Frogs - Windows Live

Thanks for visiting!.


One day in the future, China may appear two things, one of hyperinflation, first price drop. The reason is very simple, when the economy tend to be equal to the supply demand, so whatever we save a house or saving for the future depends on us whether you are happy in the future how many people support us and support our people to Lao Dong future productivity is very high. If no one, or labor productivity do not increase, the house Ye Hao, Qian Ye Hao did not solve the problem. .


This year the stock market has changed the way upward trend in the last year, frequently psychological tests investors, according to the traditional bottom line fell 20% is a bear market definition, it is so entered bear market. No, the real estate investment in Europe and beyond his means, never too much space, then China G D P growth rate should fall to 6% to 8%. The era of mass construction of heavy industry in China has been concluded. But fortunately this is not the end of the world, because although the next phase of economic growth will decrease, but because of the larger base and still relatively high growth rate, if the investor can accept this fact, and to change our way of life, the future may be more than happy now.


First, moderate consumption, especially of some relatively wealthy people, because the increase in consumption will increase employment, thereby enhancing overall economic growth. More importantly, now in the era of oversupply, but this time with the arrival of Lewis turning point will change. Consider now the Chinese GDP, the proportion of wage income for 22 consecutive years of decline, only 40% less than in the general level should be 50%. Therefore, China in the near future will likely see a rapid rise in the wage period, will enter the inflation cycle accordingly. So now spending less expensive than future consumption. .


This was followed by a healthy way of life. After the heavy industrialization, China's economic growth will mainly rely on the value of units of output growth, industrial upgrading. These words have trivialized as consumers, in particular the relatively affluent consumers, choose a healthy lifestyle is crucial. Countries can only be a catalyst for industrial upgrading, affluent consumers with respect to innovation, willing to provide quality high-quality product is the price of Chinese industry can upgrade the deciding factor. On the other hand experience more healthy products, including cleaner air, safer food, cool consumption, is also a hard-working Chinese consumers, the ultimate goal.


Finally, investment. Since no one country can support it in China, so Chinese people can support themselves. PE through the stock market or invest in innovation and enterprise can not only increase the wealth, but also improve the productivity of the whole society, this is our future, the biggest variable is whether the happy life. By contrast, investment in real estate is entirely negative, the first real estate investment and accumulation, like garlic, put their earnings in other people's cost of all social wealth is not incremental, is similar to the sub-prime investments, like the evil; Second hoarding causes a mismatch of resources and waste, because the house will not produce consumer goods or the provision of medical services.。.


Continued decline in the market, investors confidence in the future is not sufficient, but no way to retreat to speak of economic restructuring, and the Chinese way of life change is the necessary foundation for the success of restructuring. .


Liu Jun Luo in the know money Club speech-the direction of China's real estate market.


-2 010 Chinese real estate in the direction you also buy a house? (A). .


Speaker introduction:.


Liu Jun Luo: private economists. Mohist pedestrians, the first group of new investors in Chinese stocks, the grandson of Liu Bojian. .


??? ? ? in 2001 oil, gold, agricultural, forest, China prices, copper, water resources will increase 10 times, including the dollar will go into a major devaluation cycle;.


Second, put forward in 2003, the future revaluation of the yuan, is resolutely, deep in China will be a serious asset bubbles;. .


Third, the stock market in 2007, thousands of points 4, 5, China's stock market will crash of 2008 and will end 2000 points; and China property market will end in 2008 into the craziest final master rally;.


Fourth, in September 2007, Mr. Bernanke's Fed raised interest rate cuts soon action will allow the global economy into a global depression;. .


5. on November 5, 2009 Edition of the book to the corner of the world under the price clearly raised — 2010 dollar trend and 2010 China property market direction.


Text Record:. .


The leader: Dear friends all good afternoon, Mr. Liu is I very much admire a teacher, so I myself. First of all I would like to introduce myself, I know the money Club to the monitor.


I remember the Lantern Festival, Beijing, under a snow day, snow day Lantern Festival I say: This is the final winter snow. They can not, under a couple of days of snow, and today it snowed, so I think that accurate prediction is not easy, the weather throughout the year rule. Today, I can not say I was the last snow, but most likely the last snow. But capital markets are relatively more difficult to predict. Just now we know the money to Liu Jun Luo teacher staff made some accurate prediction in advance of introduction of the worship of Liu is not too good, the key is that everyone should create their own unique ideas. .


The following do not miss Liu introduced too many, I think everyone on Liu some hope that Liu frank talk to more knowledge. I want to go to the Chinese way of thinking of a number of issues are always inseparable from the "home" and "country" and "world". Please Liu on three levels around it, first of all say that "the world". After the financial crisis, we are most concerned about is the United States and Europe. For example, the recent rise in the euro, is reverse? as well as Japan, Russia will eventually developed into what we are concerned about "the world".


The second is the "country", I remember the end of 2008, when Premier Wen Jiabao approved a lot of credit, resulting in a real estate bubble, the next will be like? China's economic trends likely to be? . .


Finally, there is a "home" in globalization today, how their property effectively financing, how to make money? in English, in addition to there House. Now is the time to buy or sell a House; our gold, bonds on the international market, how to configure the? I think this is all in the "home" on the level of concern.


The following are invited Liu to applause wonderful speech. .


Liu Jun Luo: I think you can do is open up thinking, you need to make a variety of investments. I think we might not be able to understand the market culture. I say sometimes wrong, I think this thing is for sure; I think understanding global culture is very important. Many people do when they invest in foresight has limitations, this is subject to our previous education. Like Japan, China, Russia, the United States, most of them are the same of cultural exchanges, probably in this process will give rise to some problems. . This is no way to foresee, but also they have no way to foresee problems. Because investors thought by some excellent control of the elite. .


First, go into the global market.


We in the global market, to understand a structure: changes in many markets is bound to happen, the main issue of time is we can not change. Now I am not very optimistic about the housing market rose, as it has completed the process. China inflation hedge when the savings are irresistible. .


In early 2007 when the Chinese Central Bank's inflation, but you will see the global market, the 2001-2006, the global economy is dependent on financial innovation products is driven, in particular the United States. In the first half of 2007 in the wake of two assets. In 2006, the trade deficit is high, it can be said that reached the final stage: means that we may in 2007 and 2008, the global economy will encounter certain difficulties. In 2007 our anti-inflation, then point at 4000, 5000, then I am sure that China's stock market will collapse. . Now is such a role. Now the central bank anti-inflation again, I feel it is like "the pain is forgotten." .


The entire market will depend on the American market to pull, 2001 — 2006, buying a car is lingshou. Buy a second-hand car, maybe tens of dollars is enough. We do not deny this is due to technological innovation. We have to understand that America is a highly innovative cultural society, it can be said that the money system is great, this is the American society. It's evolution is the result of minority control, 1% control 70% of wealth. America's Gini coefficient and China are the same, but more than China. . Microsoft is started from the beginning a few thousand dollars, which is we see the nature of the U.S. market. .


* Endowment Fund.


Smashed down the stock market after China, the world has a promotion process, we implement the Keynesian and monetarist. In September 2007, when I talk about the Great Depression, we know that the Great Depression after the central bank would rescue the economy. China's savings against inflation is bound to be configured, what tens of trillion of savings into place, this is our most spectacular views. I feel more than ten years ago, the existence of such a fate, but there is no way to solve this problem. Now we see that in 2009 house prices increased by 50%, and now it's this mission has been completed. .


* We'll take a look at the US dollar.


Since 2001, the depreciation of U.S. dollars into the great cycle of the process, the depreciation of the process to have a strategic requirement. China's stock market since 2001, hundreds of millions of workers into the global market, in terms of what the U.S. central bank concept? Only the output of a large number of currencies. George W. Bush took office with the slogan "the tax cuts stimulate the global economy", why? What is the concept of hundreds of millions of workers? Capitalist market has seen such things. The American people to make money, and multinational corporations to make profit, this is the big depreciation of the dollar must go through the process. World is in the configuration, we see the extent of China's capital market hot.。.


* Japan. .


Japan has 10 trillion deposit, now Japan's national debt is 890 trillion yen, and this is no way to run smoothly. There are two important in Japan, we see the Japanese made mistakes, when this error occurs when we try to survive. What's wrong? Japan in high-end products to compete with the United States, and the low-end products defy China. Now the Japanese manufacturing industry to dig ore and gas, shipping, etc., many of which are Japanese. Innovation is always necessary to reconcile, Japan's unemployment rate is low compared with developed countries, foreign investment have 3 trillion, this is not a good sign. . .


* Why do we have to study the Central Bank.


What are the requirements Greenspan, is to a large collection of data, even if the data should also collect laundry. Now the central bank is only a concept, that is to follow a theory, this theory is that we can follow. Now society is progressing, has been out of this theory, and as our trading system, CDS, 60 trillion in CDS, in the next two years, many people might be jumping for the CDS, but many countries do not understand this product. .


This is the wealth of Americans, we have to understand the roots of American wealth? we want to understand than the Central Bank CDS, Japan, and India, and from their thoughts find mistakes in the future. If you break it, you may earn money? this is contrary to the principles of capital, capital creation. The Government in the maintenance of a minimum standard of living, the principle of survival of the fittest is the capital, this principle is not likely to change.


We go back to Japan, Japan is fighting on two fronts. Two-line operation is very painful, high-end look at the Americans, low-end elimination by South Korea and the Chinese people, the entire system to maintain tolerance in large enterprises to small enterprises, foreign investment is difficult to enter the Japanese market, Japan can develop a lot of nice toys and cartoons, This is what does that mean? It requires a most efficient scenario. Japan's labor productivity is far lower than those the United States, its budget deficit does not turn over the room. Now the Japanese began to approach the EU tax, which is a very serious problem. .


The next 2 years Yen the trend what? I why is China's price in the next 2 years will surely collapse? Japan this country is very terrible: the manufacturing countries close to bankruptcy, we should take into account the fact that China's problems. Yen process is how the? the Japanese bond market, only 7% is held by foreigners, 70% of Japanese banks insurance companies, pension funds, nearly 25% are private. The bond market is the maintenance of the Japanese people. Like the US bond market collapse, you might consider to Chinese people lose money, or Japanese lose money. . People are not fools, economic growth is bound to have a self-adjustment process. Terms to the metabolism as an empire - take the risk of globalization, that is their goal. .


I believe that the Yen's exchange rate in the next three years to go to the 1: 200, but this is a macro-objectives of the United States. The United States in order to reduce the deficit on a large scale, encountered a major problem of inflation. Now the global market is driven by the United States. This results in the United States there is no inflation.


World War II, the U.S. economic take-off; Vietnam War, the United States bogged down in inflation. At that time the need for change, and then large-scale change, tax cuts. When they first inflation, the U.S. has bid farewell to inflation, and has entered the global. The bottom in terms of the United States needs to keep prices down. Now 10,000 U.S. dollars to buy Japanese cars, and 1:200 of the exchange rate means that 5,000 U.S. dollars can buy a Japanese car, the poor man can buy American cars in Japan, which also shows that China's products are eliminate lost. .


Therefore, we must remember that 10 trillion during the configuration process, they will configure gold, RMB, euro or other currency? all the Japanese people have to face a problem. Japanese culture is the collective. During the war, and nobody to surrender, he will not surrender, too. Americans in World War II had successfully shot down and found that Japan is the most difficult, because the Japanese resistance so tenacious, tenacious to you to read. The United States is very difficult to Japan, later discovered that ruled Japan is very easy. Because the Japanese surrender would collectively surrendered, this is a Japanese character. . .


I absolutely oppose to bear market looking for investment opportunities. I think that in your life can take 5 or 6 times larger rally is sufficient, so you can change your life forever.


You think about 1% of the United States controlled 70% of the wealth in China is such a phenomenon, even more serious. What is this concept? We talk about China's wealth is meaningless, because it is not working and innovative. We should not complain about the system, we in this system to find the mistake, because you did not complain of any significance. You find a big upward move U.S. dollar will be very terrible. .


I think in the end of this year, the dollar index estimated conservatively will stand at 85. If I can judge correctly, you will find in the next two years a big dollar rally and the dollar index more than 130, an all-time high. This is a product of the American people, wisdom, we cannot say that the market. You should know that this community is a small portion control most of the people, the majority of people are brainwashed, they will never synchronized for a transaction.


2008, many people see an empty house, when in 2009, when the house rose up so many people buy. They just market a straggler, the principle of capitalism is the small number of people to make money, most people do not make money. Europe is not the stock market, there is no bubble, most people can not make a fortune, which is the average of social welfare. Japan selected the Japanese culture, Europe, selected European culture, they have to pay the price for this culture. This is inevitable. .


My early last year, write very clear: Europe is the second currency, the market hasn't looked empty euros.


Europe must be second-class money, not globally competitive, 10 years after the development of good will. The yen in the process of configuration, I think the impact of the community is very large. Overall, most people think that the U.S. is very bad, and I do not think so. United States, 12% do not work, these people make trouble financial products, military, agriculture and so on, doing nothing can still control the world. .


Now China's sovereignty over monetary possible?-what is sovereign monetary concept? must have a concept of one country is willing to support this currency risk. Adventures of China is willing to support this money? thanks to your payroll cost there is no way to support this, the only export in exchange for currency. Thanks to your education, industry is not able to change this phenomenon, is a sovereign monetary theory and monetary, it is not possible to become a real currency. Only people willing to buy the currency can, it is impossible to produce this kind of currency.


* Why should the U.S. trade deficit, advance globalization, he will understand that: my money Quan is one such, the United States believes Ba after being money controllers, Ke Yi to the British, French, Chinese people do something, because the world is Ta of. If you talk about globalization, the development of better words, over ten years, the United States can control the global service industry service industry. The United States as a whole is in the "de-industrialization", which requires a lot of resources to play brain. In American eyes, the automotive industry is a backward industry, and slowly eliminated in the United States, 30 000 parts before they can be installed into a car, and now the car standard has not yet come out, in the end is not determined electric or hybrid.。 Automotive industry accounted for 4 billion dollars in the United States, there are 100 million labour force, about 400 million is the sale of motor vehicles, the United States, there is no impact.


The United States to save car is very simple to squeeze what you can save the tariff. 2008, Japan committed a wrong, they began looting the assets of the United States. ASEAN bankruptcy in 1997, when the Japanese were breaking in the Association of Southeast Asian Nations is the most powerful. Japan now accounts for 3 trillion of investments overseas, Japan is in terms of disaster is a disaster for the world, it is inevitable process. .


How do we make this inevitable process, time trends may have a problem. But is bound to happen. When buying the assets of Japan, Japan, everyone will keep their retirement money. We look at the 2008 American performance is very bad, and now we look worse than in the United States in Europe, and China's property bubble than in the United States also have a problem. What is the reason, Lehman is 200 million, 4%, why not save Lehman? they have their own ideas.


* Appreciation of the RMB. .


We also noted Obama to the appreciation of the Renminbi, why the appreciation of the Renminbi. First he met the Dalai Lama and then and Taiwan arms sales, and finally on the appreciation of the Renminbi. If you really want to appreciate him in the use of cultural control us. Now all the Chinese people think the appreciation of the Renminbi, you know, if the yen 1: 150 or 1: 200, appeared on a 50 RMB rises — 100%. Now the price is not moving, our appreciation of the renminbi is automatic so much, this is the United States in the control of us. . And RMB, look at prices, the answer is very clear. .


* The European currency.


I think the euro in 3 to 0. .8, Sterling fell to 1. From these data we can see the whole monetary system more than 50% against the U.S. dollar's sharp fall, which means that within 2 years of RMB appreciation of 50% of the entire market, not our appreciation of the initiative. Our position at this point rose by 50%, as soaring U.S. dollar is very simple. In the Great Depression, when we can see the Great Depression of 1929, all currencies against gold are dropped 50,60%, or even 2,3 times. Francs or more powerful, or 10 times. What is the reason? After the debt crisis of the market, private capital will attack this system.。 Where, as in Greece, including pound sterling are spread out. Some things like this would be relatively certain assets to depreciate the 50-200% or more, such assets are gold or dollars, u.s. dollars, and now the gold is not the currency.


Now that all the attacks on the currency, then the capital, only holding dollars, gold is no way settled. No one in Europe or when the Great Depression, when buying gold warehouse explosion, it is impossible to happen. The most direct way is: buy a short-term U.S. Treasury bonds, suggest that you should not buy long-term bonds. .


After the occurrence of these configurations, for us, we want to understand this process. Future global flows of several trillion? I said a culture can change everything, all financiers, hedge funds can discover errors, and so they found an error when changing the configuration, we need to do this configuration before them.


Copper in more than two thousand dollars when I think it rose to more than 5,000 U.S. dollars. When the fund was China's industrialization are configured to oil, this time ahead of you to configure. If the dollar index stood for more than 85, we should first consider the U.S. military unit. If the second half of this year to 90, then it can be heavily loaded with military share. All the people did not think would be a disaster after disaster, the social system of the Cold War. .


We tell a joke, the United States in the Middle East, very deep. Saudi Arabia, Qatar, UAE, etc are all controlled by the United States, they accounted for OPEC output was 80%. You said Saudi anti-us, we assume a problem: US withdrawal from Saudi Arabia, Saudi Arabia is Hawa than Iraq is Sunni, who was a feud. The United States after their next retreat, the only thing is that a large number of procurement of armaments. Now we must pay attention to the overall strategy of the United States, my span very far, our data is lacking, in this case I might make a mistake. If you make a mistake, it is because of my data that an error has occurred.


We note that the performance of George W. Bush was very clear strategic intent, to simultaneously fight two conventional wars in the two regions. We can see areas of Iraq, Afghanistan region. Ensure control of the U.S. military put the two areas, the Americans put forward in 2001. I think the U.S. defense raised similar views and my views, main battle tanks to reduce their investment in large-scale increase of unmanned aircraft delivery. .


Americans want their arms have contracted, and do not want your stuck in the cold or conflicts, he does not want to use the world police role in market foothold. When it's time to quit, will make the world a great impulse. Countries like China next year arms, may not understand. This is all countries into the process of democratic countries, this is the American people to your layout, America's productivity in the highest military products. I personally think that military unit in the United States is a big rally, United States of conscious or subconscious, amplified by the strengthening dollar. . United States is not the police, who do the police? . .


Be sure to call the shots made investment rally, rally, I think this is a very important issue. Now investors committed an error. As China's stock market was making money, some people don't make money. In 2007, when everyone makes money, 2009 all buy a House is to make money, even to buy a house in Inner Mongolia also make money, this is the configuration process. I bought the variety if global top varieties, all of the hedge fund configuration, like copper world oil, the configuration of the network technology, they want to put all the money to buy these good things, they found that these are good things. . .


I think if we look at the dollar index, I think that in the month of June 5, there is a big breakthrough, guard at the end of this year, the US military has 85 2 years, but the price so that we don't understand, like the Chinese house price now, not simply go up. All underestimated the Americans are unwilling to do the police, at that time very unrest.


Second, we look at China. .


What is the problem in China, we are not looking for the entire heating process of China's economy is affected by a whole of government departments. It is the systematic promotion process. Please do not forget the former Soviet Union, he's GDP reached 80% in the United States, including areas such as physical air very sophisticated. Now China's social problems happen, all configuration of trade should be the optimal configuration, it is not possible for us to go to management, interference in the market.


2003, Mexico accounted for 3% of the U.S. apparel market, when in 2005 accounted for 3% of the U.S. apparel market, China's apparel accounted for U.S. apparel market increased from 30% in 2003 rising to 80% in 2009, our basic occupation of the U.S. apparel market. Why in China, and China's lower wages than the United States, which means that lower-wage countries is likely to destroy China. We can say in the petrochemical, textile, steel, machinery, gained a lot of room for growth, are formed by low-wage strategy. .


We also saw the beginning of 2001, the former Soviet Union, Ukraine, ASEAN to behave erratically, and are hopeful that this allocation of resources. Including India and China and so easy, in India's relocation cost is very high, you have no way of moving. Now the results of this configuration, the China trade surplus time for us to be a great tragedy — we aren't optimal configuration. We will likely happen unexpected things, global trading products to a much lower than in China.


We petrochemical products, for example, in the Middle East petrochemical cost is 30%, polypropylene is 70%. What is the situation in Saudi Arabia, economic growth of 1%, 2% of population, population, unemployment rate now at 20%, 40% of young people in the future. After three years, about the Middle East, dumping 16 million tons of ethylene to the world, not previously occurred why? Engage in a lot of water in agriculture, now Saudi Arabia exported wheat. He completed his agriculture after the transfer must be to heavy industry. Saudi Arabia's oil now costs 5 dollars a barrel. We had 3 years of oil may be destroyed in other countries, it is common sense, this is not a jokeNow 100 million garments for export in Viet Nam, China export garment is 1700 million. If the currency devaluation, Vietnam? Vietnam over the next 2 years the process of large depreciation of the currency, this is the inevitable process of worldwide experience. In terms of China's clothing is not a good thing.


It was noted that Ukraine's steel industry development, by 2003, Ukraine's steel fell. Production of steel is also the former Soviet Union countries, the social configuration would look like, this is the problem faced by China. I expect the yuan is 1:20 in the 3 years after the end of this year dollar index of 85 or more words, the yuan is 1:20. .


I was young, my aunt said that 1 million rubles to 1 million. 199 years 1 million when Rob can exchange $ 1, 1997, who believe that devaluation of the currency. In 1996, when the International Monetary Fund (IMF) evaluation of ASEAN is the optimal monetary system. Demoted down to 1 million, then go down, then to 2 million, and then break off. If the currency devaluation, started the trend is not a person can control the price.


I think we can look at this piece of official reserves, if determined want to change below 2 trillion U.S. dollars, do not even want to go. The most likely problem, we can not timely release of data out of that time reported below 2 trillion or 2. .3 Trillion, is also a disservice to you. The dollar index is 85 this year, now about 80, I expected to be 85, which is an important signal that we understand China from this structure is too fragile than we imagine are horrible, not just free trade allocation but by the government allocation. Government allocation of the results, all of the township government can engage in real estate, a village chief in command of the economy can be.。 In 1936 the German people how much money there is no inflation, malignant, 1 truck of mark changed even a loaf of bread, 1 billion mark. I think we should pay attention to asset allocation, to see the essence of society, not to be a lot of people, the most terrible is that people are now buying a House is brainwashed, 2 years will jump from, this is a man of sorrow. Buy discount, many such people, you can't change the present situation of the community, this is the inevitable things.


You see the American society is so, there has been large fluctuations. It is for metabolism. The United States is an empire, the Empire's primary objective is to maintain metabolism. When the stock market crash of 1987 occurred in 2001, the Internet bubble disaster occurs, disaster occurred after Greenspan took office. In 1990 the United States savings and loan bankruptcy 500 000 000 000, then the assets in Mexico began in 1994, the collapse of the 1997 Asian currency collapse, and then the collapse of technology stocks in 2001, now into the 2008 crash. For the U.S. it is not what the big crash, and the only access to the industrial age changes.。 India Mittal control up to 10% of the world, this is not possible. Our steel investors together, like the "steel" together is good. We are the human sea tactics, the assets in China is very terrible. I can't guarantee 3 years to 1: 20, I think the future will certainly to 20, which is bound to happen.


Many countries is one such structure, which is no way the things you want to develop the Chinese economy, we must find economic potential. Economy is to pay attention to efficiency, low capacity and ready to be discharged, such as Baosteel, China Mobile and so should be discharged by the market, but now more and more powerful, this is our tragedy. .


Commit collective error, we can only call a few words in the whole of the crash of a porous, the global economy and the prices in the United States. We also see that the world is not so tragic, it has a big dish-washing process. Like the great depression in 1949 after many countries great take-off scenarios. We see in 1935, the United States is more than 10% of the GDP growth. I think that after you 2013 world there is a big rise in the resolution you want to keep an eye on this government debt. Government deficit rising is the reverse of the era.


American Internet stocks in 1992 and 1993, when rising U.S. deficit marked the beginning disappear. When the government began Fanying the time, the United States of innovation is always a small market, the Government does not Guan Xinda the market, always Yao establish a legal system, to control Longduan those who also is the monopolization, Baochijishu innovation will be the Jingjimoshi Yin Jin Xin years. New scientific and technological innovation can change many things. Like Wal-Mart, with thousands of dollars innovation, as well as Google. Now only the United States in the next fiscal deficit was sharply down. China, Europe, Japan and some other countries, the national budget deficit is rising sharply.。 Future oil prices would drop, how will the future concrete? I'm not a good judge, because now the oil is Goldman kongpan.


As long as the war broke out, after the outbreak of the Cold War is in a time of war, copper soared and, later in the fall of copper, we have to prevent this process. China's property market collapse is not that we do air. We have to take good money to do big upward move, there is no way this is controlled by Goldman Sachs upward move. You should know that the U.S. budget deficit is declining because of its trade deficit shrinking. For him, either, if the depreciation of the yen would make a fortune for America's poor, and unemployed labor or after these, 1,000 yuan subsidy. 2 U.S. dollars in the United States can be a meal, 8% of American wealth for consumption, poor eating very fat.。 If you engage in retreat, be reduced to 3 billion, Clinton to 2 billion. The United States introduced a relief Bill is 1300 million transfer to low-income population. American workers are 1. .6 trillion, probably 10% 0. .16 trillion, you can protect your life.


With product prices lower and lower, the U.S. demands on product prices lower and lower, this is Ford's idea, but also the modern concept of the United States, this is a symbol of empire. When playing down an empire, when the commodity higher, people can not afford that, people can not afford that, you have no innovation, people only willing to spend more money. How to get rich, you can not poor no money. Poor and rich capitalists get rich, which is the truth. .


US Treasuries last year was 1. .3 trillion, we see this year's US bonds is 1. .4 trillion, you put the money issue, it is expected that the global bonds will crash. Now there is a problem, we should pay attention to the point. The United States is now in the hands of a position, Ben Bernanke hands nearly 2. .6 trillion debt. Premises of the United States, the United States is the United States Government mortgage holders, 80% of 7800 billion investment in financial institutions. Now the US real estate market's largest crops is the United States Government. We can calculate took 2. .3 trillion of the real estate market value of bonds.


* So in terms of dollars the next 2 years to go? Any fool knows that, certainly up mad. U.S. dollar next year will definitely up mad, and 2. .3 Trillion of wealth is 2,3 trillion to double book, now issued U.S. products is 60 trillion (CDS), CDS are easy to attack, Italy is also a problem, but he is 1 trillion CDS, difficult to attack. Greece only 9 billion U.S. dollars, the Greek government bonds is 4 100 000 000 000, the Greek government bonds only expensive, but the bond price is set by the Americans. .


We all took note of the point to enter the 2010 time think wrong, Soros do empty euros. Now in the foreign exchange market, who will then say that Europe is a good money, there are no people to talk about. In 2008, when they say that the euro is a currency that we thought were Americans control, this is a very terrible thing.


U.S. housing market in the next 3 years will be how to walk, we should be aware of this. This is a big upward move, big upward move is always by your side, though not in China. China's big upward move is over, as the stock market, the housing market is a big upward move. .


We have millions of workforce investment into what?, 2005, 2006 saw the United States has obtained the right of the agricultural sector in China, there are now 4 million tonnes of soybean to 1 ton of imported about 2600 tons soybeans need water, on average, 1000 tonnes of cereals with water. China's water 70 percent is used in agriculture, which is the seed industry. The natural evolution of the seeds have been eliminated, the country's agricultural production without chemical fertilizers, but relatively low, and that's when a pest but pests don't eat the food, because he has a natural odour to combat pests. . .


We see the iron ore, Australia's economy all rely on China, he has no real economy, that is, the raw materials economy. Later, Australia is a wise guy, China is the grandson. The national average of the profits from sales of iron and steel industry is 2. .4 billion, basically they took it away. In other words we not push the 4 trillion what results, deflation is better for the Government, every home made 1 million will die of Australia, but not the whole, we are monetary control. Friedman, Kerry Friedman, America's central banks do not let them in, but to give them the Nobel Prize. Because they change China, Japan, the European Central Bank. . .


Now the Chinese Central Bank is the anti-inflation, what to do now in Italy, France, Greece, Great Britain, Germany and other countries to make civil servants. Global developed overall industrial standards are falling, rising unemployment, we back what inflation? China rising prices, this is the wealth of prices lag behind.


What happened in 2009? Which one of the houses are up by 50%. 2 million more than the house increased by 100 million, could come up with some money to travel, housing prices up wealth which is lagging behind prices. Workers began to repair the railway and road. 9,10 month, when the central bank to prevent deflation, we need to make preparations for collapse. Key indicators of the rise in 5,6 month, we can see what dollars. That the United States began to open bow, which is no way to do. .


We can look at the monetary policy, from the u.s. to study, what Microsoft and Boeing technology taught you?! we put America's core technology and economics?!, we do not feel sad? have you listened to what I feel after not. We depreciate to 1: 20, 1: 30, when you are feeling. In the community of the great depression, the next 2 years China's inflation will may actually initiate a flush, the M2 is 60 trillion, us M2 is 50 trillion is RMB-denominated. These money? all washing inside the real estate market, real estate prices suck a lot of money. China's real estate market is rising, by other means. . Each person to ensure their assets are not destroyed and can now hedge house, now house inflation hedge, two years after the grain can only hedge. This is a very simple thing, step by step manner. .


[Washing unit bar].


I made a very clear and I expect the market to all, I was staring at look at the issue dollar, the dollar is the world's money supply system. Circulation of the base currency is U.S. dollars to control, you are now 1 year and 2 of billions of dollars flow in. What is the concept? 1. .4 Trillion yuan, 3 times magnification in the banking system, at least 4,5 trillion. 2 100 billion pairs of what the United States in terms of the concept? 2% of the GDP of assets. What is the concept of financial assets? 600 trillion, less than a few parts per thousand.。 Rice self-sufficiency, and many people start money, there are a lot of people than China 's, 4 thousand dollars per capita GDP is less than China, Suharto still. We all know that when a lot of unrest in Chinese were killed. You at that time?.


When we do invest in doing what to expect. Do not think you have to do what he has done what he should know what to do after the next will do. Many home and buying a house is a savings to buy a house for the children, if children are pretty good, 10 000 yuan a month, a house down payment is 7000,8000, and then it began to pay. What is this concept? This is the United States 1. .3 Trillion dollars to buy bonds, in 93 years this government to be overthrown. China 4 trillion is a hundred years. Now banks have 10 trillion, now Bank of China, Industrial and Commercial Bank of China, Construction Bank of China, etc. Do not say money, but next year will be stealing money madWe have to expect that they are doing, they will commit the kind of error. Fallen to 20% of the price will be like. Many economists say nothing, say it is 95%, 20% is normal.


Our market is very fragile, smashing down, these errors were found in the wrong wages, unemployment, the unemployed person had not anticipated what would happen to the whole system results. U.S. Treasury bond yields also rose in the bond market you find a 10% annual revenue, but also to buy a house? No speculation the yuan. Bonds pulled the United States as long as 10%, the RMB speculation is 3-4%, and then again the Japanese currency devaluation that nothing needs to be changed in two years to change all thoughts. .


I think it is necessary to mention that this is a start of the process, I wrote a book, we just grievances, but we can't be very angry. You can't change history, this is the rule, but we must learn from this rule in China do, you need to understand in 10 years, 20 years after what concepts. 10, 20 years of global population to reach 80 million, 30 years later to 90 million, an increase of grain to 10 billion tons of water where? 1 chicken, half a kilo of meat consumes 7, 8 kg of grain, this is a terrible idea. . Stringent requirements on the laws of the United States, to repair repair kind of farming, his farm is not at full capacity now. 1 / 3 in long-term protection, the year 2 100 000 000 000 voted this down. Protection of the United States, all industries of agriculture, to make manufacturing bankruptcy, can they fool you? Absolutely not. We want to know people eat, and you made of steel not to eat more to no avail. Now hit the United States went to Afghanistan, the oil strategy is very clear. India's crazy, hundreds of billion dollars to buy arms, no investment children's education, they are not stupid, we should look at the mentality of power. Let us now think of each country to take off last year when Indian Prime Minister Manmohan Singh about China's growth is illusory.。 Peasants, farmers in India is not a fool.


* Agriculture. .


Everyone in the next few years will see agriculture. Why do Americans play agricultural issues, China's counterattack too powerful. We and the battle of basic to the end of the transmission. Like the United States, the metabolism of generational change at any time, not the next of kin marriage system is a successor model of the metabolism. USA index up to 130, 2 years to grow in the future to all 130, European currency, the euro area lower innovation innovative low for the European perspective is a good thing. The euro will not be broken up and Euro 80 per cent of trade through internal consumption. Greece, Italy is not a secondary currency, the euro financing. . We saw in the U.S. financial crisis occurred in 2008 rather than currency crises. Argentina's currency crisis of 2006 intensified, bond yields were increasingly demanding. The euro is now around 7% may be required, if you are going to 13-15%, the currency of Greece. So in terms of systematic devaluation of the European Council, so you can grab a lot of markets, including China's market share. Europe's market system is not suitable for investment, system is the concept of Bismarck. Its concept is very responsible, he thinks people should be noble life, which is Bismarck's point of view. .


Krupp in 1919 it proposes to provide housing, now Germany benefits you lose your job than you get paid. The German Government considers that the unemployed have low self-esteem and psychological disorders, so you should give unemployed more money, this is their culture. This is not suitable for our participation in the European market for globalization, suitable for the devaluation of the euro, we could see the entire evolution of the market, investors will do what kind of decision making, this is a very important point. European currency was a second currency, the evolution of the second currency for us is an asset, this evolution is important.


* British economy. .


The British economy is very bad, UK listed companies have now 1/3 of the petroleum industry in the next few years the British economic downturn range is very large. Now the United Kingdom and Argentina started oil war, on the whole I think Britain's debt problem in next year's performance is very fierce. These issues are systemic meltdown, the crash might be beyond our imagination, a domino effect.


Now look at China in 2009 imported 100 million tons of coal, the original Chinese exports 20,003,000 tons of coal, and now imports 100 million tons of oil into. Sino-Japanese trade accounted for 20% of Japan's total trade, is the largest trading nation. China-EU trade accounted for 13% of total European trade, the equivalent of 16% in the United States, both in 2009, is a new high. Description in 2009 the economy in Japan, Europe, Australia the economic downturn, are supported by the Chinese, we do not borrow money for holding on. Chinese domestic demand to fall, these people will go down accordingly.。.


2009, Japan's economy has declined sharply scale, the highest record of World War II high, wages are dropping also reached a new high of World War II, this holds for our house is very scary in terms of the signal. That is we only see a result of the anticipation of RMB, out of these 4 trillion is debt. .


From the entire system in terms of Japan, the United States, China, the economy is in decline, the US, China, and in the fight against inflation in 2007 is the same, the first half of 2008, also in the anti-inflation and other us broke out after the Chinese stock market drop done. And the stock market crisis and real estate crisis there is a huge difference, real-estate crisis in the stock market crisis lever without lever, lever of global stock market is very small, are saving money. House loans to fall when there is a problem with the Bank, the real problem will be more than six times in the stock market in China I think should be greater than 10 times. Therefore, many of the problems is not that we can imagine, we would like to see the nature of the problem.


I made very clear this nature, the United States to its goals there. We can see 5,6 month U.S. dollar index, which is a reference. U.S. dollar is the American control, we will not deny our idea. We look at the price of the dollar index end of this year, standing 85, I'm sorry Chinese bankruptcy. My blog has been written two days more, and I want to see is some of the issues and we talk about, we can understand the issues from a wide range of systems. Many people can reference to make investment to listen, you understand the problem, data, and your education system have a direct relationship.。 Once a bankruptcy, the community will always be a few people to make money, that cannot be changed. When most people buy the assets when we have to think about what the concept of short? this is a terrible problem. As it can be said that in 2009, it is not short of short now? this society is short, it is not foreseeable, our data come from different sources.


According to my analysis of the data bear terrible, the whole market up when there is a great short. Hong Kong when 199 years, rose to 10,000 points, when the United States is short. From 30 000 points, the Nikkei up, short is the Americans, long the Japanese, was recently rose to 7,000. Short that we can not foresee, and now we know what to think about the use of the concept of thinking, in 3,4 months time we find not the euro, which means that short there, and we also understand that short, they have the layout Okay. .


In 2008, this partially down, we would like to have a premise that all economists expected, why not engage 2008 acquisition mechanism, in 2009, 2010, the debt crisis, and now this year the European debt can reach 86%, including Greece to 2015 will shrink, all people are unemployed, government bonds, this is the inevitable process.


We are constantly issuing bonds, has "Paul 8" successful. But we know one thing: the society is not so simple. Americans spend 20 billion could save Lehman, but why not implemented? You need to know this: there is psychological pressure on policy makers, but also emotional. The most sensible decision-makers will always be criticized, the best decision-makers to resist stress, social stress. Kuerzuofu you see in the fight against Napoleon, when Marshal psychological pressure, and retreat and then retreat - let nature to destroy Napoleon.。 Therefore, they also have problems, we want to see their numbers. But if they do, I'm sorry we have to consider their own assets.


】 【Host our activities on here. Thank Liu wonderful speech. .


To monitor: I'm sure there are always some causal relationship, on behalf of us to carefully and ask questions. I asked question after we can continue to ask, if the night is willing and Liu dinner so you can participate in Buffett's dinner. I found many of the predictions made on future projections home, Waterloo, generally speaking, many economists are doing the last forecast is incorrect. Liu you believe your this prediction is the last time? (smiling).


Liu Jun Luo: I do not admit that my prediction is very accurate, I am in the Atlantic, the Pacific sector rotation in the understanding of potential market volatility. I am very confident in my assessment, I can give you a clear goal, in May is what, in October of what the central goal, and then forecast next year's target. I believe my data to the data than a lot of people, before I lose money because the data is not enough, many people in Shi Chang for experience and we will definitely have the confidence to be successful, Dang you Shibai the 时候 can accumulate experience. Do you have strong beliefs have the possibility, we have to believe that survival of the fittest. .


We tell a joke my day to eat meals in the morning, noon and a good meal. I think in this market with a high degree of risk. Many people in the investment process in their own hard-earned money, if predictions wrong description I have no sense of responsibility. We can look at a specific layout, I must determine the future direction and I am very confident to predict the future 2 and 3 years of development, since I saw you do not see the data, may I see Japanese as well as by the Central Bank did not see the data, we must study their systemic problems. Like slope Lombard make low-level errors caused by serious consequences is inconceivable.


Liu Jun Luo: Enterprise is the national defense, awareness of the Cold War is very terrible, you know more than ten trillion of assets in the United States military unit is not configured. Market will require them to strong configuration, as we enter 2009, a Chinese savings. Like all portraits polyneuropathy to configure the assets, no one believed that house prices will fall. After fleeing the Japanese yen will go crazy like government bonds, will find all the contradictions of this society is very great, for example, publicity about the transfer of war or threat of conflict. Chavez is not going to play, and now spread all over the United States to attack Venezuela has.。 2, 3, they only take this step, they are not likely to jump on the circle, he will take the initiative to say that I do, this is not realistic. He and Colombia now fight the cold war.


Now China's real estate collapse, the whole market system, what will happen, national system of what happens, you have to see what the next step in the trend, it is inevitable process. .


To monitor: this is Liu about for the future of China, I have a little doubt also is not the same, I was naturally optimistic person, I'm on China's development overall optimism. Mainly based on the following four reasons of course which also includes the price, I think China's focus is on structural adjustment, in ridicule before. I was in 1971, after entering the community from 1994 to participate in the work. In my work has met many of the Prophet, there are those who predict the collapse of the Chinese market, there are probably more than 10 times, and never crash. . For example, this export-oriented from the type of changes to the domestic demand, I have observed many changes occurring in society. For example, China is now the most poor, rural, peasant farming that do not pay a penny to the state but also the subsidies. Water road repair to the door of each one, bringing home appliances are real. Why can Gree up so much is because farmers in the purchase. Some electrical appliances in the most remote town in rural are now even more so that we can not believe that you can really see a doctor now claims farmers, neighbors, my home is like this. This is the real thing happened in the village.。 China's farmers don't have any burden on farmers ' House now, you can build a House for State-subsidized 1 million dollars, so to speak in our rural roads on both sides, the so-called City so-called detached villa, that is, every year return to feel great changes. Therefore I think China should transition to the domestic demand could do.


The second international price comparison, although Beijing, Shanghai and Shenzhen in the three cities are not only local residents are pushing for the pricing of international capital, I think it is very comparable. Housing prices in Beijing and Singapore, Hong Kong, New York, if compared to international urbanization, and some only reached half. This time it will collapse? . .


A third of China's urbanization now just to Midway, 30 years of reform and opening up, there are 2 million peasants, including our on University of farmers. In the next 30 years and have four billion people to the town, this huge demand, what makes the real estate crash?.


Fourth, you are talking about culture, I actually had an angry youth. I used to be an admirer of American culture, after the financial crisis, I think the United States did not state that a bunch of capitalists, the organization generated by the last consultation, I think it's countries and China is not the same. The reason why this financial crisis is because it produces more control too little led to those gamblers who bet too much. Everbright Bank such as financial institutions bet too. China is not the case, the Chinese government's strong leadership, representatives of Confucianism focused on coordination and harmony of this information can quickly turn the situation around. .


If in 1664 points when the Government does not save the market, now seems to play a little bit too far. Forced to play a bit of needle-like so many people got a little crazy. If you do not help, could result in millions of farmers, the consequences of unemployment may be more serious. Based on these four aspects, from the point of view, China's economic development entity throughout China's problems I'm confident that I'm talking about these Liu feel justified?.


Liu Jun Luo: First of all, I am not bearish on China's property market has been, I have seen a lot in recent years. Including 2008,2009 years when I was looking more firm in 2007, when China also called on everyone to attack the property market, we do not see it grow, it must have a growth. As exports, consumption, real estate promotion in these areas, and promote exports is not no way to go forward after it. In 2006 the United States often high, the U.S. economy needs a big search, that is the government. It's driven by real estate, it is inevitable process.。 Over the past few years, I am not a prophecy and the collapse of China every day, every day I predicted China price to rise, up to you to read. I'm only today but predicted that China price to collapse, and the collapse of that society a lot of people every day, someone in the United States in the collapse of the prophecy, in Europe there are every day in the collapse of the prophecy, 1992 said the UK will not be able to join the euro, euro to collapse. Any aspect of prophecy there too much, but we're all on the issue.


