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 is the fuse. The actual subprime mortgage bonds are only 6,000 billion US dollars, triggering such a big financial crisis, is all caused by following the trend, that is, people's psychological expectations, the herd effect, which refers to the existence of investors in the market who have not formed their own expectations or have not obtained first-hand information. They will Alter your own behavior based on what other investors are doing. 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 for a day Selling 20 pieces (because the entire demand for sesame cakes is only 40), 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 accounting form, the price remains unchanged, and the transaction volume becomes 240 yuan per day - the virtual economy is produced. If the price of mutually traded biscuits is 5 yuan, the transaction volume will be 1,040 yuan per day. At this time, A and B will increase the market biscuits to 2 Yuan, some people heard that sesame biscuits are sold for 5 yuan a piece, and when they saw that the sesame biscuits on the market were only 2 yuan, they bought them quickly, and the bubble economy emerged

Deeper

(1 ) The negative consequences caused by the long-term accumulation of advanced consumption. In the United States, excessive consumption has long been prevalent, encouraging people to buy houses, cars, and high-end consumer goods. In pursuit of high profits, banks have issued various credit cards to residents to encourage excessive consumption. “Use tomorrow’s money for today’s enjoyment.” "Let your dreams come early and make them come true. "Being able to earn money and spend money is the pride of the times." To put it bluntly, this kind of advanced consumption has also brought temporary prosperity in several years. But this kind of advance of future purchasing power After all, the behavior is "eat what you eat", there are bubbles, and the temporary prosperity is illusory. Once the economy is in recession, a large number of unemployed people will not be able to pay their debts, and consumers' ability to pay will drop sharply, and US subprime debt will become prominent. In front of the world, banks have piles of bad debts, and some investment banks are facing bankruptcy.

(2) American banks are burdened by high salaries. The American banking industry has been pampered for a long time and seems to be the "proud one of heaven." Senior leaders are all highly paid, with annual salaries in the millions of dollars. The annual salary of middle-level white-collar workers can also reach hundreds of thousands of dollars. The banking industry has long been very profitable due to the huge amount of loans, even though it is paid year after year. The salary is high, but it is still affordable. Once the debtors are unable to pay their debts, there will be a large number of bad debts, resulting in a triangle of debt. The bank will suffer from a large number of layoffs. If you think carefully, the high salary is an excessive benefit to the economy. The results contain elements of exploitation. In other words, it is a foolish move to "take advantage of the situation" and "kill the chicken to get the eggs."

(3) The United States currently lacks emerging industries. Industries leading the world. Such as highways, automobile industry, aviation industry, electronic communications industry. For example, computer hardware and software, and mobile phones were once far ahead. While many countries were still in their infancy, the United States has formed industries in a large area. In recent years, these leading industries in the United States have been in a state of limbo, while many countries in the world are rapidly catching up. Electronic industries such as computers and mobile phones have developed rapidly, and the United States' advantages have been relatively weakened, or are gradually losing their advantage.