Before the American economic crisis, America seemed to be a prosperous scene. In fact, it is mainly driven by the false prosperity of the real estate market, and the real estate transactions in the United States are over-speculative. This phenomenon can be described by an example that we can easily understand:
It is said that we all speculate in stocks to make money, but it is not enough to invest all our money. We still want to borrow money to make money, so we mortgage our own stocks and continue to buy stocks, and some banks even give you financing without your mortgage.
This has accumulated a lot of risks.
One day, the crazy stock market fever showed signs of fading, and the stock also fell. Many people cut their meat and leave because they can't pay back their loans, and many people take mortgaged properties because they can't pay back their money. Many banks have to admit compensation when lenders can't repay their debts because they don't have enough collateral. Chain reaction, personal bankruptcy, bankruptcy of credit institutions, economic depression, inflation.
The American government hopes to curb excessive investment, reduce the scale of credit, and control the pushed up prices, so it has adopted a policy of tightening monetary policy, including raising interest rates, raising bank deposit reserves, and issuing bills to absorb money market funds.
In fact, American political and economic circles are all politicians. They really dare not compliment their ability to manage the national economy. They don't know the patients in their own country. The rapid and sustained policy of raising interest rates is actually the fuse of this crisis. This measure led to a large number of loans that could not be repaid, triggered a series of bad debts, and led to the domino collapse of many financial companies in the United States.
Stock value is wealth on paper, and it only refers to the transaction price, not the value of actual assets. His ups and downs lost the "money" of the participants in the transaction, but did not damage the assets in the listed company.
The money issued for the first time enters the company and becomes an asset. After that, there will be no asset exchange, unless it is a new rights issue and dividend.
In future transactions, all of them are virtual wealth. If the company's net assets per share are 1.5 yuan, the stock trading price in the market is 10 yuan, and the circulating shareholders enjoy 1.5 yuan assets at the price of 10 yuan. After the stock price fell, the lost money went into the hands of the penultimate holders of government taxes, exchange commissions and stocks. Because all three kinds of people are cashing in cash. People holding stocks will continue to face the test of rising or falling.
To sum up, the money went to the company, the government, the exchange and the "penultimate former shareholder". Among them, the company is one-off, the government and the exchange are pumping water repeatedly, and shareholders are playing a game between the old and the new. The world wealth is still 65,438+the company's 0.5 yuan assets per share.
Finally, whether the money is really gone. In fact, there is still money (cash), but everyone is afraid of the development of the crisis and has not taken it out. The market liquidity is insufficient, and the banking systems in various countries are short of funds. The state wants to supplement the liquidity of funds in the market with financial funds, so there is a phenomenon that the state continues to invest trillions in the market. When everyone thinks that the crisis has passed or is about to pass, the money in the market will increase again, because everyone dares to invest.
Now the trillions of losses are virtual wealth (the face value of securities).