First, we must be aware that prices are up, and why the price? We can see the pressure, urbanization, 45%, according to our theory in terms of house prices could continue to rise up. Now I have and all that clearly, the central bank's data is limited, is definitely limited. We present here, no one can think of issues, including China, Japan, developers, and their way of thinking more is limited. The collapse of Japan in the near future is the real crash, if the Chinese brains, there is absolutely such as the collapse of the Japanese economy to take off in the launch the whole.。 We are the global market to be serious about this issue, Japan is definitely dead, see empty the Japanese people are very much, this is not in the United States share the blame on, as for how they died after our assets to grow, what is the benefit for us, only the United States is doing research in this field, but China is not know. We're talking about a problem of not knowing how to have the confidence to make globalization, I am now very clear answers, 7, 8 and 9, in the month of October, the Chinese Central Bank does anti-inflation, a few months, 6 months almost answer! I also hope that we can listen to the views of both sides, I give you all of the time period. . Soros is not just bearish, he was only in March this year, China's housing prices bearish, you can search for what he did not say China's economy is not good, but my thinking is exactly the same. We thought the Americans thought the Jews, the United States Jewish community, they play the capital, playing to your home. .


I have also talked to see cultural control, Obama and the Dalai Lama on arms sales to Taiwan, and then on the currency appreciation, because he did not know that you will not be appreciated, in essence, they do not want. Really appreciated the economic problems, the Chinese people are going to say it's Barack Obama. Now the Chinese people not affectionate appreciation may cause the economic collapse. Obama is due to the appreciation of the Chinese people are not willing to lead global disaster, let someone else is in control. Krugman to exchange rate war now, China is not responsible for the country, we see these things? we can only be they control.


To monitor: I have a different view, for example, the depreciation of the euro against the dollar, exports to his advantage, why did not the media accused the European currency manipulator. Conspiracy of the financial crisis a few days ago a U.S. hedge fund managers to go to our club, we talked a lot. He is the representative of international hot money, that he complete a university in China, studying in the U.S., there was always work, but also 60's people. He was, and I say that this exaggerated the role of international hot money.。 I've been looking at the history of the US stock market, in fact, the US stock market is one of the foam and shattered. For example, the recent subprime mortgage foam is produced by traditional assets — the real estate bubble in this way. Prior to this, the foam is the Internet bubble, from 1000 to 5000 points and then fall back to a point 1000 points, resulting in condensation on the Grand Canal, railroad stocks, car unit, steel unit. The Internet and the subprime bubble is that we are familiar with two foam, foam generation and shattered and huge oscillation is the normality of the stock market. At that time, Americans didn't say manipulation by others. . I feel that this theory may be in China since 1840 by people from the oppression of bullying used to, that is they are second-class citizens, that they are being manipulated, in fact, the market, the result of millions of common game. I think that the international capital market participants, not a manipulator, they are the market's judgments and China's many organizations Yiji individual investors who might as Zhexie. I would like to explore a bit and Liu. .


Liu said content I agree, I mention these matters is not to distinguish and Liu, mainly to personal financial management, in order to let everyone know the truth.


Liu Jun Luo: I think this is a good process, we need to know that America's bubble - business models change. It is just a commercial to promote the model of change, this is the point we want to know. Even if the real estate bubble burst is an extension of a financial product he created is a very beautiful species is very great variety in the future, he set a lot of investors with different needs, reducing the cost of home buyers, reducing pension fund operational risk. It just brings an innovative model of a problem, like the Internet bubble. .


Now China? we are not promoting technical progress and a technical foam and promotion, we are only to urbanization, including construction of large industrial, such coercion is a configuration is very terrible.


Now some people talk about conspiracy theories, I do not talk about this topic. The reason is very simple in early November, when I talk about the United States, the overall strategy is the U.S. dollar in 2001 on soaring, we can all see that this is Soros Air Force, now all the market corrected in March 2001 that the euro is a second round other currencies, even worse, that the euro to collapse. Really no plot, the United States is natural wealth, good fortune can only say that the United States. I can also say that their conspiracy theory is wrong, the United States is a coincidence that God take care of the United States. .


My bad judgement US dollar rise is not a conspiracy, not offensive, George Soros CBS hypes just Greek CBS 5 billion, in 2002, the CBS is a Goldman Sachs to Greece. These are the secrets of the mastery of Goldman Sachs, Goldman Sachs was playing with their own customers. Skyrocketing housing prices in China when nobody is playing with CBS, because there are risks. Such as rising time out, 2003, and 2004 's, Americans will not be so stupid.


The Greek thing? I just talked to soaring U.S. dollar, can be said that in November, when many people think the dollar will rise, the global number of people think the dollar will go up, basically. Soros realized that dollar, he did not say, just do. But I said, he might sooner than I expected, he is said to be short selling the euro in March, this is the problem. We do not see the problem this matter, and now the Americans are the result of the amendment. Now we all know that China's housing prices rose a bit after it, we all think that the euro is the second class of stock, this is a problem.。 In 2002, 2003, when it launched in 2007 and 2008, as we all know what happened, especially in Dubai. In 2007 or 2008, playing the market when we all know that the Dubai debt problems. China rising house prices, Dubai. We can imagine this is a coincidence.


For China in terms of our nation is too strong, there is no way to play conspiracy, there is no other way, we can look at how the U.S. dollar this year, is one such reason. .


The leader: I remember that in the course of the financial crisis we are talking about the most is the devaluation of the dollar's long-term, the US dollar will crash the system? simple criteria for judging how much a country issuing currency, you can create the wealth that corresponds to the number of? I remember at the time of the data is not very clear, as if in a few years later, the United States in 2001, only interest on national debt also. Therefore, the depreciation of the dollar's long-term have enough data to support.


Liu's talk the U.S. dollar today, and shares high reversal, he made the reality of the economy, from an economic point of view of its performance of the country where wealth creation, or simply a plot of explanation? . .


Liu Jun Luo: we want to know is whether America's economic growth is much higher than that of Europe, Japan, the problem now is to go to industrialization. Now the trade deficit is 5 billion, only accounted for less than 4%. We know that the United States national debt interest and the disintegration of the 1939 when compared to what was very ill, somewhat similar (the national debt interest debts). We know now is low interest rates in the world, the United States is a debtors, it needs to maintain the low interest rates. U.s. subprime mortgage crisis many debts, 2, 3 trillion of debt-for-all is a low interest rate. United States taxation standards than Europe, Japan, the United Kingdom to lower it. . Germany, Japan, Europe has such a large-scale insurance expenses. .


Generally only the u.s. health care system in 20 years to deficit, Europe, Japan began to appear. But the performance of the United States, it's very strange medical spending 10%, only 9 per cent in Germany. Germany is 3000 euros per person, China is less than 100 euros.


Now, if there is sharp down to the whole community Adjustment or the U.S. dollar index rose sharply, then up, China 2. .3 Million migrant workers. These people walk in the next, I live in Shanghai, I think this is a problem. We can go to find out how the evolution of society? Mr. Ma Kesi predicted that Britain, France destroy capitalism, discarding the French and British capitalism has not been eliminated. The reason is very low rural population, population transfer wealth to the industrial capitalist. .


We do not see us flexibility to grow and it controls the financial products CBS 6 trillion. Global 600 million financial products are controlled by it, which is wealth, we do not think that this is not a fortune. Now Europe is a tattered currency. Do you think Europe plummeted u.s. stock market, how do you want to know the wealth of configuration the United States also lack, at that time, Japan was the eldest child (1989). But you know that Americans have won a large number of industrial band gave a deficit shrinks it crazy? 1992 network technology is how to take off? "he did not control the low-end industries. . .


Europe, Japan, the United Kingdom is price control, there is no way to compete, we need to look at it the entire system, and it grows more elastic. I remember that in the month of June 2007, a friend of mine asked me a question that China's property market is so high, rising up is no turnover? I said, you're in the process of saving outfit you will worry about turnover? people is not a fool not to buy. We see the 2009 people is..


If people buy a house in 2009 to make money, and the next 2 years may have to rewrite the history of capitalism, because most people in the capital market to make money, and the conditions of low labor productivity in the process. Capitalism, all the rewriting of history and civilization, in principle, have rewritten. So sometimes I do not like the terms of the debate on energy is consumed. We see the practice of Soros, Southeast Asia, the United Kingdom is lost by his play, he also participated in the debate on. Now in the capitalist market system, no one in the euro, this is a very scary process. Europe's currency will be returned to Greece, Italy and Spain will increase the overall debt of the demoted down.。.


You may think I said too extreme, it does not matter, you can see the outcome after 6 months. 2007 when he was very extreme, and now I say very extreme. But your mind to think about the Jewish question, the answer is very clear. Tens of trillions of financial bonds, and now the financial control of the market. Just talked to the squad as the hot money and not make money. Multinational companies in the industry in the process of configuration you to the most low-end configuration, can not configure a success? Now fully assembled large-scale, human assembly. Japan's high-end manufacturing, Korea and China in the low-end manufacturing, which is its victory. .


Now all the people you want to find a market, this market is the United States, the United States. How to take us next to good judgment.


To the squad: the trend on global stock markets? For example, the movement of Dow Jones, A stock's movement? Hope to listen to your opinions? . .


Liu Jun Luo: If the 5, 6 month US dollar index is up, I believe that China's June 5, there are risks associated with the stock market, we should pay attention. If the 7-10 months if the people's bank or the RMB is not present, we should know what the stock market.


I am very optimistic about the next few years, globalization, such as when the Russian collapse in 1998, but the U.S. capital market is skyrocketing, but the boom of the process, we see a lot of information. A lot of information is too large problem, as we saw in 1997 the ASEAN monetary system collapse, why would collapse? 1994, foreign exchange reform. The first 40% RMB devaluation, the Mexican crisis in 1994, so in terms of the global allocation of capital to Mexico, from Mexico to withdraw. China's banking reform was also a lot of bad debts, and no large-scale configuration China is the configuration of the ASEAN, ASEAN engaged in stock exchange (1994-1997).。 In 1998, when the Russian capital company died in 1994 of China's exchange rate regime. We do not see a lot of problems, but it will surely break out certain problems, this structure is irresistible.


China's property market, as you said, I elaborate on that. After all, tens of trillions of assets to use to do one thing, but synchronized, their culture is synchronized. They are doing it you know this is a disaster, they are doing is actually a bubble. You can make money, earn money to read. 2009, not able to understand this big upward move. I have been on a huge upward move in China, the largest upward move is to read all the big upward move in the housing market. .


In other words in a large number of savings in the process they had made a mistake, specifically is not their errors. They will go to do so, the Government would let them do so, they will desire to do so.


* Japan. .


We may, for the first time, listen to me on the Japanese side of the topic, in fact, I have been on this issue is of concern to many. Japan has a synchronization process of decline, this is very frightening. The Central Bank's goals? is the prevention of risks. We are the Central Bank is in the fire, where fire is to rescue, you know the final answer. The fire was today, but tomorrow's fire will not necessarily be saved. The best consumer captain is prevention, prior to the flames under control.


This problem has arisen in China well after fire rescue another problem occurred, so we do not save, we do not have the strength to save it. .


To monitor: for example, in Japan, to stop for 20 years, because it was the urban development of the national economy to a very high level, I feel that China has just entered the youth to middle-aged transfer process, for example, the proportion from urbanization, population bonus point of view, such as the stock market bubble and real estate bubbles can and Japan 20 years prior to that time in the same breath or rise in adjusted?.


Liu Jun Luo: I have already and we talked about this issue, I always thought that this market will be under the control of all of the capital markets, capital controls, all of us all. You can think about 600 trillion, only 4 of our GDP. .5 Trillion, 600 trillion against the four. .5 Trillion of time how the confrontation.。.


Therefore, since the capital market in terms of certainly the signal you want to play, can not be without signal. When the Americans to launch operations there must be a signal that the end of this year the dollar index stood at 85. Answer all the questions a few months I believe we can see the outcome, I do not want to talk about a very bold thing, the dollar index we can stare, I do not want to talk about some of the empty theory is that when. 5,6 month I assure you it is important to point in time, can reflect how big jaw like. U.S. monetary and financial policies and combined. China has it? If so long to clean up Australia, this is not necessary to discuss the issue.。.


We know that 45% of the urbanization rate, but we have 2. .3 Million migrant workers, all of you a place to live, while workers in the community are renters, they are wandering in the society. .


The leader: I have two numbers to remember, but I've heard many people say that the United States now total debts?.


Liu Jun Luo: equivalent to 4 times GDP. .


To monitor: $ rise means that pay higher costs to repay these debts?.


Liu Jun Luo: We should first look at positions, if we buy Chinese stocks, as I bought a JP Morgan Chase may fall. We may buy a lot of debt, Freddie Mac, the U.S. Treasury bond U.S., combined in one. .5 Trillion or so. After buying a bond that means this must be in accordance with its trading rules to operate, three years after the payment due on the 3 and 5 years after the payment due on the 5. You should know that long-term capital company when he died in 1998, all junk bonds are up, jumped 30%. Long-Term Capital Management collapse all bonds because retail investors are making money.。 This is also a wealth of opportunities, if China wants to throw long-term Treasury bonds, this is a good chance, is due to hit the United States national debt, we can all collapsing off to rob the Treasury, this is definitely a huge profits.


There is also a problem bank crisis to crisis, when the ASEAN accounted for 70% of GDP, about 2 trillion U.S. dollars. China is empty, if we sent in accordance with World War II, as the French Legion utter lack of German. Policy, the French Legion more than the Germans, is better equipped than the Germans, the French destroyed within 7 weeks was. The contest between the major powers are not in foreign exchange reserves, it is the first way to change your allocation of income, this is very scary. A large number of the bank's system configuration in the past after the last real estate Gui Long is the last play, everyone should be aware of this point. .


To monitor: how to configure their own assets, I am buying a house in China, A unit, the US or buy us stocks?.


Liu Jun Luo: I can put a big trend and make this clear, short-term fluctuations are normal. But I have to tell you that America is a big system, before the attack will certainly show a certain goal, not a strange thing. Rose up in 5,6 months after the end of this year the U.S. index stood or 85, you can go to configure a large-scale U.S. military equity, you can find the U.S. hedge fund to configure, you can go to their own selection, which With all feel to do. I can tell you that you buy any one of the U.S. military equity next year, the year after that can make a fortune. .


I have to do is the variety of species, varieties, you need to know that all the big rally, all are profitable. Agricultural products in the rally of all agricultural products rose, this is no way, are not likely to occur in wheat, soy, in the fall of the situation, this is not the reality of things.


If the arms rose up, and I expect the same if the words can be configured. Therefore, we must do in terms of homework, research the U.S. stock market, I will not study the stock market, I would rather study the macro, great direction. I said to the squad leader, you are a business, I will not do business, I do not for business. Great direction and I will make this clear, I do not study American stocks, financial statements, or which stocks to study well, this is unrealistic.。 I have been talking about this a few years ago, in the big rally there we must be able to do this, we must strive to do our homework, but must rely on their own.


To Monitor: A friend of mine asked the trend of gold? . .


Liu Jun Luo: If gold this year received 900, 2 years after the can to 400, the answer is very clear. IMF funds to be built in Europe, Europe has 1 million tons of gold, India has 1 million tons of gold, the dollar price of gold will throw in these countries, this is not possible to change the situation, we now want to look for open positions. If you look over the answer is very clear, 2009 Golden la looks? we want to know a little inflation is expected to be out, gold is so expensive, you are buying real estate? this is a cultural change. Now the Soros not optimistic about gold, you can go to learn about and I think alike. . .


To monitor: about oil?.


Liu Jun Luo: Oil prices are now controlled by Goldman Sachs. I am sure prices will be the next 2,3 years, the process of the emergence of a crash, because the Chinese real estate collapse, the specific short-term to go, including Australia. You can see the positions at Goldman Sachs are all more oil, more copper, more gold, he was very powerful here, this position is very terrible, he controlled it all. You want to know if the Chinese of the Cold War, then, oil prices are to rise or to fall by the United States have the final say. But the whole process of bankruptcy, if China is expected to 2,3 years of bankruptcy, we again have not used the Chinese oil.。 No disability before the crops, varieties such as little as possible the best touch touch, big waves. Even empty gold in after two years can be considered a problem.


Now we see the trend of 5,6 month, we should keep in mind that if the dollar index rose very powerful, I believe that China's stock market will not go very well. Always remember this, we conduct a 5,6 month. If you had a bad month, then 9,10 RMB anticipated, I will die next year, a group of people. .


To monitor: specific issues: for example, US dollars, including specific actions configured $? is there a size limit?.


Liu Jun Luo: in fact we should all do homework, and actually doing homework is a very simple matter. I tell you a story, all in U.S. dollars confiscated in Argentina, the Argentine banking system exists among all of them confiscated. You deposit or deposit in China, Argentina, this is your own doing this. .


To monitor: you said that the u.s. debt is equivalent to the GDP of 4 times, is a financial game inverted the appreciation of appreciation to someone buy, buy a lot of people can appreciate.


Liu Jun Luo: this is a problem in China, we have been brainwashed, we believe that the real economy is a very good thing. I told you very clearly in another three years, China's chemical products to the market dumping, they have only 30% of our costs, there's what's the use? We have now changed, and the Americans to write something such as car is a burden, shipbuilding is a burden, what is the burden of computer manufacturing is also a burden, is the mental control of society, the brain controls how billions to earn money? . .


We would like to see more, two billion of the middle class, they want to exploit new products re-sold, fastest rich is the American financial products that wealth is what you don't understand.


The squad leader: We hold the money to buy real wealth? . .


Liu Jun Luo: I believe that 20 years later you will know us by the agricultural price will honour this wealth, 20 years after you know the prices of agricultural products. I can clearly tell you what the Chinese people in 20 years is not to eat soy oil, dollar can play more than 100, the release of the US dollar has played a huge role in growth. Economy of global mergers and acquisitions is 3 trillion, but only 10 years ago, is 3 billion. . .


In the United States why 1% control 70% of the wealth their creativity is inconceivable. When we look down on them when they create new business models. We see an answer to the US dollar rose, this boom will go out of the Chinese people or even global people's imagination, is two years. We have to do a dollar surge, 85 this year, two years later reached 130, this is very frightening. At that time rose up, all the Chinese media will say that the United States is successful, failed, for self-examination. In 1997, when we can recall ASEAN, Thailand introspection. . Indonesia after 1997, when the reflection that the American model is optimal. Japan is the first in 1989, the United States nothing. But now, the United States is the leader. .


We can see the entire industry Division system of the entire details of what we do about the u.s. 's work this is very important.


To monitor: The teacher is honest analysis of the three-price. .


Liu Jun Luo: this trend, now everyone is talking about 3 million dollars of house price trends are not expensive, the price of 3000 bucks is expensive. By the time you would go to exchange currency, now there are a number of countries, people began to exchange currency, the currency is not available now, the dollar could easily. Like North Korea, and Germany in 1930 when the 1 billion mark for the new version of mark, you can go to the change.


The squad leader: how you think the U.S. economy? . .


Liu Jun Luo: America's most outstanding sector is the technology sector, their liability is 0, jiqianyi cash holding, this is the financial innovation. They do not have investment because it was not successful, no progress. Global debt is rising, which means that the global science and technology progress and this is no way of things. Debt reduction in global science and technology will be presented with a great take-off, this is very simple, and reduce debt now Europe, especially Germany, very clear. Identified by the year 2015, the proportion of energy to what you want, I can clearly tell you the 2015 World Science and technology will have a big takeoff.


In recent years especially in Europe countries, the U.S. entered a strong reduction of debt, their surplus deficit in changing the course of the next few years their ability to Daliang of the Kejitouru. The United States hundreds of billions on the new company. Like Microsoft, Google took hundreds of billions, they are not white and so on, they are watching. The United States withdraw from the auto industry, they are not white and so on, to see. French and British manufacturing the car, but the auto industry created in the hands of Ford, and Ford made the car a commodity, is now the United States, the car made a financial product, the Japanese only in the manufacturing sector than the United States But Japan never made financial products to automobile.


There is also the u.s. military market, you cannot imagine the resources. It from the global police retraction when everyone in the Middle East, like internal friction is dramatically dissipation. Now the Americans in the inside is of the opinion that there is not much of a fight. 1. in the Arab world have .5 trillion, these things is unthinkable, but are young people. The whole world is not what we imagine, we're looking to take a look, and American culture in the control.


The squad leader: There are a young man ready to bargain-hunting. Liu graduated from the 2 years I did not make money, when I want to buy a house. .


Liu Jun Luo: Please do not go to the end of the price cut, because your bottom time to do the bottom dollar configuration, when you hold the dollar depreciate what we say extreme same as 1930, mark the old mark of things into the new version of mark, your bottom completely. You can hedge, holders of US dollars. I have very clear indicators, including the end of the year during the month you want to copy the military unit of the dollar, the currency prices or other circumstances occur by the time you can go to the bottom. . .


To monitor: China's Central Bank is to control your own exchange rate, and is not a free exchange rate will change in the future?.


Liu Jun Luo: afraid of the future that they can control the money, first of all in terms of Obama is expected to establish a renminbi appreciation this is very important to cover about 100 million of capital flight in 3000-5000. When China's central bank dropped below 1. .8-2 Trillion when it could only control the money, this time is a vicious inflation, which is no way to things, no one will believe you monetary policy, your cost of capital reduction, your labor costs are too high, the whole society was destroyed, this is a very scary process. .


To monitor: general economic cycles there are four stages of the crisis, Xiao, prosperity and recession now seems to be a v-reverse, as if the world is such a trend. Do you think this period there is also an opportunity to make money?.


Liu Jun Luo: I think the world of flute section from the second half of next year extension of the whole system too, and the Government has no bullets. If you go down to down, we never could imagine in 2008 that macroeconomic policies continued to rise. Need to maintain the capitalist system continue, Europe, Japan, Germany, Britain and other countries must maintain, they will not waste their country's budget deficit, budget deficit if they go to waste, the capital market will retreat to punish you. We will soon see such punishments, as the euro will fall 0. .。.


We now know that flowering is one U.S. dollar to buy, and if 30 dollars after it will show what wealth? Xiang Freddie Mac, Freddie Mac, companies that can invest, but many said that this was a bankrupt company, do not forget that, held by the U.S. government's. Why Bankruptcy? 18-20 million dollars a house. The taxi driver's annual salary of the United States less than 4 million, 10 years after the United States will have a huge take-off, wages will rise, and this is their final result of globalization. U.S. service sector, including agricultural products will be great wealth from the market.。.


The squad leader: So the rescue of globalization may not be a new economic cycle began, the crisis may be a rebound after starting. .


Liu Jun Luo: this is the globalization of rescue, first of all, we want to know what is the policy of monetary policy and the Cairns, the no derivatives, you simply cannot imagine that such an old theory to talk about these issues, not how you derived product, at that time their ideas is the gold standard, a fixed exchange rate to a floating exchange rate is determined by the control of derivative products. For example, CDI is 60 trillion, it is now possible to say whether the Everbright Bank will not be concerned about the price, and price. China Merchants Bank will contact CBS China price, I was impressed by the experience. The reason is that before. . What is the concept of CDI? It is the sovereign debt of an insurance, if we began to monitor the insurance, then, what is this concept? Very scary. I now turn to 5,6 U.S. dollar is not going to go up, we look at CBS or the American goal, because certainly surfaced. When everything is completed the process of soaring U.S. dollar, we can do better, watch, and two months later, the answer would be more clear, 4,5 months after the answer more clearly. .


I appreciate the economist Alan Greenspan, Stein, Stein was a German field marshal, the idea is very good, he led the French war. In general terms we have to understand this process, economics is a creative process, it is an optimal system configuration, it is you'll never think of configuration. This configuration is complete on the metabolism and the biggest macroeconomic strategy area, no one can think of, like Manstein design of the French campaign, no one can think of. At that time, Hitler was a gambler, he appreciated the battle, so Hitler was a success. . We must consider a Jewish thinking to economics, this is a very important point. Do not be brainwashed, this is very scary. China is now graduating from university by the people engaged in finance, is really brainwashed by textbooks. How to get U.S. dollars next year? The answer is very clear, and I can now tell you, I'm not judging, I tell you that society is some manipulation, you said I was a conspiracy theory, how you say casually. Anyway, the dollar will go up next year so that we can not understand.。 We cannot take other people's ideas to our present situation go on.


As shock therapy in Russia, many people die because of this way, and now we have to see how we Keynesian and monetarist by the impact of losing money. .


Audience: I would like to ask you how these data?.


Liu Jun Luo: I never look at the computer, every two weeks my wife will be information from a variety of sites call me, playing out the contents of the very large, then these data were analyzed. Various information on the site, news is breaking out, and now write a good blog very much. We can find better, say about Japan, India, the Korean economy, the Russian economy, Saudi Arabia and so on can see, it can not find the answer to find a friend is such a process. .


Audience: a Bank Vice President said that there is a real crisis, and you said that the meaning is the same, there seems to be aware of this at a high level. If they have a measure of the trend is not too big a role?.


Liu Jun Luo: The threat now in terms of the upper felt very clear, we can feel in two sessions. If there is a chief financial officer also understand this matter, all the time the amendment was Keynes, others think you are a fool, when there's time they do not think you are an idiot. The basic monetary policy we now are returnees, will you think about American military secrets to you? . .


Audience: Liu, in 2007, has been tracking your article and blog. I think that the dollar can study too many places, including oil, etc. I think the two support like two kids fight, I think the defense, the military are American support. Recent carbon trading, I still do not understand these things, I have some friends, a friend of mine in Sichuan completed carbon trading. . .


Why carbon trading in Copenhagen will mention? this is I don't know, why in the future to put these things in the air bubble in idleness.


Liu Jun Luo: The process of carbon trading, the dollar is not in the asset allocation funds, such as Google, Microsoft, who have not money out to configure the carbon trading. United States did not sign the Kyoto agreement, only the economic growth in order to complete the growth of social welfare only after improving labor productivity growth, labor productivity change can be completed after the progress of science and technology community as a whole. Japan's energy consumption is 37% of the United States, that is, the process of creating one U.S. dollar, is 12%, only to maintain high growth.。 Like the former Soviet Union on sounding weapons, now as long as you can to expand investment in the United States will not be restricted. Government debt is the United States urgently needs to do, the United States did not in this large scale investment, this speculation 1-3 years. I believe that next year is not the talks.


Audience: Teacher Hello, I have been concerned about your blog, in the U.S. dollar bond financing is maintained before the consolidation trend, the dollar index at 80 position, non-US currency of the year? Africa and the United States before May will continue to wait? . .


Liu Jun Luo: short-term comparison, is the main basis for open positions. Like George Soros is the same, he more than empty euro gold, but it is empty, he took the gold chips behind severely hit, hit, hit gold to smashing an exchange rate of the exchange rate, what other countries?, this is not clear. This is what they play more aggressive. He is a real hit down, in fact, he is selling other things. As it was hundreds of millions of dollars do CBS, general direction of the euro, a very powerful lever. . .


Audience: if it will depreciate?.


Liu Jun Luo: Now the culture has been amended, we can not start to devalue. Now is definitely the first devaluation of the euro, pound the first devaluation of the yen first depreciated, derogatory to us barely holding on after a calculation in the capital market will certainly have to devalue the RMB, this time we have to escape. Fled to the Chinese central bank's reserves only 1. .5 Trillion, we can attack 2 trillion, so this thing is more difficult to qualitative (from the perspective of foreign exchange reserves). May escape to 1 trillion market, when we closed, we need to know the United States to China is not short selling short selling of RMB, otherwise it is a fool. He will fry CBS, fry up the sovereign debt, which is the lever effect.。.


Audience: Britain seems to be in Spain followed to control the financial? Can we get the next trend, or is not present such a situation. .


Liu Jun Luo: we now turn to Spain and the United Kingdom is not a commercial culture, they are colonial culture. British control in India, India's economic growth even 1%, the illiteracy rate is 90%, so the culture is different for different results. The UK is not possible to diversify, now British control of military forces India system does not allow the Indians, then Indians began to rebel, like Gandhi, Nehru and so on, these people do not want to rebel, and they are willing to cooperate with the British, they just hope that in the United Kingdom under the auspices of the Parliament have their place. The Americans certainly give this status, which is the American culture. Culture is very important, inclusive. . Children in the United States always recommend to parents today, where to go. For example, to the destination may spend one hour on it, but kids that can go 10 hours, while parents will spend 10 hours of creative time to the destination. Any kind of business model is a kind of creation, we can look at the future of Google's business model simple. We have to know a little distribution of wealth in this society to the minority, African Indians such a large number of people coming in only at the low end of their working, we do not change this situation, the future will more and more low-end workers who . .


Audience: I'm back from the United States, I am concerned about Liu Jun 2007 Laurent teacher's blog, in the United States have many choice of financial products, but also earn a lot of money. 2007 saw your book is timely to sell gold, then look away more than $ 2, and 3 months to get a 30% gain. I don't have any problem, just would like to thank Laurent teacher Liu Jun, thank you for sharing your research results to you.


The squad leader: You come from the United States this is designed to listen to teacher lectures Liu Jun Luo it? . .


Audience: this is not the case, I meant to evening is returned, as heard Liu Jun Luo teacher message to lecture today, they came back earlier.


The squad leader: if you can recommend to our friends present here some of the U.S. military unit. .


Audience: u.s. ETF has one called ITA, including broadcasting all of the military unit. There is also a similar, because before the US stock market has a 10% adjustment, I bought in more than 40 to 57, 57 adjustment to finished also. Just to make money, why can't respect Liu Jun Luo teacher? I think Liu Jun Luo financial crisis not only explain the teachers of the essence when parsing very thorough, and teach you how to look at the life of the world, I think this is more important than money.


The squad leader: I think the deputies should be elected you to do. (Laughs) All good things come feast, today's question on here, since we invited Liu to know lots of money to the club to give lectures. .


Liu Jun Luo: 7, 8 $ rose of the month, I will then write the second book, I'll come here again. I think they need to communicate with us, if in fact I believe, and I am very sure of taking this step, I am of the view that you want to go from thinking about this community, we all learned something and realistic are the opposite, every one of you are in, you must reject this previously learned, too big for you, this is a terrible thing, thank you!.


Liu Jun Luo cultural topics for teachers:. .


In fact the Chinese culture is a Confucian culture, I think the Confucian culture for foreign war, died in the Ming dynasty, the Qing dynasty and miserable death very hard, we have been dead in the culture, this is a terrible thing. This is also true of Japan, Japan continues the issue of China, the United States is the commercial and cultural, commercial and cultural confrontation of Confucian culture, we all know that this is not realistic. We went to see the culture is very important, we have to understand the culture of Europe is also a cultural product, why the euro has become the second currency, because it is a product of the Bismarck. How will China in the future? it is not suitable for the development of globalization, which also involves questions of Chinese culture.


To the squad: I see your self-profile is Mohist pedestrians. .


Liu Jun Luo: this is someone help me, I like to look at various aspects of culture, for example to Eastern Europe to play, eat to several hours, they are not suitable for doing business, so you never to Bulgaria, Hungary and Eastern Europe to invest in this country, the culture change on behalf of wealth, I do not worship any culture, I only know one answer is that each culture has a metabolic process, we have thousands of years of culture through our previous evolutionary process, it is not necessary to complete our evolutionary process, the United States is a cultural evolution, this is terrible, it always in evolution. . .


The children do their homework when concentration, says, I don't know what I'm thinking, writing at the time of the superfluous action industry is particularly high, such as find rubber. Just learned the Word also impressed throughout the book looked down, once finished, the next times continue reading, you cannot write continuously. Writing industry cannot independently, to have parental supervision.


There is also word is badly written, writing is not serious and can not find the feeling, so he practiced calligraphy was also reluctant to do serious resistance. Not only the writing of bad English and mathematics are such, mathematical writing scrawled on several occasions because the title will do is wrong, usually because of slow writing, job not finish, the teacher left behind quite a few times. .


For the children of the ponds, comprehensive of netizens. Proposes the following solution:.


The first one: 1 minute special training. .


(1) a child to do title to concentrate on training. Prepared dozens of simple addition and subtraction of suanti (according to the grade of difficulty, can be different). One minute, a child can do much more. Let the children feel they can do more than a dozen small, their homework time, sometimes several minutes is not a small problem.


(2) training for one minute to write Chinese characters, strokes and writing to find some new words quite difficult to see the child in a minute how many characters up to write books. Note the situation of each and compare. .


(3) a minute to write digital training. A boy in my class digital writing particularly poor, but very slowly. This semester, math teacher let he practises a minute "0123456789" quick to write. Write one minute, take a round can write a few groups, he showed me the practice in recent days, the original score by up to one minute to write 5 groups, you can write now up to 9 groups, but also write some pretty neatly.


More time training your child feel valuable, the original one minute can do many things, cherish the time. Also improve children's writing speed and the speed to do the theme. Training for 1 minute in a group practice of three to five groups a day. When attention in the training records of the child's performance, and compared to a week practice time is appropriate. .


Second trick: stop press, adhere to the praise.


When children do things linger, many parents like to call, constantly urging, the result is feeling more pressed, the child's actions increasingly, parents and even more angry, the children do something fast, to praise. If you can start your child out of a few simple questions, for 1 minute or 2 minutes, the child will soon do a good job, parents like to call for surprise: "The less than a minute too!" In short, the very bold look . Observed at any time in the life of a child's performance on the immediate recognition of things done fast. "Now get dressed quicker!" "Now packed bags quicker." ... ... This is the case. But do not say, "Now get dressed quicker! If homework is also so fast right away."。 Through the recognition of the inherent will motivate children. faster.


The third measure: the time saved by the children discretionary. .


Many parents prefer to give your children the layout of some of the family within the job, such as the child has completed a teacher assigned homework, what to read English PRA layout, children just after reading English, parents also undergo aoshu problem. And so on. In short, parents give their children arranged well. Children also seen the problem, that is, as long as there are children free time, parents will schedule the task. Therefore, the child's response is, breaking it up, homework when I write. This drag-and-a very long time, as the teacher of the layout of the job does not complete, the other parents will not schedule the task. Kids homework during play.


Countermeasures: the daily assignments to be a teacher about the time estimated that the child need to complete the task (including the parents the task of layout) for a time expected. Must give a child left to rest time (free time). If a total of one and a half hour, then the child half an hour (or even ahead of quality and quantity) is complete, the remaining time must be dominated by the children themselves, if playing his favorite toy, or while playing games, for while physical training and so on. Is to do what children like to do. Form this habit, the children will lose time to complete the job, because I already finished a lot of time playing there. .


The first four strokes and take care of: from lifestyle training.


Can only start from the habits, ah, give him the allotted time, asked him to be completed within the stipulated time to do their own thing. One parent said her daughter the morning to get up to 10 minutes to wear a pair of socks, children socks in bed to reason ah management, management by the parents get angry. What food, clothing, washing time can be delayed as much as possible to delay time. .


Strategy: training reduce child living behavior in time. For example, with the game socks, see who is faster. Between the first game to teach children how to wear faster method, hands-on training. Parents in the game, you can deliberately slowing down a little, let the children feel that there is a possibility of winning. Even sometimes inadvertently lose to children letting children feel they can do it fast. Let the children to do things in life, in learning to express themselves.


Can also be used to complete a certain thing in mind to provide time to complete the recognition or remember a "★"; get enough 20 "★" meet the child's one wish. .


The fifth trick: do not complete the required time to immediately cease.


Some children worked hard to delay the time to 22:00, a decrease of sleep time, resulting in no spirit of the school day, reducing the learning efficiency. Cycle, resulting in a vicious cycle. At this point, I think we can give children a job is completed to determine the last time. To ensure that the child 10 hours of sleep, many parents provided their children go to bed at nine o'clock. So to the 21 o'clock, the child's job is not finished, do not write, and asked the child to sleep. Operation is not completed, will be the teacher's criticism. Later, the child will seize the moment complete.。 Not only as a last resort, do not use this trick.


In short, the children dawdle, parents must use patience and love to help children to gradually correct, do not rush. To summarize ways and means to continuously improve the child's rate. See the section of the text a bit touched. .


See Wang Hongshan brother like ashamed, talk about their own lives, in fact, I now have is the most trivial but life. With a lot of the essay and want, and then look forward to one day be able to rely on code word. It is not ideal, I could never forget his own people in pursuit of something, even if it is exhausted all my life, nor does it abandons this objective. But life's disappointments, I often times out of ten, is the same, has never been the kind of special lucky, background and background, and take a step to make our own strength.


My wife is also a very ordinary person, we are together for ten years, and then just when I knew him very fun, mess with a group of friends, he had been a soldier, is the kind of very simple people, On a three-year love our parents, opposition parties were married. Parents argued that he had no money, a poor young man, in addition to a fixed subsistence work give me nothing. I, too, in college I majored in fashion design, if only to stay with him together on a small town, where no room for me to play.。.


Seen too many flashy burst, we finally came together, and then later have a child. I did a few years the business is very hard not to make money, the most difficult when it comes to get her husband back the debt. Hard life in those years, I have been thinking about whether the error of their choice. But one thing I have been very proud of her husband although no money, but he was willing for me to pay in full, as long as I want to do, as long as not violating law and discipline, he had the unconditional support. Although his support is very limited compared to the really rich, lightly uproot hair than our large waist, but I also met. .


Subsequently, the children have less contact with friends, all play together, but also to have been farther, that's OK, difficulties we will see friends. When I saw earlier, the better.


Looking back now, I still do not regret having the choice, everyone is not the same way, some people choose the shortcut, and I chose the most difficult but the most realistic that one. Oh, long time no talk about these, and now rarely deal with friends, professional writer's life is boring, every day the first thing is to open up the computer. In order to find a way for his own, I tried many, many, when I was writing suspense debut, in order to study and I almost read all of the mystery thriller and horror films for a while have nightmares almost every night, opened his eyes to think every day is how to kill, close your eyes and dream is still to kill, like a veritable metamorphosis.。 08 years every month you can receive fee for single, I have written but only enough to mouth, people ask me all embarrassed to say how much money earned.


In this way, then I intend to write about earn more money and began to write long. I am 30 years old this year, said 30 standing, 30 years old children can stand up, and my daughter were old, and already playing soy sauce, but it can only be considered in the cause of infancy. Really useless, Chase wrote a nonsense began to cry, and no friends, hiding in this small place to live in obscurity, this state is definitely my first 20 years without giving a thought, once assertive character has been polished life was not the edges and corners, and good hard texture still, I will not forget what I want, never give up. .


Well, not that those who are not hard, pay forever and the harvest is equal, but they give we see or don't see the whole bale.


New Year approached, may say something happy, I wish the friends were perfectly healthy in peace, together with his family had the most happy years:). .


1, no matter how far away you live, every morning at least 10 minutes prior to the Office, if it is a unified Shuttle, should also get 5 minutes ahead of waiting points. Do not be late to work, less time off.


2, in any place, encounter colleagues, acquaintances should take the initiative to greet, to sincere. .


3, in the car, take the initiative to the elders, leaders, female colleagues seats. Do not fight with anyone who has a seat on the bus, the struggle.


4, entered the office should take the initiative to organize public health, even if full-time cleaner, have their own clean up their own desk. All these should be started during working hours to complete. .


5, breakfast should be in place, outside the Office to work before the beginning of time.


6, a day before the start of work, should take 5 to 10 minutes of work time on the day to make a written arrangement, with particular attention to the work not completed yesterday. .


7, every day to bring you must report to the leaders, the need to discuss with others on the Organization of work in front of you.


8, looking for leadership, colleagues, reporting, liaison work, should be by appointment, knocked on the door softly, warm greeting. .


9, working hours, do not schedule time dealing with private, special circumstances shall advance to the leadership of the request.


10, need to work outside, do not use work computers to chat, games and news. .


11, do not use work phone chat. Even if the job requires a call, it should make a long story short, polite language.


12, speaking in the office work should not be loud voice, and without affecting the work of others is appropriate. .


13, to work every day before the day needed office supplies. Don't put non-work-related stuff into the Office.


14, after work, desktop computers do not put work documents and data. Work, should encrypt, lock, turn off the power so do not leave early from work. .


15, except for the need to carry, keep working documents, materials, information, company articles back to the hostel.


16, in addition to job needs, and their job-related technology, information can not easily tell other people, even colleagues, leadership. .


17, and others in the same room, you should be aware of the bedroom and personal hygiene, full respect for other people's habits, mutual trust and friendship.


18, travel for business, to obey the company's personnel, time, money, work, not to mention work-related requirements, does not take the opportunity to Bansi Shi. .


19, out, courtesy, and leadership, colleagues, customers, partners have to meet, to break up the initiative to say hello, goodbye, and shaking hands.


20, communicate with others, cooperation, communication, negotiation must proceed to speak of pace and tone, not too big too fast, can not control the adverse emotional consequences. .


21, with colleagues, leaders, clients and friends to travel out of politeness, should allow the closed door.


22, with colleagues, leadership, customers and friends with the meal, be polite seat, if necessary, should also assist attendant to do something. .


23, feast should respect the leadership, elders, women, courtesy of toast, excessive alcohol use, is strictly controlled.


24, together with the leadership to go out, failing to rescue the leadership of the speaker should not speak before, and more help is not chaos. .


25, visit the leadership, colleagues, customers, friends, on the warm reception should be grateful. Encounter conditions, the environment is not good or not warm reception, do not submit additional requirements.


26, unless a person alone, or not during working hours and frequent public places playing phone or send text messages, phone calls. .


27, adhering to learn professional knowledge, learning every half an hour before going to sleep for at least 10 minutes. Every day, everywhere.


28, to adhere to new information, half an hour a day watching television or reading the mainstream, professional newspaper for half an hour or half an hour browsing. Perseverance, but it should be the time after work. .


29, even if not required, it should also be regularly and leadership, communication, exchange of staff.


30, concerned about the companies, departments and development, where ideas and suggestions, should be promptly and even to the higher authorities through the appropriate way to reflect the highest level. .


31, timely summary of his work and life, proper planning for a period of personal life and work.


32, colleagues, leaders, friends of the red, white wedding, should not be overcautious, but not too much about. .


33, regularly with their families, students, teachers, friends, work, life information interchange.


34, life as a regular, balanced diet to ensure nutrition, usually wearing a simple and elegant. If installation work must be required dress. Do not wear clean clothes to work with patches, parlor, travel. .


35, attention to personal appearance, regular hair, shaving, every day of the shoe.


36, If the work can not be completed on time or accident must be promptly notified to the leadership to seek new solutions to minimize losses. .


37, life needs to promptly when colleagues or with the help of the company.


38, ill can not work, we must promptly leave, active treatment, the need is to find a friend to help. .


39, to develop active work, simple life, to get acquainted with good friends and good habits.


40, in order to achieve objectives well as the criteria, do not give yourself extra pressure to learn to enjoy work, enjoy life. .


。.


Yao 知道 yes what happened today, Jiubi Xu Shang Xun Zhao from the traces of history, we Keyifaxian, many historic Shi Jian and Xianzai events Douyou this similar role but they brought results, allows us to Wei Lai happened things somewhat prepared. .


