If Arthur were to say objectively, was there a bubble in the Celestial Empire's economy?

Then his answer is undoubtedly yes, yes, and the bubble is not small, however, he does not think that this so-called big bubble will burst easily, so he will add a deadline to the time.

The most important characteristic of an economic bubble is the rapid rise in asset prices followed by a sharp decline. Speculators often don't think they're in a bubble because they believe prices will rise.

Moreover, the necessary conditions for the formation of a bubble, in addition to the need for unprecedented ultra-loose flow xing as a support, and then there is a new word, new technology, new products, new economy, new concepts, new business models and other new phenomena that everyone did not know before an era, thus triggering investors' longing for investment prospects.

Finally, the formation of any bubble is backed by the visible hand of the local ZF. In order to prevent the economic downturn, in order to promote the economy, the well-intentioned support for the bubble had the unfortunate consequences...

The real estate market is still hot, land prices continue to rise, and the sweaty labor income is even far worse than the income through real estate speculation or financial investment. What's even more terrifying is the constant promotion of the so-called Gang Xing bubble, which seems to be a bubble that will never burst under the ZF guarantee。。。。。。

This is also why there has always been a voice that the Celestial Empire is repeating the footbasin-style super foam, and it is the generation stage of the bubble, and I have to say that there are indeed many similarities with the generation stage of the footbasin super foam back then.

Bubbles are always going to burst, they don't keep piling up.

Anyone with a little economic knowledge understands that for a healthy economy, real estate should not be in its financial transaction market, however, after real estate is endowed with financial attributes, it begins to have immeasurable power on the entire financial system.

And on this planet called Earth, only three countries have tried this huge energy that destroys the world, and the top three economies in the world economy - the bald eagle, the footbasin and the Celestial Empire. Recommended ReadingTV//

Of course, in fact, many small countries have tried, but because their economies are too small, the impact on the world is very limited.

It is precisely because of the subprime mortgage crisis of Bald Eagle and the disappearance of the footbasin for twenty years that the people of the earth finally deeply appreciate the destructive power of this energy comparable to Purple Potato Jing Thanos. And now, it is normal for some people to worry about what kind of sequelae this super bubble of the Celestial Empire will bring to the world economy.

As a former Celestial Empire person, Arthur knows too well the development of the Celestial Empire in the next ten years, so he also knows that there will be no problems with this real estate bubble in ten years, but if there is no problem, it does not mean that it will really not be a problem.

Because in the next ten years, the only thing that everyone in the Celestial Empire cares about most is housing prices. In the future, the proportion of real estate in household assets has reached more than 70%, to the extent that almost no one can accept the decline in housing prices.

Also, everyone wants to enjoy the after-sleep economy, and when you lie down and fall asleep, you can make money by making house prices rise. But is that really the case? How many people actually make that money?

In the stock market, the price that is not sold is never really profitable, and it is more difficult to cash out a property than a stock. Who can be sure that they can be the five percent of the cash-outs?

The counterpart to Unreal's high valuation is negative equity. And negative equity will eat people, it has eaten bald eagle people, eaten foot basin people, but has not eaten the Celestial Empire people...

However, what is even more helpless is that Arthur knows better than anyone that in the Celestial Empire, there are two kinds of tragedies, one is no money, and the other is no house.

What if there are none?

Hehe, is society going to abandon you?

Don't be funny, society doesn't even know who you TM is!

Arthur, who has been standing in a higher position, looked back at the economy of the Celestial Empire, and naturally knew very well the huge risks and crises involved, but from ten years later, he did not see the so-called bubble burst, but there were indeed some clues.

High housing prices and real estate bubbles were very complicated for most people at that time, but on the whole, the most dominant mentality was luck.

It is this kind of luck psychology that makes many people think that the real estate bubble has been shouted and collapsed more than a dozen times, isn't it still continuing?

However, this kind of psychology is the same as the psychology of eating the tenth bun and feeling that the first nine buns are redundant, ignoring the existence of the cumulative effect. At that time, including Arthur, who had a house in the capital, was thinking that it had been rising for more than ten years, and it would not be bad if it had risen for a few more years, right?

It's just that, in fact, in all financial markets, turning a blind eye to obvious risks is often the last stage before the collapse.

It's just like the simple fact that when the last snowflake comes, no one can tell which snowflake is causing the avalanche. Once an avalanche erupts, no snowflake is innocent.

Arthur and Smith Jama boast of a huge market of 1.3 billion people, in fact, it is nothing more than the vanity of the soul that refuses to let foreigners look down on the Celestial Empire, when the super bubble of real estate causes a serious misallocation of resources, emptying everyone's pockets, living in a house of 10 million and living in poverty, and a school district house easily emptying the wallet of a middle-class family...

The so-called huge consumer market is just a hehe, there is no money, and it is still a hair!

Of course, all this is ten years later, and now everything is naturally thriving, booming economic miracle, Arthur's little arm and little tui can't care what it will be like in ten years, now he needs to do is to take this high-speed economic high-speed train, make money, make a lot of money!

However, it seems that today is on the topic of bubbles, Arthur and Smith have just finished discussing the question of whether the economic miracle of the Celestial Empire is a super bubble, and Smith throws out a new question for Arthur to make his judgment and decision.

"Since the price of gold broke through the $1,000 mark, the international financial community has not stopped discussing whether there is a bubble in the price of gold. Among the seven major financial bubbles in the world recently selected by Forbes, the gold bubble topped the list. Let the controversy that was originally settled in the market be ignited again.

Boss, gold accounts for almost half of your asset allocation, do you consider reducing your holdings?" Smith Jama saw Arthur's brow furrowed, but he still said what he needed to say.

Arthur shook his head, looked at Smith with some confusion and said, "Haven't we discussed the issue of gold investment many times before?" I thought my thoughts and decisions were very clear to you, why do you still ask that?"

"Mainly this time, the debate about the gold bubble theory is very fierce, and there are many different opinions and arguments in the company, out of the attitude of being responsible for the boss, I must report the real situation to the boss for your reference and decision. Smith said with a serious expression.

"Hehe, thank you then. Hearing the reason Smith said, Arthur nodded with satisfaction and continued: "However, I still have the original opinion and decision, the price of gold is not only not foamy, but also undervalued.

As for the different opinions and suggestions, let them come up with the basis of their own arguments for our reference, after all, no one can be sure of the future, and my basis is that gold is considered the best tool to fight inflation, and the price of gold has not risen enough to keep up with inflation over the years. In the future, the market will be in an environment of low interest rates and high inflation for a long time, and from this perspective, the price of gold will continue to rise.

Money in the post-financial tsunami era, debt is overflowing, we don't buy gold, what else can we buy?"