Financial Purge: China Or Aware Of Dangerous Packages

The clock wheel was turned into an electric fan because the wheel of the wheel was smoothed, and the wheels were slippery.

After "2012, there is no truth".

This time, the commodity is publicized with pure financial attributes. Futures try to exaggerate the expected limit, and the slope of the deadline curve is negative.

Producers are short sellers of futures.

Cyclical stocks may no longer be the Nicholas king in the original wheel.

Financial capital can coerce monetary authorities to keep interest rates down, even break the bottom line of zero interest rates to "negative interest rates". Corporate profits continue to decline, but they can rely on the cost of financing to go down to life, in exchange for low efficiency, and hire more people and reduce layoffs.

The real world has never seen, no growth, no inflation (because of low efficiency, slow wage growth), the decline in corporate profits, employment looks ok, and the rest is only a growing financial bubble.

A field

Start quietly.

The awakening of consciousness came from the first quarter.

Maybe I don't know if I don't know.

6 trillion and 600 billion of the social integration went on, only a 0.7 point increase in investment (investment from 10% at the end of last year to 10.7% in the 1 quarter), corresponding to financial inflation (1 quarter).

The rate of asset expansion is 18%); asset inflation (property and land); and inflation in life.

Once the overseas financial leverage reduction is ahead of China, the credit exposure is reduced, and the opening of pactions is launched. China's assets are equivalent to being put on the high court, and the ladder has been withdrawn.

This scenario may not come from the awakening of politicians' consciousness, but also from the market's fear of negative interest rates. Riskoff is a natural force.

The next 3-6 months will be China's key window down the stairs.

Costly

(swelling financial leverage), can we achieve the rapid decline of the real economic returns, or "loyalty and filial piety"? It is as difficult as carrying the hair out of the ground.

The currency will disappear.

Financial traders are always thinking, "who is the next target of China's powerful mobile attack?" but this may be a false proposition.

Money can disappear with the end of credit exposure. This is like the process of increasing leverage and debt to drive up asset prices, which corresponds to financial deleveraging and asset price declines.

The biggest change in China's debt market and three years ago was the upside down of the return on financial assets and the cost of liabilities. The divergence of the financial system made the whole financial system thin.

Under high leverage, inflation is like fireworks.

But fireworks are cold.

Life is brilliant, and death is gorgeous.

"Poetry and distance" will become less interesting. The value of imagination is dissipating and traders will become more realistic.

A sharp decline in turnover will become a trend.

In a dull market, Guo Jia team is more flexible.

After the bumpy stock market, the utilitarian heart of the person will be sharpening, and returning to the natural law (it seems that there is no extreme emphasis on money and financing).

Today, the natural force of the market and the fear of the central bank are accelerating the convergence of cracks.

This process will be accomplished through "asset return upward and debt cost down".

The upward trend of returns is mainly manifested as the risk premium is widening, and the underestimation risk is corrected to some extent. But before the convergence of the upside down gap, the tradability of interest rate will also become dull, and the space game will be like a boiled frog in warm water.