After G20, Global Liquidity Has Entered An Irreversible Tightening Cycle.

Some things can only be done, and some words can only be said not to be done.

The fluidity of this thing will give you some sunshine. It will flood the flood. You are the God. You can't control it. You are the grandson.

The leaders of the G20 summit reached a consensus that they should be more active in fiscal policy. This is a public statement. No public response to the public is what direction the monetary policy will take next. It is more relaxed or tight, or maintaining stability. Obviously, the big guys are not interested in continuing to pour money on the currency, because the marginal effect is indeed decreasing, but no one has spoken publicly about this.

The capital market is hidden, and more and more signs show that the global bubble is an unavoidable reality, so even if the European Central Bank is also out of the normal state, the interest rate unchanged, easing no longer overweight, this reaction has fallen short of everyone's expectations, and then the Fed officials' discussion on raising interest rates has become a more urgent move. The subtle changes in Europe and America are the weathervane that has led to the recent market evolution. The Dow has plummeted, rebounded and plunged. Basically, it announced the adjustment cycle. The Fed raised interest rates in September or did it raise interest rates in October?

It is logic, logic can find out the law.

For example, the rise and fall, or the rise, is the basic law.

For example, interest rate rises and interest rates rise. This is the law of price.

The above two articles are compared with the US market, one has been rising for a long time, how long has it been seven years since March 2009, and the two is that the United States has raised interest rates. At the end of last year, it was added once, and now it is waiting for second times.

As for the poor us non-agricultural indicators, it may be a factor that affects the rate of increase in interest rates, but it also shows that the US economy is in a recession, and I am afraid it will not be able to sustain the optimism of the stock market. This is the same judgement.

Fluidity is not only in China, but also in the world. It is not only in China, but also in the world. After the 2008 financial crisis, all countries competed to stimulate money injection and saved the moment. The United States was the first to do quantitative easing, but it also withdrew early. Europe simply followed up and did not withdraw from the plan. On the basis of Andouble economics, Japan cut off water and even more water. China was aware of the problem earlier, but it did not dare to halt it. However, from the increase of M2, it knew that it had dropped from over 13% of the peak to 10%, and the market has also abandoned the idea of lowering interest rates, even though the latest CPI figures are only 1.34%.

There is a downlink in its own right, but the central bank rather than the long and medium term lending tools can not be used to flood irrigation. Of course, the bigger worry is real estate, especially housing prices soaring at the end of this year and the beginning of this year.

Although the Bretton Woods system was disintegrated in 1971,

As the gold standard is no more alternative currency on the global currency, the US dollar remains the anchor of global currency, the Fed still holds the general valve of global currency flows to the global currency flows from the global currency flows, flows from the emerging markets, rising returns to emerging markets, rising markets, rising markets, the rising markets, the rising markets, rising returns to the rising markets, rising returns to the rising markets, the rise of the rising markets, rising returns to the rising markets, the rise of the rising markets, the rise of the rising markets, the rise of the rising markets, the rise of the rising markets, the rise of the rising markets, the rise of rising markets, the rise of rising markets, the rise of rising markets, the rise of rising markets, the rise of rising markets, the rise of rising markets, the rise of rising markets, the rise of rising markets, the rise of rising markets, the rise of rising markets, the rise of rising markets, the rise of rising markets, the rise of rising markets, the rise of rising markets, the rise of rising markets, the rise of rising markets, the rise of rising markets, the rise of rising markets, the rise of rising markets, the rise of rising markets, the rise of rising markets, the rise of rising markets, the rise of rising markets, the rise of rising markets, the rise of rising markets, the rise of rising markets, the rise of rising markets, the rise of rising markets, the rise of rising markets, the rise of rising markets, the rise of rising markets, the rise of rising markets, the rise of rising markets, the rise of rising markets, the rise of rising markets, the rise of rising markets, the rise of rising markets, the rise of rising markets, the rise of rising markets, the rise of rising markets, the rise of rising markets, the rise of rising markets, the rise of rising markets, the rise of rising markets, the rise of rising markets, the rise of rising markets, the rise of rising markets, the rise of rising markets, the rise of rising markets, the rise of rising markets, the rise of rising markets, the rise of rising markets, the rise of both the real economy and the virtual economy have been impacted at the same time, the Latin American financial crisis in history, the financial crisis in Southeast Asia and the subprime crisis are all the same.

Because the crisis of early warning is actually not a real crisis. The real crisis comes from our unknown territory or time. The bubble of Chinese real estate is actually the most worrying crisis that we are worried about. But the Chinese government has taken precautions, and the various measures to restrict the purchase and lending have come back again. The high pressure on the North has never been lifted. What is most needed is the bank's impulse to mortgage the real estate, especially the addition of the lever to the residents. These two sides have limited the risk. Even if the real estate collapses, the possibility of causing the financial crisis will not be out of control.