The richest man starts with a blind box

Chapter 1166 Building a car is worse than buying a fund

August and September of 2008 were two months of universal celebration for Huaxia. With the opening of the Olympic Games and the continuous development of the economy, Huaxia was extremely excited. It was a paradise on earth.

But in the United States, these August and September are like St. Petersburg in 8. There was heavy snow in the sky, and there were inexhaustible Soviet troops in the city, while the supply line outside had been interrupted for several months, and then suddenly heard the news, Allied forces landed in Normandy.

This is basically the case in the United States now.

With the complete failure of major financial institutions, the entire country of the United States can be described as a depression, with all industries ruined and countless factories closed. According to the latest data released by relevant departments, within two months, the unemployment rate in the United States has dropped from 3.7%. , It soared to 5.8% in one breath, which is equivalent to millions of Americans losing their jobs in these two months.

What is even more tragic is the housing price. In Manhattan, New York, before July, the average housing price per square meter was close to 7 US dollars per square meter, but in September, this price was directly halved to 4 US dollars per square meter, and it is still falling. According to estimates by some real estate experts, prices are likely to eventually drop below $9.

And this is not an individual situation in Manhattan, but a common situation in the entire real estate industry. Housing prices across the United States have fallen by more than 30% within two months, and real estate companies with more than three digits have announced Bankruptcy... because they couldn't build a house at all, and the more they saw it, the more they benefited, so they didn't build it at all, and declared bankruptcy directly, but it was possible to keep more property.

But the real estate industry is not the most unlucky, the most unlucky is the auto industry, the entire American auto industry has ushered in a round of plummet, the worst is General Motors, the stock price has fallen from the original 28 US dollars to 6 US dollars, only the original 1/5 of the share price.

In addition to this, almost all other industries are like this. There is no industry whose stock price can rise, and there is no industry that has not closed down companies, or is not laying off employees...

Well, it can’t be said that there is nothing at all. It seems that the game industry has started to rise against the trend. The sales data of major game companies have ushered in a surge in the past two months, especially the data on the OO game platform. In the past month, the total number of players has increased by 40%, and the payment amount has increased by 15%. Instead, the major game companies have made a lot of money.

But this is also easy to understand, because there has always been a theory in economics called the lipstick economy.

The source of this theory is the Great Depression of the last century, when the economy fell even worse. At that time, it was generally believed that the entertainment industry would fall even worse.Because the remaining money must be used to buy various living materials, not to buy entertainment products that cannot be eaten as meals.

As a result, after actual investigation, it was found that lipstick, stockings, foundation, and poker products all had quite good performance, and instead increased a lot of sales.

Later, through investigation, it was discovered that with the economic downturn, a large number of people lost their jobs, and after losing their jobs, they would be stuck at home. In addition to thinking about how to fill their stomachs every day, they also had to think about how to cheer themselves up and how to relieve their worries, etc. Wait, these people have created a huge spiritual void, and they need to fill this spiritual void.

Men need tools like poker bridge to pass the time by playing cards.And women need lipstick, such cosmetics to help them get rid of depression.

In addition, things like lipstick and stockings can also increase the interest of life, and then stimulate some desires by the way, and then use some sports to pass more time.

In the 21st century, games have become the best way to fill the spiritual emptiness. A large number of people who are unemployed at home must pass the time by playing games, which naturally leads to a skyrocketing data in various game industries.

The soaring data in the game industry will naturally bring huge benefits to 00 Network, making 00 Network one of the few companies that can rise against the trend.

And at this time, a company that can continue to rise is bound to become the best safe haven in the hearts of many stockholders. They will throw all the coffin money they have managed to escape into the OO network, and at least they can make some more money!

As a result, OO Network ushered in an unimaginable increase. After breaking through 7 billion US dollars, it successfully broke through 000 billion US dollars in market value, and once again set an unprecedented record.

But the more the OO network rose, the worse the other industries fell. After two months, the entire US stock market evaporated nearly 30 trillion US dollars in assets. All industries were mourning, and more and more people lost their jobs. The explosion of negative emotions on the entire Internet is all kinds of insults to Wall Street and ZF.