1987 stock market crash occurred in the United States, and in 2008, the United States as a stock market crash, if you look, we find that the 1980, Iran and Iraq has 9 years of the Iran-Iraq war, oil prices are high, but from the beginning of 2001, the United States has also launched the Iraq war, also makes very high oil prices. In 1985, the Yen's appreciation, the beginning of 2006, the Renminbi appreciation also, 1989, the Japanese because the American recession and the yen, export-oriented economic setbacks, which in turn rely on real estate economy, but in 2009, China also take similar measures.


21 years back, let us look forward to this cycle, the world has happened? Those events occur then cause and effect is it? . .


. ). .


How the weak dollar expansion, we may have a look at the examples: China.


Back to the late nineties of the last century, China and the United States reached a deal to let China into the U.S. customs, but must Yong trade surplus to buy U.S. treasury bonds agreement that can be said to be behind a series of carefully arranged starting point. .


By the mid-1990s, China's exchange rate combination, or a substantial devaluation of the Yuan, (from 5. devalue to .7 8. .3 accompanying the FEC's disappearance. The Southeast Asian crisis), and ultimately the United States and the financial capital, a good harvest in the South-East Asia, the results of decades of development, but they also became the next target in the United States. But before entering a series of arrangements for 10 years after the harvest in the United States, China,..


Through customs, we can see, and soon a thriving scene has emerged in China, China's cheap labor, cheap goods available, so that the United States, ordinary people, living standards have improved in real terms, and China in exchange for a number of and green dollars. Then, China's banks need to issue yuan to buy the dollars from exporters there back then, and then those dollars, buy U.S. Treasuries. .


This cyclic process, the u.s. dollar printed, in turn, has returned to the United States and China, the Bank has 30 years after the United States also money LUCF (US Treasuries), while in the market, many many many of RMB. We must be clear, the United States national debt, and US dollar cash, are two different things, so-called foreign exchange reserves of the number of u.s. bonds, not cash, bonds hasn't expired, or you can sell, but to the time to change back to the US dollar, it will not be sold in the a..


Remember, foreign exchange reserves, bonds, are IOUs, not really the money! ! ! Really necessary, it is difficult to play a role, just as a person at home is only 30 years of deposits, not cash, but encountered a sudden illness, the bank refuses payment, will still be no money to see a doctor. .


After returning to the US dollar, the Chinese have to print buying dollar RMB, and left to China what kind of consequences?.


Chinese are very industrious, very intelligent, with a strong government, able to control domestic prices remain at a low level, while the Chinese people to be patient, as long as food to eat, we can continue to produce, Therefore, the Chinese-made products, the price is very cheap, and thus in exchange for a broad market, as well as a lot of IOUs. .


The Chinese Government's strong control, so the Government can put most of the benefits of economic development are occupied, whether direct, indirect taxation and State-owned monopoly, or black corruption, anyway, through various channels, people will find that their actual income in the years of rapid economic growth, is merely the "growth", in addition to having the Government finances, have the right people, although still the price of pork, but own earnings, nor how much growth.


Most of China's economic achievements have been a million and tens of millions of elite groups within the structure after having possession, they need investment, not consumption channels, but this time, real estate speculation became the goal. .


The land system unique to China, so that the Government can enjoy the vast majority of real estate, with the real estate industry, the Government's financial situation, there are a lot of improvement.


As a democracy, Guo Jia, good times in revenue, usually tax cuts will be conducted, or to improve social welfare, but China is authoritarian, and Zhi Du, so, once the government have money, first thing spoils to keep the Qian hides into the pockets of officials at all levels, and increase revenue officials, but also make eating a more expansive fiscal sectors, leading to new pressures on the finances, and this financial pressure, gave the government greater, by land and property to address the way to the money power. As in the early nineties when the burden of being rid of education, health, social security and so on, and it has not re-signs of recovery.。.


Many people say, ah, China's real estate is a bubble, but the U.S. also, the recent U.S. real estate bubble burst, there is no big deal, so, China is also the same, but, in fact, is not the same This requires us to look at the 2008 U.S. real estate bubble and the current situation. .


。 Based on this kind of high-risk loans, because the risk is too great, man for gimmick has a nice name, time BERR loan bonds.


In the new century, the first five or six years after the Internet bubble burst, the United States only by loose monetary policy, exotic loans, speculation in the property, supporting their own economy, but also blew a bubble. .


But in China, from the beginning of 2001, the real estate industry, all started by leaps and bounds, then the dismantlement of violence so that means to enjoy the city from the land of dinner after the real estate industry, will become the official feast in which produces wealth, but it also needs new investment channels, thereby supporting the further up the real estate, also contributed to the related industries, such as iron and steel industry.


Review of China's steel production, we will find that China's population is 5 times the United States, steel production is now five times the United States, and the staff of the United States the basic car, the per capita steel consumption, really do not know Chinese to build a house with a number of steel! China's per capita GDP is said that on a per capita purchasing power, can reach 10% of the United States, that is, China's steel industry, the impact of the national economy, at least 10 times the United States, and soon, we will see the consequences. .


Bush's first term, if not economic performance, while the cost of the Iraq war jiqianyi hit, but the United States has not faced with very bad economic situation, and he therefore re-elected. Similarly, although some people were uprooted from their homes, to engage in collective petition, however, in General, the Chinese Government with House rich, so that people have been relative improvement, at least not become worse, the community has been relatively stable, has the "harmonious society" said.


U.S. loans to buy a house policy on the magic, so many people who buy a house without power, have begun blending properties, while home prices increased with the supply on the increase (in China, many people believe that through the government land auction quantity, control the supply, can control the price. But these people forget that the stock market also has built housing does.) soon, Americans for many, many new houses built, greatly improving the living Americans conditions, however, as supply increases, quickly, to stop the growth of house prices, houses can not be sold increases, as back banks, that way, triggered the so-called "sub-prime crisis." .


And before the crisis, this time, although it is housing supply exceeded the consumption caused by the crisis, but the United States has not tightening, but has taken a further cut in interest rates, thereby continuing the market approach to China as an example.


China is also facing rising home prices lose their support situation, and the American way, no doubt, let the Chinese think, you can turn on the tap water distribution through banks, to support real estate prices. .


The US subprime mortgage crisis, the US middle class reduces consumption, thus reducing the imports from China, thus, resulting in a decline in exports to China, export companies, increased unemployment, further down the price of labor force in the market, thus further compression of domestic consumption. (Fear of unemployment, no consumption. ）。.


. .


At the same time, as the capital of China's civil, productive activities, investment income falls real estate, also have been reduced and brought to other industries, will increasingly capital, transfer to the real estate or related industries, resulting in real estate on the role of blood in other industries, real estate, the better, and the other the more poor.


Drainage of low interest rates U.S. banks, the first decline in real estate has been achieved on the basis of, and now the interest rates low to maintain this rate for several years, then, with homebuyers, the monthly mortgage payment to pay , also within the acceptable range, of course, for this month, buy a house than the kind of change for the initial month for the month, that was to be high, but, for many homebuyers, rather than wait until the room prices fell, interest rates, higher monthly pay per month for house purchase, it should now pay the same for months, enjoy breakfast.。 (Although the ratio of peak has decreased a lot. ）。.


Bank of America mortgage loans packaged into bonds will soon be sold, interest rates low, it means that the proceeds of these bonds is very low, but low interest rates are now the world can not expect better elsewhere income, therefore, China is still a large number of low income to buy these bonds. (Now the bonds, the interest rate fixed, it is not subordinated debt, but rather superior grade bonds, and rated higher, security, of course, earnings are very poor.). .


. .


We were very pleasantly surprised to see that at this time, the Chinese began a private field in the rich and the so-called corrupt "Black Mountain" campaign. This political show, a direct result of the substantial assets of enterprises and bureaucratic, fled from China, not so clean officials and entrepreneurs in overseas stay good after road.


Of course, the United States is not the biggest beneficiaries of this anti-crime, Hong Kong is, after all, China's capital, fled to Hong Kong, fled to the United States than in Canada easier. So we soon see, Sui Zhao hitting the conduct, Hong Kong, the ground also appeared Xin Wang, Er buy those, coming from China. .


Of course, there are infinite financial commentators talk of recent Hong Kong equities and real estate market is hot, always malicious, it is because the international portion of the dollar to fall, the appreciation of the renminbi and $ to, so the hot money surged into China's economic prospects, the wind and flowers, don't forget the way Americans about the inevitable devaluation of the printed notes, reviews, the extent of their nonsense, shame on you people really open horizons.


What happened in Hong Kong? Behind this incident, what is the driving force in the end it, black hands who, what purpose does it serve? This is a very complex issue with several aspects need to look at. .


First, the Renminbi to Hong Kong, what happens? continent black funds went to Hong Kong, you need to buy a House, buying stocks, first of all you need is in the hands of a swap, who?, HSBC Bank, for example, investors in the hands of the Renminbi, change, and then invest in the real estate or the stock of which is to be fixed. While Yuan to the Bank's hands, the RMB loan it to someone else, such as Chinese businesses, get to the Mainland with the House, as a result, has returned to the Mainland, pushing up the continent's real estate market.


And the dollar is not making a circle back in China, some similar? Yes, but also somewhat different, the first question, was the bank where the dollar is coming. .


With the Mainland of bank credit, you can count on the Government Printing banknotes without reserve, Hong Kong dollar, and the US dollar, the base has locked the 1: 7. .8 the issuing bank if you need currency, seeks to take the same amount of dollars, to the Hong Kong Monetary Authority from the HKMA approbation, release to get the corresponding number of dollars.


这种 system, if the dollar appreciated, then the bank can take back Hong Kong dollar exchange for the same Shuliang Gengduo the U.S. dollar, problems have emerged, changing the Hua Du, Gold Duo MA Mei You so dollars to, Zhekeshizhen gold Silver lost the Hong Kong Government, that is to use taxpayer money to subsidize banks, this kind of thing, the SAR government would not allow his own bankruptcy, it will not be made. .


RMB into Hong Kong, HK $ swaps, HSBC demand is great, he borrowed from other places, to the Hong Kong dollar to Hong Kong dollar, at this time. HKMA got $?, and the continent Government, back to buy u.s. treasuries, okay, back to the US dollar, turn and continue to blow up the Hong Kong and the Mainland of asset bubbles.


Thus, we see, as an intermediary bank, the debt owed to the dollar, the U.S. dollar, the Fed lent to them, because now the U.S. is very low interest rate, so dollar they receive low cost. (The Fed's dollars, the purchase of a U.S. treasury bonds, China and Hong Kong Monetary Authority sent back, although the Fed to pay interest for the bonds, but bond interest is not high, but certainly lower than the lending bank.。.


The yield of these financial products, is certainly higher than savings and high, after all, is based on loan interest Jisuan gains instead of deposit Li Xi's, Danshi, loans You Lai's not justify the risk, but this risk, banks have shifted Dao the sound Touzi Zhe's body. (So, the Christian Democrats is the world's most stupid, and benefit from lower, more at risk.). .


HSBC to sell financial products to be withdrawn, the Renminbi, or money, of course, is not to go back to buy back $ and then also, at least not now, but refinancing out to those Chinese companies or investors to buy, stock, then the loan package, offering financial products, and then repeat several times, we can see that entry to Hong Kong dollar, many times blows big bubble of Hong Kong and the Mainland, and in the middle of the Bank, not only has no risk (passed on to the investor to buy financial products. ) And, in the Middle also earned a considerable margin, this is what they return it.


Well, everything written above, all in the past or present tense time, but sort of what happened in the past, we will soon know what will happen later. However, before predicting the future, we look at a situation now in China. .


First, China's economy, has since been abducted, and real estate in a very painful situation, apart from the real estate and related industries, investment and consumption, are subject to significant influence, it can be said to have dropped below freezing point, real estate and related industries, are also made with a high fever.


Despite overcapacity in China, but once the normal chain of broken economy, Qi Ye no liquidity, there is no way to buy materials, pay wages, to organize production, on the one hand because the new labor law labor costs brought up, on the other hand, because shrinking overseas markets, China's industrial sector, squeezed by both sides, a large number of companies also insist it only reluctantly. .


Of course, it must be said is that China's private entrepreneur can be said to be as bad as with Blackjack bureaucracy, or even worse a group, they will make the factory closed, due to the large number of workers ' wages, payment of suppliers, and then took his family to prosper, while leaving abroad before raising your own land. For example, a Wolf Professor says, to give money to private enterprises, as well as the money given to American well, anyway, is the same thing. Of course, with a conscience when the boss isn't making money, pay, and there are no exceptions, so this kind of natural selection as a result, the so-called private entrepreneurs, it simply can't find a good man.


Second, the harmonious growth of the past few years have been so privileged class, with unprecedented expansion, civil servants and public institutions, and the monopoly of state-owned enterprises, because the right to revenue assurance, bringing more and more attractive, but also Let more and more people, 削尖了脑袋 even hesitate to spend huge sums of money bribe, but also to squeeze into the circle to the circle with rapid expansion, and they need to squeeze more and more flesh and blood to maintain their own The circle of life. .


System Monitor does not exist, judicial independence, there is no less restrictive of the powers in the past few years, more and more of the various means have met crazy. This group, called the "right" class, now with the leaders are not constrained, if you want to let their abstinence, hungry themselves reduce Rob nation, and it was absolutely impossible.


The only good news is we have a trace, although revenue is always twice as much (this is specified) in the GDP growth rate is increasing, economic development, whatever the outcome, after deducting the revenue income people, or a little positive growth of. Of course, if less than 8% GDP growth, perhaps, the total increase in revenue, the ratio of the total increase in GDP, higher up, so people have the income, is a negative growth.。 (In the collection of taxes, tax departments are always exempt from the past, few of them tax, tax reduction, only the collection, you can only appear on the book. ）。.


In the United States, along with one or two years to absorb domestic and overseas investors, had made it out of the house more than a few years, has also been great to absorb, the United States still has the world's most powerful military force, is the world's the most freedom, one of the safest countries (one of Canada are also considered). If the unrest elsewhere in the world, no country can the U.S. invasion, the United States, to ensure the safety of your property. .


From the 1960s onwards, the United States has gradually achieved his manufacturing hollow, however, this process does not affect the powers of the world's first in the United States, any Challenger, the Soviet Union, or Japan and Germany, and they're all far from being left behind.


. .


The interest rate will make the same rates mortgage monthly payment amount, for a loan to buy a House, a lot of pressure, therefore, theoretically, have the effect of houses, however, for an entire paragraph, the level of interest and is not a problem. Instead, invest in Hong Kong's financial products, higher interest rates, and more attractive, in order to further accelerate the RMB inflow. With regard to financial products, as already described.


And private capital flight, coupled with shrinking foreign trade, many factories closed, it will cause a debt default of the transverse and the sharp increase in unemployment, leading to more downtime closed private enterprises, which will lead to production decline, and production decline will bring about tax reduction, (some of the taxes have been reduced), have been inflated, excessive demands that the government should raise taxes on the proportion of the surviving company, to make up for losses in tax revenue, so that even heavier burden of the surviving company survival more difficult, the only way to survive is to price increases, from the consumers, their money back, we will see in short supply leading to price increases.。 Sow from kill to pork prices, a few months, now is the time of the killing, the price will not be a long time.


On the other hand, the United States the economic situation will turn better Zaishujushang Zhu Jian, Zhe Yang, Jiu Wei and prepared the way the United States Tigao interest rates, Zhiyaodaliang foreign buyers (Biru China's private enterprises Lao Ban), Yi Cixing full purchase a number of prices Shang在 highs after the house, the U.S. government Jiu can add interest, land price down, and anyway, nationals are loans for buying a house, Zhi Yao month for Bubian them no Ying Xiang, Zhi Jie lost the the, are foreign to investors. .


American interest rates to rise, while house prices fell for the purchase of Americans have no effect, but the decline in real estate prices in the United States, could affect the world, after more than a year, the Bank of America won't do a lot of interest rate hikes were hung up (also hang several, but the impact is not big. The interest rate, now) tighten, let us become scarce things, push the dollar will lead other countries together with the interest rate. At the same time, China will appear mentioned earlier, because of the shortage caused by the rise in the CPI, in order to prevent inflation, interest rate also needs to be followed, as a result, China's real estate, is the last pillar, and subsequent fate is to bump the collapse.


With or without 85 000, Hong Kong's real estate will collapse, in the presence of gravity conditions, Apple may be thrown very high, but in the end, always fall back on the ground, the only difference, throwing higher and fall and fall more heavily. .


Behind the thing quite harmonious, we met when passing through fiction.


Once the real estate decline, China Construction Bank listed in overseas banks, etc., will be short, the rating into the trash, is the truth, they let out a loan, did not expect to come back. Hong Kong red chips, basically no non-real estate business, so basically not be spared, and we all lost it. .


Bank ratings declines, you need to immediately tightening, such short-term loans expired, did not wish to renew, this is a further blow to all of the industry, funding strand breaks, the boss had a thin volume, quickly run away, while remaining a butt rot. Corporate failures, the more the more Bank debts, rating will further decline and can only further tightening.


The more business failures, stagnant production, as price increases caused by inadequate production, we should become more common, all of a sudden, inflation went straight up, prices of everything we feel we should buy, and buy more, The more things not available in the market, merchants are hoarding, waiting for further price increases it. Thus, consumer prices will rise, inflation significantly. .


As a result, the interest in such a vicious circle, tight, causing the collapse of production enterprises, insufficient production prices, rising inflation and inflation lead to further increases in interest rates, money supply contraction.


Shrink the money supply, real estate is the most unfortunate, the house suddenly nobody wanted the rich feel will fall on hold out, and more people, and still no money to buy, buy, nor a loans. House can not sell, developers will run away, the banks even more bad debts, we should further monetary tightening. .


House sell off, no one House, that nobody had to iron and steel, cement factories, a door is a plant with tens of thousands of people, family members may have to eat, 1990s, Shenyang tiexi results, will become very common, Anshan iron and steel city like, but the days of up and down the knife!.


Industry, real estate is finished, the service industry to get away, and we ate a last meal, not knowing where the next Patton, who is going to recreation it? Have to work, not travel, and no work, no money for travel, and travel agent, can be better? Similarly, open a restaurant, and opened the hotel, who better? Anyway, the whole society, and no one run away. .


The Chinese are not official and private owners of these rich people, the more you give us, the Renminbi, take the family to go abroad, (have at home bare officer for years, and should go out. At this time, everybody), Bank of China with the United States, to lush LUCF?!.


However, gripping the bright red of the yuan, want to change U.S. dollars, how do? Brother find it. Bank for less than a dollar on the black market do not know how much, and anyway, the yuan in a hair out every day, things are soaring, this time, or the U.S. dollar pragmatic. .


The Chinese Government to spend, what people have to squeeze, private enterprises, down, ran away, also squeezed to the streamlining,?? the fight against corruption, that is, the dog bite dog mouth hair!.


Maybe 2010 will be a poor harvest years, said the United States this year, and financial constraints, farming subsidies do not give us, and American farmers not to plant wheat, and to the world food prices rose when the Chinese, according to bread / floor area ratio of buying a house, perhaps, the original house prices will fall below 1 / 10 Oh. .


About why Bank shares at that time very dangerous, it must go back to 1999, Zhu Rongji, Chris, that's when the economy is overheating, four State-owned banks to issue a lot of bad loans, bad debt is too much, in theory, have already closed down. This time, decided to set up four State-owned asset management company, receives all Bank debts, and the Ministry of finance guarantees, issued 10-year period, the annual interest rate of 2% of the bonds to the Bank, so that those banks fail back lanzhang, become excellent State-guaranteed bond, turned into a high-quality assets, thus completing the perfect packaging,, Hong Kong-listed in the United States.


Son of speculation the past few years real estate speculators, allowing asset management companies, to sell some collateral, at least pay for what interest, but in 2010, that is, the day of maturity of these bonds, these four companies sold, but not Minato not the principal, you know, the principal, up to 2.3 trillion yuan too! . .


Once these so-called high-quality assets become garbage, China's banking unit, is inevitable in overseas markets was selling, prices have fallen, in order to ensure that they do not close the door, and at that time, in any event, the Bank will tighten, otherwise, the balance sheet can't do, in fact already went out of business!!.


The same bank shares are listed on the mainland, overseas or in the mess, can reverse the domestic growth? Several big banks fall, A large cap stocks also can make it, it? Bank tightening, the most in need of real estate funds can continue to record high it? Of course, the same way, now wild speculation overseas funds Hong Kong stocks, the purpose is through Hong Kong stocks rose, driving domestic stock market, (so B shares have risen very quickly) that this is a pull, the foreign speculators can succeeded in their hands to pass the baton to the mainland stock investors, his Great Escape, the stock market crash was also in sight. .


, Is also, and perhaps today, as early as ten years ago the fated, after ten years, has escaped the fate. Then look to other clues as to the financial crisis, the Council only admire set, is too high.


After reading, there must be people who have bought a house ran out, the great inflation, my loans would be diluted, and we buy a house, and so too is inflation! . .


I would like to ask you, you can be sure that you also pay loan? don't forget China's mortgage interest rates, are followed by a bank increased interest rates, interest rates rise, your monthly payment will increase, salary rise, whatever the price, you are sure that you have enough money to loan? lost his job, but I slept in the street! ".


What, you the public sector units? To a lot of money in the post, you will not be laid off? Li Zi Cheng was on the state-owned enterprises (postal) employees ah, Le the waistband give money to buy status, are the first to be opened, because there is no money coming in, backing than you hard. .


Be careful not to also find you a bank specialized in debt collecting company, so you don't have a loan, die, China has no personal insolvency law, either in prison or the money to your grandson are also ... for you.


Some people would say, to not raise interest rates when the Bank is not like, and instead learned from Japan, 0 interest rates, not to all right? I can only say, as the yuan's faster hair, waiting for a ticket into Jin and Yuan. .


In 1999, gold $ 210, 12 dollars a barrel of oil, the Renminbi against the US dollar, euro, 10 black market than small, only the dollar over the past decade, we can't forget?.


On the financial crisis, the impact of the euro and gold, and other below it, like that of 1989, the United States, the main objective of the Soviet Union, the main objective of the financial crisis in Europe, while all of this, from the day of the birth of the euro in 1999 , the time bomb has been planted, and the explosion time is approximate. .


7: 30 am: wake up. The British Westminster University researchers found that those in the morning at 5: 22, 7: 21 minutes to get up and their blood has a can cause heart disease with a high level of material and, therefore, 7: 21 after getting more beneficial to health.


Open the lamp. "Wake up, it will turn on the lights, this will re-adjust the body clock, adjust the sleep and wake patterns." Loughborough University Sleep Research Center, Professor Jimuhuoen said. .


Drink a glass of water. Water is the thousands of chemical reactions within the body to carry out the necessary material. Drink a glass of water in the morning, you can add the status of water shortage in the evening.


7:30-8:00: brush your teeth in before breakfast. "In the breakfast before brushing the teeth to prevent corrosion, as brushing teeth, you can in the teeth out of the protective layer coated with fluoride. Or, on the other half an hour after breakfast and then brush your teeth." Health and safety of the British Dental Association Gordon Watkins, said the researchers. .


8: 00-8: 30: breakfast. "You must eat for breakfast because it can help you maintain blood sugar levels stable. "London nutritionist Kevin · Weir. For breakfast you can eat oatmeal porridge, these foods have a low glycemic index.


8:30-9:00: Avoid movement. From Bulunaier University researchers found that, in the morning for training athletes more susceptible to disease because the immune system function weakest at this time. Walk to work. University of Massachusetts Medical School researchers found that people who walk every day, sedentary than those who do not exercise a cold 25% reduced risk of disease. .


9: 30 pm: a day in the most difficult work. New York sleep Center researchers found that most people in the wake of an hour or two the most sober in mind.


10:30: Let the eyes a break from the screen. If you use computers at work, then every hour worked, let the eye rest three minutes. .


11: 00: will eat fruit. This is a drop in blood sugar in the body. Eat an orange or red fruits, do the same in the iron and vitamin C content.


13:00: add some of the bread and beans. You need a tasty lunch, and can slowly release energy. "Baked beans are rich in fiber, vegetables, tomato sauce can be used as a part of." Vilen said Dr.. .


14: 30-15: 30: lunch break for a moment. Athens University study found that those who every day at noon lunch break of 30 minutes or more each week during the lunch break at least 3 times, the chances of death due to heart disease will decrease by 37%.


16:00: a cup of yogurt. This can stabilize blood sugar levels. Yogurt drink between meals in a day, a heart-healthy. .


17: 00-19: 00: will exercise. According to the in vivo biological clock, this time is the best time to exercise, sherfield University kinematics doctor riwo · Nick said.


19:30: dinner eat less. Dinner too, will cause blood sugar and increase the burden on the digestive system and affect sleep. Dinner should eat more vegetables and less food rich in calories and protein. Eating too fast. .


21: 45: watching TV. The time to watch TV and relax for a while to help sleep, but be aware that, as far as possible not to lie in bed watching TV, this affects the quality of sleep.


23:00: a hot bath. "Appropriate to reduce the body temperature helps to relax and sleep." Loughborough University Sleep Research Center Jimuhuoen professor. .


23: 30: bed. If you get 7: 30 in the morning, and now you can ensure that you enjoy to sleep 8 hours sleep.


Any attempt to change the behavior of the biological clock, the body will have to leave unexplained disease, 20,30 regret years later, it was too late. .


A, 9-11 points for the immune system (lymph) Detox time, this time should be quiet and listen to music.


2, night 11 - 1:00, liver detoxification, need to be sleeping. .


3.1-3 points of bile, but also the same.


4, 3-5 am point, lung detoxification. Namely why people cough cough during this period the most dramatic action has come to the lungs due to detoxification; not use cough medicine, so as not to inhibit the exclusion of waste sediments. .


5, 5-7: 00 a.m., the Detox colon, the toilet stool.


6, 7-9 am point, the small intestine absorbs nutrients period of time, should eat breakfast. The best early treatment of patients to eat before the 6:30, and health in the 7:30 before, do not eat breakfast should change their habit, even onto the 9,10 point to eat than not eat well. .


VII. midnight to 4 a.m. time slot for spine blood must be sleeping, it is not advisable to stay up late. Why into State-owned enterprises--HP greater China President-yaw retirement offerings.


1, on the work and life. .


I had an interesting observation, many foreign companies are the 25-35 year-old white-collar workers, 40 employees over the age of twenty or thirty-year-old little, foreign workers are high-spirited, but foreign companies near 40-year-old manager of people are very embarrassing. I have seen near 40-year-old foreign managers have been switched on, the last and most jump to private enterprises, for example, Tang. Foreign staff success is the success of the company, not individual success, Siemens did the United States than the country, but does not represent the Chinese Manager of Siemens boss of the United States than the country strong, and can even be said. . Well, the problem comes, when these managers more than 40 years of age, they become very high salary demands, but they can, they are not so outstanding, as the boss of foreign companies, how would you choose? Some are just not high salary, to a bit leaner energy Chong Pei young people, some, why use you? . .





From this perspective, I am not too concerned about the first job in favor of salary, but no need to compare with first job's salary, which in just a middle school student is very common. Normal about 35 years to work, which is like a marathon, and marathon real difference is that no professional athletes in this competition, everyone is only a chance. To know that there are not many people even insist on the end, most people finally coming to an end, and only a few people running across the finish line, so at the beginning of time, grab a leading position and not much sense .。 Although the high starting point, but the increases limited and, later the young Chase under increasing pressure.


Two days ago I asked one of my sales, you will a couple of these things are learned on 2 years, but the new salary is required only your half of that time, how do you do? . .





Looks to win the semi-finals is not easy, but, is not so difficult. Because the law of this world is to give people a little complacent, while successful, has just won the preliminaries of the people often do not know just won the preliminary round, with the result that most people are a little complacent up, think they have understand the full, no more efforts to further study, they will think that the reason can not further their cause has not had. Although they are still difficult to deal with, but they do not patience, not tolerating the measure, and no clear long-term vision.。 Won the quarter-final, some have a wonderful professional managers, and became the General Manager of small and medium-sized companies, large companies, Vice President in charge of every year tens of millions or even hundreds of millions of business.


The final end came, to be honest I have not won the final, so for the final decisive factor can only conjecture on their own, this time in victory or defeat may be written in such as martial arts, we are all masters to wait for each other made a mistake, to easily defeat their opponents is not possible, in addition to the all the stops, also need a little luck and time.。 This and the game is the same, the final match between the master, who was less mistakes in the final.


Second, root. .


Your work happiness? work?.


There did not feel very happy for some time after work? Have not felt into the wrong line? There should not feel they were not treated? There did not feel like work is a painful mess to work every day? Have not wanted to change jobs? In fact, there did not feel the company has not had imagined so well? Do you feel this job is to find the original because the pressure of survival, and it is not right for you? You get what you want from work got put into effect? What you happy every day? . .


The end of the last angry man, have you ever thought, why are you unhappy? why you are angry?.


In fact, the root of your unhappiness is because you do not know what! You do not know what, so you do not know what to pursue, you do not know what to pursue, so you get nothing. .


I always think that career should first concern itself, and what you want? most people probably haven't thought about this issue, the only idea is – I want a job, I'd like to have a good salary, I know all people desire for salary, however, you want every few years to a time in the process of finding a job? would you like each year in this kind of work and salary of anxious spent? do not want to think clearly. Yinzhenzhike, not because they desperately thirsty to drink poison. . So you Yuehe Yue thirsty, more thirsty, drink more, into a vicious circle. Things can only lament unfair or untimely, only to come to vent an End of the World, in the failure to find little sympathy among the psychological balance Bale. Most people have to survive, I also have the pressure of survival will be a lot of anxiety, positive people will get power from the anxiety, and negative people will be lost because of anxiety. Must all make choices under pressure, which is troubled world, matter whether you like do not like worth mentioning. .


Generally we deal with is important and urgent matters, if you do not do important things often do urgent matters. Such as exercise to stay healthy is important, but the doctor was urgent matters. If not, is often the pain. It is important for fire prevention and fire fighting is urgent matters, if you do not pay attention to fire prevention, we must always fires. Looking for a job, think of yourself to what is important, it is urgent to find a job, if you do not want to, you will often want to find work. . (The work of many people as busy as the pain like the fire brigade, but also because the work did not do the important things.) Those who claim to live in misery to survive attend to so many friends, had difficulties to find a job today, you do not The important thing to do, is the result not the cause. If today you still as eager to find a job and not to think, then perhaps in the future to continue to bear the pain of job results. .


I always feel that I have to say about the heavy, requires a lot of thought, far more than the topic of the armed fighting tangxiao to boring, but there's no easy success, successful, to pay the costs. Please forget all of the small and medium enterprises survive stress, think about this life do you want most? so that the most important things you should think what you want.


Third, what is good work. .


Did Microsoft have a Tang, many young people in the University feel that this is their long professional career, I was in Tsinghua bbs post by these students are not, at that time the students want to go abroad or to foreign companies, but now it seems I was right, went to the Grand, Tang Chen Tianqiao was founded by Grand, a private company. A high degree of sea turtles in the top 500 companies in the high salary, which is about the dream of many young people, the problem is that graduates are doing this dream, Yes, but only 500 jobs.


People are to face, and it is like the comparisons, even at work like competition, whether it is not what you want.。 Do you want to know? 500 necessarily? find work is to consider what you want, and still others would like to see?.


Most of my college classmates were in the United States, and even graduated so many years, also recently went abroad. What is really so good to go abroad? My college students, most or Ph.D., postdoctoral fellows, visiting scholars to struggle, so far only one serious in an American university to get a formal teaching. What is difficult when the domestic professors? I have several cousins also went abroad, and their parents alone at home, no one to take care of, there are several people collapsed at home, no one knows, to go abroad, really such a glorious Why? As someone said, "A lot of things like watching films, watching people who think modern discovery, people who do not.". .


People always want to find the best, but what is the best? do you think is the best one, because you certainly know, or because others say he is the best? "even though he is the best for others, you must be the best?.


For what you want, they have to know best, other people's views are not so important. Many people are always other people's opinions are often influenced by the views of relatives and friends of the views of my colleagues ... ... The question is, who you really are to lead a life? Human life is not life-parents sequel, nor is their children's life and forward, more than a friend's life outside the articles, only your own life on his own responsibility, others can not and can not take this responsibility. Make their own decisions, at least until the end, its nothing to regret. For most people, normal intelligence, no major decisions made right or wrong, no matter how kind of choice, you can try.。.


I think good work should be suitable for your work, specifically, should be to bring you what you want to work, you may need in order to measure how good your work is not good, rather than take the company size, scale, foreign or state-owned enterprises, is not known, is not a listed company to measure. Small companies, not necessarily a good company, make money and more work and may not be a good job. You still must first figure out what you want, if you do not know what you want, you will never find a good job, because you always only see what you get, you get, are you do not want. .


Probably, the best in you, but you have not yet learned to cherish. People always staring at something at the expense of what those are.


4, ordinary people. .


I found that the Chinese people's inspirational and motivational exist in foreign countries is very different from the comparison of China's inspirational people make large are encouraged to volunteer, enduring hardships one day into the rich become expensive. While abroad, compared to encourage people to inspire courage to face the reality of life in the face of the plight of ordinary people, although the results are as rich as expensive, but the starting point, relatively speaking, I think the latter is more realistic in the operation of the need to use 999 a loser to stuffing a winner's story.


We are ordinary people, ordinary people mean that the probability of this is quite accurate. Therefore, we will not buy a lottery of 500 million, we will not be Bill Gates or Li Ka-shing, we will not fly fall, very few of us would venture successful, 30% of us will divorce most of us will live over 65 years of age ... .... .


So you want to own what you want when you want to have the "reality", you say I want to do it Ka, sorry I can't help you. As Bill Gates or Li Ka-shing, rely on life, I wrote this article certainly won't let you become their, even if you become their, and definitely not my thanks for this article. "Princes of the innate" but really when the Emperor is only one person, generals, not more. Targets higher for those who like to challenge, for the majority of ordinary people, it is easy to become discouraged dismay, it is easy to give up.


Looking back, the Li Ka-shing 50 times less money than you, he is more than you unhappy? Maybe. Have no more than 50 times you happy, certainly not. He than you most will be happy for a double, or even if you may not be happy. Find what you want is not competition with others, more than anyone else's quest for higher and more ambitious goals than anyone else. Although this goal is ambitious to become Li Ka-shing, but you do not see from the goals and objectives of the process of seeking to be happy, but basically you can not do. You have to listen to your inner voice, to find true happiness can get you something, that is what you want. .


What you want, or if it is called the target, the target is not in fact is you don't need to because their goals without great and I'm sorry, achieve their goals is in fact the success, the success of the happiness. We pursue successful chasing success brings joy, instead of success itself. Career path, we would often be complaining mind blindfolded, forget the pursuit of what was, what cannot be forgotten that we are more happy.


Community flourishes in the news a lot, these messages will always be in our hearts set off a lot of ripples, ripples become more waves, heart waves in addition to carrying your goal knocked the boat, and will not make you a night sudden wealth. "I saw a thief to eat meat but not the thief a beating." Those of us ordinary people have neither the courage when the thief, the lack of resolution when the thieves Henla absolutely, although the envy of meat, was more afraid of a beating, when I see a few The thief did not get pounded on Annaibuzhu, or mind activity, or a large sense of injustice, really do want to call a thief, but did not dare. .


I still have a day of ordinary people, ordinary people, at least, the pleasure of sleep at night.


5, quit and accumulation. .


First of all say that work is a sensible thing, so don't play personality at work, the end of the world's people will probably think that you have a personality and a telephone company, the company will not be because they feel you have a personality and your bills. When you're really nice to fire your boss, when you dig at cool doubled the recruitment of HR, Bill or pay you less time to earn, in addition to yourself, no one suffered a loss.


I am not opposed to change jobs, but quit not solve the problem, but the consequences of changing jobs frequently is people think there is no loyalty at all, and can not work without distraction. Now many people looking for work from the Internet, many looking for work sites often give out more bad idea, to know that they are profit-making enterprise, of course, profit from their own perspective to consider, Da Jia frequently change jobs more frequently the more business they are looking for a job booming, so encouraging people to quit their job. So they will often tell you that you get less salary, and you enjoy the benefits worse, is "Love Letters salary" is "praise the free-spirited soul."。.


There is definitely a problem to switch to general problems, and hide is not immune, and many people quit because of this or not as happy, if it is not happy at this company can not solve, then the next company Most can not afford to have resolved. You have to believe that 90% of cases, your company is not so bad, you think good companies are not as good. As Siege says in "the city desperately want to rush out and rushed outside who desperately want to go." Every company has issues every company, no problem is non-existent. A change of scenery you will encounter do not know what problems it would be better to solve problems out in the presentA lot of questions when you really want it, maybe is not so difficult. Sometimes you think that the problem cannot be resolved, in fact, it's just the "what do you think".


Life should be winding up the curve, and occasionally experience fear, are low but the twists and turns upward trend, not as often as the pulse back to the starting point, I have seen a lot of interviewers, more than 30 years old, 45 were work experience, as many as three years each, from at least 1 year, 30 years old to start over from the start and began a primary position, take the basic entry-level salaries, and the 20-year-olds to compete, do not feel a bit Why hard? What better this time? . .


。 In fact, it is to let you start time is the same and the original profession, somehow it up big step forward, as you know everyone is going through this process, each individual career will encounter several bottlenecks, you somehow and others do not survive you ahead. Run run people will know that the beginning is very easy, but soon there will be a first feelings, but it also can run a long, next will come second, adhere to the later can run for a period, and so forth, sorry again, until it was. . .


. .


You understand your customers? you know his biggest worry is? you enough to understand your boss? you know his biggest worry is? you enough to know your hands? you know his biggest worry is? if you don't know, why do you feel have accumulated enough? if you do not understand how you can let them help you, do what you want them to do?, and if they don't do what you want them to do, you be successful.


6, wait. .


This is a fickle people least favorite subject, and did not want to say that this topic, because it would cause too much controversy, but I have no intention and contention, but taking into account the long-term for career planning, this is not an escape, decided to write about, not love to see, please leave now.


Not always wear the red light will be hit by a car, not every offender will be caught, not every mistake will be punished, not every corrupt official will be shot, not your every effort will be In return, not your will every time someone insisted that every point you pay can not get a fair return, not every one of your good intentions can be understood ... ... This is the troubled world. Well, Shidao not good enough, but you have the courage to overthrow the troubled world What? If not, you have a better solution Why? Many times, people need a little patience and confidence.。.


。 There is no guarantee that they will succeed in the future, and they are resistant to live alone. If at the time they missed the "success can only belong to the privileged class," what do you think they will?.


Some people who I do not understand why the do not have the ability than I have to sit on my head, older than I would have to become a leader in my What? Why do some Black people do not need to be able to make money? Why just when reform and opening up so people can easily make money, and when our turn, what should be formalized? One day I suddenly thought, I was in school when they were struggling in the community struggle, they struggle in the society has accumulated over the next decade, we have new people come, some of them I like, I is not In a fair, am I to robbery. I might win too fast, because I could not help but lonely.。.


People will always be setbacks, the people there will always be low, and there is not always understood the times, people always have to be humble when it is precisely those times in life when the most critical because everyone will be frustrated, but most people could not pass the threshold, you can too, you will be successful. At such moments, we need to be patient, to wait with confidence, I believe, will not give up your life, opportunities always come. At least, you're young, you do not go to jail, no students can not cure the disease, since there is no debt owed is not.。.


Adversity, God help you out local competitors. To know that you feel good and others feel good and you stick to it no longer, like others, do not tell people you can not hold on, the only way people get uphold the confidence to players watching you smile face, loss of confidence, out of the race. Victory belongs to those who are patient people. .


In the most desperate, I'll go see the movie "The Pursuit of Happyness," "," let myself JerryMaguire again courage, because, no matter what time, we still have hope. When all the people leave, I do not lose hope, I do not give up. Everday to sit in the car, I like to sing the invisible wings of looking, I know, I'm still waiting, waiting for me at the moment.


If the original paste Li Yiji friends I like, write down here:. .


Everyone wants to own unique special users.


Key mouths born, reborn to a good home, work to the Power Authority to take such a small salary 1w probability event, of course, the best next to go. .


Red Army Liangwanwu, even sacrificing dignity, partitions and. ..


Naturally, not everyone had it tough person will be rewarded. .


However, any time, each with vested interests behind the ancestors fathers struggle and even bloody life figure.


Jealous of others having a good father, nothing can not. .


The problem is that your next-generation, there will be a good father?.


As asked why not have the same chance of winning probability? I can only ask: Why do species competition, and the monkeys can not have the same chance of winning probability? . .


Natural selection. Monkey's soul is not necessarily better than your humble, but you behind hundreds of thousands of years of evolutionary heritage ape.


7, into the on-line with the right people. .


In China, probably very few people is a job to do exactly that, notwithstanding this, the first job or some caveats, there are two things especially important that the first thing is to join the second thing is with people. First job for the people most affected are the boys ", a modern professional Division is very fine, we basically can only become an industry expert, it is not possible in multiple industry become experts. . In fact, no industry particularly good, nor particularly bad sectors which may have reported that the average salary to which the industry is relatively high, but they did not say that the average pressure that the industry is relatively large. Once the industry looks beautiful only to find so many places is not perfect, but outsiders can not see. .


To be honest, I have no money, so my advice is just a joy, not how to make a killing, we only discuss the ordinary workers. I think the choice of profession and, looking at issues cannot only look at the eyes. For example, in the past years, the country began to reorganize the medical industry, many pharmaceutical companies cannot continue, many pharmaceutical sales began to change. . Sometimes feel the industry to die, the problem is that there is not the industry, nobody else has also become a good trade, when we all feel bad, they often are the best of times. We all feel the financial industry is good, the high threshold of the financial sector does not say how many people Xiaojiannaodai to passage to the competition and incentive, but also constantly watch into the future, an oversight, who was later to be squeezed out, and the pressure great, How can we talk about happiness? Also not necessarily "good" job. .


Solar this thing still can't go into the practical application of the stage, but already have 7 and solar-related companies listed on the NYSE, GOME suning Yongle is in fact a trade enterprise, but also continuous listing, Lutai textile profit growth of more than 10 years 50%, sells tea in tea, clothes Hailan House are listed ... in fact, what industry really is not important, the key is how to do it. Things people do it, the key person.


One thing is to remember, and this world, ever get until we can foresee the future, successful people are always a few, are always a few rich people, most of the general, ordinary, less successful of. Therefore, most people practice and opinion, often not from the success of recent practice and views. So most people say that good things are not necessarily good, most people say good things are not necessarily bad. Most people note down the time to stock only a matter of time when all the more enthusiastic, or the closer the day. When most people buy a house, house prices will not rise, but prices rose in almost the same time, that most people start to buy a house.。 Some things even a bit of luck 1 have been, or are other time lost somewhere else.


