"A person's wealth soon spread, so more and more small and medium-sized enterprise owners like A began to participate in such a property speculation business in groups. This time, it's really frying. Because once a new real estate project comes out, the owners of these small and medium-sized enterprises will rush to buy most of the houses and drive up the price of the house. And these small bosses must gather more funds in order to eat more and occupy more. Therefore, the relatives and friends of these small and medium-sized enterprise owners were all involved in this property speculation activity.

In the previous stage of this speculation carnival, because there are indeed buyers with rigid demand in the market, the vast majority of houses can be successfully sold, so that the formation of small and medium-sized enterprise owners, their social relations as a supplement, banks, governments, real estate developers, property speculation groups, social lenders and other parties to benefit the situation, the economic situation is hot. But it is precisely because of this that when the whole society, when the banks and the government, are all involved, the risk of this property speculation carnival is finally infinitely magnified, to the point that it cannot even be filled by human life. Please see here. ”

Qin Feng used a laser pointer to circle the word "broken loan chain" on the projection screen, "This risk is essentially a subprime mortgage crisis. However, the residents of Dongou City are very creative, because the capital chain of housing speculation is not just a simple subprime loan, but has formed a multi-level chain of capital lending - the people of the housing speculation group draw funds from the bank and society, some social personnel lend money to small lenders, small business owners ask large enterprises to make guarantees, and banks lend money to small lenders. You have me, I have you, one is prosperous, and one is lost.

So, then, what happens?

From 2000 to 2005, B first relied on bank loans to lend money to a small boss like A to eat, and then he had an urgent need, and slowly began to do small loan transactions. But suddenly in November 2005, the 18 borrowers who had promised to repay him were all unable to take out the money. Why? Because these 18 people lent all the money they borrowed from B to A, who was doing real estate investment business in Nanhai Province at this time. It's just that this time, this business has lost all its money, and the real estate bought for 2 billion yuan can't be sold for 1 billion yuan now, and all the funds of a certain A have been trapped.

A person's house in Nanhai Province has been unable to get rid of it for a long time. Person A is very anxious, but even more anxious are the people who lent him money, the banks that lent him money, the entrepreneurs who vouched for Person A, and of course, the person B who couldn't get the money back. At this time, everyone urged a certain A to ask for arrears, and the most reasonable one was, of course, the bank first. The bank is not only urging A, but also all other small lenders who have borrowed from the bank, including large enterprises that guarantee A. So on the side of a certain person, in addition to the bank and relatives and friends to collect debts, he also has to avoid social lenders, that is, the legendary usury - this usury, of course, is not as black as in the movie, at most it is slightly higher than the bank's interest, but these people can't get money, they are emotionally irritable, and violent tendencies are inevitable.

At the end of December 2005, a person was overwhelmed and jumped off the roof of a building he had bought, killing him instantly. However, the bank first took back a certain person's real estate in Nanhai Province and put it up for auction, most of which were sold at a price slightly lower than the market price, and the rest that could not be sold continued to be entrusted to the bank until it could be sold at a high price. And the difference in price, according to the agreement, needs to be compensated by those large enterprises that guarantee a certain A.

But these big enterprises can't come up with money, because their funds are either borrowed by a certain person, or they are running on their own enterprise capital chain, and if they use this money to repay, then the company will go bankrupt. But if you don't pay back a penny, then you can't do it, because it's illegal. So some of these big companies eventually chose to go bankrupt. There are also some who want to go bankrupt, but neither the government nor the banks allow them to go bankrupt. First, the finances need to be replenished by enterprises, and second, if the enterprises go bankrupt and no one pays the arrears, the bad debts of the banks will never be equal. So we will see such a scene - a certain enterprise with good benefits, because of helping people repay debts, first fell into an extreme shortage of funds, and finally the government stepped forward and helped the enterprise and borrowed money from the bank, that is to say, in this good enterprise, thousands of workers worked diligently day and night, and the money earned by the enterprise eventually flowed to the bank, not only to repay other people's debts, but also to repay their own debts. There are even worse ones, that is, even if they lose money, they have to rely on government finance to grit their teeth and continue to lose, because these enterprises are bigger, and once they go bankrupt, there will be serious social problems, so even if the government is upside down, it cannot sit idly by. These are the 'zombie companies' I mentioned last year, sucking the blood of the whole society to make a living.

