.Is the attack really fast?" In the office, Zhang Yan touched his chin and looked at the computer screen. The Dow Jones Index on the screen fell all the way, and it had fallen terrible. Although Zhang Yan saw the signs of the crisis in the United States, he never thought that the crisis broke out in 2004, which was a bit unexpected. According to Zhang Yan's inference, the crisis will not break out until at least 2008!

However, Zhang Yan did not expect that the US economy had reached a very difficult stage. The main reason for spending the first few times was that someone took it. Russia and Japan in 911 were the bottom of the United States! Just as the saying goes, it would be fine if you do things wrong, but if you do things wrong, if you do things right, it will only cause greater mistakes.

"Frozen for three feet is not a day's cold." In fact, over the years, many American economic forecasts, judgments, economic policies and economic value evaluation standards have been wrong. The consumption is too high and the savings rate is low, but they not only fail to realize it, but they are also proud.

The previous escapes made the American elite think that the world can keep revolving around the United States, but they did not expect that the price to be paid as the fulcrum of the earth is also very expensive!

The U.S. military expenditure in 2004 was US$455 billion, which was a growth rate of 12% compared with the previous year. The U.S. military expenditure accounts for 47% of the global military expenditure, which is more than the total military expenditure of the 32 countries ranked behind the U.S., and even more than the total military expenditure of all developing countries. The U.S. expenditure ratio in its GDP has also continued to rise, and last year this rate has reached 3.9%.

As a world policeman, there is still a lot of pressure!

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This financial crisis is coming fiercely, spreading and spreading at a fast speed, with large scale and strong destructive power. Faced with this seemingly sudden social disaster, many people are deeply afraid as if they are facing natural disasters such as sudden storms, hurricanes, tsunamis, earthquakes and plagues. Therefore, "financial storms", "financial hurricanes", "financial tsunamis", "financial earthquakes" and "financial plagues" have now become words that are used by domestic and foreign media and people very frequently.

This serious financial crisis quickly developed into a serious economic crisis.

However, Zhang Yan does not have enough estimates and understanding of the current economic crisis, the speed, scale, destructive power, etc. Zhang Yan even believes that this economic crisis was induced, so the degree of harm will definitely be. The severity of the economic crisis broke Zhang Yan's expectation.

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Subprime mortgage crisis refers to a subprime credit housing mortgage crisis. Banks and other financial institutions operating housing mortgage business in the United States divide their credit ratings according to the borrower's economic status. For example, housing mortgage loans issued to borrowers with good reputation records, fixed jobs, stable income, light debts, and low risk are listed as premium loans. On the contrary, housing mortgage loans issued to borrowers with poor reputation records, no fixed jobs, no stable income, heavy debts, and high risk are listed as subprime loans.

Among all types of loans, the interest rate of mortgage loans is high and the repayment conditions are strict. In mortgage loans, the interest rate of subprime loans is higher and the repayment conditions are stricter.

Banks have always flattered the rich and then taken away the last dollar of the poor!

In a typical capitalist country like the United States, financial institutions operating housing mortgage loans can only issue premium loans instead of subprime loans for their own financial security. Many countries outside the United States do this. The main reason why the United States does this is to maintain the dignity of the United States!

After World War II, in Western countries, state interventionism was in the mainstream position. In the capitalist market economy, in addition to market regulation, there was also government regulation. Not only did the government exist in the macroeconomic field.

Moreover, there is also government regulation in the microeconomic field. For example, the policy of financial government regulation of finance is what our media now calls the government's regulation of finance.

In the late 1960s and early 1970s, neoliberal thought rose to mainstream status in Western countries. The core content of neoliberalism is privatization, liberalization and non-regulatory. The Johnson administration in the United States privatization of Fannie Mei. The Reagan administration implemented economic liberalization and abolished or relaxed government regulation in the micro-economic field. This includes implementing financial liberalization in the financial industry, abolishing or relaxing local regulation of the financial industry, that is, abolishing or relaxing supervision.

The Clinton administration proposed to vigorously increase the "housing ownership rate" and to enable the poor to realize the "American Dream". Bush further described the "American Dream". He said that he would accelerate the reform of the American social welfare system and strive to build a "ownership society" - a "society where everyone owns housing."

Bush's promise seemed more beautiful and innovative than Clinton's increase in "housing ownership rate". In fact, before Bush, Thatcher, England, had advocated the construction of a "property ownership society" and was inherited by her successors.

In addition to Clinton's increase in "housing ownership rate" and Bush's construction of a "ownership society", the Republican Party's platform also proposed to "expand housing ownership", the US Congress also agreed to achieve "more house ownership", and Federal Reserve Chairman Greenspan also proposed to "make housing affordable Americans who cannot afford housing." All of this has played a considerable role in creating the "American Dream".

Some people cannot see clearly the essence of this "American Dream" and mistakenly believe that this is the human ideal of "the living has its own house" being realized in the United States.

But in fact, the United States is just overdrawing its own wealth, overdrawing its wealth for ten or twenty years, and this consumption method will inevitably be liquidated!

The first thing that received the liquidation was the two-bedroom house as a tool for real estate in the United States

The Johnson government privatized Fannie Mai. The nature and role of Fannie Mai, which has a history of 30 years, has undergone major changes in the scope of the capitalist market economy. Since then, Fannie Mai has become a unique mortgage financing giant in the United States. Fannie Mai is both a private company and a government franchise. As a private company, it aims to pursue high profits; as a government franchise, it has government support, enjoys tax-free privileges, and can also try to evade supervision. In the secondary mortgage market, Fannie Mai is a veritable monopoly organization.

Freddie Mac was founded in another American housing mortgage financing giant after Fannie Mae. It was in this year that the US mortgage market launched housing mortgage securities for the first time. Later, the far-reaching mortgage securitization began. The purpose of establishing Freddie Mac was not only to balance the fiscal budget, but it was said to prevent further monopoly of the housing mortgage market. In fact, the monopoly degree of the US housing mortgage market was not weakened by the establishment of Freddie Mac, but was replaced by the double-poly monopoly of Fannie Mae and Freddie Mac.

In the modern capitalist world, monopoly organizations have mutual support, mutual utilization and mutual penetration between states and governments. Monopoly organizations need support from states and governments, and states and governments also need support from monopoly organizations. Agents of monopoly enterprises can enter the government to serve important positions, and important government officials can enter the monopoly enterprises to serve important positions after leaving office. These are already well-known. However, people don’t know much about the close relationship between Fannie Mae and Freddie Mae and the US government and parliament in the past.

After the outbreak of the current financial crisis, the US media has revealed the close relationship between Fannie Mae and Freddie Mae and the government and Congress. For example, an article published by the Washington Post entitled "How Washington lost control of Fannie Mae and Freddie Mae" revealed that Fannie Mae CEO said at a meeting: "We are no less controlling political risks than controlling credit risks and interest rate risks." This sentence is so frank that a private company actually wants to control political risks.

In this regard, the article in the Washington Post explains: "Fann. Fannie Mae and Freddie Mac have the advantages of government agencies and private companies, and use high profits to win over politicians who should have controlled them." Fannie Mae and Freddie Mac have entered the "political structure of Washington". On the one hand, they are places where former government officials get rich and wait for new positions in the federal government; on the other hand, the terms of Fannie Mae's executive contract stipulate that if executives leave the company to hold public office, they can receive high resignation benefits. Fannie Mae and Freddie Mac control politicians
Chapter completed!