Young people beginning careers, particular attention is to do the right things, do not let your life for decades to come is always nervous, but not worth for a job and lose his own youth. My company is a company not to pay bribes, before a lot of people do not understand, or even their own employees do not understand, but now we are the largest corporate peers, customers happy and we are dealing with, especially when the fight against corruption in the country, each Everybody knows the reputation of our business do not pay all dare to do business with us. The courage to give money to the company, not the other way, that is, running, or else sleep well every day, people still look at longer term.。.


With the right people is that after joining the good teachers keep up a good leader, who just joined the community to do things often do not experience, need some words and deeds. For a human development is a good leader is very important. The so-called "good" standard, not he make you less work and more money, but the following three. .


First of all, a good leader must have a broad mind, a leading daily temper, it almost certainly he is not a broad-minded people could lose his temper, temper's leadership, most of them are very powerful leadership. The Chinese leadership's biggest problems was a stronger capacity, so often you can see, leadership ability, there's a bunch of mediocre people or a group of men were on fire. If you see such an environment, or do not go well.


Second, leaders should willing to think in the perspective of subordinates, which is in fact, can be found from the time of the interview, if the leader is always considered from the perspective of their own problems, almost do not listen to what you say, this risk the. From the subordinate's point of view the problem statement does not mean agree with subordinates, but he must understand the position of subordinates, subordinates why think so, and then he have to convince you, only how to care for their leadership is often difficult to obtain convincing subordinates . .


Third, the leadership responsibility, if would take responsibility, with credit for exercise in respect of themselves, such as it leading to. Selecting leadership, to select a key moment resistant to withstand's leadership, ability to pay of the error, the leadership of because it is his responsibility as a leader.


Possible, you can not touch a good leader, because China's leadership is often the butt decided to head for leadership, the leadership position because he was sitting, so he would be relatively reasonable, this is the error of the traditional concept of official standard, there may be a large number of This ignorant and incompetent leadership, but it is good for you, if someday you want more than him, you hope he is smarter or more stupid? Relatively buttoned such leadership is not difficult, but you should figure down to just their own.。 And those who are your people, they say, learn from them, and then talk to more people.


8, selection. .


Every day we do most of things, in fact, is to select, on the career of time had to mention this topic.


. .


Part of our future is not given, is our own choice, a lot of people will say you understand me, Ah, no choice, if you think "going to Microsoft or IBM," on "or" Tsinghua University, Beijing University on "when the sales VP or when the Director" is a choice, indeed you have no choice, most people have no choice. . You always have a choice. Some options are not immediate impact, the need to accumulate, such as farmers often choose to pour in, you can also choose to let God to pour in, be sure you are watering down this vaccine does not necessarily grow out of this immediately, but often casting water, most of the seedlings will eventually grow back, if you do not cast, the harvest will be very bad. .


Daily life in give you the opportunity, he will not give you a pile of cash would not have to give you a good job, but in fact, he was in. My family is an ordinary family, without any great relationship, my father graduated from being assigned to the frontier, the little town is only one road, their generation is actually better than we have reason to complain, they get nothing, when the cultural revolution, books are not read to support frontier hadn't until they are old, but wanted to give young people the opportunity. He had sufficient grounds like tens of thousands of young people sitting there complaining about the same time. . Graduate school, he was assigned to a small unit in Anhui, is 3 years, the state of the first doctoral student enrollment, he returned to the original school exam, to become China's first generation, Dr. his time than I am now age is still large. Did not give up his life, he did not give up life. 10 years of waiting, he made his own choice, he did not give up, he did not 破罐子破摔, so when the time comes, he changed his life. You will eventually become the kind of person, it was decided in between your every little choice. .


You choose what to believe and whom you choose, you select the friends you choose what to do? ... we are faced with too many choices, those choices, and ideological level choices than the objective conditions of selection is much more important, for example, to select what product is not so important, but how to do it. Select what kind of person is not important, but how to bring these talents selected. Most of the time select the objective conditions and the most objective criteria to select no of important thing is to choose what to do. . .


In addition to these, you can also select the time and the environment, for example, you can choose to put my most difficult greatest strength is the most energy, you can also look at one step, wait until the next 40 years, it is only 40 years old, that's exactly what my life the most vulnerable, there are old, if at that time I got caught in a career crisis, is a worse. And so it is better to 20-30 years old when I eat something, so that their own fragile live comfortably. . .


I dare not say all the things you have to choose, but most of the things you have to choose, but often you don't take this as an option. Seriously every choice would have a better future.


9, choice of occupation. .


Professional's choice, in General, is nothing more than sales, marketing, customer service, logistics, administration, personnel, financial, technical, management, several broad categories, there is an interesting phenomenon is that 500 CEO peak sales origin, the second number is the financial, with probably more than 95 per cent. Modern technology IT industry has become the boss of the origin, but the fact is, afterward they engage in a lot of sales and marketing work, and the only outstanding performance, the company has been successful, solely on the technical capacity to become the boss of the company, with almost no. . "The financial figures are from the level of understanding of the nature of the business, from a macro view of the nature of the business, whether for a business to make money, whether it is working properly with the most profound understanding of..


When the company is a sales-driven company, but when the company is a leading financial company, sales is limited in favour not only look at the figures, financial limitations that do not look only at the figures. Initially, the operating cost is low, the order will live on, talk to the customer no negotiations, others are willing to do business has thankfully, this time of the order of overriding requirements of the customer, so of course the overwhelming to gu. Company, is a standardized, so as not to standardize caused some unnecessary risk, while operational costs are high, the need to improve the profitability, the limited funds into the most productive place. . .


Two days ago I heard someone say, I felt very reasonable, beginning we want to "do?" and wait until the company bigger scale, we'd like to "you cannot do. "A lot of people at work, think and why it is so conservative leadership is out of it, Miss many opportunities. Because you're young, you want a "can do", but as the company leadership to consider aspects of many, he is more concerned about the "can't do".


I am not advocating we all do sales or finance, how to choose what kind of job, and you really have to choose what kind of life there are relationship, some people like to work on time to go home, take a look at books and listening to music, that's very good , but not suitable to find a sales job, otherwise they will be tortured themselves. Some people liked the limelight, love being the center of a group of people, if you choose to do financial work, probably soon thereafter, because most bosses do not like to finance too positive, not like the financial talk too much. Think of yourself first, how to lead a life, and then decide what kind of job to find.。.


I think because we live and work, not because of work and life, life is most important, is only a part of life. I always feel that all aspects of life are interdependent, and if life itself is a confusing situation, the work will not be smooth.。.


. Work every day very depressed, and the rest of the time to chew depressed, will fall into a vicious circle, make life worse. .


Although HP only 15 days, but I feel it is Hewlett Packard on far away. I feel more in planning their second stage of life, this does not mean that I have no attachment to Hewlett-Packard, mainly as a driver yourself going forward.


Vanke Wang Shi Everest experience gave me a lot of inspiration, although the departure carry large amounts of material, but the summit process, must continue to reduce the load, ultimately only one oxygen bottle, and he reach the summit. Climbing so, long life time too. .


I announced his retirement, received the congratulations of his classmates, colleagues and friends. Most people think that I can in such positions and select retirement age, is a kind of courage and a blessing.


I also suspect that some people just take this opportunity to change jobs, of course, some people say I can not go on at HP, and take this opportunity to leave. .


I have used someone speaks to me, but for my friends, I was concerned about whether or not we really understood what I think, this is as of this writing purposes.


My father died young because of the impact, I have long determined to achieve their aspirations in their lifetime, and I do not like my father, for the busy family life, life, death before the sad, upset, many do not realize their ideals. .


A magazine article that we should be thinking about his own Epitaph, because it represents your own definition of the perfect life, we should try to implement it in their lifetime.


I want my epitaph on the addition to family and friends about the content, is it this way:. .


1. this person ever to serve one of the world's largest IT company (HP) for 25 years, and she lived with a number of significant changes, watching her from the electronic instruments for a major business transformation into the world's largest IT company.


2. . That the person in the world's fastest growing countries (China) for 16 years and served as president of HP China, 7 years, witnessed and experienced the key to China's reform and opening up, the latest breakthrough in stage and grow together with China. .


3. the person who has a passion for flying, was once a licensed pilot, flight hours accumulated over X hours used in x number of airport/landing too.


4. . That the person received an MBA in leadership and management of Chinese enterprises on the special attention of organizational behavior and performance, and gain in this area recognized by the Chinese business community. .


I took a 25-year summary 1 and 2 only two results, I do not know how long it will take to reach but also time-consuming 3 and 4, in particular paragraph 4 aspirations through academic training will I experience into knowledge.


Otherwise I will not effectively influence the experience and teach others. So to re-enter school, take a degree in management is necessary, not to mention a very important This is my desire. .


On the other hand, I am 25 years ' time is spent on operations (operation), dedicated to the work of professionals, it is a good job, especially in HP, it also helps me establish financial foundation to support the development of the family.


But I do not want to end their lives, are caught in the operations area, I imagine, like entrepreneurs, have the opportunity to rely on some ideas (ideas) to make money, although the risk is high, but worth a try, even if the failure, but also tour worthwhile for a trip, This is the 4th part of them wishes. .


Carly Fiorina has ever said to me "the world have a good idea, a lot of people, but have the ability to very few people realize," May 21, 2007 in PKU, someone asks those books have a greater impact on me, I would like to have an impact on my life and one book called "TriggerPoint", its main points are: life needs most is not a plan, but rather at the appropriate time to grasp the opportunity to take action.


I these aspirations have been brewing in my mind for a long time, beginning, perhaps once or twice a year to, also had a forgotten, but gradually, the inner voice is getting bigger, the frequency appears also rising, when it would come almost every week talking to me, I know the time is ripe. .


But, like anyone to lose their own have right now, the familiar environment and stable income, go to their own, never an unknown risk road, you need a great courage, family support and the encouragement of friends. There is a shed, it is easier said than done, I am glad that they finally took the first step.


I want to thank HP for EER early retirement incentives, it is one of the key TriggerPoints, another key factor is what happened in June last year. .


When I first graduated from University and graduated from high school, the second, they continue to work and study, this is a prime time for our family to get together for a long time, and I plan to leave very early on a long vacation, with them to play everywhere.


But this plan as an important issue at work (Mark Hurd's visit to China) had to cancel. The incident spurred me to be serious to deal with that inner voice, I will continue to miss many of the key opportunities?. .


I have over 50, I will go and I am a father of Charles road? personnel manager told me that many people in all of the stars are formed into a column or a missed opportunity.


I know why, because people give up and change how difficult it is, I believe most people have their own ideal of life, but I also believe many people eventually just put these ideals as is. .


Fantasy, and continuously seek to achieve the excuses, former President of South Africa Nelson Mandela once said, "and change the world, it is more difficult to change yourself" really hit the nail on the head.


What is a happy and meaningful life? I believe the definition of each individual is different, for me, to realize the contents of my epitaph on my definition. .


China Hewlett-Packard executive position, of course, you can attract a lot of attention and eye, but my wife and a close friend, know that's not what I seek, it's just to play this role must be the best place.


Those who did not make a business card, although only a dozen days, but I found my head was empty and a lot of space and energy, so I can quietly for my new life ChapterII do meticulous research and planning. .


I subscribe to two years to complete the preparations for the transition, and spend more time with your family together. These two years I hope to get a license, get a master's degree in management, improve the standard of English, the establishment of a new network, to learn more about the different industries maintain links with mainland China. Hope that after two years, I can go back to the Mainland to realize my fourth aspirations.


Not surprisingly, in life, I found that many areas need to be adjusted. .


Over the past 20 years, my life's pace and rhythm, almost entirely by the company and work, unceasingly emission of deadline and task driven my daily schedule, once you leave this environment, the first adjustment is to rely on its own self-discipline and willpower, to driver's activities every day, slept to naturally wake up attitude absolutely incorrect, relax, do not give things setting objectives and timetables, or missed time objectives does not matter, it is not correct, not annual, quarterly, monthly and weekly planning also incorrectly.


As a senior manager for many years, has cultivated the habit of explain things, mainly spent their time thinking, decision making and tracking the progress of the project, more is to rely on a large team to implement the specific issues and the secretary to deal with a lot of coordination and red tape thing. .


After a lot of things you need to call an 800 number to call, but the phone is busy, often let you in on waitingline wait a long time, when I wait, I can experience previously Secretary of the hard work, but also to remind myself that at this stage to change attitudes and fostering greater tolerance and the capacity to do it yourself.


The content should make a great living adjustments, and more time for exercise, more time to care about his family, more time to care about friends, more time to experience different leisure activities and flight, step by step, and I hope to gradually adjust to life I look forward to the track, looking forward to this two-year life of a substantial and full of fun and significance. .


The first happy experiences and it is ready to join eldest son and of the wedding, that kind of dedication, no need to worry about job numbers feels better. At the same time I also rented the apartment, bought furniture and car, family weekend to Reno and Lake Tahoe dance, I went to several LakeTahoe, but this time I experience different, from the heart to appreciate its beauty.


But I am also stepping up research work, for universities and flight schools to prepare for this time and in the Silicon Valley venture capital firms and some friends met to understand the different industries. .


My philosophy is the "perfect performance from adequate preparation," and "the courage to change and adapt to changing environments, opportunities will emerge," and "happy and meaningful life comes from realization of the aspirations of your heart, rather than external applause".


When I left, there are two good friends gave me two different wish words, Baron is the "merits and demerits of dust for years," Yang Hua is "Mo Chun who, praying for rain, the wind almost dance, chant and go," they I left HP, respectively, and represent the feelings into the future. .


I summarize the three stages of life, a stage is a reality and find a job, a stage is a reality, but you can choose a willingness to work, a stage is ideal to do certain things.


I value my blessing, thank HP and colleagues, and friends gave me support, encouragement and assistance, this text of the article with my friends to share feelings. .


Winged is not necessarily the angels, birds and people.


Sales should be: a brand-name suits, a laptop, there is a certain taste, conversation mean something, casually bring out the point of expertise. Not low without looking up the chin, he walked with a touch of friendly laughter. He has a pair of eyes focused; not looked sharp and not chaos cast a glance. .


Generally speaking:.


And wise words, to show informative. .


And knowledge of people speak, the need for rational.


People with high status, attitude to be imposing. .


And who speak, humility and courteous.


And the rich words, words, happy to be liberated. .


And the poor, to moving to lure.


And brave man to speak, not cowardice. .


And stupid people to talk, you can join a little Lucy, a strong presence.


Sales activities:. .


Want to convince customers of the Supreme Leader, boss level must be the "odd" and "alien" something to impress him!.


Want to convince customers to use the lower the staff to lure his personal interests! . .


。 . .


May 16 10: 50 am-12: 30, 2009 Lujiazui Forum Symposium 3: US economy and the global economic recovery in the second floor of the Shanghai Pujiang floor. And the whole text InfoNet announces that the following is true: "speech.


[Xie] Thank you, small years, very happy to have this opportunity to exchange views with you here. There are many different views on that before, how would go. Today we talk about the topic here is to restore, but I think this topic actually premature. Now the market increased by 30% restored, many people think the stock market is a barometer of the economy, the stock market recovered, the economy did not have the relationship will certainly be better after six months. September 2007, when, just when the subprime mortgage crisis, the world many people have said, these people are smart, the central bank in the past faced with this problem resolved. Now have this, the market is optimistic that many in circulation.。 We want to see the three things, past financial problems of bad assets, the financial system health. At that time, the Government considers that it should be out money to inject, ?? ° ??¨? — for political reasons, and injection of impossible, now play the game, you said that the US Government said stress tests. Because people do not trust, markets, banks, Government says you can rest assured that I'll be a stress test, really visualize, doors locked up, ran in and pressing, and then open the door said nothing, I didn't die. This is not a black box operation on a long-term basis to win the trust of everyone? I think this is one thing.


[Xie] European banks, U.S. banks, in my view, the above technology is bankrupt, there is no capital. But the government, this desire is to allow banks to own transformation, again fill the hole. So to pull a very large interest rate differentials, short-term interest rates low, high interest loans. Use this to solve the shortage of equity capital, it will take time. My own personal opinion that is the best of circumstances the following at least 5 years, the banks can recover money through their own recovery. Among banks in the economy is pulling back leg. Now, since we are family debt crisis, banks through the money, whose money you earn? Earn the family money.。 I think this way, there is nothing in place to deal with the crisis now, now is a stimulating the economy and fiscal stimulus. Tax cuts, such as government investment and so on, I think this is also when the money does not take into account an economic structural adjustment problems, in the continuation of the current economic structure. Think that over time, we'll go back to yesterday, like yesterday, the stock market, property economic growth are popular, very quickly. But I think this kind of thinking that today only little money, stabilize, and go back to yesterday, I think this is a rather naive view. . .


["] The future world we should? over the past 20 years is the growth coming from Greenspan high-speed growth in the world, I think mainly because of two things, productivity. One is a high-tech, is IT to increase productivity, a globalization that is cheap labour. Two things make relatively high productivity development, Central Bank policy, Alan Greenspan, banknotes to the capital market inside, causing the stock market bubble, the property bubble. Financial industry why walking is because so much? this exceptional times quoted, but will be digested, the world economy is likely to be long after a sluggish growth. . .


["] I think that developed in the future is very bad, the most fundamental problem in developed countries, a social welfare costs are too high, the ageing of the population, this problem has existed in the past, but because of globalization, because IT was hidden, so that they also have a period of growth. But the bubble after exposure, long-term economic might not come back, what if the next appears in science and technology, we do not know. . Japan's population decline is the same, less likely to have high growth. The United States better than Europe and Japan, the population is still growing, but the U.S. has a debt problem is too much problem, so the American people to save money paying off debts, this is a good thing, but on the economy, short-term is a bad thing . So this is a very long process, the rate of decline in household debt, this process, there will be an economic downturn. .


["] In developed countries, in general they say developed countries accounted for 70% of the world economy, will slump. So for our situation is not optimistic. We are now singing the good integration of developing countries, developing countries have the potential, the per capita production output is relatively low, the savings is quite high. But developing countries this 20 years depends on exports, export development economy, economic pattern is not doing well, from the export-led economic model to maintain the balance of the domestic economy, which is the need for structural adjustment. This is a lengthy process, even on the way are also needed.


[Xie] today that the issue resolved soon, this may be a hasty, and for China, as just said to stimulate the economy, temporarily stabilized, but did not solve the fundamental problems in China. China's export dependent economy than Japan, South Korea to be more dependent on exports. So the bad situation in the export of the following, the possibility of economy to return to growth is not great. Now the government throwing money at, to maintain it, actually limited. If you really mobilize domestic demand, domestic demand is to mobilize the Chinese family. We say that a dozen years to stimulate consumption, and stimulate spending, but the proportion of consumption in the economy which has been declining, this has been a slogan, no concrete action.。 Many people think that the Chinese consumer is inadequate, because they do not dare to spend. In fact, people are not spending in China is the most important reason is no money, no solution to this problem is very difficult, the main Chinese wealth in the hands of the Government. A market economy, wealth in the hands of the family, consumer, labour market, wage or continue further accumulation of wealth, which is a virtuous circle. If wealth accumulation in the hands of the Government, is not supported by the consumer. We are so dependent on exports, mainly caused by this. This does not resolve, China's economy to recover high growth is very difficult. . .


["] Can look now, we feel quite good, can look bad? banknote out engage, without any cost to everyone sub chant. The ultimate printing banknotes this thing will have signs of inflation, inflation has already begun to decline, the US retail. 0 .4%, wholesale prices 0. .5 percentage, the monthly figures do not speak of a trend, but at least in the case of weak demand, inflation is below may appear in the 1970s, we have the experience, the Decade is stagflation. So, I think next year there will be inflation, inflation starts to collect the money Central Bank, at least not on money, this time I think is the most painful has come. . .


Yifuxian demographers.

This time by the U.S. mortgage crisis has triggered a financial crisis and global. Logically, as a big market with 1.3 billion people, should not be a big shock, but China has suffered considerably. There are two reasons:. .

1, China hold 4000 billion "two-room" (Fannie Mae and premises-us) release of long-term bonds, and Treasury 5187 billion. The u.s. economic crisis led to depreciation of the dollar in international pressure, the RMB has led to China's $ 9000. devalue the US debt.

2, China's economic dependence on foreign trade (imports and exports during a given period and the ratio of GDP) up to 70% [1], the international financial crisis led to developed countries, consumer spending is shrinking, demand reduction, thereby reducing imports to China, many Chinese enterprises are forced even cut off, a large number of rural migrant workers to return. .

Now the financial crisis unemployment, many scholars believe that thanks to China's family planning, or the more serious unemployment problem, think it should insist on family planning is not shaken.

In fact, "leading to employment, population pressure" point of view and Aristotle's "speed of a falling body is proportional to its weight" theory as absurd. 300 million U.S. population, the unemployment rate is 4. .8%; Brazil, an area equivalent to 91% of the U.S. population 1. .9 Billion, only about 63% of the United States, but the unemployment rate is as high as 9. .6%. India 11. .48 Billion people, the consumer market, to provide 5. .1 Million jobs. Japan 1. .27 Billion people, the consumer market, can only provide 0. .67 Million jobs. Galileo used the "two ball while landing" of the trial overturned the Aristotelian theory.。.

The author of "empty nest big country," Chapter 13 has already analyzed the problem of unemployment because of changes in industrial structure and reduce the new population will not ease the pressure of unemployment actually increased the employment pressure. Family planning, population structure caused by the abnormal family's household consumption structure of the secondary deformity is the economic issues (including unemployment) roots. Ancient agricultural society with low unemployment, low unemployment rate is now the third industry, because "one to one" supply and consumption, production and consumption easy harmony, unemployment is low.。 [2]。.

Can be seen from the financial crisis, China's current export-oriented economy has come to an end. China's export-oriented economy requires two necessary conditions:. .

1. adequate domestic labour force. From the 1950s until 1991, in addition to the great leap forward in the past few years, every year of birth in 2000 million or more, where in 1963 to 1974 the 12-year average annual birth 26 million. Huge these time-born population become labor, is China's economic take-off of the main reasons. Since reform and opening up, China's rapid economic growth, not money, not technology, is not a resource, but the population is abundant labor resources.

2, a stable international market. Developed countries have emerged after World War II baby boom, the baby boomers to promote consumption, thereby promoting the production, developed countries, economic golden age for decades. Young labor force structure to promote the ongoing industrial upgrading in these areas. 1960,1970's, the U.S. baby boom led the toys, cartoons, pop music's growth; in the 1980s, married into the active phase of the baby boom brought about real estate, auto industry growth; in the 1990s, into the consumption of gold of the baby boom has driven the growth of personal computers and the Internet.。 Due to the developed industrial upgrading, low-end products to Taiwan, Korea, and free markets, as the rise of these areas has brought the opportunity. After the 1980s, China has gradually took over the low end of the industrial products market.

The adequacy of the labor force and its extensive international market has placed China in three decades of prosperity. But the Chinese are the two advantages gradually lost:. .

1, due to family planning, and China's young labor force has started to decrease, China's labor force advantage is lost; and India, Pakistan and other countries because of the young population structure, is taking over the low-end market, China increasing competition.

2, the international market is shrinking. In addition to the United States, other developed countries all have suffered decades of low fertility, population structure is aging, like the 2008 in a young country were: Norway 39, France 39. .2 Years old, Germany 43. .4 Years old, Australia 37. .1 Years old, Canada 40. .1 Years old, Sweden 41. .3 Years old, Switzerland 40. .7 Years old, Belgium 41. .4 Years old, Japan 43. .8 Years old, United Kingdom 39. .9 Years old, the United States 36. .7 Years old, Netherlands 40, Italy 42. .9 Years old, Spain 40. .7 Years old, Austria 41. .7 Years old, Portugal 39. .1 Years of age.。 Young consumers, industrial upgrade and elderly consumers but makes industrial stagnation, the population has developed industrial upgrading, but now the United States and other developed countries outside Australia, in the young are around 40 years old or above, gradually lose the industrial upgrade needed mental and physical infrastructure. China, India, Brazil and other developing countries and developed countries, the gap is narrowing product grades. For example, in the 1980s, refrigerator, TV, etc is fairly high-value-added products, China needs to export large quantities of garments to buy household appliances in Japan; but now the quality of Chinese household electrical appliance and there isn't much difference between the developed countries. . If developed countries like China, then the industrial structure, trade deficit will undermine the relationship between production and consumption in developed countries, there will be serious unemployment pressures, such as the employment pressure in China was to be transferred to the developed countries. However, employment in the tertiary industry has developed more than 70%, the proportion of its manufacturing sector is very low, thus far, the employment of cheap Chinese exports to the developed countries is not very serious impact. However, if China developed long-standing trade deficit, then there is no foreign exchange to buy Chinese products, in this case will set up trade barriers to protect their traditional industries, otherwise there will be unemployment. .

Visible for China's export-oriented economy has come to an end. The future of China's economy relies on domestic demand. Development of domestic demand, you must have a sound structure of the population. Society as a whole, depends on the production, while production depends on consumption, consumption depends on the population, population, employment opportunities are few.

"I": "30 spokes of a wheel, when it is not, use a car. Gems of that device, when it is not, there are devices used. Chisel users-you think that room, when its not, there is room only. Therefore, has the advantage that no use of that. " PRESIDENT: 30 spokes to a hub in the collection of holes in them, with the vehicle hub hollow place, only the role of vehicles. And clay pottery, is because of the cavity, only the role of pottery. Doors and windows made chisel housing, because of leaving more room, have a. .

The role of housing. Therefore, "a" functions to none. Production ("") as a consumer ("no") service is a powerful development of objective law. Countries have emphasized the harmony between production and consumption.

According to the CIA The World Factbook Web site information [3]. Global population in 2008 67. .07 Billion, the population growth rate is 1. .188%, Then the population in 2007 was 66. .28 Billion, of which the working population of 31. .13 Million, the proportion of producers and consumers 46. .97%. The following are areas of the world's population at 10 million (North Korea, Iraq and several other regions due to incomplete data, not included) labor (producer) and the total population (consumers) ratio. .

Area.

Ratio. .

Area.

Ratio. .

Area.

Ratio. .

Area.

Ratio. .

Afghanistan..

45. .9. .

Cuba.

43. .4. .

Malawi.

32. .3. .

South Africa..

42. .0. .

Algeria..

27. .8. .

The Czech Republic.

52. .4. .

Malaysia..

43. .3. .

Spain..

54. .8. .

Angola.

57. .0. .

Ecuador..

32. .4. .

Mali.

43. .8. .

Sri Lanka.

35. .4. .

Argentina..

39. .6. .

Egypt..

27. .0. .

Mexico..

40. .7. .

Syria..

27. .7. .

Australia..

52. .1. .

Ethiopia.

33. .0. .

Morocco..

33. .2. .

Taiwan..

46. .7. .

Bangladesh.

45. .2. .

France..

43. .6. .

Mozambique.

45. .1. .

Tanzania.

50. .7. .

Belgium..

47. .5. .

Germany..

52. .9. .

Nepal..

37. .6. .

Thailand..

56. .3. .

Brazil..

51. .1. .

Ghana.

48. .4. .

Netherlands..

45. .7. .

Tunisia..

34. .6. .

Burkina Faso.

32. .8. .

Greece..

45. .9. .

Nigeria.

34. .3. .

Turkey..

32. .7. .

Myanmar.

61. .3. .

Guatemala..

30. .4. .

Pakistan.

27. .9. .

Uganda.

44. .7. .

Cambodia.

49. .2. .

India..

45. .7. .

Peru..

33. .7. .

Ukraine..

46. .9. .

Cameroon.

36. .2. .

Indonesia..

46. .3. .

In the Philippines.

37. .7. .

United Kingdom..

50. .7. .

Canada..

54. .0. .

Iran..

43. .6. .

Poland..

43. .8. .

United States..

50. .8. .

Chad.

37. .1. .

Italy..

42. .6. .

Portugal..

52. .6. .

Uzbek.

53. .4. .

Chile..

43. .6. .

Japan..

52. .4. .

Romanian..

41. .8. .

Venezuela..

46. .8. .

China.

63. .5. .

Kazakhstan..

53. .6. .

Russia..

53. .4. .

Viet Nam..

53. .9. .

Colombia..

45. .6. .

Kenya..

31. .2. .

Saudi Arabia.

23. .3. .

Yemen..

27. .4. .

Democratic Republic of the Congo.

22. .6. .

Korea..

50. .1. .

Saiga Nell.

37. .7. .

Zambia.

42. .8. .

C?te d'Ivoire.

34. .2. .

Madagascar.

36. .4. .

Serbia..

29. .1. .

Zimbabwe..

35. .5. .

From the above table shows that most countries the proportion of producers and consumers at 50%. Saudi Arabia and other countries the proportion is very low, there are two reasons, first because the country's birth rate as high as $ 3. .9, because only women's labour force participation rate of 22%. More than 55% of the only China (due to family planning), Myanmar and Thailand. But a high proportion of Myanmar was due to the fertility rate has been reduced to only 1. .9, due to causes such as AIDS, Myanmar infant deaths and childhood mortality is very high. Thailand's current unemployment problem was not serious, mostly because the country's manufacturing industry practitioners only 14% (first, third industry workers accounted for 49%, 37%). . Thailand, only 14% of employees in the manufacturing sector, but more than 100% dependence on foreign trade, international markets Any sign of trouble, it will affect the country's employment. Thailand is a democratic country, the country's 49% of the agricultural labor force is difficult to transfer to the second industry, the impact on political stability can be imagined. .

In 2007, the United States population 3. .012 billion, of which labour is 1. .531 billion. Means that the producer in the United States 2007.1 billion consumers .531 3. .012 billion, the proportion of producers and consumers is 50. .83%, basic is the ratio of 1: 2. In this case, the u.s. unemployment rate was 4. .6 percent. The United States industrial restructuring has been completed, only 0. .6 percent of the workforce engaged in primary industry, 22% secondary industry .6., and in the tertiary industry workforce up to 76. .8%.

Japan's total population in 2007 1. .273 Billion, of which labor is 0. .6669 Million, the ratio of producers and consumers 52. .4%. Rate of about 3. .8%. Japan 4. .6% Of the workforce engaged in agriculture, 27. .8% In the secondary sector, 67. .7% In the tertiary sector. .

Brazil 2007 population of 1. .94, labor for $ 0. .9923 billion. The proportion of producers and consumers is 51. .16 per cent. The unemployment rate is 9. .5 percent. Brazil 20% of the workforce employed in agriculture, 14% in the secondary industry, 66% in the tertiary sector.

India's population in 2007 was 11. .30 Billion, of which labor is 5. .164 Billion. The proportion of producers and consumers 45. .69%. The unemployment rate is 7. .2%. India 60% of the workforce engaged in agriculture, 12% in the secondary sector, 28% were engaged in tertiary industries. .

China's development level is between Brazil and India, the world is a medium level. According to the same Web site above, China 2007 labor is 8. .007 billion. 43% of the workforce in China engaged in agriculture, 25% in the secondary sector, 32% in tertiary sectors. Which, according to the official propaganda, the end of 2007 among 13. .21 billion [4]. But the National Statistics Bureau acknowledges that data and objective data, 2004 this gap to 4600 million people (mainly children), and the error "there is growing year by year" [5]. . .5 Million. According to the 2005 sample survey of 1% of the population in recent years, more than 1300 million births each year, more than 900 million deaths, the actual increase of only 400 million per year, then the actual population in 2007 only 12. .6 Bn. Then in 2007 the Chinese producers and consumers as high as 63. .54%! Serious surplus production, while domestic consumption is very inadequate, production and consumption structure of extreme deformity! . .

If the Chinese producers and consumers of scale like Brazil and the United States that is 51%, China's need 15. .7 million consumers. The author of the big empty nest, "Chapter 4 analyses already, even though no 1980 introduction of the one-child policy, but a complete cessation of family planning, 2005 increased by more than 1. .3 million (the most exaggerated estimate is 2. .2 million) people (consumers), only in the early 1980s was born approximately 3 million into the labour market, as opposed to 8 million labour force, the proportion is not high, and now lack the age of the workforce (i.e. 20-year-old does not follow the 50-year-old man Rob). . That is, if 1980 on the complete cessation of family planning, and now the total population of only 1.5 billion, while the labor force than it is now 8. .007 Billion, also slightly less, the proportion of producers and consumers about 52%, the relationship between production and consumption more harmonious than now. .

China currently has more than 200 million labour force is engaged in the industry, the production of industrial products can meet the 16-17 million population needs. If you do not have the international market, then China will have a large number of unemployed.

From the population, China's share in the international market has reached its limit. 4, 2008, the EU population. .91 Billion, the United States 3. .04 Billion, Japan 1. .27 100 000 000, Australia 21 million, Canada 33 million. 9 total population in these areas. .76 Billion, of which labor 4. .71 Billion. Only about 24% of the labor force (1. .13 Million) will be able to meet all of the 9. .76 Billion people, the demand for industrial products. In other words, the 9. .76 Billion in the consumer market can only provide one. .13 Million manufacturing jobs. Suppose 50% of these areas by the Chinese industrial production to China only to provide 0. .。.

China also accounted for 43% of the agricultural labor force, while manufacturing employment has been very difficult to absorb the. Is to develop the tertiary industry, and the third industry and domestic demand are highly correlated. .

In addition to the population structure is not conducive to the development of domestic demand, China's current distribution system is not conducive to the development of the domestic economy. According to the people's network to publish information on the national development and Reform Commission [6]:.

1, "1990-2005, wage income of urban and rural residents in residential share of total income from 45. .3% And gradually increased to 63. .2%." .

2, the total wages of "China's gross national income of GDP in 2005, accounting for only 10. .91%".

Total wages in 2005 accounted for 63 of the total income residents. .2%, And GDP, 10. .91%, Then the total income of residents of GDP accounted for only 17. .3%. Other countries, the total wage workers accounted for the proportion of GDP (distribution rate) is generally 54% to 65%, such as the distribution rate of 54 Japanese in 1999. .18%, The U.S. rate in 2000 to 58. .31% Rate in 2000 to 53 in Germany. .84%, The UK was in 2000 to 55. .27% [7]. .

The author of the big empty nest on the analysis, the proportion of total wages decreasing GDP is an important reason for family planning enables families to narrow, reducing household survival needs of rigid bottom line. States to acquire, consume too high proportion of financial support for administrative costs, monopolies and capital gets too much profit.

The process of industrialization in other countries, migrant workers are way ticket into the city's urbanization rate is increasing. China now as the family planning cause contraction of domestic consumption in the international financial crisis, the large number of business failures, migrant workers returned to rural areas, which is unique in the international. .

China's wages are too low, resulting in lower purchasing power cannot be insufficient domestic demand, lead to the development of China's service sector has been slow, and the product had to cheap exports. But also because of insufficient domestic purchasing power of ordinary people afford international products, resulting in a trade surplus, the Government had to invest in US Treasuries and the "two-room" bonds. The American financial crisis so that Chinese sweatshops labor for decades to foreign exchange risk.

Yi said: "If China's foreign exchange reserves to buy U.S. Treasury bonds do not, then what in the world than the United States government bonds lower the risk of financial assets? Therefore, I think, on the current turmoil in international financial markets, buying U.S. Treasury bonds may China's foreign exchange reserves to reduce the risk of the best way. China's foreign exchange reserves held by the structure of financial assets should be to increase the proportion of U.S. Treasury bonds. "[8]. .

Yixianrong views despite the opposition of many people, but there is some truth in it. Because the light is from a security point of view of foreign exchange reserves, no more secure than the US Treasury bonds. There is a Chinese banks, more insecurity. Physical capital is diminishing, human capital is increasing. Investments must be subject to the transfer of human resources in order to hedge or value added, otherwise, it is a heap of waste paper. From a long-term point of view, really only the United States have been able to carry out the investment hedge or appreciation of the population structure. Europe and Japan as the population ages, there will be a serious financial crisis, China if investment in Europe and Japan's long-term Treasury bonds, the future is likely to lose.

So really there is no more cost-effective than investments in U.S. Treasury bonds it? Not! Investment in China in their population is more cost-effective than investments in U.S. Treasury bonds. Warring States period, Shang Yang was recognized this. Shang Yang said: "With gold, there will be no food; food with money can have. Food prices as inferior, worthless money, farmers are poor and the rich merchants, if this force on the weak, the country's strength will be reduced until the die . one or two of gold imported to the country, 12 stone of grain will be shipped to countries outside; 12 stone food input to the country, one or two of gold shipped to outside the country.。 "The thought of this view is consistent with the modern theory of human capital: because the food is restricting the demographic and economic factors, the most important crops to feed more people into human capital, human capital is incremented; while gold is a physical capital, it is difficult to value. Therefore it is necessary to pay attention to the accumulation of physical money, investing in people (through food and other in-kind) is the largest investment. Now China many economists has not yet reached the academic realm, Shang Yang also encourage exports in kind in exchange for foreign exchange reserves, foreign exchange reserves is increasing, while the livelihood of the pressure but is also on the rise, people can't afford children, fertility rates from 2. . .2,1. .3 Or so. If the foreign exchange to invest in people, future earnings will be enormous. Aging for the future, the present one or two of each family to have more children than any other investment is more meaningful. .

I few years ago from a population perspective to shift demand economy, 2004 made reproduction helps stimulate ceased, relieving pressure on employment of consumption. But at that time, mainstream economists also believes that reducing population helps to alleviate pressure on employment. Fan Gang this top economists "aging, not full employment". Now analyse such authoritative economists also from export-oriented economy against higher wages. -Chang is the people's Republic of China as a business, not as a society. . If the total wages in China continue as they are now only 10% of GDP is impossible to stimulate domestic demand and employment can only be completely dependent on the international market, and with the international market saturation, China will suffer from high unemployment. China's mainstream economists were not previously aware of this truth is that China's industrial products to meet the international market, rather than to meet domestic demand. .

Development concept decisions view of population. Previous China is export-oriented economy, markets (international market) has nothing to do with the national population, in order to increase the employment rate, on the one hand, the need to rely on low wages improve enterprise competitiveness, by reducing the population on the one hand and the reduction of unemployment. But now found the market is not constant, international market share has reached its limit, economic growth must rely on domestic demand. Development of domestic demand must, on the one hand, to improve the number of consumers (stop family planning and fertility, fertility rates are encouraged to generation replacement level), on the one hand, to increase per capita purchasing power of consumers (raise wages as a proportion of total GDP). . .

The US Government to cope with the financial crisis, often through tax cuts to stimulate consumption, because the vast majority of middle-class tax cut that would benefit from tax relief can be directly converted into purchasing power, allowing enterprises to operate steadily. But because the wage is too low, the effect of tax cuts. Center for the study of the State Council of China: Chinese experts say that 60% of the population earning less than $ 3000 in the income tax threshold effects mainly for middle income families will produce effects, but these families actually marginal consumption rate is relatively low. As a result, improve the tax threshold may be difficult to play the expansion of domestic demand, the role of stimulating consumption [9].

The United States also has some people do not pay taxes, tax cuts can not allow these people to benefit. Therefore, in addition to tax cuts than the United States, but also directly by human hair money to promote consumption. For example in 2008 the U.S. government paid 600 dollars to each adult, paid 300 dollars for each child. A family of five get 2100 U.S. dollars, greatly increasing the purchasing power. .

The Chinese Government likes to pull-by investing in domestic demand. In fact, investments in the near future are pull consumer, economic growth, but the long-term will be supplied to the consumer, if any, will become the bad assets. In other words, now instead of further investment in the future of fixed production and consumption. The Chinese Government is prepared to invest 4 trillion to pass domestic demand. The author believes should be as close as possible to make all proceeds (to raise the overall level of purchasing power) and not allowing only partial benefits (cannot raise the overall level of purchasing power). . Example, half of the 4 trillion yuan to send money directly to all 1.3 billion people made 1,500 yuan per person (or 1,500 yuan purchase vouchers), then on the one hand greatly increased the purchasing power of civil society (poor rural areas will also be able to consumer refrigerator, washing machine , color television sets, toys and other products a) to increase the employment rate of enterprises, on the other hand reduce the differences between rich and poor. .

China in the late 1950s, at the beginning of the economic crisis is productive crises because of insufficient production, material shortages. Now the economic crisis is consumer crisis because of the confusion in financial markets, leading to a disconnection between production and consumption, but does not destroy the production capacity, and no damage to the spending power, as long as the financial market crisis can be straightened out, spend, so this crisis still soft. In the future it may be a third type of crisis: production of crisis and consumer crisis. Europe, Japan, China, on the one hand, after ageing reducing production capacity and innovative ability, on the one hand, but do not dare to consumption, the global economy was going to be hard and hurt.

U.S. financial crisis or a small crisis, like a naughty child accidentally set fire to the house to play. Europe and Japan next crisis caused by aging is a major crisis. The re-aging in China after the crisis triggered by the shock is global. .

Conclusion: If you do not stop planned parenthood, the domestic economy cannot be developed. According to the International Energy Agency's latest forecast, from a global perspective, oil in the next 40 years or so depleted, natural gas will be exhausted in 60 years, the coal industry only 220 years. At the same time, according to the Chinese can be tapped and energy consumption, oil can also be mined for 13 years, natural gas, coal, 40 to 60 years earlier than the depletion of global fossil energy. Energy shortages and energy consumption resulting from the environmental issue has become China's sustainable development as one of the bottlenecks. Wuhui: top ten Chinese financial traitors.


. .


The barge to the pine-Jo: Mondale only come to China to POS at night after the publication of the paper, a voice said, "Mondale is honest, not to humiliate him." This sentence made me. I am very painful, I do this?.


. .


Finally I figured out the situation in the country is too dangerous. I explained to him that you want to come out. I said, no, it doesn't matter. But "no use" can't be the reason I didn't speak up. ..


. .


I have done two years energy Club in Beijing, I'm very clear that industrial civilization is the explosion of fossil energy, fossil energy depletion industrial civilization will crash, mankind will be nowhere to run. Humans need to change the way of life, followed by Americans dedicated resources are vast Sun breaking child. Of the last century, the country's coal consumption only 15 million tons per year, after an average annual rate of 1 million tons to nearly 25 million tons. This annual 10 billion tons of coal, is essentially an American export consumption, 50 million tons of coal into 50 million from exports, for $ 2, 000bn (900 tons of paper), and all Americans control, ready to be cleared. . . .


。.


Americans go with the paper for our resources. The resources are limited. Recoverable reserves of coal in China, only 100 billion tons, four years comes to an end. Four years later, the 30-storey building only to climb, because the elevator can not afford to open, climb up to the house after the black, because no electricity, toilets are smelly, because there is no water. All of the city into ruins. . .


。.


Do not contribute to the Americans, China's industrial civilization can extend life span, can win the transformation of lifestyle changes, the state can avoid destructive chaos and disaster. . .