The bursting of the housing bubble directly led to the loss of vitality of enterprises, and the final result was that the economic development of the whole region showed a downward trend, and the GDP growth rate was not slowing down, but showing negative growth. The more intuitive manifestation is that the consumption power of the market has weakened, but prices are still falling because monetary inflation continues to rise, and the living standards of local residents have fallen again and again. Those residents who have suffered from the housing disaster will bear the brunt, and because these people are in a state of manic depression day and night, the impact on social order will also be considerable, which will indirectly lead to a decrease in foreign investment and further worsen the regional finances.

More concretely, we can imagine. Take B as an example - B wakes up in the morning, and the first call is from the bank, to collect debts. A certain B was very aggrieved and told the bank manager that he was also very embarrassed, not that he didn't want to pay back, but that the people who owed him money, those retired grandfathers and grandmothers, they couldn't pay the money. Then after making a phone call with the bank, the loan shark called again, and a certain B said that it was not that I didn't want to pay you back, but it was the current situation, I just had half a penny in the card, and I immediately let the bank take it away, and the steamed buns were in the broken pockets, and they couldn't be hot.

Finally got the lender over, and B went out to eat. When he arrived at the street, he looked around and found that the whole street was in a depression, and several restaurants that were originally open well were all closed because the boss was involved in flipping houses. B searched all the way, and finally found a cart that set up a stall on the side of the road. Then he was surprised to find out that the owner of the cart was actually an entrepreneur who had been on TV. A certain B asked him what was wrong, and the boss opened his mouth and scolded, saying that a certain person was a bastard, and it was easy for him to die, but the whole city was killed by him alone. A B listened, but retorted that A is not a bastard, but the bank is a bastard. If the bank hadn't forcibly frozen the accounts of those large enterprises that gave guarantees to A, so that A's funds would have been completely cut off, A's house would not have been sold for just a few cabbages. As long as those large enterprises do not fail, sooner or later they will still be able to save a certain person, but it is a pity that local banks only care about their own bad debts, but do not understand the chain effect in regional economic development. At this time, another person came over to the side and said that you are both wrong, a certain A is not a bastard, the bank is not a bastard, the government is a bastard. Because the government has long seen that the momentum is not right, but it has not taken any effective preventive measures for the sake of GDP, and the serious lack of macroeconomic control has caused the ultimate bitter fruit. ”

The audience fell silent.

Pan Xianda turned his head to look at Luo Shaofu, and said with his eyes: You student is brave enough......

Luo Shaofu was also a little dumbfounded.

This good report meeting was originally an opportunity to make a name for himself, but Qin Feng opened his mouth, but he offended everyone in the audience, why bother?

But Qin Feng hadn't finished speaking, and continued: "What I just said is not a story, it's something that's happening, and there's a considerable possibility that it will happen in the future. The person I just mentioned is a real person, who jumped off a building in Nanhai Province at the end of last year, and has a great influence in Nanhai Province, but we in Dongou City have not reported on it. The town where a certain household registration is located was originally a strong town in Jiangbei County, and its main industry is buttons, which is one of the main labor import places in our city. ”

When Qin Feng said this, most of the people present had already guessed this place-Qiao Township, Jiangbei County.

And Qin Feng didn't sell it, and when he said this, he simply opened up and said: "The economy of Qiao Township in Jiangbei County has collapsed, but in the past three months, the media in Dongou City have not reported on this matter. I think all the city leaders here must know the truth better than I do, but as for who is right and who is wrong, I think that on this issue, different people will definitely have different views from different positions and angles. So it's not about figuring out who's right and who's wrong, it's about what lessons we learn from it and figure out what to do next.

Jiangbei County has already had an accident, and the central area will not be too far away, and once there is a problem in the central area, the degree of this negative impact is definitely not comparable to Jiangbei County. But now it is more fortunate that although the mortgage chain in the central area is in danger, it has not really collapsed. We still have time to rescue, to repair, to prevent. And the good news is that Dongou is luckier than other places in that we happen to have a cure for housing prices. The name of this miracle drug is called social capital. ”