policy Banks for a variety of reasons have finally first reimbursement from had become a pawn in ' ', to China's capital market and macroeconomic bring to the potential risk of falling.

Posted by terminalcables at 9:21 PM EST

Share This Post

Post Comment | Permalink

Gem companies also need to financing, these companies spend money fast is amazing. Originally, the listing on the gem companies basic is a few small companies, according to normal development, these companies to fund throughput is more limited. And these companies in IPO and through the 'three tenors "when released, offering got huge amounts of money, or even a lot of the funds raised. To lamesa, pharmaceutical, for example, this company in October 30, 2009 the gem landing, when IPO to raise funds to the net amount is 350 million yuan, including the offering for the amount of $206 million. However, less than two years, the company will be 206 million yuan from the amount spent light, and puts forward the requirements of the refinancing, its money fast is obviously not general of small and medium-sized companies than.

Of course, since the beauty of choice, pharmaceutical way of short-term financing bonds, not disturb them A share market, to this, investors pour also relieved many. However, not other companies are also not to disturb them A share investors, in fact, the cursor, the blue gem, and made think network technology companies have to try and Calvin refinancing wish, hope through the issuance of stocks to buy related assets.

The gem companies through the equity financing for the financing behavior of the necessary to be treated differently. As deputy general manager zhou Ming that that, to try to simplify merger and reorganization review procedures, strongly support the company to a New Era Hats third party without connection issuance of shares for the acquisition of assets. Like blue cursor, the network technology, and made think Calvin companies such as the issuance of stocks hope to buy related assets approach, because is targeted issuance, not to the public investors are also not to particular objects from the financial information, therefore, this kind of justice issue of the financing way again, might as well the approved at an early date.

But for the social public investors public again and for the particular object of financing financial financing, it is necessary to wait. First is the gem companies are IPO "three tenors' issue, the company has a large number of super funds raised, and these super funds raised yet more than seventy percent is still in the idle state, and thus, gem of the refinancing problem is not urgent.

Second, some of the gem company funds raised the use of the obvious lack of planning a investment, the capital easy come, when spending lavishly. These funds can bring the size of the benefits, but also need time to inspection. If the companies would have is in spending money, to open it again for the gem of the financing of the gate, this is not only to investors not responsible for, but also of the gem listing company's not responsible. Because of the baseball hats gem of the blind investment company results, bring enterprise is not the development opportunity, but huge burden, even as the development of the enterprise burdensome. Therefore, in the huge funds raised the gem of the investment has not seen the revenue or failing to meet the expected earnings before, must stop to these company for refinancing.

So, despite the gem companies to financing requirements have up-to-date, high frequency, single financing the characteristics of small amount, but the gem in ipo issuer encircling money into the system, the gem should no longer make the financing system of the company into the stock market gem cash machines. Gem companies refinancing, but its share out bonus or junk-rated must return to link. If not to make public investors with corresponding cash dividends, even if be small financing also not line.

Posted by terminalcables at 8:55 PM EST

Share This Post

Post Comment | Permalink

As the stock market prices remain low temperature and the once the international board heat wave, recently appear restless again. Recently, the well-known economists in the new century of xie wrote "start calling for international board". Xie said, start international board can promote market confidence, to boost A shares rise.

In the market is sluggish, Andy xie, called for "international board" is clearly start undesirable. However, it is not strange. In the current world economic recovery slow, European and American economic crisis situation, some countries have reached out to China the hand of asking for help, hoping China to buy more of their national debt. As for foreign natural also hope to catch China this help straw. Like HSBC holdings face crisis plans to shed 30000 jobs (this year already cut 8000 jobs), if can successfully on the international board, melts to a huge funds, this is beneficial to HSBC through the crisis. Therefore, as with deep background of foreign New Era Hats capital for Andy xie, for international board called for it is quite normal.

But not normal is, for the launch of the international board Andy xie, find a ridiculous excuse, say start international board can promote confidence, this is too not by the spectrum.