。.


No hope for new energy sources, nuclear fusion is too slim. Obama engaged in new energy, pure lie. I can only say that these conclusions can not be started. I have seen Hawking, worship Kano, know that "time direction", that the resource constraints of human existence within the limit. Dedication of resources to follow the Americans know, is die without sons in the sale. . .


。.


I do not know God could let me Huoduo Jiu, time enough, I will "time direction," written for the Chinese and American co-reference. Lack of time, then I can return these secrets of God. . .


。.


Because of this, there are some things I have to say that because no one can guarantee that I can live up to when. Now do not say, may never have that opportunity. . .


。.


I most want to say that the Chinese do not do hard-earned American slaves, not to devote resources to the Americans in vain. . .


。.


The central bank continues to buy U.S. Treasury bonds, who also do not matter much, as that is their right. . .


。.


But I have to oppose them, for the national martyrdom, and this is my power. . .


。.


Prior to doing this decision, I have been back to my hometown, by touching the ancestors of the tombstone, intentions communicated with them. From the tombstone, I touched the ancestors of the blood. Martyrdom, may be I can not escape choice. . .


。.


We do not lack land of martyrs. Grandson of the peace negotiations going, and the state of Qin, Qu Yuan persuade hard, do not listen. Results 1 to be held hostage on the state of Qin, die abroad. Qu Yuan, the grandson of smell death, grief, cast Miluo suicide. . .


。.


Qu Yuan, I can now understand why they will vote for Jiang? In addition to Qu Yuan, as well as Wen Tianxiang, as well as Tan and Wen and so countless martyrs! Five thousand years of Chinese civilization, endless, endless, because the veins of peoples from generation to generation descendants of the body in the flow! . .


。.


Grandson of the peace negotiations to go to the state of Qin, it is his right. Empress to betrayal, it is the right of the empress. China's central bank to buy U.S. treasury bonds, that is the right of the central bank. However, Qu Yuan, Tan to martyrdom, I'm going to risk China's financial situation say it, this is my right! . .


。.





。.


"China's financial Ten traitor" was originally written in the September 12, 2007, 17 before Congress. This article has not been published, because I also have no illusions that many people hope that they can find their own problems. But I again and again to wait, only to find countries were kidnapped on the road the Americans bogged down. Today, finally had to say. China's own people with their own people in order to avoid internal fighting, the specific name I have withheld only on the issue, not the person. Hope that the authorities were able to reflect national strategies. China should unite left and right, unanimously, to save the country! . .


。.


Text in italics is added later. . .


。.


. .


First, the fixed rate of $ binding.


Traitor index: ★ ★ ★ ★ ★ ★. .


。.


China's huge trade surplus and the country caused huge loss of resources in the most heinous offenders, the fixed exchange rate U.S. dollar devaluation binding. . .


。.


The exchange rate system is inherited, but the central bank's technical staff, should know the system deficiencies. . .


。.


Since the Bretton Woods monetary system bound dollar, allowing the U.S. dollar depreciation, the dollar reserves of countries that export inflation, that too when the whole world, the Bretton Woods system disintegrated in 1971, therefore, replaced by a floating Jamaica exchange rate system. . .


。.


Acquisition of a fixed exchange rate is like a policy while a floating exchange rate is like a bargain buy. . .


。.


Bargain buy dollars, the demand for dollars depends on the demand for U.S. goods. U.S. not to export, China does not import from the United States, you do not need U.S. dollars. Depreciation of U.S. dollar is no demand automatically, Chinese exporters earned dollars are not worth much, exports unprofitable. Therefore automatically inhibit the surplus, to prevent loss of resources. . .


。.


Import sluggish, if the central bank is not printing money to buy U.S. dollar policy, the dollar gained in the civil, can not be imported, can not eat Can not, will be like paper. If there is no central bank's policy-acquisition, the U.S. printed money by printing money to import goods to China, the plot is in any case can not succeed. . .


。.


Who is leading China's printing press with the acquisition of dollars? . .


。.


This problem must check to check the details of decision-making, to check in the end! . .


。.


Now is not the world dollar reserves, in addition to Brazil, Russia, India and China, the so-called "Bric BRIC." . .


。.


Not so clever tricks, 30 years ago to deceive the world tricks to old tricks, easier said than done! Americans do not spend money to buy, but to succeed, it is a dream. . .


。.


Americans are not only buying a traitor, traitor also bought Pakistan, Russia and India rape and adultery. However, only a few hundred million people, and we are more than 1 trillion! . .


。.


. .


II. export subsidies.


Traitor index: ★ ★ ★. .


。.


Under a huge surplus, but also to subsidize exports, but resource-based exports! . .


。.


This is to help foreigners in China's blood pumping. . .


。.


China's policy-making, is an American concern. Tariffs and export subsidies, the country's most important operation for sustainable development tool, this tool Why fall into the trap of being Americans? . .


。.


Join the WTO, we have many opportunities to safeguard national interests. The loss of national interest, and the Americans certainly associated with the operation. . .


。.


Each export subsidies, tariffs and adjust decision-making insider, whether or not the problem, there is no dereliction of duty, must investigate. . .


。.


Homeland Security door locked if there is no group of people relations with the United States, that is dereliction of duty. Because the stakes are too! . .


。.


. .


3. purchase of US Treasury bonds.


Traitor index: ★ ★ ★ ★ ★. .


。.


Among the many financial problems, this problem came in third. . .


。.


Painstakingly accumulated surplus, fall into American control. White did the equivalent of living, wages and still have to keep the boss, the boss uses. This is the sort of reason? ! . .


。.


China to give the Americans as slaves, no problem, but it should not be so excessively! No wonder Paulson to China often run, showing a high degree of distrust of China. Just think, if I'm the boss, I mean on my employees so I can trust him? . .


。.


Note: in 2007, "subprime mortgage crisis" has not yet surfaced. Proved the past two years, the Chinese buy U.S. Treasury bonds, invited heavy criticism, the more sets of deeper, to be "sub-prime" was "inflation" will eventually lose everything. I am "is dangerous to buy U.S. treasury bonds," has summed up the article. . .


。.


. .


4. the interest rate.


Traitor index: ★ ★ ★. .


。.


"531" stamp duty trap the main foreign hot money, a few days, there are billions of dollars and come in to rescue the market, the capital the door open, such as unhindered. . .


。.


Since that time, the hot money has become scary and so can not wait to start a traitor machine, the central bank to raise interest rates, removed from the stock market to pay the cost of hot money Jiancang. . .


。.


Half of the Chinese currency is issued by the Americans, the United States, where high speed printing press, you do not operate the exchange rate, shut door, but interest rates in honor of hot money, allowed to accelerate the access, which is sort of reason? . .


。.


For a closed bottle of mineral water, we absorb on a hard, can play a role in tightening, but the problem is that this bottle is a gas leak it! You desperately smoke for? The more you smoke, gas instead of the more currency but the more expansive! . .


。.


Said interest rates to curb inflation, it is Who said that? Must be pulled out. . .


。.


. .


5. foreign exchange investment company.


Traitor index: ★ ★ ★ ★. .


。.


Huge foreign exchange reserves because the yuan's depreciation policy, while the accumulated, the reserves and import and export structure, the loss of resources caused by irrational, has formed a major national plunder. . .


。.


This reserve is a creditor, is the only evidence we recovered resources. . .


。.


The establishment of foreign exchange investment company, too provocative, Target, and to facilitate American exploitation. . .


。.


When I heard the foreign exchange investment company first thing to do, is to outsource 100 billion U.S. dollars to U.S. investment company, my first reaction, bad! The introduction of this policy is certainly the Americans alone! . .


。.


Otherwise, no one had the courage to betray such a Zhitong Tong, no masking. . .


。.


Bad idea who is out first? To search! . .


。.


Note: At that time, the company has not set up to vote, "the foreign exchange investment company." . .


。.


. .


6. foreign exchange swaps.


Traitor index: ★ ★. .


。.


Is outside the flight of hot money to prepare. 700 billion U.S. dollars of hot money, when in flight, will be fragmented, chaotic organization of writing. Once the form of financial turmoil, the Chinese government found that the withdrawal of hot money will form a lethal threat. . .


。.


Thus, there is a "foreign exchange swap transactions." . .


。.


This is all too transparent, August 17, 2007 implementation of swap transactions, hot money come in with impunity, 20 stock market crashed 5200 points, washed, retail a large number of follow-up, in 1000 the Americans quietly Jiancang ship, leading to 4 trillion in savings of Chinese residents were buried alive. . .


。.


Who instigated it? To search! . .


。.


. .


7. planning of thermonuclear fusion.


Traitor index: ★ ★ ★ ★ ★. .


。.


Controlled nuclear fusion is simply impossible. 200 000 000 degree heat, something all of the. "In theory take five years," note that is theoretically take five years, that is, within five years, in theory, are not feasible! . .


。.


Fifty years later, God knows what the result will be. . .


。.


Do not think about it, nuclear fusion, if it was easy, so much cheaper also come to you? . .


。.


National People's Congress passed this thing, first being money making, and the second is more important is the strategic deception. . .


。.


I heard the news, five seconds, he thought of Americans. Americans are doing is a good thing! Group of people can not escape my nose. . .


。.


I asked the most authoritative source of energy experts do not know it. . .


。.


Who is the initiator of this matter? To search! . .


。.


Paulson to China, first of all to Qinghai, see energy, people mind very clearly. On China's policy makers kept in the dark. . .


。.


Note: Later, when I saw Chinese President Hu Jintao to visit the "hot fusion laboratory", my heart was broken. This Huabing, misleading the whole country strategy! . .


。.


. .


8. capital account convertibility.


Traitor index: ★ ★ ★ ★. .


。.


A central bank's high officials, said, "capital account convertibility is the established policy." See the news two hours later, I gave him a letter, I said, "capital account convertibility is an established policy, do not know who established? China Financial were you so to play, do not think Chinese people are do not know, one day it away. " . .


。.


Current freely convertible, live within our means, basically to control financial risk. Open capital account, which means people can be based on their strategies, free investment and free to divestment, which means that the printing press in front of foreigners, China's national sovereignty will be fully lost, if China has the resources, they can in China issuing currency, plunder of resources in China, while China's resources are exhausted, if they can immediately take away the money to maintain its currency credit! . .


。.


This is entirely for foreigners work! Everything to the foreigners, the national resources being trampled upon, that more than one billion Chinese people, children and grandchildren how to survive? ! . .


。.


Note: free access to hot money, driving up the stock market and housing market, how many people's hard-earned money into the pockets of Americans! . .


。.


. .


9. national brand is foreign acquisitions.


Traitor index: ★ ★ ★ ★ ★. .


。.


An American poodle, public clamor, "not globalization, there is no economic security." Even publicly accused Wahaha, said, "Zong can not abide by the spirit of contract, against the logic of globalization with the lakes." . .


。.


Wahaha is a business selling water, to reclaim resources for the country. How allows foreigners succeed so easily? Wahaha had even signed a number of negative terms, we can not bend his arm out ah! If you want to blindly abide by the spirit of contract, then the establishment of New China, Chairman Mao, the Qing government to sign the abolition of the unequal treaties, it is "not abide by the spirit of contract"? . .


。.


China's national brands, are foreigners annexation, means that foreigners only need look at the printing press turn, you can let the Chinese people slaves for generations to provide them with free lunch! . .


。.


Each time the annexation of foreign brands in China should file for investigation! . .


。.


Foreign acquisitions of Chinese brands, the money printing press, if a foreign printed, and is extremely unfair trading. Bank of China issued a merger rules open the door for foreign aggression against China, this is critical, be sure to check! ! . .


。.


. .


10. intellectual property rights.


Traitor index: ★ ★ ★ ★. .


。.


Americans are not qualified to talk about intellectual property rights in China. Past three decades, the world's largest intellectual property, is Yuan Longping's hybrid rice, but Americans pay for it? Americans how to treat intellectual property? This is not a ready-made materials it? Yuan Longping to the rice they eat is our possessor of the people, what right in front of us talk about intellectual property? . .


。.


On knowledge, no kind of knowledge can go beyond traditional Chinese medicine theory; no one can surpass the wisdom of Sun Tzu; not an invention beyond the hybrid rice; no one country can be higher than the Confucian philosophy. For this reason, the Chinese became the world's vitality was the most powerful nation. . .


。.


We should not sell ourselves short. We should respect our traditions, adhering to its own unique culture, lifestyle and philosophy of existence, with little resource consumption, to maintain the people's survival, well-being and sustainable development. . .


。.


Now follow the bottom of Americans engage in wholesale Westernization, wasted resources and dedication to the Americans, we thought must be right. Only until the day that resources are exhausted, we will find fooled. But that will be too late, economic collapse, banditry, political paralysis and social unrest, killing more than, the population dropped, as the dead Jiugen dead chickens. . .


。.


Total Westernization, is a slavery of the road to ruin! . .


。.


After the mid Ming Dynasty Chinese silk and porcelain are exported overseas, to the mid-Qing Dynasty about half of the world have been earned silver in China. At that time, the basic need of China to buy goods from overseas, so a lot of input only in the domestic circulation of silver, equivalent to greatly increase the domestic money supply, which was the size of foreign exchange reserves and the present cf corresponding number of the renminbi issue is a domestic launch effect. But before the Opium War in China's prices have remained stable for many years, The reason is digested more land to increase the commodity currencies. Enter through the silver, was a large number of foreign trade for the purchase of land, land prices pushed higher, which in turn encouraged people to cultivate more land.。.


In early 2008 spring, Professor Lang Management in Beijing Century Masters Lecture Hall lectures, with his "dual economy" view and "6 +1" pattern of distinction between industries, the Chinese economy at that time and expressed deep concern about the world economy Such fears are duly fulfilled soon. By the end of 2008, Professor Lang once again to teach in Beijing, but also throws a new perspective: the world economy has entered a "business chain" era. .


From the financial crisis, the Government's role is very important. Why the US Government should devote $? I would like to propose a new way of thinking, to explain the behavior of the Government of the United States. That is, not "marketable" era, the world economy is in a "chain" of a new business era. What is "business chain?" is when a sector, if you're not going to help this sector will produce more than one link in a chain reaction, while impact to other departments, resulting in the collapse of the economy as a whole.


Business industry is characterized by the chain of the times "6 +1." .


"Business chain" era of competition, is a field in the Battel. China's manufacturing industry is not resistant to compression, it is because of the "6 + 1" industrial pattern, we have no way to lift prices. Because real control over pricing power, must be the "6", this chain of "1" is not the right to control the pricing.


Enterprises in China have not thought about to enter "6" of? Some, like Haier. Although I have been criticized Haier, but some of the points I am still relatively Zhang recognized. He had wanted to buy American, the United States and Thailand company, the United States and Thailand is the "6 +1" in the "6." How can Americans allow you to "6" The acquisition of the past? If you put his "6" acquired, how to create value for themselves? This is unthinkable. Therefore, the end result, Haier's acquisition failure. .


The u.s. economy powerful one important reason is that he holds global industrial chain most valuable sections. Today, if we have entered into an industry chain war era, suddenly found that past many ideas today should be overturned. For example, we should also play the brand strategy?, for instance, we should also make technical upgrade? because we suddenly found that changes in the industrial chain, we are talking about before is wrong.


Brand strategy is the "6 +1" After the success of the inevitable result, not the reason for the development of enterprises. I can do such a conclusion, if Chinese companies now want to use cheap labor to play brand strategy and take technology to upgrade the road, bound to fail. Because, This is not to our advantage. .


There are two companies don't take my advice, take advantage of cheap labour to create a brand new technology upgrade, a home is a TCL is Acer. TCL acquires Akat and Thomson, Acer acquired Siemens ' mobile phone business, are produced in China. China's production costs low enough, Akat, Thomson and Siemens brand is excellent, but the result? a few years later, the two companies ' joint ventures fall fall. Why first of all, China has the advantage of not cheap labor; second, the brand strategy is not important, it is only a result; third, technology upgrade is not important.


At present, the traditional manufacturing industries, traditional industries still survive, but now we do not know where to go. Today's world has come to a chain War era. A look into China's multinationals, which one is not a "6" or "6 +1" business? Guangdong, Zhejiang, many companies in the development of difficulties encountered after they moved to the west, or move to Vietnam, the final result was close. Why? Because the labor cost is not important, the most important industrial chain. .


I believe that our future goal is to grasp the whole industry chain, this is the way that we should take. Take this road hard? is not difficult, our entrepreneurs are wisdom of our past too many misleading. For example, "in the market for technology," the whole nonsense, to return the last technologies, the market is also lost. What should we do? should by product, promote "6 + 1," consolidation of the industry chain.


I say, not to each firm engage in a logistics center. Enterprises must take the product as a unit, such as cups, cup to cup as a unit to promote the "6 +1" integration; or textile, or sports shoes as a unit to promote the "6 +1" integration. Only after doing the integration, enterprises can have more leeway to cope with economic crisis. .


High efficiency of the industrial chain, you need to process reengineering.


Recently I went to Jinjiang speech, their leadership, we have 58% of businesses are now very difficult. Having difficulties of enterprises, he explained that those brand enterprises are still good. I had to tell their leaders: the export manufacturing sector in Jinjiang you face great crises, but also in Jinjiang your turn. He asked me what it means? I told him, in Jinjiang, well the business is essentially control the entire industry chain enterprises, these enterprises because they have "6 +1" "6", while the maximum profit. .


He asked me, Jinjiang, these have mastered "6 + 1," the industrial chain of the company, we will be able to survive the financial crisis, I say to him, I do not know. In normal circumstances there is a problem with a small depression without problems, but on the last great depression, no one has the experience, including me.


Has mastered the "6 +1" industry chain enterprises, should be a process control expert. Garment enterprises in Guangdong Province, for example, from product design to finish the "6 +1" the entire process requires 180 days. The highest efficiency over the world, go the fastest company, is Spain's ZARA, they control this process is 12 days. The efficiency of this company is amazing. This industry chain, to create high profits. A garment, if it is to do our business in Guangdong, to be sold after 180 days, 180 days of storage costs should be. If it is 12 days to sell it? The same piece of clothing, reducing the 168 days of storage fees. .


At present, the world's best companies did slash the industrial chain, compression is as short as possible, this is called "6 + 1" efficient consolidation. Compression process, lower total cost of the product, on the other hand, the gross margin was significantly improved. High-efficiency industrial chain is a complete system, all you need to build a Samsung, Sony, such a great company, you must set up a rapid response process.


Why not three decades China's manufacturing industry to create such a system? The answer is simple, only the most important rules of the country, possible to set up the system. In Asia, only two countries attach importance to the rule, one is Japanese, one Korean. Chinese people pay attention to not pay attention to the rules? Do not pay attention. We pay attention to what? Hidden rules. A focus on the unspoken rules of the country, is not the process. .


Three years ago, I went to Shanghai diesel engine co., lectures, talks of "how to manufacture engine". I am a Professor of finance, talk to them about how to make the engine. I went to the factory, they do not have systems, only the workshop. Therefore, they spent 120 million to hire a General Motors to retire the old engineer to the Director of the company. He went after the first sentence is: "How can this company only workshop, there is no system?" for occupationally. Most of the manufacturing enterprise in China only workshop no system.


Industrial chain in the "screw." .


Samsung, Sony, this enterprise has its own small system. This little system mean? use the simplest words can. For example, your company has climbed ", looking for talent recruitment advertising?" is the Chinese enterprises patent. You to take a look at the American Enterprise, they recruit? they recruit "screws".


Only the most talent in China, "talent" is the word patent. I wonder if you believe it or not, can not find us in English, Chinese believe that people, because Americans do not recruit talent. You know why? In a manufacturing country, only the shop but no systematic manufacturing country, he could only find talent. If you give up the shop soon, after establishing the system, you do not need talent, and that simple. .


Enterprise accomplished "6 + 1" of the industry chain integration, you do not need to recruit talent, and you need to recruit, 20 screws. 20 screws, each screw according to Chinese chefs FRY "shredded" requirements to cut sliced pork chopped green onion, cut, each screw into the process. You will find that the company won't emphasize innovation because a creative nation will emphasize innovation. A creative nation, they understand the creation must be derived from the accumulation, but couldn't. A company, it is not possible to become a high-tech companies, because your technology cannot be accumulated.


One student told me that the first generation of BYD's battery is the battery, a professor of Tsinghua University has developed a third-generation battery. He believes that if he used the third generation of BYD Battery replace the first generation of batteries, his business would be the best company. In fact, he is wrong. Tsinghua University professor you this brought the third generation of battery, after two years out of date. Why? Because he has never been done on the third-generation battery "fish-flavored pork" type of process decomposition, simple as that. A so-called "innovation" created the battery, meaning there is no competition because you can not break down into the process. .


What is science? scientific basis is not a basis for innovation, science is a process of accumulation, which is really the Foundation. Do you know what country would call innovation? a never establish a system of States would call innovation. Innovation must be conventional efforts to improve gradually accumulate to innovation.


Large enterprises survive in the system. .


You don't want strange, after China 2008 is very difficult to have a modern high-tech enterprises, there would be no modern sense of the transnational enterprises. Some people may say, Huawei has Foxconn?? well, let me tell you, Huawei has stringent small systems and rigorous systems. Huawei is a small system of his own invention, Huawei's large systems is that it spent $ 200 million, created by IBM. It's a big system level? 3. .7 points; IBM level? is 5 minutes.


Foxconn has been able to become the world's largest factory, because of its financial strength it? Their boss's right franchise? Not at all. Foxconn has the most stringent of small systems, as well as "3 +1" large-scale system. It does not "6 +1", but "3 +1." It is through this "3 +1" system, established a unique worldwide scale production. Its size increases than the second and third combined. .


In the financial crisis, enterprises of very clear: "6 + 1" efficient consolidation, this is the only way out. In the short term, in order to survive; in the longer term, a large system, should be our next decade goal.


In China, Haier, Lenovo, Founder, Huawei, in the collection, TCL, Midea, Konka, Hisense these companies, after the impact, the problems will emerge slowly. I think that after six months can Kangde Zhu, and sorting should be Huawei, the set, Founder and so on. I do not do business line, is to look at their systems. I am very worried that many companies in China in 2009 can Kangde Zhu, Gree air-conditioning has gone wrong, this is the status of the manufacturing sector. Manufacturing industry is facing difficulties in the top ten today, you will find that established the system of Gong Si, would be hit relatively small, but Neng Bu Neng get every penny back, I am not sure, Zhu Yao Kan Wai Bu Shock You How. .


Some say that manufacturing is not good, I'll do the transformation. So, I have to ask, there is no manufacturing you service? if not manufacturing, you express company sent? air delivery is not possible, send a friendship is not possible, you can only send the cups, the microphone. There are many places that you want to give up to do the manufacturing and service industries, this idea is definitely wrong. Manufacturing industry is the future of China, China's manufacturing industry overall collapse, we will pay a heavy price. Moreover, following the crisis in manufacturing to banking crisis will worsen.


British "Financial Times" has an article, said the financial crisis the U.S. is slight, the EU is seriously injured, China is the internal injuries. In accordance with the current situation, Europe is slightly injured, the United States is seriously injured, China is likely to be internal injuries. Currently, the U.S. situation continues to deteriorate, the European good point, because the impact of financial crisis on Europe is not, and their bailout plan is better. .


China's manufacturing industry situation is dangerous, because our manufacturing industry has been "6 + 1" of the front end, the most vulnerable to shocks. In 2009, the living environment of China's manufacturing industry will deteriorate further, I believe that the Government will have some positive policy responses, but I hope that these policies must be quick, if policy introduced too slowly, causing the rapid collapse of manufacturing, processing it is very difficult. But whether it will happen, I don't dare to think.


Innovation does not mean tossing, for innovative and discard the old so-called innovation is the torment. Whether manufacturing or other industries, with the appropriate processes should be properly implemented, innovative Santianliangtou meaningless. Song Hongbing: the second wave of financial tsunami is likely to advance. .


Time: 2009-01-05: 06: 32-in.


"Second wave of financial tsunami is likely to advance, earlier than expected before the spring and summer. Now the market has begun to show: Citigroup shares fell 25% in one day, there are Bank of America, HSBC, Deutsche Bank, Europe and the United States Bank system, a large amount of the shortage occurred. "successfully predicted the subprime mortgage crisis in 2007, 2008, the first wave of financial tsunami, Hongyuan Securities structured finance general manager, Song Hongbing still not lay down the burden of heart. January 16, he told the "Daily Economic News" interview to reiterate his point of view. .


The root cause is still one of the derivatives on the Dow Jones index "will now drop a day 200 points also is not a big problem, but if an index record dropped by more than 400 points need to be careful that I don't think that's a new round of the basic symptoms of the crisis. "Hong-bing said, the recent European and American stock market crash in back-to-back, or foreign banks sell China stocks, dollar index, oil prices, it is a fundamental point--American financial institutions extreme lack of funds.


Financial institutions, the root causes of lack of funds or derivatives. As the subprime mortgage crisis, deleveraging by financial institutions rush, which led to a large number of breach of contract. Song Hongbing that, first of all, the U.S. government can not afford to provide so much, such a large funding gap of financial institutions; Second, U.S. corporate junk bonds business amount to 20 trillion dollars, far more than 12 trillion size of housing loans. .


"The u.s. Government if you want to inject, first of all to resolve an issue where the money is. Those who believe that the US Government will not restrict printing banknotes, which will always be able to undertake the point of view is clearly wrong. Government funds to solve the shortage of funds, in and of itself is a mutually contradictory things. "Hong-bing said that the US Government itself has no savings, it was not able to provide the national wealth and rescue financial institutions, you can only release a huge amount of Treasury bonds, bonds issued by corporations to come to purchase required. At present, the United States financial institutions themselves lack of funds, in addition to China and Japan, other countries are holdings of US Treasuries.


"At present, China's U.S. Treasury holdings of more than 6000 billion dollars, the number of already very large. Next the United States out of bailout funds may be 2 trillion to 3 trillion dollars, that time who has the ability to buy it? States Are not emotions rebound, and then intensified dollar selling it? "said Song Hongbing, the U.S. dollar crisis is the final performance of the current round of crisis, the U.S. government will eventually fall into a dilemma - to resolve outstanding loans or debt default, or a sudden outbreak of hyperinflation. .


China's economy will be affected by the impact.


Said Song Hongbing, the U.S. corporate bonds in the "subprime" about the amount of one trillion U.S. dollars. But according to his experience in statistics, to escape the financial derivatives industry, institutions, markets and sell related products, resulting in product downgrading, then the current "junk debt" number should more than one trillion U.S. dollars a lot. .


The next part of the bond defaults will rapidly expanded, will result in a large number of commercial insolvency, thus undermining the stability of the entire financial system. At present, Europe and the United States have begun to prevent commercial crisis led to run things, but because of the overall losses, the second wave of financial tsunami than on the subprime mortgage crisis big 3 times.


"We have seen the U.S. dollar index rose, the fundamental reason is You Yu Ji Tong International Monetary and bulk transactions pegged to the dollar itself and the market worried about the outbreak of throwing goods Wei Ji, instead of wealth in exchange for U.S. dollars to maintain the number of dollar scarcity caused by the dollar index significantly up. "Song Hongbing stressed that behind the U.S. dollar index rose crisis intensified, as it is more accurate derivatives market crisis worsened. .


Financial crisis will come to China's economic impact. Song Hong-Bing says that because pegged, China to maintain stable exchange rate, currency is the US Federal Reserve's monetary policy to contain.


"China is still buying U.S. Treasury bonds, if the United States problems for China's overall economic structure will have far-reaching effects. However, as the U.S. national debt is to flow, so we can activate the hands of the U.S. national debt to, say, other financial institutions from our hands Jie the U.S. dollar, and we want their precious metals, mining, technology and patents as collateral, preserve their own wealth. ". .


Song Hong-bing said that the financial tsunami waves can be predicted that the market has not left to chance, the Chinese stock market money associated with the American market is very large, the next stage of development still need to be cautious.


The force of habit: 35 years ago to form good habits. .


You want to succeed? that's early training in favour of the good habit of success.


Habit strength is amazing, 35-year-old former habit determine your success. .


There is such a Fable:.


There is no heir after the death of a rich legacy of his large gift to a distant relatives, the relatives is a perennial beggar living by begging. This is the heritage of a beggar who received immediate worth a change, become millionaires. Journalists have to interview the lucky beggar: "You inherited the estate, you want to do the first thing is that?" Beggar replied: "I had to buy a little bowl and a sturdy wooden sticks, After this I went begging when convenient. ". .


Visible, habits on we have the greatest impact, because it is consistent, unknowingly, age affect our behavior that affects our efficiency, about our success.


The behavior of one day, only about 5% are non-habit, while the remaining 95% are habitual behavior. Even breaking innovation, eventually evolved into a habit of innovation. .


According to the behavior of the psychology of results: 3 weeks or more duplicate forms habits; 3 months or more duplicate form stable habit, that is, the same actions, repeating 3 week becomes habitual actions, of habits.


Aristotle said: "The human behavior is always repeated. Therefore, the superior is not a single act, but a habit." "Human behavior is always repeated. Therefore, the superior is not a single act, but a habit. "So, in the process of achieving success, in addition to constantly stimulate their desire to succeed, have confidence, enthusiasm, a will, there is willpower, in addition, also be used to catch the express train Zheyi success, achieve their goals . .


There are two biologists did an experiment: he will be a flea in a large number of experiments in the Cup, a piece of transparent glass. Flea habits, so love to jump many fleas have hit cover of glass, continually FA long stuff sounds. After a while, biologists will glass away, jumping flea remained in all, just have to jump height close glass lasts, to avoid collision with the header. The result is not even a flea can jump out--depending on their abilities not jump, they have adapted to the environment.


Later, a zoologist who decentralization in measuring cup and a kerosene lamp lit the fire. Less than five minutes, cup Heat, all natural play instinct for fleas, each flea can no longer hit regardless of whether head pain (because they think there is glass), all out of cup outside. This experiment proved that fleas will be to adapt to the environment, unwilling to change habits, preferring to reduce to close the potential to adapt. .


I think humans are to the environment. Human adaptation to the outside environment, and create the appropriate environment and habits of yourself in your environment. Therefore, the habit of deciding the size of the room and also determines your success or failure. Good for your success is important.


Master of psychology William James said: "sow an action, reap a habit; sow a habit, reap a character; sow a character, reap a destiny.". .


35-year-old former success necessary 9 habits.


Good habits lead to unexpected success. I think that the following nine essential good habit is successful:. .


(1) the good habit of positive thinking.


One scholar to Beijing exam the third time, living in a regular live store. Two days before the exam he did three dreams: the first is the dream of their own dreams on the wall kind of cabbage, and the second dream is a rainy day, he wore the hats also Dazhao San, the third dream is the dream with love cousin naked, lying together, but Beikaozhebei. Lin Kao occasion to do this dream, it seems that some profound meaning, the scholar's dream the next day to find fortune. Telling of a, continuous thigh, said: "You still go home.。 Shop boss very strange, says: "not tomorrow before the exam? what is headed home today?"--and so has the music: "well, I will explain it. I think that you can test this time. Do you think a wall is not a vegetable? high hats really is not a double insurance? with your cousin had back-to-back get naked in bed, not when you stand up? "--and more reasonable, and spirits to participate in the examination, actually a tanhua in..


Can be seen, the thing itself does not affect people, people only by their own view of things, must change the passive habits of mind and develop positive habits of mind. .


What does get into the habit of positive thinking habits? "when you are in the process of achieving goals in the face of specific jobs and tasks, your brain to get rid of the" impossible "to" How can I ", you can say you have formed the habit of positive thinking habits.


(2) the effective work of the good habits. .


A strong desire to succeed, it would be detrimental to the success of habit, but blends into the banal tear of daily life. So, thoughts, behaviours, habits, personality, character and habits decide fate. If you want to succeed, it is necessary to develop effective work habits.


Make sure you have the efficiency of the work habits are positive for success, I think we can use this yardstick to test: that the prosecution province of their jobs, whether you are a worry of unfinished business, that is anxious Gan. If you should do not do, or do not yet finished, and often feel anxious for this, then prove that you need to change work habits, to find and develop an efficient work habits. .


Efficient work from the start: the Office.


1) Know your energetic day period. Usually people work in the morning around 9 the highest efficiency, you can put the most difficult time to complete the work. .


2) daily concentration of one or two hours to do the work of the emergency do not answer the phone, does not meet, not subject to interruptions. This way you can do more with less.


3) immediately restore important e-mail, will be important to discard. If any of them accumulated piles, but more time-consuming. .


4) to be a task list, all items and conventions in the efficiency of the manual. Do be sure to bring efficiency manuals to help me plan. One day's behavior, only about 5% are non-habitual, but the remaining 95% is customary.


5) learn to efficient use of fragmented time, to read something, or the idea of a file, not trance or daydreaming. .


6) to reduce the time to call back. If you need to pass only one information, may wish to send a SMS.


7) a call may be aware, so that you receive the expected phone call can quickly find the required materials, do not rummage chaos was looking for. .


8) learning the skills of efficient searching on the Internet to save the Internet. Put your Web site often to browse to locate the collected.


9) Use the Internet simplify business travel arrangements. Most hotels and flights to online inquiries and reservations. .


10) whenever circumstances allow it can delegate someone to share the work. Hands-on yourself tired, but never finished. May wish to invite a colleague or Assistant harder inputs.


11) to do a flexible schedule, when you need it can be busy in the loaf. For example, in overtime at noon, and then leave the office an hour early to the gym, or work 10 hours a day, then went to an appointment on Friday to see a doctor. .


12) before you leave the Office listed on the following list of work, so the next morning, you can go to.


Scheme used, it means success. .


We plan a man named John · Goddard Americans, when he was 15 years old, his own life to do column a list called "life list". In the sort order list, he has to overcome the specific objectives of 127. For example, the exploration of the Nile, climb the Himalayas, the reading of Shakespeare's works, writing a book, etc. In 44 years later, his superhuman willpower and extraordinary courage, and fate of hard struggle, finally as planned, step-by-step implementation of 106 goals to become one of the accomplishments of the film producer, writer and orator.


Chinese saying goes: "Eat not poor, not poor drink, do not plan to be poor." As far as possible in accordance with their goals, planned work, this can increase the efficiency and fast goals. .


(3) to get into the habit of exercise good habits.


Increased health awareness. .


Plan is used to program success. If you want to build a career, you must have a healthy body; if you want to be healthy, it is first necessary to have a health awareness.


I know a university teacher, the body has been very healthy. Earlier, we often play together. Turning to the physical condition of each, he said, occasionally a slight kidney discomfort. We urged him to the hospital to check, but count on good health and did not mind. Until then feel more pain, the love of talent forced him to check. The result is advanced kidney cancer diagnosis. Despite surgical treatment measures such as chemotherapy, but was unable to save life and death only 39 years old. Earlier, His license school housing allocation, and commentary Title unhappy, depressed mood has been, his illness and the emotions, but if his health conscious, as soon as possible to check, is fully able to prevent, eliminate suffering in canines.。.


How to implement the health-care sense? One is to have life-first, health first awareness that with this awareness, you will care of your body, your mental, not arbitrary ravaging his body. Second, we must be careful to take some relevant knowledge. Third is to make to have a response mechanism on the body: on a regular basis to the hospital for physical examination; body feel uncomfortable, they should try to go to hospital for an examination; in the case of conditions, may request a health doctor, to make their own health advice. .


?? systematic exercise.


The importance of physical exercise has been increasingly seen as acceptable, but I feel a lot of people just stop at the important stages of consciousness, lack of appropriate action. I think that the exercise should not only work for a particular position can lead to disease destinations corresponding to the appropriate disease prevention and treatment, but should exercise as a fun, develop exercise habits. .


Because of the work, I often dealing with customers and handling unexpected things anywhere, we played the role of physical activity, while at the same time, I also insist on swimming in a week or twice to ensure there is enough energy to work, enjoy life.


Physical exercise, the same as to strive for success, perseverance. .


In addition to the above two points to the structure, watch your diet, diet, and note the habit for good health habits, etc., are all part of healthy habits.


In short, the health "revolution" of the capital, is a guarantee of success. Health achievements of their own. .


(4) the good habit of constantly learning.


"All things are beneath contempt, except the scholars" era is over, but cultivate the good habit of reading is never out of date. .


Harry s. Truman · u.s. presidential history. He did not read the University farm, and later a drapery stores, experienced many failures, when he finally Government, over five years. But he has a good habit is to keep reading. Years of reading that is very profound knowledge of the Harry s. Truman. He has a volume of a volume with the United Kingdom of Great Britain and all encyclopedia · Charles Dickens and Victor Hugo's novel ·. In addition, he also read all of William Shakespeare's plays · and sonnets, etc..


Truman's extensive reading and the resultant wealth of knowledge, to enable him to lead the United States survive the end of World War II period, and to quickly enter the post-war prosperity of the country. He knows how to study to become a top leader of the foundation. Study also made him in the face of controversial, difficult problems, able to make the right decision. For example, in the 20th century, he withstood the pressure of the 50's people respected war hero, General Douglas MacArthur dismissed. .


His credo is: "not all scholars are one of the leaders, but every leader must be a student. " 。.


Former U.S. President Bill Clinton said: In the 19th century was a small piece of land, is started in the capital; the 21st century, the people most expect to receive the gift, is no longer the land, while the federal government scholarships. Because they know that mastery of knowledge is an open master keys to the future. . ".


Every winner is a good reading habits. World top 500 enterprises CEO at least every week to read around 30 books and magazine or news, you can read in a month and more than 100 magazines a year through more than 1000 this.


The world's 500 largest enterprises of the CEO at least a week to read about 30 magazines or books of information, one month can be read more than 100 magazines, more than a year to read 1000. If you read 15 minutes a day, you're likely to read a book within a month. Year, at least you read 12 books, and 10 years later, you will read a total of 120 books! Think about it, just a day out of 15 minutes, you can easily read 120 books, which can help you in all aspects of life become more wealthy.。.


I feel like every one before the age of 35 were successful, at least a month to read a book, two magazines. .


(5) modest good habits.


There is no reason a person is not humble. Compared in terms of human knowledge, Renhe Bo scholars can only fail. .


Famous scientist Michael Faraday's life preparedness awarded him the title, in recognition of his physical and chemical aspects of outstanding contributions, but he refused. Faraday retired, still go to the laboratory doing some chores. One day, a young man to laboratory experiment. He is currently sweeping the floor of the Faraday said: "do the job, they give you a lot of money?" the old man smiled and said: "a little more, I need it. "What's your name? old man?" · "Michael Faraday. "The old man replied lightly. Young people cry up: "Oh, dear you are the great Michael Faraday's Sir!" and "no" to the Faraday to correct said, "I was a mediocre Faraday. . .


Modesty is a virtue, is a way of life, wisdom, and is a means to belittle ourselves to protect your own plot.


(6) made a good habit. .


Any one of the winners has a remarkable restraint.


Three Kingdoms period, Zhuge Liang Shu Prime Minister personally led the army of the Northern Expedition of Shu Wei, Sima Yi Wei generals close to the city of truce, to ignore the attitude of dealing with Zhuge Liang. In his view, Shu Army all the way incoming, lack of backup supply will, as long as the delay time, the power consumption of the Shu Army, will certainly seize the opportunity to defeat the enemy. .


Zhuge Liang is aware of the pros and cons of Sima Yi silent tactical, several soldiers, defied attempts to provoke Wei, luring Sima Yi battle out of the city, but always wait the Sima Yi. Zhuge Liang and dared to send people to Sima Yi sent a woman clothes, and a letter saying: xiushu "zhongda dare not, what with two women. If you are a shame for the ball, they went out and Shu army at war, if not, you will put on this woman's clothes. "The scholar can kill an insult. "This letter is an insult to despise, although angered Sima Yi, but did not make the wily Sima Yi changed his mind, his anger upon keeping the morale, be patient.


Stalemate for months, Zhuge Liang died of disease Army, Shu Army rudderless, quiet retreat, Sima Yi is not to win. .


Bear the emotional, wounding and harm if Sima Yi cannot endure the heat of emotion, out of the city, then perhaps history will override.


Modern society, more and more people are faced with the temptation, if people lack self-control, then the temptation will be led by the nose, deviated from the track of success. .


(7) the good habit of humor.


It is said that men need humor, like a woman needs is as important as a pretty face. .


Man needs humor, like a woman needs a pretty face. The 16th President of the United States Abraham Lincoln looks ugly, but he never taboo in this connection, on the contrary, he often took their own humorous look like a joke. In the running for President, his opponent against him are tricks and intrigue. Lincoln listened to his face and said: "for the public to judge. If I still have another face, I'll use this one? "on another occasion, the members of an opposition to the Lincoln walked to the front of the Lincoln bitterly says:" I heard the President you is a successful designer self? "Yes, Sir. . .


There is no humor in man is not necessarily bad, but understand the humor of man must be a good person, and understand the humor of the woman is the rare animals.


(8) smile for good practice. .


A smile is generous, quiet performance, but also contacts pass.


The world-renowned Hilton Hotel, the founder of the Hilton in the business at the beginning, after many years of research and found a simple, easy, do not spend the capital of the business secret - a smile. Since then, he asked all staff: the hotel itself, regardless of the difficulties encountered, the Hilton Hotel attendant smiling sun will always belong to the customer. This beam "Sunshine" eventually won the world Hilton acclaim. .


In Europe and developed countries, people meet to nod and smile, make people feel warm to each other. But in China, if you're in the street to a lady smile, then you might be described as "sick". To Westerners learn, let us express our mutual smile.


From ancient times, is dedicated to all successful people one of the most important quality. .


(9), professional, and enjoy good habits.


Dedicated people who want to succeed is to treat the basic requirements, a dedicated hard for people not engaged in his work to make achievements. .


American standard oil had a call of Achilles Bo started small staff did not arouse people's special attention. His professionalism, attention to especially strong maintenance and dissemination of corporate reputation. In the long journey to live the hotel never forget in my signature below the "four dollars per barrel by the standard oil", in a letter to friends and family, even when playing receipt is no exception, do not forget to sign the total writes the words. To this end, the colleagues told him to "four dollars per barrel. It is the company's Board Chairman Rockefeller knows, he invited the za-Bo-dinner, and called on the company staff to learn from him. Subsequently, za-Bo-become the standard oil company of the second term, Chairman of the Board of Directors.


Success before the age of 35 must get rid of the 9 major vices. .


Bad habits are unable to do so successfully.


And to establish good habits accordingly, is to overcome bad habits. Locked in, not get rid of bad habits, good habits are difficult to set up. .


