After the New Year, the economic crisis in the United States fell into deep waters. Pen @ fun @ pavilion wWw. ｂｉｑUｇE。 ｉｎｆｏ

Over the past few months, people have been selling stocks like they were buying like they were buying like crazy.

But not everyone can endure the pain of cutting meat, Tom can't do this, but he was forced to sell the stocks in his hand, not because Tom didn't want to hold them, but because the stock fell, the broker asked him to add margin, Tom's stocks were bought through margin, which is equivalent to a kind of mortgage, using a stock mortgage to buy new stocks, the classic way of speculation.

But Tom didn't have any extra money, so his stock was forced to liquidate, and countless poor people were able to buy a considerable amount of stock through the margin system when the stock market was high, but when the stock market plummeted, they could not pay more margin and could only be liquidated.

A massive stock sell-off occurred in this context.

But these forced liquidation of stocks, the blow to the stock market is not the heaviest, those speculators who see the opportunity to frantically short the stock market contribute much more to the decline of the stock market than the forced liquidation of small shareholders, but these speculators are also not the most pressure on the stock market, the greatest pressure on the stock market comes from panic.

In a panic mentality, the stock market magnifies the extent of the economic crisis, just as they magnify the extent of the boom, and it is the real investors who withdraw their funds that are the most terrible, even Morgan and Rockefeller are trying to save themselves, not to mention other investors.

One plummeted to the end of the year, and the U.S. stock market finally bottomed out, and many of these stocks had already fallen below their value in the panic, and many stocks were over-falling.

Seeing the opportunity, the giants began to enter the market, and both Rockefeller and the speculative master Kennedy went on a dip.

Needless to say, Rockefeller naturally infiltrated the financial industry from the oil industry and became a big conglomerate that could compete with the Morgan consortium, and its strength also had its own outstanding vision.

Kennedy represents a rising family of immigrants in the United States, this Kennedy is named Joseph Kennedy, the third generation of the Kennedy family, his grandfather Patrick Kennedy came to Boston from Ireland to make a living as a coop worker, and after earning some money, he married and had children, and settled in the United States, Kennedy gave birth to a boy, Patrick Joseph Kennedy.

This Patrick Joseph is the father of Joseph Kennedy, Patrick, as a second-generation immigrant, living conditions are even worse than his father's, because his father died of illness after ten years of leaving him, and the situation of orphans and widows is even worse than that of his father who had just immigrated.

The harsh environment is the best way to train people, Patrick is eager to make money to supplement the family, so he went to work on the docks like his father did before finishing middle school, if he was an ordinary person, I am afraid that he will continue along the path of the poor generation and the poor second generation, and there will be no glorious Kennedy family in later generations.

After Patrick made a little money as a porter, he opened a beer hall, he knew how to run it, and the business grew more and more prosperous, becoming a middle-class person. But if that's all there is to it, his descendants will only be able to live a prosperous life for one or two generations. After Patrick made money, he didn't want to leave the money to his children, nor did he continue to be mercenary in his eyes on money. Instead, he began to get involved in politics, and through unremitting efforts, he successfully became a state legislature.

So far, Patrick has turned from a poor second generation of immigrants to an American elite, squeezing into the upper circle of Boston, but as a poor second generation, this alone is not enough to make the family brilliant. He also took the daughter of a wealthy local hotel owner and laundered himself into true New England blood by marrying the local elite.

Patrick gave birth to a son, Joseph Kennedy, and sent him to the best school to train him at Harvard University.

Joseph Kennedy was so ambitious that after graduating from college, he decided to make money as soon as possible and become a millionaire by the age of 30. Joseph knew where it was easiest to make money, so he came to Wall Street and, with the help of his father, became a director of a bank, claiming to be the youngest bank director in the United States.

Taking advantage of the post-war economic boom in the United States, Joseph threw himself into the stock market and became a millionaire. This rich second generation is not satisfied, and his real big deal is the hype before the stock market crash. Kennedy went on a buying spree before the crash, but he managed to get out of the stock market with all his money before the crash. After buying on dips and selling at highs, the so-called Great Depression is not just a blind decline, the biggest sign is actually instability, it is the norm to rise and fall, investment is completely replaced by speculation, and the stock market has become a casino.

Joseph was clearly a top gambler, and instead of going bankrupt during the crisis, he amassed more than $300 million in assets, bringing the Kennedys to the level of the richest families, and moving his family from Boston to New York.