At present the A share market investor confidence is the lack of obvious, but to say launch international board can promote market confidence and I'm afraid is reversed, is black and white, at least, I'm not letter.

The A share market investors why lack of confidence? In the final analysis is A shares is A circle money city. For the issuer in service purpose, under the guidance of the stock market became the issuer heaven, hell for the investors. Especially in recent years, under the guise of issuance in the market, the ipo issuer became a naked encircling money behavior. Plus, not taking the refinancing size, form along with all the A share market three set blood machine, and every day from the stock market cylinders in blood. But the flipside is that investors interests get protection, investors should not return of investment, the listed company to encircle money for all kinds of illegal behavior. In the face of such market, investors have no faith is very normal, confident but not normal.

And the international board and can't change the above out many of the existence of the problem, instead, also have A share market circle of increased foreign money object, this is actually increased the A share market encircling money strength. So all this, and how to improve market confidence? On the contrary, it will only make investors more lack confidence. Especially, at this stage of the world economic situation is not optimistic, Europe and the United States economy is full of crisis, let these countries and baseball hats areas of the enterprise to the a-share listed, this undoubtedly give A share market with great investment risk. A shares what investors with these foreign company necessary danger? The A share market and what is the need to hand this risk bringing in?

Maybe the words can as Andy xie xie preach international board footnote: international board will help the world economy, to China's economy can be a good thing. International slabs if there are any more benefits for China's economy, is still a mystery (perhaps only harmful). But will help the world economy is concerned, this kind of view is obviously take China as the savior of the world. A far more than Europe and America, poor Chinese behind how to act as the savior of the world? Especially the board launch, at the present time, and will sacrifice domestic the interests of investors, China is necessary to pretend, through the sacrifice of the interests of the people of the world have to act as a savior? China should not do such a stupid thing, and China is not the savior of the world, to this, people must have self-knowledge.

Posted by terminalcables at 9:20 PM EST

Share This Post

Post Comment | Permalink

Local debt issuance don't become the new channel debt waste

Local debts finally try out, perhaps this is the replacement of a temporary land fiscal measures, however, in a sense, the local debt and land the change of the market closely related. Now the land market downturn in again, so, 10 trillion place debt risk will be exposed.

Bank credit is the main source of local debt fund, 80% or so, land market downturn, will reduce the value of the mortgage on land valuations, local debt risk may adversely affect the entire financial system. From the experience to see, if the local government can't get rid of financial dependence on land, then, even if this round of developers money collecting problems, many developers collapse, but first, a local government is in a year, not a prime couldn't stand the place.

Something like this is really sad. Who will be from the land, the key is to do up the local economy. But, from the financial crisis, the global government only two strokes can go: a move is the managers, significant debt, deficit up welfare, the MLB hats result is the debt, social unrest, white-collar revolution, Wall Street white-collar workers in high inflation and high unemployment blow, to the streets, scorned seal of bank note, peaks. A move the tightening fiscal and save money, the result is economic depression, protesting Greek states. Perhaps, we have to face this two strokes, are not good idea.

Seal of bank note can only lead to the collapse of the evaluation system, the scourge of the root of the market economy. Inflation type distribution of wealth, caused the capital asset bubbles, increasing the cost of living, dilute the hard-earned money of the people, and to reduce the notes purchasing power. Only can let the economy more chaos, people more irritated. This recruit absolutely get one, also can't go. Issue bonds and also want moderation, bonds hair, the hair is equal to the currency. We pointed out that the United States Treasury bonds in improving the upper limit when points out, seal and translated in essence notes is consistent, without any difference. All grew up in the help of the government, to waste, no single person buried, and finally let all the taxpayers foot the bills. We can understand, why global financial rob so hate to the United States, the American people are for Wall Street so angry, the reason is very simple, that is printed notes from the depredations of most of the baseball hats wealth, more than limit, dry disaster, let most of people take risks. This is the logic of rogue, you don't save me you also have a hard time. You to save him and he will be partitioned the relief funds, it is the American investment Banks doing. The fed's printing of bank note is the global financial crisis of the frequent direct source.