The Buddha in ancient Greece a few Asian King GE first scholar in a very strange way, the chariot yoke hit a bunch of knot. He predicted: who can open the knot, you will be able to conquer Asia. Until the year 334 b.c. can also be fitted with an open. At this time. Alexander's army invaded Asia minor, he came to GE's knot, the section will draw his sword to cut off it. Later, he was occupied in one fell swoop rather than Greece 50 times the Persian Empire.


Mowing a child in the mountains, was accidentally bitten by a poisonous snake feet. Child pain, and hospitals in the distant town. Children did not hesitate to cut off the injured toe with a sickle, and then endured the throes of struggling to come to the hospital. Despite the lack of a toe, but this child to short-term pain saved their lives. .


Bad habits, you should have the mettle of Alexandria, it should be the child of decisive and courageous, thoroughly bad habits for good habit to lead their own success.


Following the 9 major vice is you have to get rid of the:. .


1) recurrent late. You go to work or meeting often late? late is the boss and colleagues resentful of seed, it conveys the message: you are a self, lack of cooperation in the spirit of the people.


2) delay. Although you eventually completed, but drag makes you look incompetent. Why would delay it? If it is because of the lack of interest, you should consider your career; If it is because over the pursuit of perfection, which no doubt will increase the delay in your work. Social Psychology experts say: Many people are afraid to love delays and error risk, the fear of failure so that they no start. .


3) complaining. This is almost a loser mutual label. One wants to succeed in frustration, you should treat yourself calmly, analysis of the reason for the failure to find a breakthrough.


4) blindly to please. A truly competent staff should work on their own memory in a note to the parent and the corresponding solutions rather than just go along with higher-level decision. For managers, there should be strict way of rewards and punishments should not be "nice", please do so despite being a minority, they will lose support of the majority. .


Dissemination of the gossip 5). Everyone may be others comments, go to the comments of others, but if you were a person, this argument it is best to stop. There is no blank wall this spread rumors, sooner or later will be party to know, why go to carry drops?, gossip from the wise.


6), demanding perfection of others, harsh. Everyone at work there may be errors. When the work problems, should help to solve, rather than blindly demanding perfection. In particular, can not do in their situation, so that their subordinates or others to meet these requirements, it is easier to engender resentment. Over time, such people have no credibility in terms of the company. .


7). Have been identified, but they often do, it will allow your subordinates or help them start. The commitments made by you, if you are unable to fulfill, before you lose credibility. Such a person, narrow-minded.


8) pride. It does not appear you skilled are one, on the contrary lead to resentment of others. Because no one will tolerate others look down upon themselves. Insolent people find it difficult handed friend. Is a network of financial connections to young people who develop this habit, I believe you are unlikely to succeed. .


9) follow the crowd. People can follow the crowd, but not to last. If you follow the crowd, then you are likely to form of thinking, not their own, or even so, she did not dare to express their own ideas, but not of his own will not be successful. (World).


Ten reasons not to make a fortune. .


1, do not understand the definition of wealth; not understand successful mirror pattern.


Khan, really do not know what is meant by wealth. Then sheepishly asked loudly: Shajiao mirror ah?. .


2, did not get the idea.


Admit that they do not like a get rich mentality, see a pavement crowds, he will want to sell something there, so attractive in the end, go back to their point of sale is also crunching. I just want to squeeze to get some bargains. .


3. no financial and wealth planning.


Also a no. Never done their own planning, the designation can not stand another three months. .


4, financing and training methods are not appropriate.


After the knowledge, the financial management to the Forum. Method is learning. .


5, most people do not have to invest in areas of high rewards.


This is certainly the matter, if anyone knows investors get high returns, in addition to stock and pyramid schemes, please tell me immediately. .


6. no use of commercial practices in the control of expenditure.


That I have. Want to spend the time spent on telling myself first to say, regardless of control. .


7, not very good at creating a grasp of the financial and business opportunities.


This I think I did not, and believe that an opportunity has not come to the course I want to seize. .


8. no innovation consciousness knows how to decision-making.


Recognition. Do not want innovation. Heard so much about the IMF's description, but I was obsessed with the savings, because I was lazy, too troublesome. .


9, not in the correct way to solve the problem.


Does not recognize, I think I have been walking the right path up. .


10, did not find a finance and wealth Wizard.


They do not. But to financial wizard of life and later feeling too much, a little dizzy. (Alibaba). .


Three strategies let you earn 100 million.


The goal of most young people is 100 million, and the sooner as possible. However, according to the network survey, there were seven adults that at least 30 years of age should first have 100,000 yuan deposit, but only seven percent of people can do it. This means that there are many young people, even 10 million target is not able to reach, millions of wealth is a distant dream. .


Thus in society to become law. For example, never married, marry a fujianv, each issue of the lottery, which seems to be the fastest, but also the most unrealistic. Is there a chance to live their own efforts to advance earned millions of wealth, the answer of course is Yes, here are the short, medium and long-term strategy, the three packages for your reference.


2-year strategy: high-leverage tools to NCTU. .


If you want two years to earn wealth million, the most likely ways to live your dream was to use highly leveraged investment tool. Although the risk is high, but the reward is high, want to profit from small is big, multiples, it is necessary to correctly use this tool. If you market to trend-sensitive, regardless of whether go or go blank, have a chance.


With highly leveraged investment is not luck, but the judge set precise situation, calm face of broader market fluctuations, not with winning or losing emotional dance. But the so-called "high-yield high risk" and wanted to get huge profits for two years, equivalent to walking tightrope to make money, because the high leverage futures or options, when the wrong trend, several hundred thousand lost all appearance soon , is the highest risk of seeking a financial way. Therefore, the first simulation exercise and strictly control the amount of investment is the radicals of the most important road to self-protection. .


5-year strategy: to be the boss, when the top sales.


If you think they use the index or choose Quan big money, heart not strong enough, martial arts is not enough high, the number of years might Fangkuan point, will be 5-year strategic, is the struggle to start the boss, or is joining the headquarters of the owners, or to become business expert. .


What kind of venture to 5 years to recoup the cost of millions, of course, is to be iconic or seizing the opportunities of the venture. Special.


Higher level segment to earn money while yes boss's boss when Yiqun, that is, Cheng Li joined the chain headquarters, so long as developed tastes differ, or a unique business model, and can copy standardized procedures, stability Shouqu franchise royalties paid. .


Of course, the high cost of entrepreneurship, learning is also very strong. If you do not want to be the boss, just want to continue when buddy profits, may wish to select a product price is high, the Commission is also high, the perfection of system of business system, as long as the method, you can become a master.


10-year strategy: the use of a variety of conservative financial management tools. .


If the admission of investment instruments, nor suitable for the business when the boss, or lacking in dealing with people, unable to become a business expert, then will have to return to Orthodox financial pipeline to accumulate wealth in time to 10 years, a positive revenue, savings, through regular savings or investment deposits stocks earn dividend each year, or give money to financial experts, through regular, fixed capital investments, and gradually accumulated assets.


More traditional way is to invest in real estate, although the downward revision of domestic real estate prices have room for, but as long as the election of the sections, you can still find great growth potential of the house, whether occupied or investment, is a robust means of accumulating assets. .


You are eager for a rabbit-or slow-turtle? actually fit to get rich scheme, but would like to remind that, regardless of which plan to choose, and want to get ahead, it is important to do well, understand in-depth the wealth of practical, millions of recipients will not be distant dream! (Ford Foundation — CIA open cultural battle to win the next battle is not.


New York News Press published in 2000 written by British author 弗朗西斯施特 Luosangdesi "CIA and the Cultural Cold War," a book. In the book, the author of many little-known facts revealed to the world after World War II to serve the purpose of the United States hegemony in the world, the U.S. Central Intelligence Agency to spared no expense, invested heavily, to the sacred battlefield of the Cold War opened up the field of culture media One wing of the temple of high art into a tool for ideological penetration. This article is a "CIA and the Cultural Cold War," a book summary, tip of the iceberg. .


After the end of World War II, the Soviet Union became the Eastern hemisphere has overwhelming superpower and the expansion of Western Europe had coveted. 1946 on 22 February, the United States Ambassador to the Soviet agents · George Kennan's "containment" of the Soviet Union, became a u.s. cold war policy of ideological basis and rationale. In 1947, the United States National Security Council issued a Directive NSC-4, indicating that the CIA is responsible for the "secret" psychological warfare campaign to support the Government's policy. On 18 June the following year, the Commission also issued an NSC-10/2, directive, authorize the CIA to conduct covert action (i.e., political and paramilitary covert operations). . By former U.S. Secretary of State Henry Kissinger to say, the CIA set up the team is "a national allegiance to the noble class, follow the principle of non-partisan" is a secret weapon in the Cold War the United States, it is widely spread in the culture area. Policy Coordination Office in order to facilitate the activities soon after the U.S. Congress passed the "Central Intelligence Agency Act," authorized the CIA in funding expenditure without explanation of its purpose. Just a few years, policy coordination officers doubled, the rapid expansion of institutions, the budget jumped by a millions of dollars to several millions of dollars. .


"In the third world war to untrue.


50 In the early 20th century, in World War II, the effectiveness of psychological warfare for Eisenhower as President of the psychological warfare experts in Jackson, Special Adviser. April 1951, the Commission set up psychological warfare. The CIA also established for psychological warfare, "International Organizations." Jackson plans for the U.S. goal is the development of psychological warfare "in the time of World War III to win without fighting." As Eisenhower said: "The so-called psychological warfare, is to seek people's thoughts, for a struggle of human will.。.


Culture of the Cold War the CIA to carry out major funding from the Marshall Plan, the secret funds. According to the Marshall Plan, Western Europe, in order to make U.S. aid funds can play a strong role to accept Marshall Plan aid each country should be an equal number with the aid of funds deposited into the Central Bank, as counterpart funding. Under the agreement, counterpart funding shared by the United States and recipient countries, most of which (95%) for the legal property of the recipient countries, while 5% will have to as part of the culture of the Cold War the U.S. government's secret funds (about 200 million U.S. dollars) , owned by the CIA to use. .


The body of the cold war the CIA took place in the cultural field, its characteristics are the investment by secret and the effective management of the "unofficial" or "friend" of the systematic organization to form a non-official joint forces. Play the main role of charitable foundations, companies and other bodies and individuals. These institutions and members of the Committee, like the who's who in General in the United States, including entrepreneurs, lawyers, diplomats and the Marshall plan administrative officials, the media Tycoon, film directors, journalists, etc. These institutions and individuals work closely with the CIA's clandestine provides cover and funding. . .


In his careful management, on behalf of the "cultural freedom" became the CIA's a tremendous asset. "".


June 1950 26, saying the CIA to form the "Congress of Cultural Freedom" (the "Conference") was established in Berlin, Titania Palace. After "Assembly" moved to Paris and in the United Kingdom and Italy, and the establishment of branches. Many CIA officials directly involved in the work and supervision. Amassed a large number of these institutions well-known writers, artists, philosophers, mathematicians and other Nobel Prize winners. "General Assembly" in the CIA's behest, will fight for the middle molecules as targets, and focus on doing "non-Communist Left", so that they gradually turned into Cold War culture of the United States to carry out the basic strength to rely on.。.


1950, -1,967, the CIA to the "General Assembly" and its related projects invested millions of dollars. Under his careful management, "General Assembly" has become a Western cultural life, "dazzling bright spots" and the CIA a "tremendous asset." Peak, the branch (or offices) throughout 35 countries, published more than 20 kinds of influential publications. "Assembly" also organized a number of high-level international conferences, art exhibitions, award ceremonies, or for musicians, artists the opportunity to provide activities such as performances and exhibitions, so they are no longer interested in Marxism and communism ideologically acceptable "American way" point of view.。 The CIA through the "Assembly" that they "according to the CIA in the direction specified by".


December 31, 1967, the U.S. government declared an end to "any state education agency or private voluntary organizations" to provide all the secret funding. But the ban "does not prohibit (CIA) and the commercial relations between the U.S. secret agencies," not prohibited "to international organizations in foreign funding." In the eyes of the CIA, these restrictions only "security measures" aimed "to prevent the CIA's activities are exposed, causing the sensitive destruction of the secret plan of action." "Assembly" was eventually replaced by the Ford Foundation funding, but the actual management is still controlled by the United States, Britain, France, the hands of intelligence agencies.。.


"Genuine" of the Foundation is "the best cover funding agencies." .


In this cultural superiority of the cold war, the CIA created and funded the many foundations through secret funds "money laundering" and in cultural activities. CIA, often through a "patriotic" enterprises or individuals came forward and put the money into discomforts "contributions" completely legally donated one legitimate activities of famous Foundation, the Foundation's Board of Directors members are u.s. social, financial and political elite, the Foundation and then take the "grants" lawfully made available to the CIA specified units or individuals.


Foundation funded the CIA during the Cold War is difficult to count, only the Congress, according to a survey, in l963-l966 years, there is more than l60 Foundation provided more than 700 international projects funded. A 1966 CIA report stressed that "genuine" of the Foundation, such as the Ford, Rockefeller and Carnegie Foundation, "is the best and the most difficult to cover organizations suspected of funding." Ford Foundation's directors, officers most closely with the CIA, some of which are agents. McCloy served as chairman of the Council when dozens of CIA agents who have to provide cover for identity and the establishment of a management department to deal specifically with the relationship with the CIA.。.


Intervention activities to promote American culture, freedom and values. .


Organizing the Festival April 1951, the company approved the Europe Festival and in New York in the United States, in the name of cultural freedom Committee held a "Festival of the accounts for the CIA and State Department secretly funded also urgently set up Fifield Foundation as its external organizations, funding for the Arts Festival.


Funded magazine in October 1948, the CIA funding for the creation of the "Monthly" magazine, to publicize the policy of the United States to Europe, the journal has come from the Marshall Plan had funded "secret funds", the CIA, the Ford Foundation. June 1953, the CIA and British intelligence agencies to make up for the British anti-Communist intellectuals strong enough, and joint founder of "encounter" magazine. The magazine has been hailed as the CIA is proud of a cultural front "flagship." Rely on the CIA funding of the publication are "comments", "new leaders", "Partisan Review" and other.。 In 1958, the CIA has direct hire of McDonald's magazine an article to the United States, United States Code, as this article criticized the American values, touched on the dark side of the United States.


Publication of books through a secret CIA funding of foreign publishers or book vendors, publication or distribution of books abroad. The principle is: the publication of books should not have any public contact the U.S. government to avoid being criticized, for the position of "sensitive" work with particular attention to; published book is action, not to take into account the commercial interests. According to the 1977 "New York Times" said the CIA to intervene at least 1,000 kinds of publications. .


Intervention movie CIA often start with the identity of the producer or a broker as a cover in the film company. In the early 1950s, in the work of paramount's CIA Carleton · Alsop on time for the CIA and psychological warfare Committee report, "prepared" movie, Hollywood made an assessment of the political climate, and to enable producers to receive the CIA's "Hollywood mode".


Art exhibition to showcase to the world the United States has its "great freedom" commensurate with art, abstract art as a Cold War CIA use of weapons. To this end the CIA turned to private management sector, active promotion of the funding come forward to hold the United States Museum of Modern Art exhibition, will push the United States, Europe, modern abstract art. "General Assembly" for the museum exhibition in Europe to provide financial support and the full range of services. The exhibition caused a sensation in Europe, affecting a large number of the arts community to achieve the desired purpose. .


Report: reporter on "the Ford Foundation," Chief Representative in China, Hua-an interview with Mr..


Reporter: Could you tell us about the Ford Foundation to Jinhui Gang began in China's major areas of work. .


Huaan Mr.: Ford Foundation into China, the work mainly in three areas: in the economic sphere, the Ford Foundation funding for some projects, the main aim is to help Chinese economists and Government departments to grasp the theory of a market economy, and to establish fruitful economic reform policies.


In the legal system, the Ford Foundation noted that the rule of law principles proposed by China, the establishment of some new laws, improve the legal system is an important part of modernization, we provide research on many legal workers, study and study funding . .


At the beginning of China's reform and opening up, international exchange in some cases not familiar with the Ford Foundation in the context of international relations and worker training and exchanges in order to improve their international exchanges in China, the Chinese on international issues of perspectives, to handle international transactions.


Reporter: Ford Foundation, the major work of the current direction? . .


Huaan Mr.: since the mid-1990s, as China's socio-economic development of China's economic, legal and international relations of the enormous progress in the field, the Ford Foundation has adjusted its own working directions concerning China's social development facing new challenges, mainly in the financial and economic security, education reform and protection of cultural diversity, the environment and development, governance and public policy, international cooperation, law and rights, not-for-profit sector development, sexual and reproductive health, etc..


Financial crisis, soaring inflation, so that every Salaried stricken. Look at the people "stock god" Buffett, one week wealth more than 10 billion U.S. dollars, but still calm,. It is too wealthy. Buffett could not be said, that is around you, Deal or No Deal's rich brother Rich Wives Fu Fu Fu Fu Jie brother sister seems more and more. You could not help feeling: how do I not up on the rich? . .


Many people think that they are not because they are paid so little, if they can earn more money, they could put the money savings, investment, and thus achieve a virtuous circle of money-proliferation financing. However, this is in fact an unhelpful assumptions, this theory is that these complaints are paid too little in recent times a raise before, you might say the same complaint. The fact is that to become a millionaire and you can earn between little too large, you can become rich, critical look at your usual attitude towards money.


Of course, to analyze why you can not become rich because you can find out a lot, but the following 10 drawback may be the most likely to become your stumbling block to get rich:. .


1. about what other people think of your car.


Car is a way to you from one place to another means of transport, but many people do not think so. Many car as a status symbol, every few years to spend money on in the car, rather than in the case of cars still can be used to continue to go on, will the savings for investment. In fact, the car is only a "representative", your clothes and medicine, it is also like watching someone else's cue to save face, hat and no cattle, the result will never be able to fulfill the most basic primitive accumulation. .


2. you always think you should have a good day.


If you think you should be living in a particular way of life, you must have certain things need to spend a certain amount of money, if you are not able to meet these, you may go to borrow money to spend. No doubt, but a large debt destined to affect your development, you are also getting away from the accumulation of wealth. .


3. your financial means lack of change:.


This is the oldest and most valuable financial management maxim: Do not put all eggs in one basket. Has a diversified portfolio to a large extent to avoid sudden evaporation of your wealth. .


4. you started too late.


In investment and financial management, there is a term called "compound interest", similar to compound interest, but "compound interest" the magic power often only apparent after a very long time. If you find yourself in plenty of time after that save and invest, retire one day you will suddenly find you have not far away from, and your retirement account is still nothing. .


5. you don't like his work.


Although your work does not necessarily have to be your dream, but you have to like it. If you choose a money simply because you do not like work, then you will have to spend all the money left to reduce your engaged in this work do not like the pressure. .


。.


6. . You do not like learning. .


You may have such an idea, once graduated, you no longer need to learn. This idea may be able to let you keep your first job, but it will never let you become rich. If you want to become rich, voluntarily to learn all kinds of knowledge, improve quality, increase financial knowledge is necessary.


7. . You do not often buy things you do. .


Take a look at your House, closets, basements, attics and garages, if there is a lot in the past year you've never used before. If so, then you buy these things might just be wasting could increase your net asset value of money.


8. . You do not know what is the value. .


You due to various reasons to buy a lot of things, but never knew these things can give you what benefits. This situation does not occur in those who only buy the most expensive thing, just buy the cheapest thing also exist above. This approach is rarely reflect the true value of the product, only when you learn how to buy a valuable thing, you can have money left over to invest in the future.


9. . Your house too. .


If you bought cannot afford or do not need a large House, with the result that you will repay a loan for a longer time, pay more taxes, more spending on maintenance, but also to buy more stuff to fill it. Some might argue that the House will add value, so the House is the best investment, however, unless you are the room bug, some real skills, or would you like to reduce their living standards, this year's live 100 square meters, change live next year, 50 square meters, or my house will never become available for your use and enjoyment of current assets or funds. The problem is that used a large House and you are willing to live in a small house?.


10. . You grip the opportunity. .


You may have heard more than once, some people who finally making, then you may regret: "I think, I can also do so. "If you have the persistence and perseverance ready, you will find a lot of this great opportunity. The problem is that you have the persistence and perseverance?.


If you can not do, "the pursuit of wealth, perseverance," then just do not do dreams of riches, and still be able to realistically make it to their own work. Step back big boss. .


Huang guangyu was elected for the first time he was a reporter asked him whether to spend money to buy this title. Yellow roared: "I had him hurun? his list is a who ' arrest ', who Capit!" had not expected, a prophecy.


Liu Yongxing VS Huang Guangyu. .


Surprising is the fact that the two list published in less than a month, the company's fate as his wealth, a drastic fluctuations.

"Bible" that "rich man to enter heaven than a camel through the eye of a needle more difficult", this time of difficulty for Huang Guangyu, the what is a small fall or beyond redemption, and now it is hard to judge. People often do not care who is richest, but also relish in the wealth behind the legend, today's Huang Guangyu to that of the drama of the ways to meet everyone's curiosity. When he was first elected, "richest man", some reporters asked him whether the money bought the title. Huang laughed: "I'm sick of Hoogewerf, and returned him the money? This list is his 'warrant', who on Shuidao Mei!." .

Bare hands beat the world came to China in the United Kingdom seems to be to lads hurun equally full of aggressive and adventurous GOME Group Chairman Huang guangyu lights. In his report of China well-represented, Huang guangyu three times pushed the richest of the throne. In the 2008 list, the company's personal wealth is 430 billion RMB.

Founded in 1917, while the "Forbes" magazine it appears relatively cautious, the richest man, left the throne has been steady development of the East Hope Group chairman Liu Yongxing. In the "2008 Forbes China Rich List" on Liu Yongxing's personal wealth is 20.4 billion yuan. .

Comparison of the two within a month, has been issued will be found on the Regal are the results of the assessment of individual wealth has great differences. For example, the same is to capture the "2008 Forbes Chinese magnates" only 183. .6 billion RMB, and the estimation of hurun report 246 results. .4 billion RMB. On the estimation of wealth yongxing is rare "hero", "hurun report 2008", he has a personal wealth of 250 million Yuan, and Forbes estimates comparable. But unlike most serious shrink this year wealth wealthy, yongxing wealth than last year's 180 million RMB with .8. steady growth.

Surprisingly, the two list published less than a month, like Huang Guangyu of fate as his wealth, there has been dramatic ups and downs. Around November 22, the network began to Huang Guangyu was caught rumors. , The CCTV report confirmed the news. It is said that the cause is holding on his brother Huang Junqin * ST Tae stock manipulation. Second half of 2007, * ST Jintai pull 42 consecutive daily limit, known as the Chinese stock market first "monster." Two years ago, it was once rumored Huang Guangyu alleged bribery and misappropriation of funds was illegal operation of real estate investigation.。.

Richest man in the yellow, while riding a roller coaster, there are strolling the elegant Liu richest man. Because it is not listed, Liu Yongxing the stock market do not suffer the torment of the list price fluctuations. Although its energy industry is also affected by the economic environment, but his family have surplus grain, heart does not panic. .

This winter, those without overnight m people it hopes can sell yongxing save those in trouble in the aluminum industry and coal chemical industry enterprises. Even if you have compete with him to take control of alumina project sanmenxia engender — China aluminum — has just announced layoffs thousand to tide, but he's subsidiary baotou, sanmenxia aluminium instead of layoffs, but the opportunity in person. On giving price buy energy enterprises, yongxing maintain vigilance. Although there are opportunities for expansion, but he would rather stay at prepared to deal with the economic crisis may continue for many years.

"Yesterday's result, today's results; today is a result, the fruits of tomorrow." Buddhism stresses that the causal loop. Liu Yongxing and Huang Guangyu different situation today, but also because the two men yesterday what caused the difference? . .

Business expansion: half a step ahead and bold aggressive.

Wong Kwong Yu and Liu Yongxing the biggest difference between enterprise development is a bold and aggressive, one at every step. .

Company's wealth of process like a rapidly climbing the roller coaster. In December 2001, the United States in the country's total assets of almost $ 5 billion yuan; after three years, it is precisely the value of the company's NT; but the change in the value of this, and to capture roughly 4 times as much. Explore the wealth of the company's trip, we will find the 30-year-old man, was "in Chaoshan imagination + ambition + financial management techniques,"..

Before 2003 the situation is not very optimistic about the earnings of Gome retail business has achieved a considerable of 经营 规模, resulting in Juda's cash streams to Yi Bufen Zijintongguo States America Xinei the Touzigongsi, Yi Wang to Kuan's Xingshizhuanyi Ji a companies engaged in real estate within the Department of free use; real estate gains a high return flow back into the electrical retail industry has, for the expansion to provide financial support. .

After that, it is listed on the packaging of 2004; 2005 national "Happy Valley circle", a breath away more than 250 stores; and then is on Yongle, large and medium-sized and triple trading companies and other industry giants of consecutive acquisitions. At the same time, capture the flag, the real estate project under also received strong capital injection.

Huang Guangyu of the "main" - GOME Electrical Appliances, seems to have achieved good results. Is in the public eye of the storm of Gome, on the afternoon of November 24 announced third-quarter financial report. The report shows that as of September 30, the first three quarters of listed companies revenue 36.4 billion yuan, up 20. .0%; Operating profit of 18. .7 Billion yuan. .

But now it seems that the company's acquisition of large and medium-sized appliances and triple penetration, or is a bargain. The acquisition of large and medium, for example, the United States paid cash 36. .5 billion, converted into earnings up to 18 times the current listing of GOME Kong p/e ratio of only 6 times, if present in the company's largest listed companies in Gome Electrical load, its acquisition price net deficit compared to 20 billion.

And Huang Guangyu's "backdoor dream property" also suffered a defeat. Shares for the acquisition of Zhongguancun, Huang Guangyu has spent 9. .1 Billion, but macro-control, tightening of monetary policy on the huge impact the domestic real estate business, the original plan to Eagle real estate real estate assets of 18 billion yuan into the park's plans suffered a setback. .

In the company's portfolio, as well as last year and now bankrupt firms Bear Stearns international joint formation 5 billion of retail investment funds, as well as Singapore's Pacific Star Group amounted to $ 8 billion investment in private equity real estate industry. In the current downturn in the market, the two funds, calm, nothing serious.

Huang Guangyu aggressive peak in asset valuation conducted large-scale investment, the financial turmoil triggered by the sudden economic crisis, became the capital for the operation of magnates like the "massacre." .

In contrast, "Forbes richest" yongxing version seems to be cautious in disguise. His East hope though to get bigger, but also to get involved in the chemical industry, financial, and other areas, agriculture and animal husbandry has always been his first business.

Liu Yongxing on the market has been down-hearted. He explained that one is done before the feed industry has not the money, so do not need financing, one is too easy to loose money expansion-minded people, the best bit tight with money. .

It is guided by the "with your own money without having to worry about" principle, yongxing this life's biggest adventure — investment related to the energy industry, such as aluminum, upfront investment 20 billion all accumulated funds, only to have him at the end of 2003 on Chinese private enterprises to industrialization campaigns to combat, from ruin, avoid iron as this group wear Guofang..

Political and commercial relations: tremble and intimacy. .

China is now the reality is that Governments in the development of relevant policies, but too weak merchant groups at present and cannot be involved in this process, it is difficult to influence the decision-making process, only to comply with the obligation of execution. Fenglun, "listen to the party, followed by the Government or your company can develop. ” 。.

Liu Yongxing brother is a Chinese private entrepreneurs in the "obedient" model. Every step of development they are combined with the rhythm of the Government's policy, looking at the government's face to work, never drilled loopholes of government policy to allow the government trapped in a passive, and thus make the family business to avoid policy control of the edge.。 Until three years after approval of the State is only a brotherly Minsheng Bank ... the major shareholders.

Liu Yongxing the "official philosophy" in the short term affect the speed and path of development of enterprises. Because "real estate requires a lot of (insider) trading, need to keep on eating and drinking wine gifts," he finally give up access to real estate. .

But the company's brother from the entrepreneurship is a policy and legal edge drifted. For example, the early big brother Huang Qin Huang guangyu is because reselling electric products, was seized by police in Hohhot speculation.

In the midst of chaos among these "lone hero" type of entrepreneurs at the time of many "wanton disregard" of the move, also has its positive significance: their laws and policies was the bottom line of the test and the offense, the objective to expand their margin and commercial space. But sometimes also result from risk. .

Company's two major crises, are exposed to some officials in corrupt practices. As in 2006, the company's brother into 13 million illegal lending crisis, the cause is because Bank Beijing Branch of the cow-light was President; but this time of the event, it is rumored that is also because the Commerce Department officials in Zhiyi of Guo Jing and Huang guangyu, such as the case may be involved in the overall listing with GOME bribery.

Practices: strong tolerance and tough domineering. .

Yongxing said he didn't like and the relationship between people and resources, "caused by their own personality."

Liu Yongxing most admired person is Taiwan's Wang. He felt that Wang's most commendable, he got down to business, very decent man. "Our goal is to do a century enterprise, therefore, can not do certain things too much. So do not follow the crowd, to think independently.". .

In contrast, in a multimedia journalist impression, Huang guangyu unavoidable own-like atmosphere. At one time, on the capture and GOME Empire too overbearing reported repeatedly appeared in the press side, similar to the "Godfather" and "price butcher" title is added in his head, and even the media began to accuse the United States is "the triad boss-corporate culture." Huang guangyu obviously countless, so a simply gave his "thing" in a stinging attack on bald head and a completely indifferent manner against all doubts.

And journalists in a chat, Huang Guangyu difficult for some aggressive media hide their young and fit: "I feel very strange, where they compiled this story out? True that the state 'triads' I will bear the brunt . I black Where? me how dark?. " .

This issue courts and authorities of the Government, perhaps more qualified to answer. So, the answer would be like.

Huang Guangyu of a Chinese Dream? . .

If you do not happen today arrested event, Huang guangyu can become China's reform and opening up the best advocate for 30 years.

No matter how, there are some things that have been defined or are clear: Huang Guangyu problems, and what the secondary market manipulation, the national U.S. stock suspension, is expected to fall will be retaliatory, Huang Guangyu of trouble even affect the whole of China Household Appliance Industry pattern, there was news that appliance manufacturers have already stopped the U.S. supply to the country, and there is always the statement said home appliance manufacturers and the country out of the United States together to support each other tide over the difficulties ... .... .

Prior to this, the company's role is the dream of a perfect interpretation. He is from a poor village in Shantou Guangdong rural children, a junior high school are not read lifeSince "self-employed", were completed in less than 20 years, becoming the world's richest people.

Today, this beautiful all seem to cast a heavy shadow layer. .

Chinese dream.

All the stories have to go back to Deng Xiaoping's decision, when China is determined and the world has the means to use market mechanisms to solve the resource allocation problem, Huang Guangyu and his colleagues greeted his opportunity. .

In the mid-1980s, 17-year-old company's (also known as Huang Margaret), together with brother Huang Qin, 4000 Yuan from the home to the North, the area of trade. One year after the entry into Beijing, at the made half a year in business, in an area of zhushikou is less than 100 square meters of the electrical shop, 1987 and January, the official "GOME" signs.

Made in this legendary family history of similar, no one knows Huang brothers behind scratch, in the end has not known how the story. When the Huang Guangyu put on the "richest" people to accept the crown of worship, the various rumors springing up, many people thought he relied on smuggling started, the "original sin" of the burden is always accompanied him. .

Capture does not seem to deny this, of course, he did admit that he only said himself in Beijing shop money from doing business in Inner Mongolia. As for why and how no one understood. The good news is that Chinese people had not asked the source of the hero of generosity, and understanding of the reality of the unspoken, understood the company's fortune is not easy.

States United States beginning in the business sector will create a lot of precedent: in 1990 created the first "underwriting" system, in 1991, the first in the "Beijing Evening News" in the joint offer logout product advertising in 1993 to open stores in Beijing in 1996, by the simple imports began to shift operations to domestic and joint venture brands, expand to the nation since 1999. .

Writing a biography of the 105 million to capture the Allen NG has used three turning point in the summary of the history of the United States to capture: the Empire.

1993, Huang Guangyu and brother Huang Junqin 6 years in the joint operation of the appliance business, is beginning to split. Assets, including real estate owned by his brother Huang Junqin, later he founded a new real estate-based industry, the Henderson Group. Huang Guangyu then stick to electrical retailing and in the number of stores opened this year, the brand name "GOME", he also recruited a group of professional managers, and later made major contributions toward the development of the GOME appealing, therefore, the core members, Li Juntao , He Ju, Hua Tian and others, that in this period were invited to the States United States Huang Guangyu. .

In 1997, a comprehensive restructuring of product sales. From the previous import appliances, to sales joint venture, domestic brand appliances. This change to seize the Chinese home appliance manufacturing industry-owned brand rising trend, whereas previously imported electrical and in short supply, since 1997, foreign home appliance brands have established a joint venture plant in China, and headed to CHANGHONG brands have domestic appliances, and the rise of a price war prologue, China's home appliance manufacturing entered the era of oversupply. GOME previously own business philosophy to adjust quickly to establish a "surplus" era of marketing strategy. . .

In 1999, the United States out of Beijing and entered the Tianjin and Shanghai, in turn, to enter the country, "the United States model," copy to one big or media-sized cities, the arrival of the lift is raised huge waves, with the constant retails area revolution.

To change the Chinese way of life. .

2004 selected Huang guangyu become the richest enables hurun suitors, in his view, he identified a Chinese · Sam Walton (founder of Wal-Mart supermarket).

Mr. Sam and Wong Kwong at least the younger generation have found an irrefutable truth, and carry forward - face the same goods, people always love a bargain. .

The United States as one low price, fast open up each area of the market. GOME each to a city, a local home appliance retail market average price would be pulled down 10% ~ 15% for consumers, the nature are difficult to resist temptation. For manufacturers, while traditional shopping centre and agents have all asked manufacturers to supply the United States, the United States increasingly strong distribution capacity, is most productive capacity is in excess of manufacturers can't refuse.

"Please 2, depriving the other channels," a country the United States this new Yetai irresistible force of natural advantages. In the overproduction of the times, the country is not the 20th century, the United States the late 80's that under the traditional mall looking for "off the floor of the cooked rice" and small electrical appliances dealers, and it has become a challenge to traditional sources of new forces. .

It is in this whirlwind, Huang guangyu won the attention of the world: he is not only a wealth of heroes, but more importantly he has changed many people's way of life. He let China's large and medium-sized cities residents to purchase electric first choice more was left to his country, he also worked in Chinese business movers and shakers of the manufacturers are becoming its own client.

February 24, 2004, the largest ever household appliances, the maximum size a summit - the "National Summit on U.S. Global Strategy for Cooperation," sponsored by the GOME held in Beijing. Foreign giants mobilize on convergence capital, so that only the moderator introduced the guests to use up a full 20 minutes. .

In this giants to capture gathered in the Assembly, clearly said: "If there is mutual advantage, mutual suspicion of State, a gun is not a place, and the United States follow me I do with large, medium and large do not come with me, I find the United States to me to be my knees as we do, then I'll try to retaliate, this will be the vicious competition cycle. In today's manufacturers, businessmen who want to topple the who, and who want to control in the Palm, the possibilities are enormous. So we need to do more to strengthen mutual trust and good faith, to reduce exclusion and distrust for the long-term development of the design, to consolidate our relationship. . "Remarks right off the court silent..

He even said so with great walks: "a lot of people talk to me and said ' I cost is very high, there is no way I can not give you the profits or the price cannot be sold, but why others ' also product even better than you can do this price? this is your problem, your ability to adapt, but not my way to you. Not you, I should not earn you money, but your costs are higher than that of your peers, your space will become smaller and smaller. ” 。.

Since then, the expansion of his empire appliances increasingly eyebrows: November 1, 2006, Gome announced 52. .68 Billion "stock + cash" in the form of mergers and acquisitions Yongle. Now it seems that this is the largest appliance in the history of a chain takeover. Paradise chairman Chen Xiao altogether became his former rival Huang Guangyu of the CEO. .

2007 December 14, in the evening, GOME announcements that will be 36 billion through a third party to purchase the big curve, and comprehensive in electrical took over the business of large and medium-sized appliances.

March 3, 2008, triple trading company announcement said, "Shandong Longji Island has become its largest shareholder," which means that Shandong's largest home appliance chain stores owned by the country into the United States. .

With an enviable record of Huang guangyu naturally become the focus of attention, gave him numerous awards. In 2006, the u.s. "TIME magazine" the world as the most influential 100 individuals ", and at the same time, he was elected along with Chinese Premier Wen Jiabao.

Next Delong? . .

In dazzling behind the company's acquisitions have also been efforts to build a complete management system behind: as early as 1998, the United States, introduced the GOME Management Handbook, the establishment of a sound chain management model to lay a solid foundation for the country.

In this development from a 200-page book today thousands of yard, Gome's management philosophy as daylight, such as items placed neatly, what counted neatly into a line, or how kind? Gome's management manual is strictly controlled, and Wal-Mart's management manual that has the same purpose. .

Retails is actually a very high on the management requirements of the industry — shopping centre is rented, the counter displays are manufacturers, most of the staff is also distributed by the manufacturers. Most valuable brand and lies in its ability to sell.

GOME is an early use of ERP business management system for more effective management of all new business practices, Huang Guangyu has always been positively received. .

Outside the company's equal to the GOME electrical household appliances is, after all, and each is closely related to ordinary people. But in the eyes of the business Tycoon, retails however is a commercial Empire, perhaps most important, but certainly not unique.

In October 2008 announced the "2008 Hurun" in Huang Guangyu to 43 billion fortune when, on the third edition Hoogewerf "China's richest man." Gome Huang Guangyu has 35 listed companies in Hong Kong. .55% Of the shares, worth 14 billion yuan; while non-listed companies have a retail 100% interest. He also invest in real estate, created the Beijing Eagle Investment Co., Ltd., in Beijing developed the Eagle Building, Pengrunjiayuan, Gome City, City and other real estate projects tomorrow. .

Huang guangyu never satisfied with GOME success, in the capital market success is the richest of the throne, he captured the most important factors.

In 2000, Huang Guangyu met well-known Hong Kong's capital market "shell king", Chaoshan fellow CHIM Pui-chung. Chan is with the cooperation, so that started to enter the capital of marine Huang Guangyu, to blow their own wealth, but also planted the seeds of future controversy. .

In February 2002, CHIM's listed "Jinghua Automation" announcement, SEO 13. .5 million new shares, earnings per share of $ 0. .1, all provided by the company's name on the BVI company Shining Crown of cash, the company will fully develop real estate business. In this message stimulated, Jinghua automated stock within a short period of time up to 4 times.

More than four months later, the "capital automation" was renamed "China Eagle," while China's main business is the Eagle acquisition of Huang Guangyu Xibahe located in Beijing Chaoyang District Court North Lane 7, the property project. It is noteworthy that, in the Imperfection in the process, not only was Huang Guangyu of absolute control over listed companies, but also by listed companies and stock transfer cash to achieve some of the cash, this is a "hand to the" game . .

This is only the beginning of the game company's capital, at the beginning of 2003, the company's reorganization of the GOME, Jinan, Beijing, Tianjin, Guangzhou, Chongqing and so a total of 18 subsidiaries 94 stores into a wholly-owned by the company Beijing pengrun billion Fortune holding GOME 65% of the shares, the remaining individuals directly held 35% of the shares. In April 2004, Perun billion Fortune, in turn, the GOME equity all sold to BVI company Ocean Town (at the company's wholly-owned by Gome Hodings holds).

June 7, 2004, China Eagle issued a notice on June 3 of its wholly-owned subsidiary through the purchase of the Ocean Town100% interest, the only asset is its 65% stake in Gome. The transaction is completed, the main business of China Eagle will turn to retail. .

In this series of capital operation, the core idea behind truly exceptional clarity: through Hong Kong developed capital markets, to capture as much as possible to the GOME this optimal asset worth while taking advantage of the secondary market, reduction through several successful cash for themselves.

Huang Guangyu left for the retail, property right, the practice of mind, capital markets, outside observers has been that he is playing a dangerous game. Some analysts even said: Huang Guangyu the funds used to develop real estate funds from the retail precipitation, in his game, speed is the most important, once the capital strand breaks, all games must end with. .

In addition, a background, show off the company's financial management techniques, is precisely the Yongle, suning, competitors in the capital markets, trotted start capture with speed win for future competition won opportunities.

The combination of industry and capital into GE, seems to have been a dream of Chinese entrepreneurs. Delong came crashing down in the back of still fresh in our memory, the Huang Guangyu detained the news to some doubt: he will be the next Delong? . .

The confirmation message that Huang guangyu up its brother Huang Qin's * ST jintai stock trading. Last year, A unit of the crazy game, Huang Qin, through its control of the company, continuous pull 42 daily limit, have rushed to $ 26. .58, crazy, 21 November, has been dropped to $ 2. .31.

In 2006, "Finance" magazine has already broke the news: the official survey, at least 13 billion problem loans in the Eagle and the new close flow between Henderson and eventually flows abroad, acting suspiciously. These funds constitute only 90 of the last century's brother Huang Junqin start of the "pot of gold", after the year 2000 also continue to support its expansion. .

The investigation of the head, and 9 years ago with the loan directly related to the case. The loan line is a bank. On the eve of the national day this year, the former Beijing Bank Governor, Bank of China, Managing Director of Bull-light, Huang Chin-I also once entered the Ministry of public security monitoring of coverage.

It is worth mentioning that the wife of Huang Guangyu cuckoo previously working in Beijing Bank of China. .

In 2007, * ST jintai event, a man named Liu Fang's individual investors into the whole of China financial focus of media attention, he or she "yaogu" accurate and huge, immense curiosity let outside his true identity.

There are already reports that, "Liu Fang," most likely representative of the chain of interest is Huang Guangyu. .

The fate of the wealthy.

Operating within the company, the Huang Guangyu has a special authority. His authority and make sense to send people to do a similar faction boss. Outsiders may be difficult to imagine that he was a Catholic, which by the mother of his close relationship. According to people close to Wong Kwong Yu said many of his close relatives were Catholics, born on baptized. .

The Bible says "go to heaven than camel also difficulties", this time of difficulty for Huang guangyu, whether it is a minor fall or irrevocable, now it is still difficult to judge. People often don't care who is the richest, it is more exciting to wealth behind the legendary story of Huang guangyu today to this kind of sexual manner to satisfy the curiosity of everyone.

When he was first elected, "richest man", some reporters asked him whether the money bought the title. Huang laughed: "I'm sick of Hoogewerf, and returned him the money? This list is his 'warrant', who on Shuidao Mei!." .

Never expected, a prophecy.

Liu Yongxing jog in the cold winter ahead. .

Put aside all the aura, he is just a wrong side man, but he also busy on various occasions.

Carefully avoid the media and the public eye Liu Yongxing, quietly to crawl your life in another building. .