It's not just the case in the United States. This trend has now spread to Europe and Asia. Anyway, almost the world's financial markets have collapsed under the leadership of the United States. There are tens of millions of people around the world who are unemployed because of this. .

Readers may feel strange after seeing this, isn't this a subprime loan issue after all?The only ones who should be unlucky are real estate developers and those lending institutions. How could it affect so many industries?

This seems to be true, but with the support of the financial market, the economies of various countries in the world, and even the global economy, have become a whole.

Among other things, first of all, the outbreak of the subprime mortgage crisis and the crazy revelations by the media naturally let countless Americans know that a large number of houses were bought by poor people who could not afford to pay back their mortgages. After repaying the loan, the final result is bound to be sold through a judicial auction.

But the problem is that people who originally had the ability and plan to buy a house have already bought a house in the first wave. At this time, the motivation of most people to buy a house is actually investment rather than just need, and at this time there are a large number of people who cannot repay their loans. Houses appeared in the judicial auction market... The sharp drop in housing prices became an inevitable thing. A large number of people began to sell their properties, eager to escape from the real estate market that was about to collapse, which further promoted The collapse of house prices.

After the housing prices collapsed, the real estate companies collapsed immediately, because every extra brick or piece of wood they brought in was destined to lose money.

Therefore, many real estate companies directly announced their closure or bankruptcy, and the staff of those real estate companies were the first to be dismissed.But this is just the beginning. After that, all companies that directly supply various building materials to real estate will go bankrupt due to the sudden drop in orders.

Secondly, due to the prosperity of the real estate industry, many people related to real estate spend a lot of money in the service industry market. Now that these people have no money, it is naturally impossible to spend extravagantly in the service industry, so the service industry is also affected. Great impact, the service industry also began a large number of layoffs.

And these impacts are related, and the companies that supply these companies will also be greatly affected.

At the same time, due to a large number of layoffs in the society, the consumption power has declined urgently.Seeing this situation in the market, many people who have not been laid off will instinctively reduce consumption and find ways to save more money to cope with future risks, further reducing the consumption rate of the entire consumer market.

And that's just the real impact, and what's worse is the financial market impact.

In the past few years, various subprime loan products that have been packaged and sold on the shelves have totaled more than 100 trillion US dollars.

More than half of them are purchased and invested by various financial institutions and funds, and a large part is digested by social institutions.

Take Volkswagen, which has been reported to have completely broken its capital chain, as an example. It would take about half a year for the subprime mortgage crisis to affect the auto industry.

However, it is another matter for the management of Volkswagen to use all its funds to buy subprime loan products.

Logically speaking, the funds in Volkswagen's hands are either directly used to distribute dividends to shareholders, or to expand production and use the money to make more money.

But the management of Volkswagen soon discovered that the auto industry has entered a bottleneck, and expanding production cannot make more money, and the profit may only be a pitiful few percent.

But it’s different to invest directly in the financial market. As long as you use the money to buy subprime loan products, you can earn as much as 3% a year, which is much more profitable than cars.

Therefore, Volkswagen has 1 billion US dollars in funds, all of which are used to buy subprime loan products, and these products obviously have no ability to pay back at all, and at the same time the price has also plummeted. It has shrunk to less than 000 billion US dollars, basically evaporating all of it.

But this $1 billion fund is used to maintain the daily operation of Volkswagen. The workers are counting on this money to pay wages. Now you tell me that all the money is gone?

As a result, Volkswagen is facing bankruptcy due to a broken capital chain.

The same situation applies to many other auto companies. In addition to the energy industry, agriculture, etc., a large number of companies in other industries have followed suit and used their money to invest in financial products with higher profitability.

Now these products have all collapsed, and their capital chains have also collapsed. This is why more than [-] companies have declared bankruptcy due to a broken capital chain within two months.

And it is not only American companies that buy these financial products, but also a large number of companies in Europe and Southeast Asia, as well as South Korea and Fusang, who are also enthusiastically buying these subprime loan products in the market to ensure profitability. This will directly affect the whole world Yet?
In the end, as of the end of October, according to incomplete statistics, the US dollar assets that have disappeared due to this crisis have exceeded a terrifying scale of 10 trillion, and this number is still increasing. to the end.

(End of this chapter)