If that's all, the Kennedy family is just one of the families that soared in the American dream of the 20th century, like the match kings and sugar kings, they can only be brilliant for a while, but they can't enter the history books for half a word.

After Joseph succeeded in bringing the family to the top, like his father, he also began to be interested in politics, he saw the potential of the young Roosevelt, and then actively helped Roosevelt in his campaign, and after Roosevelt was elected, he appointed him chairman of the Securities Commission; A few years later, he was sent to England as an ambassador, and as a descendant of poor Irish immigrants who were oppressed by the British, it was indeed a very outrageous thing to be able to return to the British Empire as an ambassador with pride.

But Joseph's political experience is still too shallow, and after only three years, he was driven back to the United States, and has never been in politics again, but Joseph is very stubborn, what he can't do, passed on to his four sons, one of his sons, finally became the president of the United States, and the Kennedy family finally rose to become the top family in the United States in the fourth generation, and has the strength to compete with families like Morgan and Rockefeller.

It was Joseph's second son, John F. Kennedy, who became president step by step, but it was Joseph's eldest son Kennedy Jr. who was the most dedicated to cultivating Joseph Kennedy. The eldest son joined the army in World War II, but the plane exploded and shattered his bones, so the second brother, John ended up with the flag in the hands of the eldest brother and continued to move forward with the Kennedy family.

John, who later became president, recalled: "My brother Joseph was the natural candidate for politics in the family. If he lived, I would continue to be a writer. If I die, my brother will be a senator. If something happens to him, my other brother will run for us. ”

This is a family with strong political aspirations, and political ambitions may not succeed, but they still have money, and they may not succeed if they have money, but if they still persevere, it would be unreasonable not to succeed.

But all this is an afterthought, at this time, Kennedy is still just a Wall Street upstart, and has not yet put his ambitions into politics, because he is now full of opportunities to make money, and the chaotic New York stock market is like a wolf getting its prairie to him.

Kennedy was eyeing the tiger, sometimes shorting, sometimes long, making a lot of plutonium, and he was in the limelight for a while.

But he mainly picks up the overlooked valuable stocks to buy, and there are many people like him on Wall Street, such as Rockefeller and others, who see that the stock market has stopped falling, think that it is over, and start to buy it.

Spurred on by these people, New York began to rebound three months later, after the Chinese New Year.

In half a year, it rose back to half of the decline a year ago.

The market began to be optimistic again, and the most unlucky president, Hoover, was in a rare good mood, and when someone came to him to talk about welfare, he actually made a joke and said, 'You're late, the economic crisis is over.'"

Has the economic crisis passed?

Although the stock market has fallen to the bottom, and the stock market is known as the barometer of the economy, but this is in a normal year, in a year of great prosperity or great crisis, this barometer is afraid that it will not reflect anything, because the great prosperity and the great crisis reflect more of the people's hearts, but no kind of table can reflect the hearts of people.

Therefore, this barometer has been completely detached from the economy at this time, when the stock market began to slowly pick up, the real economy has always been ignored, we have not noticed, long before the big crisis, the real economy has begun to shrink, new investment continues to decline, the big crisis is to make new investment almost cut off, from 16 billion US dollars, instantly dropped to 1 billion US dollars, this money is not enough to repair equipment in the United States.

Therefore, while the stock market is stable, it is the continuous contraction of the industry, and the biggest reason for deflation is that the Federal Reserve has increased monetary policy and has been tightening funds, in order to maintain the stability of the currency, the classic gold standard economic theory believes that money is the foundation of the economy, so the most important thing to rescue the economy is to maintain the stability of the currency, so every time there is an economic crisis, the measures they take are to tighten funds. The biggest consequence of tightening money is deflation.

Not only the United States, China is also deflationary, because Zhang Jiaao, like American financiers, also believes that ensuring currency stability is more important than anything else, so China's central bank, like the Federal Reserve, has always insisted on raising interest rates.

However, China's economy continues to deteriorate, the rate of growth is rising, the price level has dropped sharply, and deflation is no weaker than that of the United States.

It's just that Yang Chao didn't even take action to stop it, it's not that Yang Chao is as optimistic as Hoover.

However, Yang Chao believes that such a huge economic crisis will not be solved in a moment and a half, and even now, the economic crisis of various countries has not yet developed to the highest peak, and the momentum of the economic crisis has just been released.

In Yang Chao's words, it is to let the crisis develop for a while. (To be continued.) )