From the East on the ground floor of the building wishes to take the stairs to the 15 floor, Office, 60-year-old yongxing takes 5 minutes. Since the company moved to Pudong century Avenue, building their own office space, as one of the elements of daily fitness, morning and Secretary to climb the stairs instead of the elevator.

The morning is 8:00, northwest wind. Office of the French window is outside the shadow of the Pudong New Area, the sky, leaving lights on in broad daylight, the room is still dark to make people feel depressed. Liu Yongxing looking slightly again in the red Guangrun, time to meet with him I have been looking for words to describe the 60-year-old front man of character - he was very calm, quiet envy, though not clear, the number of real from inner peace, or merely personal restraint 使然. .

From the beginning of the year 2003, yongxing suddenly disappeared from the media. Before, we used in CCTV such mainstream media high-end economy programme, see this pair is treated as private enterprises representative of brothers — two alike face. Starting from this year, trying to hide from the media and the public eyes yongxing, quietly crept his own life in another building.

The building where the lift is not to his opening of this group. If you do not want to wait, to be up, he must all rely on our own strength. 6 years for each day are dedicated to him, a steady step, a step towards "that lies" climbing. .

He seems to have become increasingly powerful and confident. Similar to many and he has a vision of the people, or is already gone, or try other can get to the top of the tall buildings, more unfortunate people who have lost a fortune and freedom of the individual.

Stress ahead. .

In 2003, this year, China's economy has undergone a number of events. The Central Government to prevent the overheating of the iron and steel, aluminum and other sectors of the regulation. Private enterprise experience since he retired after the departure of the first hand, in the field of prevention of overheating because of its campaign, the State-owned enterprises haven't affected, many enterprises in this also continues to expand production capacity. This year, the State established.

After a year, had the support of the local steel Dai Guofang Dajian jail, after several years on charges of public with nonsense style of "fake tax deductible receipts." In 2004, Tang Wanxin Department of fallen brothers DeLong, Gu Chujun capital and some good games to play private entrepreneurs have trouble, through the capital market to achieve industrial integration of this route has been closed. .

In May 2004, has quietly started the second East hope, inside of the main-baotou aluminum project, sanmenxia alumina project was halted. Has invested 20 million of its own funds of the two "Big Mac" was forced to shut down a full half-years.

Six months later, the private capital restructuring "heavy" of the boom, the central government seems to be "and elimination" approach. After the public and the media out of sight, still is not the central government "Zhunsheng Zheng" in Baotou 1 and Sanmenxia launched at full capacity for civil engineering, the gap in policy to find their own living space. .

He did not become the next Dai says, East hope did not become the next iron present in Jiangsu Province.

About this soul-stirring events of the past, Liu Yongxing surprisingly calm. Period of suffering, perhaps the only one who knows himself. Now, he can open and talk to you, Baotou's electrolytic aluminum and alumina Sanmenxia conducted in an orderly manner. The widespread concern that the funding shortfall for the East, it seems to have no habit of "self-reliance" of Liu Yongxing of how much trouble - 20 years ago are still in Sichuan when the self-employed hatched chicks, quail, because one can not from bank loans to cents, he has learned to share I do not know how many 1000 dollars to spend. .

He also did not eat enough of the "lessons learned". In 2007, East hope even into the most State-owned monopoly power powerful, investment threshold higher industrial areas – petrochemical and coal chemical industry. In Chongqing, and baotou, related projects have to be built. In Fuling, a Western unique is the national development and Reform Commission approved by the annual production capacity of 60 000 tonnes of production line already settled in PTA.

This will be the sustenance Orient hope the second most important industry. According to Liu Yongxing said, petrochemical, coal chemical currently invested 60 billion, the company has accounted for one third of all of its own funds! "Up to now still not in operation, the preceding De planning, next year can." "If the exploration 成功, we will speed up the Dong Zuo." Liu Yongxing, or showing a low profile in a bit ambitious - Kaolv to Haiwaitouzi Dian Li, metallurgy Huagong and resources, however, "may by themselves to build, not buy.". .

This year the project central ministries sanmenxia and Henan provincial government, to the assessment of a sample of "energy-saving emission reduction and also award the title of" the 50 million. This allows for more than a few yongxing confidence — in 2004, for the sake of baotou, sanmenxia two projects absence to the "quasi-health card", he has had to EPA and running on both sides of the DRC, find a way out.

"Overtaken by events, beware blowing hot and cold." Just three years ago, the National Development and Reform Commission Department of Metallurgy stakeholders Speaking of "escaped" the East Hope, he had given meaningful "advice": "heavy industry at every turn hundreds of billions of yuan, the East want a private enterprise, how to avoid risk?. " .

Winter again.

In the winter, Dai Guofang again played like a tragic romance. .

18 November outgoing bring surprising news that Chinese private-owned steel Giants — Rizhao steel will be owned by the forced acquisition of Shandong iron and steel. A few weeks ago, the company's founders and 100% of all people — du shuanghua just on Mr. "bangyan" location, ranked number one in steel list run by the Regal.

In 2003, Du Shuanghua Rizhao Iron and Steel was founded, just 5 years, can be developed into 11 million tons production capacity of large steel companies, its effectiveness and productivity potentials are far greater in the province of state-owned steel company, however, since the plant has been converted into dollars 8 from bank credit. When steel prices have been declining in June, steel industries are facing problems of poor sales and cash flow tight this time, banks suddenly cut off loans to the sunshine of steel. .

One pointed out that the broken credit behind Rizhao Shandong iron and steel and steel with conflicts of interest. Shandong provincial Government hopes to make iron and steel industry in the province of industry consolidation, Rizhao steel is excellent port location and transport resources has been coveted by the object. A year ago, du shuanghua for this anxiety, ask whether you can make a separate private steel to complete the self-integration.

"Now, private enterprise has no channel for the financing." Wu Xiaobo commented: "Financial is the economic air, blood." Once pulled the oxygen tube, Du Shuanghua Yingxiongmolu. .

People Magazine: what do you think private enterprises are generally subject to discriminatory treatment?.

Liu Yongxing: (discriminatory treatment) in the gradual reduction of China's reform and opening up is gradual. Generally practice first, then the policy add up. We often walk in front of, it was not policy. Reflected in the policy, (Government) of the state-owned enterprises as private enterprises did not support. This is the reform and opening characteristics. Since it is a feature, we have no way to change out of it, as if the laws of nature. .

You accept it, the mind is not the same. You will be filled with anger, angry, we don't do it for you, or to behave himself, there would be an offence. Therefore, the attitude is very important.

Accepted, would abide by it. Practice has proved that (if) you benefit the community, for the people, policies will change over, development of policy will identify the model you are first. .

People Magazine: this is what you say than the policy of "only go half a step?".

Liu Yongxing: in the current set of policies and regulations within the unearthed in half a step, explore actual situation, there must be a very good draw the line, draw the line no, stuck to the. Iron this is a lesson, become a tragedy. .

People Magazine: this is the experience of 2003 to your inspiration?.

Liu Yongxing: Right, right. In 2003, the stability of our own doing, for example, all funds are our own, no loan, capital preparations took six years; Therefore, monetary tightening has no effect on us; second, technology is our most advanced; The third is the support of local governments to grant land, we have run a very complete various procedures. Although the policy was detrimental to us. .

However, we also find policy clearly support our doing so — because many policies are fighting each other, there is also a fuzzy place. Therefore, (they) would weigh, finds you are correct, at least in part, is not playing, not completely illegal.

People magazine: the mentality of that time nurtured Why? . .

Yongxing: Yeah. From the beginning of our business is like this, then, from the bank where the money is credited to 1000 blocks can be divided into many copies. From 1982 to 2002 during the past 20 years, we have never had a credit. It is this kind of conservative models help us into a heavy industry. From 1996 to start preparations for six years, we have used its own funds 20 million be risky business, helped us through the uncertainty.

People Magazine: Can you say that private enterprise is the childhood home, is not favored son, the parents how to fight the final acceptance and approval? . .

Yongxing: can't say so too. State-owned enterprises and private enterprises are sons, the eldest son's support for the development of the country for decades, and his youngest son's contribution has not been demonstrated that the Government give more money to you?.

People magazine: But, now the eldest son of the contribution is not satisfactory, the low efficiency of state-owned enterprises. .

Yongxing: therefore, we need to prove that we are a good son — we consume minimal resources of society, but created more wealth, contribution to society. After all, our society is in progress, will not allow excellent, good things were too long ordeal.

Will change, with such a development perspective the problem, and I feel much better. .

People Magazine: this type of living situation, do you feel tired?.

Liu Yongxing: not tired, do business with fun, tired, then rest enough. If you really feel physically and mentally exhausted, then do not do it up. For example, although there are challenges, there is confusion, but we must have the means, must be in front of very bright, or do not do it. .

Simulation of the death scene.

This winter, the door came to Liu Yongxing people suddenly began to rise. .

To the majority of local officials and some banks, they came to their respective local aluminum, coal chemical industry enterprises as a lobbyist, hope can release yongxing, save them into bankruptcy dilemma-old state-owned enterprises, joint-stock enterprises, and small private enterprises.

The impact of the global financial tsunami, the since 2002 enjoy high profits for many years steel, aluminum and other heavy industries suffering from the industry's losses. To aluminum, for example, prices fell 40%, most enterprises are in a cut-off, cut a lot of the brink of bankruptcy. The fight has been and Liu Yongxing Sanmenxia project control alumina industry boss - Aluminum Corporation of China has just announced the layoff of a million people to tide over the crisis. .

"The second half of the year, we grew heavy industry profits will be affected by a certain impact. However, the relationship between supply and demand will be re-established, aluminium prices will not drop without. Do not be afraid! when people Ltd, you have a small or micro-lesions. "Macro-control risk, compared to the market risk of recurring, yongxing coping very well. At the moment, the company added a salary, but also in the, "this time most easily filled. "He smiled. According to the reporter know, Shandong a discontinued aluminium's employees as together, switched to East hope.

Position is not arbitrary from the rainy day before. Thinking transition from 1996 to finalize the entry of heavy chemical industry, to the twists and turns of the macro-control in 2003 crisis, the various eventualities that might encounter, Liu Yongxing had prepared eight kinds of scenarios, from national policy to the trade cycle, some of them extreme. "Large area like this, the global economic crisis is totally unexpected. However, most previous assumptions are not escape. And so the suffering appears, will not be too anxious.". .

"Industry, it is luck, not your ability, but better than others: industry, we are not profitable, you need to profit; they lose a lot of time, you do not lose or owe very little to spend, but quickly at a low ebb. "To the above questions answered, conservative yongxing will stubbornly, relentlessly on doing it.

Opportunities before us seems to be very tempted - now looking door, eager to be acquired have 45, including power plants, alumina plant, aluminum plant, coal chemical plant. He painstakingly constructed are aluminum in the chain link. Moreover, to the very generous terms: asset can be compressed, asking price is very low, the loans can be long-term, "In the past several billion, 10 Jige Yi, and now tens of millions, a million can be taken over.". .

If you use the opportunity for industry consolidation, sought-after second major in a short time can quickly.

However, Liu Yongxing now a no fancy. "We have to be prudent. One is appropriate to retain the cash, after all, the economic crisis to last many years, we have not known; also have to research these companies: bring, it can not create our comparative advantage? Can not effectively to transform it? can not buy goods come in a number of garbage - must be a technical level, asset quality, good combination of resources, to transform it, to digest out of..

"Now is the time to expand very well. But maybe it is a trap that we cannot fall into a trap, and cannot be greedy, very, very cool. "Mouth repeatedly to" calm down "of the word, yongxing was silent for a moment, and oh..

Its principal operations. .

These years, he still did not give up its fortune early's feed industry. In fact, in the territory of East hope, this profit space increasingly rarefied profession, not only to provide all of the accumulated funds, but also for any financing of heavy chemical transport part of the "blood".

First half of 2008, the East want the same period last year, feed efficiency is 30% to 40%. Price reduction in the pig, chicken prices, a great impact on the domestic feed market, the "production is increasing, the cost is still down." Liu Yongxing all thanks to strict cost control. The so-called zero inventory, that is, to minimize raw material inventory levels, the average remained at 5-7 days, so this diet significantly lower prices, the impact of the East want to be very small. .

Fierce competition and overcapacity let yongxing the pace to abroad. At present, East hope in Viet Nam, six factories have been built, the unit profit is more than twice as many domestic, which makes him very happy. Next plan is to use 5-7 years in Southeast Asia to build 5-10 factories, the "first select and compare similar Chinese culture of South-East Asia, and then see if I can go to the CIS, and Africa. "" We can do the first in the country, why not do it first in the world. ” 。.

Since 2004, speculative rise, another wave of investment in the stock market and real estate hot in the rise of private entrepreneurs. East Hope is also scattered in shares of the Minsheng Bank, livelihood insurance, Bright Dairy, China Everbright Bank. .

Yongxing explicitly said that East hope will not enter the financial and real estate, will take a very small percentage of surplus funds to try to do some equity investment. "Waiting times of trouble, you can realize immediately. At that time, we do when you think of equity investment is — if only to heavy industry at risk when you can sell it. As a result, it is still useless. ” 。.

Financially conservative, in addition to personality factors, in part from frustration before. Liu Yongxing admits that in the late 1990s to the early 20th century, as eager to hand off to find a way out of funds, once took 10% to 30% of the money to try to do equity investment, there have been a lot of bad debt. For example, in 1999, commissioned by Shandong Tiantongzhengquan 50 million financial management, the final loss of 30 million. So he gradually withdraw from the loss of investment. .

Compared to younger Liu Yonghao in financial and real estate dominant, yongxing doesn't think he's more radical than ourselves: "he has some degree of risk than I was okay. My strengths are management, pay attention to the competitiveness of enterprises, with emphasis on endogenous development; he's strengths is the integration of resources, with the help of listing the endogenous development and external forces. Maybe he's going to be more clever than me. ” 。.

After ten years of struggling to explore, Liu Yongxing more clearly - what is suitable for him and hope for the future of the East road. .

The dream of industrialists.

Liu Yongxing most admired and has been studying the example of Taiwan's "god of business," Wang Yung-ching. .

The recent death of industrialists of Taiwan, for the operation of a shop, millet in the 1970s of Taiwan's economy and early stage venture into chemical industry makes a huge Empire of Formosa Plastics industry, almost to witness and participate in Taiwan from small agricultural economy to an industrial society of the whole process.

1996, China's most affluent families in this separation, early in hand to sell feed hundreds of millions of funds accumulated under, Liu Yongxing who have their own future and feeling of anxiety - such as slower growth after the feed industry, what to do ? "Over the years, I repeatedly thought, I thought I suited to the means of production-oriented enterprises. Look at their feed mill from a few dozen to a hundred people management, whether to control thousands of people, from a plant tens of millions of assets able to several billion, ten billion of assets. ". .

He became addicted to Wang Yung-ching and Formosa Plastics, once could find a friend to help links to free him when three years Assistant. Friends of dismissed the idea of him — "like you have ambition, they will be prepared. ” 。.

In fact, either from personal temperament or the pragmatic style of sound, even on living habits, can be found in Liu Yongxing and the "god of business," many similarities. Years may wrinkle the Liu Yongxing life very regular, very modest, to the office on time at 8 am, 5 leaving on time. Do chin-up every day, walking, climbing stairs, and swim. He does not play golf, not playing any new rich are popular gadgets, he unsociable entertainment. .

So wrapped up in their own development of personality and in business is "mainstream." Yongxing not worried about not getting the support of local officials. "Good social relations is very necessary. However,? — your business to be very good. I say bluntly, local government officials to work is to engage in corruption of officials, in addition to corruption, he had to work. Therefore, we are able to meet them – our performance, taxation, environmental protection, our social image. ” 。.

In fact, Liu Yongxing's temperament to a large extent influence the development of the Eastern path of hope. Because the mix of poor and bureaucracy, he finally give up access to real estate. "Real estate requires a lot of (insider) trading, need to keep on eating and drinking wine gifts." Huge sum of money needed to go heavy chemical inputs, but he has no listing plan, because it "would cost a lot of energy to run the SFC run The department, running the department. This and crooked on from very close. ". .

Devote in these is not a "quit your day job" thing, he was barely do not value. "People listing can get 100 billion, I used to do my own go slow!, I do not care! people are very cheap to get block places do billions, I slowly, can do billions. Now that simplify things, I also can do it, why should I be so complicated? "he slightly excited.

"This is the reason I adore Wang - he was down to business in! Very decent man. Our goal is to do a century enterprise, therefore, can not do certain things too much." In his heart, one can live a hundred years of business at least no less than thirty times to simulate the death scene. .

In the New Testament Gospels, Christ Jesus had long unto his disciples: "you have to enter the narrow door. Because that leads to destruction, but the door is wide, the road is great, go in person. But to heaven is narrow door, looking for people. ” 。.

Liu Yongxing seems to have found their own "narrow gate." .

This is him as the "five thousand years of difficult to meet, always do to willingly" era, he looked forward to the history of what "do an industrial entrepreneurs, not financial, nor is IT, rather than industrial. ” 。.

China's commercial capital and the choice of different paths. .

In the economic down-cycle, all kinds of financial enterprises suffer from the same big stomach trouble and they cannot control its own scale, ultimately hurt yourself or damage the upper and lower reaches of the related enterprises.

In the capital of the times, is stick to the operation of industrial capital, or in industrial operations for the embellishment, expanding the capital market? Is a difficult choice. .

In 2008, Forbes Chinese magnates first yongxing and second Huang guangyu, at the time of the Empire to entities operating as anyone, but the idea that two distinct entities operating mode.

Liu brothers, people can think of words that quails, feed, and Minsheng Bank; the Huang brothers, people think the word is: * ST Jintai, Zhongguancun, triple, home appliance chain giant, real estate. Liu brothers always hard-working, selling 80,000 chickens associated with the entrepreneurial stories, and Huang brothers and acquisitions, capital operation, carried the image of more financial capitalists closer. .

In fact, both brotherly or he has a brother, and entities of the sector's strengths, while brother of Gome Electrical Appliance sales monopoly, through the operation of capital markets to achieve wealth creation in the short term, but brotherly myth, not only feed group, aluminium, chemical fiber, investment companies, the shares of East hope Minsheng Bank, insurance, Everbright Bank and other financial institutions.

The difference is that, although the Liu brothers, seeking to become a banker, became the capital market speculators, but has never been a capital player, rarely manipulated ST Kim Tae-like monster, and no stretch of the upstream and downstream businesses account in order to clear damage to the way investors and manufacturers to seek their fortunes in the Great Leap Forward-style development. The Huang brothers, have become suspicious of financial and capital market manipulators, and in the process of rapid expansion of wealth, expanded rapidly, leading to cash flow tight, can not withstand any downward trend in the economic cycle. .

If the market incentive to indulge in favour of capital operation, China industry will dissociate himself suffered a great, if you do not understand the business capital, and gradually reduce the margins will be confronting entrepreneurs. In the capital times how to abide by the industry, can also be eliminated, the market for enterprise's correct incentive mechanism, the test is the wisdom of the Government and entrepreneurs.

Liu brothers: Industry is in operation. .

Yongxing consider themselves "normal normal, ordinary, see legendary" in 2001 for the economy and a half hours interview said that "our own characteristics are more suitable for industrial, now all expatriates industry, particularly contemptuous of traditional industries. Then we all despise me, I'll do it. Need someone to do business in a down-to-earth manner. "At that time, the layout of the Oriental hope group is" a manufacturing, feed, as well as our new industry will become the two leading products, while at the same time to make some investments, it is this investment group ".

Take a look at 2007's richest Liu Yongxing industrial layout. .

In 2007, yongxing East want to group the output value of nearly $ 30 billion. In its leading East hope industrial layout, the first main industry is still one of the feed, yongxing plans for three to five years in China and Southeast Asia were then built 50 feed factory. The second main industry is the heavy chemical industry, East hope in Shandong liaocheng, Inner Mongolia baotou invested electrolytic aluminum and electricity generation project in sanmenxia invested 2 million tons of alumina project, has invested in Chongqing with 60 million tons of PTA chemical project. The third main business is to invest in the shares of East hope, Minsheng Bank, insurance, Everbright Bank, Guangming dairy etc..

In 2002, Liu Yongxing started the second main layout, then the East wish to invest 10 billion, the second main ALUMINIUM massive Sharu integration projects. Objectively speaking, when the feed industry profit decline, Liu Yongxing had to open up the upstream and downstream industry chain, to reduce costs. This is not just Liu Yongxing, is also facing unprecedented competition for all the common choice for large enterprises - the new hope of feed business gross margin, by the 1999 peak of 18. .41% To 10% in 2005. .

Production base in baotou, large-scale investment in the construction of aluminum, alumina production, thermal power from to a electrolytic aluminum production chain, East want to feed one of lysine industry development. Auxiliary power plants either power of electrolytic aluminum production project, or for the production of l-lysine provides steam and electricity. Yongxing formed in the mind is a co-production of composite-electric electricity-lysine-feed in one of the industry chain.

Liu Yongxing way of thinking is the industrial capitalists, rather than financial capitalists way. In fact, as early as 1996, Liu Yongxing began secretly concerned about each of the heavy industry, automobiles, steel, oil, tires, paper, chemical ... ... all of his inspection tour, travel to see each time around the feed mill, he with other heavy tasks and ideas to find out the local energy, industry conditions, to avoid his first big business (he called "reach"), generally only to a small place to watch a local heavy industry enterprises, and technical staff to communicate, from the establishment concept, the tracking system began. .

Aluminum plant in Shandong built after the failure of the power plant for aluminium yongxing base three requirements, produce coal, the second has a vast land, water (environmental capacity), being met in the packet header. Since then, as with all private entrepreneur, running, running loans, get the NDRC approval, and the monopoly of State-owned aluminum Titans between aluminium, to be his top priority in your life. Yongxing rarely debt management, in order to enter the heavy chemical industry, he broke its own rules.

Liu Yongxing of the "car crazy" Mr. Li expressed his understanding and sympathy, made not think that Mr. Li is a "Don Quixote." Obviously, Liu Yongxing himself Don Quixote-like figure, big industrial capital after the business owners do not become Don Quixote, it means that path, and the spirit of entrepreneurship and the double decline. .

Best yongxing industrial capitalist characteristics, is his equity sold to financial institutions as industrial financing plan. Such as the sale of the group in cmbc, Guangming dairy companies, such as the introduction of the equity investment ... in brotherly serving East hope while also shares a Minsheng Bank, insurance, Everbright Bank, Guangming dairy, BBQ snack etc, but are not in one of the leading position, yongxing never give these companies as "own" the enterprise, but they are generally classified as "investment East hope plate"..

"Investment can be diversified, but not the main industry diversification", open up the upstream and downstream industry chain is to achieve lower costs. Taiwan god of business, has just died near Liu Yongxing Wang Yung-ching is an example. Liu Yongxing association in Minsheng Bank loans have also been accusations that, but in any case, the entrepreneur is the local business community worked hard to hope. He's low debt ratio so that he can withstand the harsh test of the economic down cycle. .

In contrast, Liu Yonghao more capitalist color — and listed companies, investment companies, is involved in finance, but also dabbles in real estate, but also the integration of the dairy enterprise, and a large amount of money into the "own" holding company. The main benefit from capital markets, the enterprise has the financial enterprise property.

Of course, are in business circles, but in fact is typical of financial capitalists, is none other than the non-Huang Guangyu. .

He also serves as the brothers: capital operation as in. ..

Huang is opening sales of home appliance chain store, but he actually is a financial expert, the wealth of the Road, Huang Guangyu, showing industrial capital and financial capital of the abnormal combination. Type of financial development that is the traditional mode of penetration into the financial sector industry, capital market. .

Started by Huang guangyu electric appliance chain-like, but some industry knowledge, never believe home appliance sales profitable cannot let him shortly become China's richest man, the profit to double every year. Huang guangyu by class of financial development model, that is, the power of the capital markets for excess profits, market fanaticism merger peer acts as a boss, after becoming a monopoly enterprises account period, pressure to win a few months and one year of cash flow.

Starting from November 19, Huang Guangyu of GOME head of the police to detain the news spread around, which is fatal for the country in terms of rumors that the United States, this type of financial companies lose their supply, lost, lost in the capital market played tricks capacity, the loss of the bank's loans, fate can be imagined. .

Although the effect is not yet confirmed, rumors have surfaced, Samsung Electronics headquarters has asked the company to cease the GOME suppliers. More household electrical appliance enterprises have lower Gome's credit rating, stop and GOME extended payment transactions, cash transactions, cash on delivery, in order to prevent possible losses.

According to the afternoon of 23 financial network reported that the investigation was triggered by Huang Guangyu was suspected of "market manipulation", specifically refers to the brother Huang Junqin holding stock manipulation * ST Tae. This charge is true, that the control class Huang Guangyu the fact that financial firms. In fact, the Huang brothers are in the hands of the States United States backdoor listing in Hong Kong, in the A-share market listing * ST Jintai, Zhongguancun, footprints all over the real estate, household appliances market, equity funds, etc. in the field. .

* ST jintai is a big yaogu, 2007 drawing for the increase plate 42 large shareholders crazy cash profits rise followed from August 31 ST, * seven consecutive jintai sigh of relief, but also into the retail package of "peak", * ST jintai become Wong brothers new Henderson Group meals.

Previously, Huang brothers have in the financial markets transaction. Huang brothers in 2006 known for its early years, the total 1.3 billion between the number of illegal loans by Ministry of Public Security formally opened investigations. According to reports, the official survey was, at least 13 billion problem loans in the Eagle and the new close flow between Henderson and eventually flows abroad, acting suspiciously. This go without. Looking to see the whole picture, capital and credit markets, Wong brothers and not one drop. .

The United States occupied by downstream manufacturers and funds. According to the data, listed companies, 000 in the report show that in the United States (including its acquisition of Beijing dazhong electronics) have a large amount of the receivables to be listed on the major home appliances has beauty, little Swan, KONKA, etc. Beautiful and little Swan in the United States account for more than 2 billion, nearly 90 million ST kelon, deep KONKA about 75 million. Once the US crisis, these profits scarce household electrical appliance enterprises will be dragged into the water.

The rapid expanding access to financial capital brother Yong Huang ultra-General of the expansion pattern, Zhezhong expansion is only for the uplink in Jing Ji Zhou Qi, information products Jiage rises effective Yidanjingji cycle downturn, cash flow Duanlie Jiukuaixingcheng domino after effect. .

This is the territory of the Empire he had already evident. To capture over the years in the capital markets for a total of 135 million cash in the cash, then to .5 billion cash 36. prices of major appliances; what to bid for the "rotten" triple trading companies, both before and after the two spent 6 .7 billion cash for. 19. .7 percent stake; Huang guangyu pengtai investment through its acquisition of a 15% stake in's Zhongguancun has 9. .1 billion blood transfusion, coupled with the United States, stock prices fell by two-thirds, the supplier has been exploited to the extreme, causing tension in the company's cash.

Huang Guangyu of Beijing's Eagle Land Holdings Limited backdoor listing plan was temporarily shelved, October 9, Bank of China International Gome substantially lower the rating from "Outperform" to reduce the "behind the market", target share price by 4. .50 Reduced to one dollar. HK .26. Gome day to close at 1. .18 Hong Kong dollar, to November 21 has fallen to 1. .12 Hong Kong dollar, 24-day suspension. .

In China's industrial enterprises, financial enterprise only us, telling holdings, youngor, including Haier, Baosteel has financial enterprise. While the company's capital is playing with the company's crumbling Empire, appears in the economic cycle, all of the following types of financial enterprises suffer from the same big stomach trouble, they could not control its own scale, ultimately hurt yourself or damage the upper and lower reaches of the related enterprises.

End. .

Sit back and watch the entity enterprise become capital market players on our market incentives, lead enterprise to non-entities, non-financial enterprise transformation of David. Such enterprises have no industry and keen to play with the investor gets huge profits, capital market as a powerful enterprise financing market.

Parties to change the incentive system error, so that China's Shitiqiye You Shengcun space, Shuishou for entities such as business and financial Fang Mian, Touzi different treatment to businesses, so most coveted financial windfall of corporate return Shiyegenben. .

You know, China's financial enterprises and those classes cannot become intellectually comprehensive development expert, is the use of inside information and financial advantages to disturb the market. Such enterprises, China more prosperous manufacturing entities, so that all entities from the financial press get minimum profit space, such as manufacturing to China household electrical appliances on the right track.

We can not remember the original well-being. .

To capture this "accident", people would not have to remember anything, because the speed and expansion for human temptation is irresistible.

It is vastly different definitions of happiness, and often change with time. But in the beginning, may be similar. .

"Something" to capture the news of late, a few friends is a tea. All emotion, one of whom said: "it's a shame. I wish I had a billion, soon to go home. What this? "this I believe, I believe that his true thoughts here and now — if only the 17-year-old company's hearing will probably agree, chances are he will say:" earn enough 100 million I went home. ” 。.

I'm not a Huang Guangyu, but I am sure his imagination and his contemporaries compared to people who are not essentially different. In 1986, he and his brother came to Beijing Chuang world, emptying clothes off clothes, but also thought about doing food business, and finally chose to sell the line appliances. And then numerous "self-employed" the same, in order to survive, what money do. .

The same situation, is also found in hope that the curricula vitae of the brotherly group. In 1982, yongxing, and three brothers, re-joining, chicken, quail, in 1986, is founder of the "hope that scientific research Institute", decided to do feed.

"What is to improve life, where others want." In 2001, Liu Yongxing becoming the "richest man in Forbes," says when the same words, to become richest man in 2004 when Huang Guangyu said. The great thing about this era is that it provides a far more significant than first thought, and rich beyond the possibility. .

However, the imagination is obviously not decided life encounters, otherwise everyone made a fortune, especially in the present age of the imagine the explosion.

What determines your success? This question, I in 2001 and 2004 asked Liu Yongxing and Huang Guangyu. .

, Adhere to the "focus", true, both use the word. In particular, Huang guangyu, he said, "go home, I'm not the biggest, not the most intelligent, but persist in most of the time. They are all gone, or died, and finally got me. ” 。.

They tell the truth, it does not mean all. Because, according to Drucker's statement, there is no such thing as success. Life is a process, and all the "success" but is a mirror for self-Kam, until one day, we see tremendous and aging. .

Kids love to laugh, because happiness is the most important of them. Today's problem is that happiness is equivalent to succeed, then equated wealth.

Unfortunately, I have not the happiness to ask this question to Wong Kwong Yu, Liu Yongxing, but remember the answer: "the beginning, is some better life. Now, do a hundred companies, so that more number of people to live well." Although the levels are not low these words, sounds, and "doing a socially useful person" is not too different - I believe can be even more exciting Huang Guangyu. .

The most difficult, in unity. In particular, has become the richest variety of resources to start under the spotlight when they gathered.

They are brave, resolute, and good at learning. This is the era of great opportunity for them to come to the fore under the major reason. However, as richest man after the two men was significantly different growth trajectories. .

"His eyes become deep, but which spelled death, heavier and arrogance" close to the company's people. Many people remember the image of his bald head, eyes reveal "researchers". In 2004, the young Huang guangyu to total cost ?2000? billions in the acquisition of the Yongle appliances, large and medium-sized appliances and triple companies become the domestic appliance retail undisputed supremacy, and was once the main competitor to invited suning appliance to merge, 1 pm in the limelight. "A chance to attack," and "rule of thirds is doing," and "to do the biggest", this is his classic discourse, his idol is Li Ka-shing.

In contrast, Liu Yongxing much more low-key conservative. "He's like a farmer, walking the streets, did not know he was Gansha" and the people close to Liu Yongxing says. In 2003, he examined the 7 years of the second main industry "aluminum" project launched, then misfortune macro-control, the project forced to stop. "Fortunately we did not vote a penny into the 2 billion of bank loans, slow to slow, there is always the opportunity up," his idol is Wang Yung-ching. .

Company's pursuit of a "fast", so he put special emphasis on the integration of resources, outwards. Yongxing after is "long", so he put special emphasis on the management and optimization, in development. This difference in business strategy or performance to their behaviour: Huang guangyu with government officials, as well as capital market communication close, but active yongxing-when Huang guangyu with many bodyguards to attend "Boao Forum for young leaders", yongxing with his Secretary Office building in climbing stairs.

Can be said that they are in practice by action of their ideals. Their actions are different due to their different understanding of the world. In Huang Guangyu, since the world is full of endless possibilities, why do not you try? And based on the social history of the long-term observation, Liu Yongxing be much more pessimistic. .

Cannot capture the "accident", "faster" is not good, because this is the mainstream of today's world. In a sense, the choice was to capture more in line with the "higher, faster, stronger". Even as some predicted, "this is very difficult to cross the border," I don't think people will remember something, because the speed and expansion for human temptation is irresistible. As regards yongxing, his calmness and self-control are respectable, if only because most people cannot learn.

Milan Kundera in his novel "slow" the end wrote: Tomorrow will not come, the audience no longer. I would invite you to be a happy man. And I vaguely feel that our only hope depends on whether you have the ability to be a happy man. .

I suspect that if we can slow down a bit, perhaps you can remember about happiness first thought, probably will become happy. The banking industry have a joke: If you owe the Bank $, that will kill your Bank press for payment; if you owe the Bank 10 billion, that when you are having problems with Bank will distribute a bodyguard and accompany you, lest you die, ran, accounts, and even may lend you any more money, help you pull through.


Today, this crisis is sweeping the world is this: the technical level is long overdue bankrupt the United States owes other countries as too much debt, and creditors do not want to see the United States due to bankruptcy, not only can not abandon the U.S. Treasury, etc. and even the United States must continue to buy more debt in order to ensure that the U.S. is not bankrupt. .


Of course, in addition to the financial aspects, the root cause of a situation or in the past 60 years, the US dollar in international trade and monetary system has always played a special role "," and thus contributed to and now it seems inconceivable that the u.s. debt economy mode.


Nevertheless, as George Soros said the United States ended 60 years of bull market. .


However, people are still confused. This is what a subprime crisis?? the American financial crisis? dollar crisis? American crisis?? the global financial crisis, why the crisis will instantly across the global? hand to aid the United States if global, the result will be ....


Why is the U.S. debt economy more harm ourselves. .


Insolvency – from the technical level, the u.s. has gone bankrupt.


How much debt owed the United States in the end? . .


In accordance with u.s. disclosure, 8500 billion financial rescue plan fully implemented, the US Congress on behalf of the national debt is 11. .2 trillion, relative to the United States 13. .8 trillion GDP, u.s. debt rate is 81. .16% (total debt to GDP ratio and a debt ratio), more than 60% — an internationally recognized security debt rate. Although, this is not the same as Japan, the United Kingdom and other countries more than 100% of the debt ratio compared to doesn't seem to. However, this is not America's true debt.


According to the U.S. Government Accountability Office (Government Accountability Office) before the Auditor-General, Foundation President and CEO American 彼特皮特森 David Walker's estimation, if the U.S. government to default in payment of the national social security and all other hidden debt all together, then, in 2007 the United States, the actual total debt up to 53 trillion. .


53 trillion what concept? if you 100 dollars a stack of notes, 53 trillion to orbit the Earth for two weeks; in 2007, the world's GDP is 54. .3 trillion, this means that only the United States national debt, has made global debt rate close to 100%; this figure is equivalent to every American who shoulder a $ 17. .5 million of debt, if the average is assigned to all the people on Earth who will share $ 9000.


This also is not that much. If we like the "two housing bonds," as mortgage bonds issued by major United States consortium, can not tell the company's debt or government debt and municipal bonds, etc. - a total of 20 trillion U.S. dollars (end of 2007, the U.S. Treasury SIFMA Statistical Association ) debt statistics come again, that the U.S. debt is a whopping 73 trillion U.S. dollars. .


According to the 2007 fair market prices for all assets in the United States had a total market capitalisation of approximately 76 trillion, and now the market value has shrunk by more than 30% — up to 50 trillion.


Thus, 73 trillion debt, 50 trillion in assets, means that the U.S. has been insolvent; while this financial situation, into any other country, long overdue in this country bankrupt. .


However, why doesn't the United States bankruptcy?.


One of the most important reason: the dollar's special status in international settlement, it makes other countries have too much in U.S. debt. U.S. financial crisis, creditors can not let the United States bankruptcy or insolvency of certain creditors themselves would result. In other words, the dollar and U.S. debt have been kidnapped in the world. .


Therefore, the nature of this crisis is not a general sense of the financial crisis, but the US debt economy mode (Note: Alan Greenspan in 2004 for the first time, use this word) walked to the end of the crisis, the United States "die and die" crisis of confidence, is the second time the dollar crisis. "The subprime mortgage crisis," but was technically the bankruptcy of the United States, has had a chance, a bankrupt or fuses..


Can say with certainty that the moment of this unprecedented rescue, not so much in the rescue of financial markets, as it is to save dollars. The United States needs the world to restore confidence in the dollar, or, when the world abandoned the dollar, the date of the U.S. bankruptcy. .


Debt economy mode – "American myth" is created.


"Vietnam War" caused by U.S. budget deficit and trade deficit (Note: the first time the United States monthly trade deficit in May 1971), to the disintegration of the Bretton Woods system. Earlier, the U.S. "twin deficits" that European countries no longer trust U.S. dollars, while a large scale in U.S. dollars in exchange for gold, which forced the then U.S. President Richard Nixon abolished the Bretton Woods system of 35 U.S. dollars and 1 ounce of gold convertible agreement. Thus, triggering the first time in the history of the Dollar Crisis. The crisis gave its world miserable. .


The United States to repudiate such "over the table," and other countries and it asked, why is no one country's currency has the ability to replace the dollar in the international settlement system in the central position of the play; more importantly, Dr. Kissinger, successful lobbying "OPEC", the US dollar as the only international oil markets and currency of the price, which makes the Bretton Woods system established by the US dollar position not only has not been moved instead let us release lost gold of constraints and become more secure.


The disintegration of the Bretton Woods system, 70 years after the 20th century, the two oil crises jostling throng. In this process, the sharp rise in oil prices to world demand for dollars increased substantially. It is from this point onwards, when he was Fed chairman Paul Volcker to abandon the dollar money supply control, and use interest rates as monetary instruments of macroeconomic regulation and control. Since then, the United States printing press began operating at full capacity, continuous flow of seigniorage the United States dollar-denominated debt has followed a sudden expansion - a model for the U.S. economy off the debt. .


The so-called debt economy mode, nutshell is that the United States no longer need to general industrial enterprises, in addition to the non-food consumer and general industrial equipment, other items are purchased from the international market, and to the output of the world; other countries $ to the smooth conduct of international trade settlement, had to hold a significant number of dollar reserves; to $ revalution reserves, these countries also have to purchase US Treasury bonds or other so-called security dollar assets.


Therefore, in the world formed a circle: the U.S. needs, we just print money to foreign countries to buy it wants; U.S. dollar spent to buy things, through the sale of U.S. debt (government bonds or corporate bonds) to return to the United States home, into the United States Government or the company can dominate any of cash; the cash was used in the United States, that they have the ability to consume those who bought something from abroad; U.S. businessman by selling foreign goods in the local earned income and then continue to buy the goods of other countries. .


So here, as long as the dollar's status as an international currency is never down, foreign Government always necessary dollar reserves us debt will never have to pay back. In theory, is "simply" coupon, not debt-debt, but also will not have to pay interest because of inflation or depreciation of the dollar will erode away interest rate.


In addition, as long as the increasing international trade, the dollar debt will subsequently increasing, this will create economic growth in the United States. .


We'll look at another way, when the "sovereignty" currency "becomes" credit-standard "credit currency" itself is a "sovereign debt" symbol. Accordingly, the United States without USD currency, in fact, is infinitely issuing debt. From this point, the US dollar and US Treasury bonds between mere differences in liquidity, the dollar purchase of US Treasuries gained interest, just to abandon monetary liquidity of compensation.


Twice breaking the U.S. Greenspan said the debt economy: "the United States to increase debt capacity is a function of globalization, as significantly increased debt capacity and cost reductions and the increasing scope of international financial Zaiti solidarity.." .


This, of course, to the United States has enormous benefits: no need to engage in production and can be much higher than other countries ' economic efficiency. For example, currency, for the United States, to spend money to buy foreign goods, this is a sum of money for the first time you use; bonds and the money back into Government or corporate debt, and then take it out. This amounts to a sum of money to be used twice. But for trade partners, the US dollar gained and lend us a little bit on their own in addition to the interest income, and nothing more, efficiency almost to zero.


Can be seen under the conditions of economic globalization, increasing debt capacity and actually has become an obligation of the United States on the world - a way to reap without sowing the economy. From the judge, economic globalization De Ling Jie Shi is one kind: outside the United States by all countries need to earn to pay U.S. dollar resources and labor Qu, Er Zhi Yao India United States dollars (Faxing debt) on Keyigoumai Shijie. .


Economic shell: fostering economic growth in the United States big bubbles.


Now you can exchange for money by issuing all necessary, that the United States is also necessary to produce their own general merchandise? If the U.S. general merchandise completely self-sufficient, then why should the United States import? Not imported, the dollar has become a channel through which other countries reserve currency? Dollars can not be the reserve currency of other countries, the United States and how to benefit from the currency in other countries, how to ensure the smooth conduct of trade? . .


It is precisely this reason, the United States has become the world's most exceptional economy. It makes its own trade deficit had become inevitable requirements in other countries — the United States must be in the international market purchases, which led to the massive trade deficit, meet other States dollar reserves; at the same time, the u.s. budget deficit has become a necessity in other countries — the United States release large amounts of national debt, for other countries, the US dollar reserves.


To accomplish such a debt cycle mode of the economy, the U.S. must produce goods of industrial enterprises out of general United States, which is completed in 1971 to 20 years in 1991. .


Twice during the oil crisis, due to the number of times the price of oil going up, makes us General commodity production enterprise overwhelmed, on the one hand, the substantial increase in production costs, on the other hand, inflation erodes national consumption capacity. Bi-directional, making a profit squeeze dwindling.


This also is not, in the second oil crisis, when oil prices to industrial enterprises overwhelmed when Carter accepted the Thatcher has been advocating the "neoliberalism" doctrine, the four functions of monetary policy reduced to a single pegged to inflation. .


Especially after President Ronald Reagan's successor, to suppress the oil crisis caused by inflation, then Federal Reserve Chairman Paul Volcker ·, 1980, under the auspices of the 3-month interest rate cap controls were abolished, and thereafter in a few short weeks, US interest rates were rising to 20%, and high up to five years. This is the international financial history of the famous "the financial shock therapy".


Energy costs, financial costs are soaring, coupled with the shrinking of consumption, the United States some of the general collapse of commodity producers, and some will join the U.S. in the 20th century half of the 80's ever occurred in a corporate merger, reorganization, acquisition binge. At that time, industrial enterprises actually become a Wall Street financier in the hands of the doll and money-making tools. .


