Financial crisis refers to all or most of the financial indicators (such as: short-term interest rates, monetary assets, securities, real estate, land (prices), number of commercial bankruptcies and financial indicators in a country or several countries and regions). The sharp, short-term and super-cyclical deterioration of the number of institutional failures

1. This financial crisis originated in the United States. The causes of the financial crisis: credit expansion and the bursting of economic bubbles caused by the virtual economy are the main causes of the financial crisis. The subprime mortgage crisis was the trigger. The actual subprime mortgage bonds only amounted to US$600 billion, which triggered such a big financial crisis. It was all caused by following the trend, that is, people’s psychological expectations. The herd effect refers to the existence of those in the market who have not formed their own Investors who expect or do not have first-hand information will change their behavior based on the behavior of other investors. Theoretically, the herding effect will increase market volatility and become the key to the success of the leader's behavior. In the following cases, sesame cakes are the leader. In the real economy, subprime mortgages are the leader

2. From the subprime mortgage crisis to the financial crisis, here is an original case: Two people sell sesame cakes, each one a day Sell ??20 pieces (because the entire demand for sesame cakes is only 40 pieces), the price is one yuan each, and the daily output value is 40 yuan. Later, the two people discussed and bought and sold 100 pieces to each other (A bought 100 pieces from B, and B bought 100 pieces from A). In the account form, the price remains unchanged, and the transaction volume becomes 240 yuan per day - the virtual economy is produced

If the price of the biscuits sold to each other is 5 yuan, the transaction volume is 1,040 yuan per day. At this time, A and B raised the price of sesame cakes in the market to 2 yuan. Some people heard that sesame cakes were sold for 5 yuan each. When they saw that the sesame cakes in the market were only 2 yuan, they bought them quickly.--Bubble economy emerged

Making sesame cakes all at once If they don't come out, they buy forward biscuits. On the one hand, A and B increase the production of sesame biscuits (up to 100 or more every day), on the other hand, they sell forward sesame biscuits, and also engage in the transaction of issuing sesame biscuits bonds. The buyers first use Cash purchase, and mortgage loan purchase. --- Financing, financial intervention

Some people want to buy, but have neither cash nor collateral, so A and B issue subprime sesame seed bonds to insurance companies. Institutions purchased insurance. --- Subprime bonds sowed the seeds for the subprime mortgage crisis

One day, I found that I couldn’t eat the sesame cakes I purchased. They needed space to store them and were moldy, so I hurried Sell ??it off, even if the price is lower.--The bubble burst

The financial crisis broke out. The Shaobing shop laid off employees (as long as 40 Shaobings per day are enough)--unemployed; the Shaobing bonds became useless paper --Subprime mortgage crisis

Mortgage loans (the collateral is worthless) cannot be recovered, lending banks have liquidity crises, insurance companies face bankruptcy, etc. --Financial crisis

3. In the process from the subprime mortgage crisis to the financial crisis, the financial leverage of financial institutions and the issuance and circulation of financial derivatives played a magnifying role

4. Financial The crisis has spread all over the world. For China, part of the country's foreign exchange reserves has been lost, exports have become difficult, economic growth has slowed, unemployment has increased, people's income has dropped, consumption has decreased, and the market has become depressed. In severe cases, it can cause political instability. Compared with European countries (such as (Detroit Motor City in the United States is already in a deep depression). The impact of this financial crisis on China is not great, because China’s economy is somewhat separated from the international economy. Our country’s RMB implements strict management under the capital account, and the impact of international hot money will not be affected. Even though more than 70 banks in the United States are now closing down, China's financial system is operating well and the economy is growing at a certain rate. At the same time, the country is also taking measures such as fiscal expansion and lowering the deposit reserve ratio to stimulate domestic demand. Now it has lowered the RMB exchange rate. If various macroeconomic measures are effectively implemented, it will only take about one year for China to be able to Past.