Its characteristic is that people's expectations of the future economy are more pessimistic, the currency of the whole region has depreciated sharply, and the economic aggregate and scale have lost a lot, which has hit economic growth. It is often accompanied by a large number of business failures, rising unemployment rate, general economic depression in society, and sometimes even social unrest or national political turmoil.
Financial crisis can be divided into currency crisis, debt crisis and banking crisis. In recent years, the financial crisis has increasingly presented some mixed forms of crisis.
Before the American subprime mortgage crisis, the United States seemed to be a prosperous scene. In fact, it is mainly driven by the false prosperity of the real estate market, and the real estate transactions in the United States are over-speculative. This phenomenon can be described by an example that we can easily understand:
It is said that we all speculate in stocks to make money, but it is not enough to invest all our money. We still want to borrow money to make money, so we mortgage our own stocks and continue to buy stocks, and some banks even give you financing without your mortgage.
This has accumulated a lot of risks.
One day, the crazy stock market fever showed signs of fading, and the stock also fell. Many people cut their meat and leave because they can't pay back their loans, and many people take mortgaged properties because they can't pay back their money. Many banks have to admit compensation when lenders can't repay their debts because they don't have enough collateral. Chain reaction, personal bankruptcy, bankruptcy of credit institutions, economic depression, inflation.
The American government wants to curb excessive investment, reduce the scale of credit, and control the pushed up prices, so it has adopted a policy of tightening monetary policy, including raising interest rates, raising bank deposit reserves, issuing bills to absorb money market funds, and so on.
In fact, American political and economic circles are all politicians. They really dare not compliment their ability to manage the national economy. They have no idea about patients in their own country. The rapid and sustained policy of raising interest rates is actually the fuse of this crisis. This measure led to a large number of loans that could not be repaid, triggered a series of bad debts, and led to the domino collapse of many financial companies in the United States, triggering a financial crisis.
Reference is the relationship between subprime mortgage crisis and financial crisis.
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