The Wall Street Journal popular phrase: small is beautiful. At that time, the large company was financer acquires after the Confederation be disassembled into several small companies, and each company will be engaged in "financial operation", and then put these wrappers pretty small company sold to people who need them.


Financiers such as financial skills by making a lot of money, they even invented a "junk debt" and a series of leveraged financial instruments, making mergers, acquisitions in the United States from 1979 to 1985, 6 years, reached a frenzied level, but also cultivate the Bosque (Note: the movie "Wall Street" of the protagonist) as the financial robber, and not tell a hero or a villain in the "junk bond king" 麦克米尔肯. .


Across the era, the United States industrial enterprises, only such as GE that several giant still alive, but they also have a greater tendency to finance. In 2007, GE's automobile sales and profits by 50% from auto finance sector.


"Financial shock therapy" of another product of the U.S. dollar's appreciation, which on the one hand prevents the United States industrial enterprises exported goods, on the other hand to U.S. businesses and create favorable conditions for foreign investment, thereby promoting the consumer goods industry, started the big shift to Asia, Asian countries, particularly China and Southeast Asia began to keen on processing trade, export-oriented economy, but also become a new economic growth. Global economic integration of preaching this loud and clear. .


Round large transfer is complete, the American economic momentum left?.


Financial, high-tech and military industry into the steadfastness of the U.S. economy. In addition, almost all are for general commodity production in Europe and Asia. Today, we in the international market, it is difficult to find labeled "MADE IN USA" general commodities. In fact, in addition to financial technology and difficult to immediately translate into high productivity Huo Yi Wai popular consumer goods, the U.S. real economy the international market, Shang has Shiqu the competitiveness instead of yes Buduan Maoyi swelling deficit. To the end of September 2007, total U.S. trade deficit totaled 6. .44 Trillion. .


This is the current status of the American economy: from the 1990s to the present, a total of u.s. GDP has increased by 4 million billion, of which the manufacturing industry is less than 10%; manufacturing in GDP accounted for 1990 to 24 per cent to the current 18%. But when it comes to manufacturing investment is small, only 2 2006. .7 percent, investment for the price of a 2. .1%. Even the best allows us proud of information technology and computer hardware production, at present, the annual investment in GDP ratio remains in occupies less than 1%. In contrast, services in the United States GDP share is as high as 80%.


Thus, the U.S. debt economy is every inch a shell economy, a ballooning debt to rely on to drive economic growth in large bubbles, one in which all economic theories are difficult to apply and interpret the "economic monster." By American scholars Andesenwei payments projections, each won 1 U.S. dollar GDP, have to rely on new debt of more than 5 dollars. .


"Debtor" people — gap, and rapid expansion of consumer credit.


U.S. rich? It was certainly better than most countries in the world are rich, but people who implement the U.S., we will see another conclusion. .


Let's look at a group of data: from 1971 to 2007, the average wage in the United States enterprises from $ 17. .6 to 10 dollars; in the same period, the US business executives and regular employees, wage gaps, from 1 to 40: 357: 1; in the same period, the American public's consumer credit expansion from 1200 billion to .5 billion 2.; 2007 u.s. real estate mortgage market size 11. .5 trillion, equivalent to 83% of GDP.


Such a set of data tell us? . .


First, it shows the income levels of the u.s. population in absolute decline and fall is $ 17. .6 to $ 10. Because the average hourly wage of $ 10, a few senior managers took part more and more, General employee get less and less — income polarization.


Second, as we often see in American media as: annual salary is now in the United States to find a possibility of 50 thousand U.S. dollars of work has been very small, the U.S. middle class is shrinking dramatically; In addition, the U.S. unemployment rate continues rose, while the government can provide jobs for low-paid jobs are mostly temporary. .


So, what the American people to maintain their standard of living? the answer is simple: borrowing!.


This is the consumer credit over the past decade the rapid expansion of the main reasons the United States. U.S. general public debt (debt plus housing, consumer debt) totaled 14 trillion U.S. dollars, equivalent to 101% of GDP on average 70,000 yuan per U.S. dollar, which is the highest burden of low-income people. .


In fact, after 1990, the United States had enjoyed high income senior engineers and technical workers, now has a large number of attendants, reduced to a commercial financial institution salesman, sales counters, even diverted into human health and the various volunteer, this is the service sector occupy GDP80% of the u.s. economy can provide the community with the largest number of jobs.


And back to a point, stimulate economic growth troika - investment, consumption and net exports. Then, hollow can rely on to pull the U.S. economy? . .


Huge trade deficit, which obviously makes the net exports of stimulating the economy to a negative value, and then look at investment, as mentioned above, the u.s. manufacturing investment growth rate in 2006, only 2%, the investment of .7. is equivalent to the GDP of .1% 2., so more rely on financial investments, which makes us everyday need 40 billion capital inflows, and mechanisms to guarantee the debt cycle these large capital inflows, but only balance trade deficit, and pull the u.s. economic growth is the consumer. In 2007, GDP growth in the United States consumer on the contribution of up to 72%.


The problem came. The American people the absolute income decreases, but the United States has to rely on ever-increasing consumption to spur economic growth, which is obviously contradictory. How do? The U.S. government's approach is to: further financial deregulation. Lend money to people who had not qualified to borrow money to spend, so that those who had not qualified to buy a house to buy houses, this is a series of sub-prime mortgage loans and its derivatives appear historical background. .


Learn about the background, it's not surprising why Greenspan at 8 April 2005 the Fed's fourth annual Community Affairs Research Conference, US subprime mortgages from the early 1990s the growth of 1% to 10% in 2005. In his view, this is the American financial technology advancement and a major achievement, creating a substantial expansion of consumer credit economic miracle. However, this miracle in the Fed started to rise in interest rates, real estate prices started falling becomes a mirage, more frightening is that the "subprime" detonate dollar crisis of detonators.


October 23, 2008, "The Wall Street Journal" reported that: The United States will have 1200 million people will be bankrupt because of falling house prices, the total for the room's 1 / 6. .


Crisis is the rule – the u.s. crisis to global disaster.


The second dollar crisis in the global outbreak was derided economists Greenspan junk dollars. But everyone knows, the Greenspan era of the United States - a country can only rely on credit, business credit and consumer credit continued expansion and promote economic growth in the United States, can bring to the world, the cycle must be a bubble economy. Because of the dominance by the financial markets, international trade, the dollar initiative by big money, easy money and promote economic growth the United States, the best way is to continually create a bubble. .


Thus, for other countries, as long as the market is fully open, fully in line with international standards (USA) (with the same market rules), that the market will be drowned, and finally the US dollar foreign exchange reserves — by all countries as the wealth, the accumulation of years of hard, not only in the US dollar price rises were stayed dry crash, even less so for the next national bankruptcy debt ass.


In 2004, the resignation of Alan Greenspan changed the style of the past, obscure and clear that in present circumstances, can only be repeated, again and again to continue to lower interest rates, debt to maintain the U.S. economy, the United States only by means of new bubble. .


Gelao said this "new bubble", there is no doubt that today we can see, the excessive credit under the support of the nature of the real estate bubble — is the financial bubble — subprime mortgage loans and its various derivatives bubble. But now it has vanished, but is likely to push the United States that "the economic Monster" good day to end.


In fact, even greater than in the U.S. real estate bubble. Fiscal deficits accumulated over the years constitute a "financial bubble", the trade deficit accumulated over the years constitute a "trade bubble", but add up by their convergence with the U.S. "debt bubble"; in this crisis we can see that the "rating bubble ", can be seen as result of the financial system, inflated profits of listed companies of" price bubbles ", as well as the national over-consumption caused by the" mortgage bubble "and so on. Intersection of all bubbles eventually became the "dollar bubble." .


The United States a special kind of economic models and others and ourselves, but in General: harming small and others. Include this field surface is the United States, but is actually a "global second dollar crisis" disaster, who the most unlucky? now also don't know, but in fact it has been shown that the world is to pay for this and other countries outside the United States pay the total amount has far exceeded the United States; the facts also tells us that the crisis in the US dollar relative to the appreciation of the euro, the European economy in crisis, the damage may be greater than in the United States; the facts will further show that many developing countries will be on the brink of bankruptcy.


Of course, the reckoning is now too early to say who wins, but it is certain this is going through De Wei Jisuo to the world of suffering, whether a breadth Haishishenduo, Du 将 far more than at any other time, including the first U.S. dollar crisis Yiji global economy after the 1929 Great Depression. .


Cut of meat knife slowly — Greenspan "line rider", Ben Bernanke, pokes foam.


U.S. dollar bubble of the first solution is: keep the dollar, slow depreciation. .


2000 network bubbles, the Fed began to cut, let us continue on the road from the depreciation of the hyperinflation of shadow began hanging around the globe. In fact, dollar for dollar reserves of power, the cut of meat knife "slow" – unknowingly let accumulated wealth "," US dollar lost purchasing power in the past, and the United States just skip this.


However, the dollar will inevitably lead to other serious consequences: the world do not want to hold dollar reserves, and even sell dollars, and if so, the dollar will collapse; if other countries abandon the dollar as an international settlement currency, will lead the U.S. debt economy pattern collapse and eventually go bankrupt. .


Greenspan should have seen this kind of risk, but he is powerless to change. The State of mind, his speech are often contradictory. If the 13 January 2004, Berlin, Germany, EU, Greenspan said, the threat of the dollar, the euro appreciation would ultimately enables the European economy is in recession. He even highlighted the US current account deficit is not a problem, but the "dollars to support America's debt, in essence, you can increase the capacity of the debt in the United States."


The remarks seemed to say "should not be devalued dollar," but is the same speech he said that if the U.S. current account deficit continues to grow, the United States "will at some point in the future be adjusted to reduce or possible reversal" foreign investor demand for U.S. debt - which in practice is that dollar depreciation is inevitable, sooner or later. .


According to the American scholar, Greenspan only "line rider". He hoped that through the falling dollar in order to reduce the debt burden in the United States, and must ensure that the dollar will not cause the world to sell a lot of US dollar assets. Because if you put all the foam in the United States, inflationary pressures together into consideration, that the u.s. economy is all the more serious of a vulnerability.


To resolve the rising inflationary pressures, strengthening the confidence of the world against the U.S. dollar, which requires the Fed set interest rates too low, but high interest rates and easy to lead the U.S. dollar, increasing U.S. debt burden, and even pierce the growing domestic real estate foam; that lower interest rates work? No good. Although it can keep the real estate bubble, will reduce the debt burden, but inflationary pressures, the world confidence in the dollar will be affected. .


This shows the Fed's hard. Perhaps only with Alan Greenspan is obscure is not clear language to express their wishes, with a careful weighing of the monetary policy meeting, whenever possible, avoid the occurrence of extreme situations. However, this wire?.


Bernanke took over, the U.S. dollar interest rate of rise accelerated. In 2007, the last rate hike before Bernanke Greenspan warned, he thought, would greatly trouble the U.S. economy, but Bernanke did not hear, when he put the interest rate rose to 5. .5%, The U.S. economic bubble burst has been irreversible. .


This blame Ben Bernanke? I'm afraid I can't! is the so-called "Rome, in a day".


The euro was born in 2000, the world of another type of alternative to the dollar as international reserve currency, an economy of scale can contend with the U.S. economic zone. This is no doubt the dollar's position in the international settlement system had been seriously challenged. .


In 2003, Warren · BA fette himself began to hold foreign currency — the euro dollar buying thrown the position increased to EUR 200 billion.


Not just China Lunbafeite, according to "Financial Times" basis, as of October 2006, the global circulation of euro banknotes worth more than dollars, up 610 billion euros; International Monetary Fund (IMF), the latest Statistics show that the fourth quarter of 2007, the dollar's share of global foreign exchange reserves fell to the lowest level in 8 years; the same time, the euro reserves increased substantially from 0% to 25. .8%. China Lunbafeite said: "If the current account deficit continues, then the next 5 to 10 years, the dollar will continue to depreciate.". .


In 2007, the dollar really started to accelerates, the typical characteristics of a currency crisis, let us come tumbling down, and the subprime mortgage crisis into "overwhelming camel last straw". Cut of meat knife "slow" probably evolved into "Gordian knot" — the current world economic system is overturning, falling into absolute chaos.


How the United States do? The world how to do? . .


To save the property market, the stock market, Forex market, the Bank, saving the industry ... the economic aspects of almost all you need to save, but all countries not only to ourselves but also help us to save. But we must see clearly that the final results of the lifeboat, maybe just get the American economy "to go" on the wire.


Ourselves more harm - whether the U.S. crisis in the world, "dragged into the water." .


Let's save the dollar's second Resort: suppress other economies, together with the United States to its downfall. This means that if the crisis that other economies suffered a serious blow more than in the United States, although the US dollar devaluation, but as long as the euro, Yen, GBP and other currencies, more than a dollar, then from the exchange rate, US dollar relative to other currencies still appreciate, could retain the confidence of the world against the US dollar.


Euro is the case. Since 2000, the depreciation of the dollar, and the subsequent war in Iraq, has given way to Europe in the global surge in commodity prices had enough suffering. Not only there is no uniform euro area fiscal policy and a unified administrative capacity, and countries in the region in order to maintain the balance of interests, they also have on the country's budget deficit, trade deficit and other economic indicators of the implementation of mandatory, which makes the euro area in the "capital growth , control inflation, "capacity was severely constrained. .


As a result of the eurozone in the dollar, the euro's appreciation, on the one hand by the depreciation of the dollar has resulted in the elevation of inflation in the euro area, the cost of goods on their own consumption; on the other hand, the euro appreciation in the euro area to depress u.s. exports, making the euro area economy is going from bad to worse. Today, the dollar crisis came again, which makes the euro appreciation in the euro area during the accumulation of a large number of American financial investment suddenly turned into a bad debt, financial institutions liquidity under serious threat, or even bankruptcy.


This is the reality of the euro area economy, the financial situation a little better than the U.S., but not sufficient means to rescue the economy - through the so-called "worse" pain. This is not depreciated dollar crisis has risen, while the euro instead of rising, the reason for devaluation. .


Of course, this is America's most want to see. If the euro zone, Japan and other major economies out of recession is more serious than the United States, that would mean the dollar continue to have a strong position in the United States debt economy mode allows you to continue the reform of the United States or economic structural changes to win valuable time.


How China responds to U.S. crisis. .


Certainly, China's economic situation now is much better than in the United States, there is no reason in the United States. However, if not carefully handle various issues, not adjusted accordingly, China economic risk also increases, or even translate into social instability, and ultimately to is in a crucial period of China's social and economic development hurts.


China's response - to strengthen confidence-adjusted investment strategy. .


Of course, China is a lot of favorable conditions, but this is not only to make good use of and, more importantly, requires efficient use.


1, by reversing the nation's stock and property market is expected to strengthen confidence. "Confidence is more important than gold," Premier Wen Jiabao said recently in a classic American made, he point out the essential characteristics of the market economy: confidence in the economy. .


However, this confidence is not just the Government's confidence is the confidence of the citizens. That is, the more confident, more investment, more consumption, the economy will be increasingly better — this is a virtuous circle; on the contrary, lack of confidence, the less investment, less consumption, the economy will be worse – so will the vicious circle.


Must be clear that the current Chinese economy is hovering in a watershed, a variety of statistical economic data show that the economic prospects of the Chinese people expected (confidence) is moving toward the negative, it is very easy for the Chinese economy into a vicious circle, this is very much afraid to do. .


At the same time need to see, on national confidence to suppress the most direct and most serious, is the stock market and property market disarray, but rather to restore national confidence to start with these two markets. This is the most efficient means. From now on policies, Central, and has taken appropriate measures.


Second, the best financial investments completed by the Social Security Fund. In terms of the current economic situation, through financial investment to stimulate economic growth imperative. However, the risk should be part of the small gain stability - the best financial investment projects completed by the Social Security Fund, as much as possible to reduce direct government investment. .


The benefits are many. First, truly reflects the Chinese Government is the Government's basic features, further to win the support of the people, to consolidate the authority of the party; Secondly, to give the best items to the social security fund, is the transportation interests, avoid competing interest groups; and thirdly, a lot of money into the social security accounts, you can significantly reduce the effective national worries, intensify their consumer wishes and risk preference; fourth, it can make government investment projects with legal entities to reduce investment costs, enhance investment efficiency; fifth, the same for the Government investment stimulates economic purpose.


Third, the money transferred into the treasury from the central bank bills come. China has managed to achieve a balance of government bonds, but in view of the past five years, a substantial increase in revenues, the fiscal surplus, which is why no need to short-term treasury bonds issued for transfers of financial income and expenditure, so that the central bank open market operations, the central bank had to issue a large number of notes, the stock market has been up to around 4 trillion yuan. The central bank bills is the essence of the national debt, but not to be included in the balance of government bonds only, but an annual interest payment, the same as in need of financial overhead. This is an idle financial resources. .


Therefore, as long as these Central Bank bills equivalent converted to the appropriate period of public debt, here you have at least 1 billion yuan of "settling funds" — never simply servicing without repayment; fiscal this 1 billion funding for Social Security Fund, the remaining debt management, Bank income delegate and open market operations.


Of course, you can also use short-term treasury bonds and central bank bills parallel way, so that the central bank open market operations efficiency and flexibility of likening the impact of financial needs. .


The advantage is that, although the financial investment, but China's debt ratio does not actually increase.


4, requires immediate comprehensive review of the issue of opening up the capital account. The Asian financial crisis, China's capital account is not completely open for the first time to save China; today, or because the capital account is not completely open, the second to China to avoid the severe impact of the financial crisis. Therefore, we need to be more serious and prudent manner to face the opening up of capital account must be clear, the current conditions in China have fully open capital accounts, opening up what is a prerequisite. To avoid possible future over-exploitation, increasing the risk of the Chinese economy. .


5. Let foreign exchange reserves into the Chinese themselves. In view of the US Treasury bonds liquidity has been significantly reduced, so now with foreign exchange reserves continued purchase of US Treasury bonds will be the worst choice. The buy to buy back to Chinese companies, banks, foreign-issued in dollars or dollar denominated assets.


Most of these assets have been severely Cuosha market panic, but this time the Chinese government intervened to buy back the shares, to the risk of a substantial future benefits less the second, to encourage the foreign investors confidence in China's capital, three years boost the international status of China's capital, four years for Chinese enterprises to create favorable conditions for the acquisition of assets abroad. .


The key is to liquidity problems. But now, where is the international mobility of assets?, now that liquidity is not good, it is a logical place to buy your own assets, on the one hand and, on the other hand, controllability and strong domestic with flexible latitude Tai, these high-quality assets in the future is a blend of high-quality collateral cash. Third, as opposed to 1. .9 trillion in foreign reserves, $ 1000 to $ 2000 less liquidity is not a big problem.


Hong Kong crisis and the machine - do not take back the Asian Wall Street capital markets pricing doll. .


If we see this financial crisis is the fundamental nature of the "second dollar crisis" is 60 years of the United States accumulated trade foam, financial bubbles, debt bubble, industrial, financial, real estate bubble, foam and foam consumption ratings, and more — all foam of eruptions, total liquidation, then we should recognize that the depreciation of the dollar and the Wall Street stock market declines, would not be a short-term trend can be closed.


So, A shares Ye Hao, Hong Kong stocks worth mentioning, it is no reason ever to be dragged down Wall Street. .


But the past facts tell us that clever speculators use international financial situation, and once again become a "slow ATM". But in 1997, a ruthless acquisition of isolationism, Hong, Kong Hui implementation is "malicious and gentle" to the Hong Kong Monetary Authority did not feel too much pain, but give the false impression of market activity.


By Wall Street played in the hands of H shares, has now been terrible, and many stocks have price-earnings ratio of less than 1 times. Meanwhile, H shares are malicious underestimated, and constitutes a strong suppression of A shares. Almost every major investment bank lowered H rating, will be reflected in the A shares. .


For this reason, July 3, 2008 "A vocal writer shares bane in Hong Kong." However, both regret and gratifying is that until today, the Hong Kong Monetary Authority is just beginning to adopt certain measures, while mainland managers already aware of the seriousness of the problem.


However, recent market trends, the situation is changing in a good direction. Direct evidence that the Hong Kong stock is trying to get rid of Wall Street, out of the independent market. Of course, is still only a relatively weak signs of sustainability? Hard to say, but worth the wait. Because out of Wall Street's Republic of Hong Kong. .


First, only the h-shares to counterattack, A unit is stable at all. Why?, because if no one is good one to seven times the price-earnings ratio of h-shares, it is not possible it was optimistic about 14 times the earnings of A unit. Not to mention China's capital markets, it is self-delusion. It should be said that regardless of whether they are citizens or foreigners, as long as he wants to invest in China's stock market, at least in the h-shares and A unit to the same concern.


Second, Hong Kong is only out of Wall Street, as the pricing of Asian companies hold up the banner of the capital, could truly become the financial center of Asia, but now is a great opportunity. .


In the past, despite the financial, personnel and adequate financial facilities, but it is not a financial centre. Why, because all the core behavior of financial markets and is forming capital pricing. However, the past does not provide any financial commodity pricing pricing pricing has not been detached from Wall Street's control. Therefore, to expect that the past just Wall Street in the hands of a doll, a cake pan.


However, now's your chance. If Hong Kong can lead the Chinese stock market and even the Asian markets took the lead out of the woods, and through monitoring and other necessary means to fully maintain the pricing Asian companies, which must in the upcoming Hong Kong a "new Asian era," a prestigious international financial center. .


On the other hand, if you just sit in Hong Kong market is deteriorating and sit, and even believes that global stock markets are down, there is no reason not to fall, it will not only play with international investors, more seriously, it could become a stumbling block to financial stability, and a serious interference with the effectiveness of central policies. Indeed, the Chinese people's confidence in the economy and the Chinese economy is dragged into the abyss.


Therefore, our financial managers must be aware that Hong Kong's financial market more than just the Hong Kong market, more than Wall Street's financial markets, but about the safety of China's financial market. .


Our opportunity before us. Financial crisis-free play money war?.


Governments around the world an unprecedented large-scale joint rescue, shots at every turn by hundreds of billions of dollars. The current secondary market bond derivative contracts has been enlarged to nearly 400 trillion, equivalent to 7 times the global GDP, high. The huge negative equity, how to use the real wealth to fill? . .


The financial crisis was a conspiracy.


Throughout the subprime mortgage crisis I do not understand, Japan, Southeast Asia, Europe, the United States are now losing money, in the end who earned the money go? How to earn? Money somewhere. .


In December 2007, 39-year-old song Hong-Bing from the United States Wall Street back to Beijing, xizhimen nearby Hongyuan securities in international financial strategic analysis and business innovations; a few months later, he worked in the United States, the two "units" and "Fannie Mae (FannieMae)" and "the beauty of premises (FreddieMa c)", suddenly became the international financial and economic news of the Red Star — both at home and was later taken over by the Government of the United States, financial institutions, triggered a series of "credit crisis, the subprime mortgage crisis," the expansion of investment and devour the five wall street sweeping across the global financial crisis.


Song Hongbing, said he chose that moment to leave the center of this financial crisis is not by accident. If other people say, it is inevitable that the suspects after Zhuge, but Song Hongbing no worries, he published in June 2007 best-selling book "Currency War," in the background has been predicted with the government's "two-room," a series of adverse economic operation approach will bring a financial disaster. The book cites the Federal Reserve Open Market Committee, Federal Reserve Bank of St. Louis President Weilianboer warning: "When the financial crisis, the government licensing bodies will be short-term debt in just a few hours, most within a few days complete loss of mobility.。 ” 。.


"Currency war" has just come out when the reader just as this prophecy with the Rothschild family, a control similar to the Napoleonic wars saga, did not expect it but then quickly becomes a reality. .


Be "hidden" risk.


One is related to hundreds of millions of dollars, it is urgent warning, only on the best-selling book, was the common people as a staple of conversation, somewhat distraught. Why is the world's eyes glued to tens of thousands of daily financial risks of economists and analysts, but will turn a blind eye to this black hole?. .


Song Hong-bing is of the opinion that the industry is concerned, the discovery of the "two-room" there is a risk of excessive debt and not difficult, "the subprime mortgage crisis itself is a strange thing. I am just a normal financial professionals, if I can predict in 2006 to this crisis, Merrill Lynch, Citibank, Morgan Stanley, and other financial institutions, as well as the Federal Reserve and other financial supervision authorities, access to a large number of first-hand information on the circumstances, it would see it? ".


Bankruptcy and debt This is the inevitable phenomenon of market economy, individual companies insolvent under normal circumstances, unless there is a big exception, and will not develop into a financial crisis. Song Hongbing in the "two rooms" during the period as a consultant, had found many anomalies. For example, the Federal Reserve raising interest rates 17 consecutive times, the "two rooms" are still eating a large mortgage loans; to the end of 2007, "two rooms" core capital, total 832 million, this capital were to support the 5. .2 Trillion U.S. dollars in secured debt and the leverage ratio as high as 62. .5-Fold. .


Than "two-room" more the exception that is the financial turmoil in the subprime loan. Mortgage company loans to no income, no job, no property (American English that Nin jna), in order to prevent risks, through the asset as well as a series of complex design of financial derivatives, so that these "three people" mortgage risk transfer to the growing number of investors on the head.


Subprime mortgage securitization and multi-level financial derivative instruments to be invented, brought two consequences, first derivatives of different types of financial institutions such as insurance companies, commercial banks, investment banks generally linked; Second, financial organizations leverage soared, with the dazzling financial innovations continue to emerge, the world's total financial assets quickly add value to 600 trillion. .


Song Hong-Bing proposed, in view of the world's financial industry and harmed the situation has been formed through derivatives transactions, maintain investors ' confidence, maintain 600 trillion financial derivatives market, is not to crash into the financial sector. So, look before you leap, desalination of the seriousness of the financial crisis, to become a "mainstream economists" and "mainstream financial media" a big task.


. .


In the popular headcount bankrupt just past, the United States on the occasion of the uncertain financial situation, including China, a sovereign Fund "bottom Wall Street", in financial media frequently. But some financial industry analysts believe that the Wall Street financial crisis has not ended, and will probably continue to thoroughly.


Address to the United States "buy the dips" one said, China Europe International Business School professor Xu Xiaonian evaluation is: "Two months ago the Government to the United States was 忽悠 bargain hunting, real time to copy it, now loser pants are not, you dare get your own money to copy it?. " .


Song Hong-Bing projections, this crisis will go through four phases: the first stage is the mortgage crisis (February 2007 to May 2008), is the "two-room" unsustainable; the second stage is credit default (CDS) crisis (June 2008 in the first half of 2009), the size is 62 trillion; the third stage is interest rate risk, interest rate swaps market size close to 600 billion; the fourth phase is the US dollar position in crisis.


Chinese Academy of Social Sciences World Economics and Politics Yu Yongding, director of think that, as more and more into subprime mortgage interest rate reset period, mortgage default rates will further increase the prices of various financial assets will further decline. As long as financial asset prices continue to fall, the United States, the shortage of liquidity and credit contraction is difficult to avoid. .


Monitoring of the absence of intentional.


Wall Street bankers painstaking creation of financial derivatives, are really to "shelter scholars of the world all smile," create the conditions for each of no income, no job, no property Ninjna live on the big house?. .


Song Hong-bing is complicated by the mortgage bankers, politicians, and the general public can get. Politicians can guarantee to the voters on TV, more and more valuable in your House, your mortgage conditions is becoming more and more relaxed; bankers obtained supervisory authorities tacitly high leverage and misinform the financial innovation; public got a House and a second with a mortgage loan.


Federal Open Market Committee Weilianboer early as 2005 in a speech strongly critical "two rooms" such government-sponsored enterprises (Gover nmentSponsoredEnterprises, GSE), that a certain class of politicians to please voters in order to set the type of business undermines the principles of market economy. The problems of the financial turmoil in credit default swaps and interest rate default swaps, insurance, insurance, and these two important the introduction of financial derivatives, with the "two room" is closely related to fixed rate mortgages. .


"Two-room" who takes responsibility for all House of political objectives, as a threat, they can not only be detached from the monitor, you can also use unlimited Government credit issued short-term bonds with low cost.


On the sub-prime financial innovation, the politicians and bankers to achieve a win-win, Ball's voice never become mainstream. Until the sub-prime difficulties that the faltering U.S. financial system in the winter of 2007, for next year's presidential election and congressional elections lose points, the Bush administration to put pressure on the enterprises, to delay the housing slowdown to continue to ease mortgage terms, to ensure that people do not lose their homes. .


Today's Wall Street Journal's "rescue heroes," Secretary of the Treasury Paulson, a year earlier and the Federal Deposit Insurance Corporation (FederalDepositIns uranceCorp..) President, Ms. Baier (SheilaBair), proposed mortgage company freeze 200 000 mortgage interest rates, "keeping the interest rate initially set up to help lenders. ” 。.


Who wins. .


"Investment banks the most attractive features is that it's high leverage, highly leveraged transactions can make the Investment Bank's annual profit reached the capital of dozens of times. "Hong-bing said that" I'm back home, one of the biggest losses on Wall Street than remuneration markedly. China's financial innovations can do too little, the natural low leverage ratio, earn less money. ” 。.


Wall Street, some hedge fund managers can profit operator instead of 10% or 20% of the revenue their own pocket. United States, "Monthly traders" (Tra derMonthly) announced revenue in 2007 ranked traders show, the New York hedge fund Paulson John Paulson, founder of annual revenue in 2007 reached 3.7 billion U.S. dollars. .


Leverage often dozens of times the investment banking, Investment Bank brings high profits at the same time, also have the investment manager. Lehman Brothers CEO Foard (Rich ardS. .Fuld) in the United States Congressional testimony, the California Democrat Wei Waxman (HenryA. .Waxman) asked: "most people find it difficult to understand, you in the past 8 years from Lehman got $ 500 million in revenue, why it got bankrupt fields?".


Even bankruptcy, Wall Street executives do not like as most people imagine and lose our shirts. .


To trigger the "subprime mortgage crisis," the United States's second-largest mortgage company — new century Financial Corporation (NewCenturyFinancial) as an example, the company in 1995, three in the mortgage finance expert set up, the company's capital from venture capital funds, 1997 in the capital markets, its unique feature is that the customer about the loan application in reply within 12 seconds, opening mortgages new record in the industry. Relying on this trick, new century finance in Fortune magazine's Global 100 fastest-growing companies, ranked No. 12.


In early 2007 spring, New Century Financial Corporation received Morgan Stanley, Citigroup and Goldman Sachs's noisy in the letter, the company's shares fell 87 cents short, New York Stock Exchange was suspended bankruptcy. However, as New Century Financial is a limited liability company, the loss of just three founders of return on equity, their golden age in the Wall Street rewards obtained intact. .


Song Hong-Bing got a question, there is a loser in the financial markets will have to win, who wins and who loses at a glance. "But in the whole of the subprime mortgage crisis, I do not understand, Japan, Southeast Asia, Europe, the United States are losing money, who earn the money went? how to earn money in these?".


Yu Yongding at the research process of the formation of the subprime crisis, noted that the subprime mortgage securitization process involves more than 10 participating institutions. Including mortgage lenders, mortgage brokers, lenders, consumer credit verification agency, loan transfer of people, a special purpose vehicle (SpecialPurposeVehic le, SPV), rating agencies, underwriters, distributors were insurance companies, special service providers, electronic registration system and the investors. .


The most important of which is a special purpose vehicle (SPV), Yu yongding said, SPV General legal and financial independence from the subprime mortgage originator, but may be established by the sponsors; SPV is a shell company, can have no employees, in Jersey (Jersey) or Cayman Islands (theCaymanI slands) offshore centres.


Such active participation in the offshore fund mortgage loans, the financial trend of the judge fairly accurate, not only more insight than the average investor, but also over the majority of sovereign funds to grasp the situation. .


US Treasury Web site published by long-term foreign to the United States Securities net purchase of 2008-3-5, monthly report displays, on the Caribbean to u.s. agency bonds in 2008, 3, 4, 5, 3-month top row first, reducing 334. .61 billion, 198. .96 billion, US $ 100.; the region .48 remarkable beauty sector debt firm and rapid reduction of the situation. In the Caribbean region, the three-month bond holdings of u.s. institutions, the largest is the Cayman Islands, reduce 428. . .26 Billion, is a single country (region) in May of underweight title. Some sovereign funds are "open type" to accept an offer, they threw out the U.S. agency bonds. .


Song Hong-Bing conjecture is that offshore fund are likely to be the hedge funds and investment banks "backdoor", "they may have interests before winter comes as possible to those of the Caribbean island". Song Hong-Bing describes that offshore fund are not subject to supervision by the Bank for international settlements, the international funding requested on offshore companies monitored unceasing, but do not have access to these areas of sovereign of the United Kingdom and the United States. In June 2008, the German Chancellor Angela Merkel said they hope to overseas offshore funds. These are the international financial community at opposition.


Subprime mortgage crisis ignited the global financial crisis, it really was a director, it was premeditated conspiracy? Some economists do not support this view. Xiaonian that the U.S. politicians to improve the living conditions of low-income earners the urgent needs of Wall Street bankers and brokers could not restrain their greed, the mainstream financial media wants to portray a booming global economy, these are undeniable true, but who want to see the world without paralyzing the global credit system, and then drag down the real economy. "At least there is no evidence that all this is not a technical failure, but the moral evil person intentionally.". .


Cash for waste paper?.


Bush administration 700 billion bailout plan, the face of Wall Street financial elite created 62 trillion U.S. dollars of credit default (CDS) and 600 trillion U.S. dollars of interest rate swap contracts of insurance, but a drop in the bucket. 2008 Nobel Prize winner Paul Krugman blunt assessment: "700 billion bailout plan is just take the cash-for-paper.". .


Wall Street financial crisis and sustainable development, would endanger US dollar settlement currency in the world, this is the financial observers ' consensus. Song Hong-Bing's view is that the dollar will crash sooner or later, Frankfurt, London, Switzerland, may substitute for New York's financial centre, the international monetary system will change significantly.


"The dollar collapse, do we believe that the euro will be able to do? From 1971 to the present, the world monetary system, the credit total, but only 37 years. Humans may be an unprecedented money making test, and test results have yet to time to verify . than a few thousand years of human practice of gold currency, the currency of the time the credit is also too short. concluded that the pure credit dollar monetary system must be able to be maintained, perhaps a little too optimistic. All of this is ultimately up to the global financial crisis deterioration of the speed and breadth to decide. ". .


USD after the next currency? " Euros of Mundell has recently proposed should supply-monetary policy decisions. Mondale was of the view that the current demand for currency is oriented, it is how many, how much debt issuance, the supply of currency was determined how many gold hair much money.


As early as 1983, Greenspan had demonstrated on writing articles to regain monetary function of gold is technically no problem, the key is political will. "Grasp of the right denomination coins, the United States would certainly not have the will, but the question yes the world refused to accept U.S. dollars Ta Du how to do? It in time to play this game Jiu not go on.". .


The Asian Development Bank in China Office Chief Economist Tang min, also believes that the crisis on Wall Street, the international monetary system will produce a huge change, but it is not possible then the single currency. "I make this change, called improvement, which is necessarily in the direction of improvement of the international monetary system".


Tang said that the international currency should be bound by the automatic adjustment mechanism designed to prevent big fluctuations in the value of these currencies. But he also believes that gold will become an international currency, because if the implementation of the gold standard, modern state, there is no monetary policy, the independence of a country's currency no longer exists, "Which countries are willing to do?." .


"The current crisis, tactical said we apparently lost. But from a strategic it on China means that great opportunities, but also can be said to be 100 opportunities. Previously both WTO or the international monetary system, are people making good rules to follow us to play. Now we can participate in to a new monetary system rules, China should rule changes to a right of speech, at least out of our programmes. ” 。.


"The dollar is bad again, no other monetary forms can replace it. This point, only the dissolution of the Bretton Woods system, under careful study, the dollar did not collapse the detailed reasons, not difficult to conclude. At that time many factors, now not much change. "Xiaonian that the future world financial system would not be perfect," the crisis in the United States is neither the first time in human history, can not be the last. This is like humans learned to use fire, fire has never been broken off on. ". .


As for how to improve America's existing financial system of the "technical", fire-proof Hui, gives three proposals: first, the money supply should not be too long, cannot exceed the actual needs of the economy; the second is too much to strengthen the financial sector, particularly with respect to the regulation of hedge funds; third, to improve corporate governance in the financial sector, changes in financial institutions, managers of the benefits and risks of asymmetry. . .


。.


. .


。.


Turning to U.S. interest groups, can not but mention a number of prominent American family, because the United States, its characterization is based on family interest groups emerged, in these extremely wealthy family groups, the most representative and the most persuasive than was the famous】 【Rockefeller family has. .


。.


. .


。.


We touched】 【Rockefeller family, you have to look and browse some】 【Rockefeller family, the family business to the area by foot overview: American Standard Oil, Rockefeller Foundation, Chase Manhattan Bank (now reconstituted as the 【 JP Morgan Chase】), United States Museum of Modern Art, Rockefeller Center, University of Chicago, Rockefeller University, New York World Trade Twin Towers (of course, the Twin Towers in the 911 in Hong Ta).。.


. .


。.


. .


。.


. .


。.


. .


Similarly, in this field by the United States ' own problems arising out of the so-called "global finance" tsunami, one is interesting: the US Government to abandon the moribund and starving 【 】 regardless of Lehman Brothers, it is more interesting: the Rockefeller family, not--but on Lehman Brothers 】 【 nothing had hit hard kick one leg as quickly, it was reported that Lehman Brothers 】 【single complaints 【 mogendatongyinxing ??freeze its cash and securities, and assets of $ 170 million, resulting in the Lehman Brothers 】 【 liquidity shortage on, thus falling into the liquidity of financial crisis that had filed for bankruptcy. . This is yet another perfect illustration:】 【Rockefeller family in the eyes of the U.S. government and Congress how important the position and not or missing. .


。.


. .


。.


Now if we solve the U.S. financial crisis give the exact answer to that is: the U.S. government is just】 【Rockefeller family puppetry and voice only, there is objection to What? . .


The Fed's secret.


The Fed claims that no one owns it - it is a separate entity within the government sector. Subject to the Federal Reserve, including the Freedom of Information Act (Freedom of Information Act) and Privacy Act (Privacy Act) covers federal agencies, including private companies, not the law; the same time Congress give the Fed the right to self-government to ensure its independence from outside political pressures exercised responsibilities. The Fed's three parts of each one - Management Committee, regional reserve banks and the Federal Open Market Committee - are independent of operating outside the federal government to exercise its core functions.。.


For many years, Who owns the Federal Reserve has been a closely guarded secret of the topic, the Fed itself is always vague. And the Bank of England, as the Fed shareholders situation strictly confidential. Congressman Wright Patman (Wright Patman) served as Chairman of the House Banking and Currency Committee for 40 years, in 20 years, he kept the proposal for the abolition of the Fed, he has been trying to find exactly who owns the Federal Reserve. .


The secret is finally found. The Fed's secret (Secrets of Federal Reserve), author of Eustace (Eustace Mullins) after nearly half a century of research, I finally got the 12 Federal Reserve banks, the original business license (Organization Certificates), record each Reserve Bank shares constitute.


Federal Reserve System Federal Reserve Bank of New York is the actual controller, which in May 19, 1914 the Audit Commission to the currency (Comptroller of the Currency) reported that the document prepared by an issue of shares recorded a total of 203,053 shares, of which:. .


Rockefeller and Kuhn leibo company under the control of the National City Bank of New York, with the highest number of shares, holders of 3 million shares.


J. . P. . Morgan's First National Bank has one. .5 Million. .


When the two companies merged in 1955 to Citibank, it owns the Federal Reserve Bank of New York for nearly 1/4 of the company, it's actually determine the Fed Chairman, u.s. presidential candidate's appointment is just a stamp, and Congressional hearings more like a formality only performances.


Paul Luowoboge New York State commercial banks have 2. .1 Million shares. .


By Ross Chai family directors of Hanover Bank (Hanover Bank) have 1. .02 million shares.


Chase Manhattan Bank (Chase National Bank) has 6000 shares. .


Hon Wah Bank (Chemical Bank) has 6 000 shares.


The six banks held a total of 40% of the Federal Reserve Bank of New York shares in 1983, a total of 53% of their shares. After adjustment, the proportion of their holdings are: 15% Citibank, Chase Manhattan, 14%, 9% of Morgan Trust, Hanover manufacturing 7%, 8% of Han Chinese banks. [11]. .


Federal Reserve Bank of New York's registered capital is 1. .43 billion, these banks are paying the money remains a mystery. Some historians believe that they only pay half cash, some historians think that they did not offer any cash, but only pay by cheque, who owns the Fed's account has only a few movements of the figures, the Fed's operation is actually "do mortgage issue paper paper." It is no wonder that some historians mockingly referred to Federal Reserve system is neither a "Federal" and not "reserve", is not a bank.


June 15, 1978, the U.S. Senate Governmental Affairs Committee (Government Affairs) issued a major U.S. interlocking interests of the company's report, the report shows that the 130 major banks in the United States has 470 company board seats, the average 3 each of the major companies. .6 A number of board seats are bankers. .


Among them, Citibank control 97 Directors seats; J. .P. Morgan companies control the 99; Hon Wah Bank control with 96; Chase Manhattan control 89; Hannover manufacturing control of 89.


September 3, 1914, "New York Times," when the sale of shares in the Federal Reserve, announced a major stake in banks constitute:. .


National City Bank of New York issued 25 million shares, owned by James · Stuurman of 498 unit; J 47. .P. Morgan company 14 500 unit; William · Rockefeller 1 million shares; John · Rockefeller 1 750 unit.


New York state commercial banks to issue 25 million shares, George Baker has 1 million shares; J. . P. . Morgan 7 800 shares; 玛丽哈里曼 5650 shares; Paul Luowoboge 3000 shares; Jacob Schiff 1 000 shares, small-J. . P. . Morgan 1 000 shares. .


The Chase Manhattan Bank, George · Baker has 13 408 units.


Hanover Bank, James Stillman owned 4,000 shares; William Rockefeller, 1 540 shares. .


From 1914, the Federal Reserve since its establishment, the incontrovertible fact shows the bankers control the u.s. financial life, business life and political lifeline was and still is. These Wall Street bankers are linked to the city of London's Ross Chai family..


Bankers Trust Company (Bankers Trust) was elected president of Benjamin Strong, the first chairman of the Federal Reserve Bank of New York. "Under the control of the Strong, the Federal Reserve System and the Bank of England and the Bank of France formed the interlock (Interlocking) relationship. Benjamin Strong as director of the New York Federal Reserve Bank of sudden death in 1928, when Congress is investigating the Federal Reserve Board and the European central bank giants conclave, which led to the 1929 conclave economic return. ". .