The U.S. Home Mortgage Investment Company filed for bankruptcy protection. This is another large U.S. mortgage loan institution on the verge of bankruptcy after New Century Financial Corporation.
Immediately afterwards, Bear Stearns, the fifth largest investment bank in the United States, announced that two of its major fund companies had collapsed.
Then in Europe, banks or investment institutions such as Germany and France announced the freeze of their funds involved in investing in the U.S. mortgage market. In Asia, banks in Japan and South Korea also announced losses in the U.S. market.
This has not caused much panic outside the United States, because banks in Asia and Europe can still bear the losses and will not necessarily affect the main entities.
But that's not the case here in the United States. None of the major investment banks was unscathed, and even companies like Wal-Mart suffered huge losses as a result.
As the world's number one retail giant, Wal-Mart's daily transaction volume is very huge, and it has a large amount of stagnant cash. This money must not be left on the books and should be invested. This is the most correct way of doing business. .
Therefore, there are also credit companies under Wal-Mart, which has led to huge losses for credit companies under Wal-Mart.
At this time, it was obvious that the United States could no longer hold on, and the Federal Reserve Bank began to inject more than 20 billion U.S. dollars into banks to rescue the market.
Unfortunately, more than 20 billion US dollars will not help at all.
Europe has prepared 150 billion euros to rescue the market, and Japan has prepared trillions of yen to rescue the market. But what surprises many people is that China, which is also a major creditor of the United States, has remained silent on this.
These actions to rescue the market stimulated the financial market. Many people are rumored that the financial market in the United States is going to collapse, which will affect major financial markets around the world. No one in Europe or Asia can escape.
In the past two days, both the stock market and major futures markets such as gold and crude oil have fallen across the board.
Crude oil, which had just exceeded 80 US dollars a few days ago, has fallen below 80 US dollars this time. Fortunately, Feng Yu and the others have done hedging again.
What's more, the price at which Feng Yu and the others bought these contracts was only over fifty dollars. Now, although crude oil has fallen a little, they have only lost a little profit, and they still have high profits.
The Dow Jones index, which originally rose to more than 14,000 points, immediately plunged. For two consecutive days, it fell by more than 3%.
Inevitably, the stock indexes in Europe, island countries, and Hong Kong have all fallen, and even China's stock index has also fallen a bit.
The United States affects the world economy, this is really not a boast. The United States has borrowed a large amount of national debt. Especially during the administration of George W. Bush, they also launched wars to teach Afghanistan a lesson in the name of counter-terrorism, making many countries in Europe and Asia become their creditors.
The faster a country's economy develops, the more national debt it buys. Countries with high foreign exchange reserves, such as China and Japan, own astronomical amounts of U.S. national debt.
Why didn't the United States launch a big rescue plan at this time? The rescue funds provided by the Reserve Bank of the United States were less than one-sixth of those in Europe.
Because the United States has another trick, which is to go bankrupt. Those national debts, but I don’t know when they will be liquidated. Of course, if the government goes bankrupt, the losses to the United States will also be huge. No president would dare to make such a decision easily.
Moreover, the amount of U.S. Treasury bonds is huge, but 60% is internal. In other words, more U.S. investment institutions and citizens are buying U.S. government bonds.
The United States is only a creditor country that threatens Europe and Asia. Please help me quickly, or I will go bankrupt and your previous investment may be in vain.
Of course, they also threatened China. It's a pity that China doesn't pay attention to it at all. If you really dare to go bankrupt, I will admit that those national debts will become waste paper, and let's see who loses the most.
The more developed the economy, the greater the loss in bankruptcy. Just like when China was very poor and had nothing to lose, it was not afraid of fighting anyone. We all retreated together, but you will definitely retreat more than me.
Although we hurt each other, if I break a finger and you break a wrist, who is more miserable
The Chinese government has also realized that the subprime mortgage crisis in the United States is about to turn into a subprime mortgage crisis, which will inevitably lead to a serious economic crisis. Of course, if I have money, I will use it to stabilize the domestic economic situation and not care about your life and death in foreign countries. Woolen cloth.
The economic conditions in Europe are good and the debt is much higher than that of China. They are definitely more nervous than us. It is better to leave this kind of rescue to capable people. We were kind enough by not taking the opportunity to add insult to injury.
You see, if there is a problem in your financial market, won't we also be affected
China's stock market is also falling at this time, but it is far less ferocious than in the previous life, because there has been a round of blows before, making many investments return to rationality.
Many of the stocks that rose fiercely in the previous life were speculated. After being severely dealt with by the superiors in this life, the stock market has long since lost its peak popularity. Now it only has more than 4,000 points, which is less than in the previous life. Close to one-third.
Therefore, although China's stock market was affected, the decline was not that big, and China still has a lot of funds that can be used to stabilize the market.
The same is true over Xiangjiang. Although the damage is considerable, it is much better than in the previous life. Two months ago, Fu Rongqi and the others predicted that the stock market would fall, so they sold a lot of stocks.
At that time, famous investors such as Buffett also sold many stocks in the Xiangjiang market. In fact, the stock market in Xiangjiang was not growing much at that time.
At this time, the Asia-Pacific Central Bank also announced that it would inject capital into the banking system, mainly to ease the economic pressure on banks in these Southeast Asian countries.
But Hua Xia Bank was not affected at all. They had already sold off the mortgage bonds of subprime loans at the request of their superiors. Although profits in the second half of last year and the first half of this year were relatively low, this was the subprime crisis, but it had an impact on them. Reduced to the lowest level.
Even the U.S. Treasury bonds purchased by these banks have quietly sold off a lot of them, so the U.S. Treasury bonds held by China at this time are much smaller than at this time in the previous life.
The crisis passed on by the United States this time will at least have a much lower impact on China.
The whole world has suffered heavy losses due to the subprime mortgage crisis in the United States. Many experts predict that this may affect the overall economic development, and perhaps the global economy will be hit hard this year.
At this time, central banks around the world have injected more than 400 billion US dollars to rescue the market due to the subprime mortgage crisis, and this number is still rising urgently.
When it came time to plug the holes, they discovered that there were so many holes and they were so big.
Feng Yu looked at the news on the Internet and raised the corners of his mouth. The subprime mortgage crisis is coming, and so are the huge profits in the futures market! (To be continued.)