We don't know tightening fiscal will give the world so what kind of risk, Obama urged other countries implement the positive fiscal policy, in order to avoid the growth of the global loss of power, in fact, in the present, and the crisis of old Europe except to solve the crisis of the banknote printing works, more important is tightening fiscal, live within your means. Long live the debt has come to an end, because the money illusion with the collapse of the notes system, scam has to remain in the world. The number of people not only focus on currency, pay more attention to the actual purchasing power of money. Only the shine on a demon mirror out purchasing power, people can see clear, a so-called asset bubble, the going is actually notes itself. Convert the after perspective, it was found that, through the crisis, must retrench the good work industry, innovation, can out of the reality of the crisis. In China's case, big government of the cuts, decrease the fiscal expenditure, may be more important. The government itself is a service management institutions, itself is not create value, if this piece of excessive inflation, control too many resources, market economic damage is very big.

Posted by terminalcables at 8:58 PM EST

Share This Post

Post Comment | Permalink

For a long time, and expand the market 'access' almost become the pronoun of trade liberalization. However, the world trade organization on January 30 days in China are limited to nine export raw materials have a case ruling, confirmed that Chinese to these raw material implementation export tax and export quota limitation against the international trade rules, must be correct, that in today's world trade disputes are from "access" to "must extend out '. Of course, the world trade organization also support the Chinese several of the request and the overthrow of the expert group about the quota allocation management, and export license and export quota bidding, minimum prices at the ruling, although not simply in order to "take care of face", but still difficult to essentially shake the Chinese "losing 'situation, can saying is the consequences will be severe, in addition to the' link from 'must threaten to the independence of China's foreign trade policy with national economic safety, also from' a 'link must prevents China trade country to trade power from the process.

In the face of China's trade dispute from "access" to "the 'extensions are allowed jiancheng trend. Look ahead, as early as in 2004, the eu is asking China to let go of coke export restrictions, otherwise will resort to the world trade organization. Although central Europe dc hats the two sides finally reached an agreement, but alarming: in addition to "access" link, the trade friction also exist in 'must out' link. Look back, the world trade organization in China "judge" losing "also will produce negative demonstrative effect. As the New York times says, western challenge Chinese restrictions on rare earth, including the other natural resources are an example to follow the export.

The 'lost' exposed some of our own 'soft rib'. According to China's wto commitments, in addition to the 84 tax, such as zinc products outside, cancel the export products all taxes. The world trade organization is prohibited export restrictions, but allow 'exceptions', such as permitting for protecting ecological environment and export restrictions. However, if in order to protect the ecological environment, both for export or sale in domestic market, will take the same restrictions, but not limited to the 'must out'. Now is intertwine, extensive pattern of economic growth in the next, with important mineral resources collection of related domestic tax will be unable to downstream industry, and to change the mode of economic growth is not built in a day.

For the world trade organization this "' decision", our heart is unwilling. Do as you would be done by. The United States is the world's proven reserves on the most abundant one of the countries, but the United States to own the mineral resources protection have add, the but again asked China to increase the export of mineral resources. Only the United States need to protect people stumped ecological environment, the Chinese don't need? At the same time, now many countries have export restrictions, such as the United States limits exports of high New Era Hats technology, Australia and Brazil's three big mining joint control iron ore prices, Russia will also tax on food exports, why the wto with China but it happened can not pass?

No doubt, China in 'a' link must limit the export of raw materials of the original intention of goodwill. From the protection of ecological environment and change the way of foreign trade growth needs to see, China should not be long-term and many cheap export of raw materials, need to improve the export products of technology content and added value. In this sense, the western countries don't have to limit China's export of raw materials flustered. I'd come up with an idea, the western countries to gain more from China of raw materials, simply take the advanced technology to China, using China's raw materials and labor resources for deep processing. So, China's industry also upgrade, and these western countries can get more raw materials from China, such cooperation not kill two birds with one stone, why always to the world trade organization there to accuse China of shape?

Posted by terminalcables at 9:00 PM EST

Share This Post

Post Comment | Permalink