Stock Market Ups And Downs Have Their Own Operation Rules.

Recently, the stock market has dropped a lot, especially a large number of stocks have fallen below the low point of 3 of last year's stock market crash, causing more investors to suffer heavy losses.

Why is the stock market falling? Obviously, the main factor is regulation. Otherwise, why the stock market and bond market are falling together? Financial leverage to solve China's macro risks is understandable, but it is not proper to lack necessary communication between financial markets and financial institutions, including ordinary investors.

More than 2000 years ago, Mencius pointed out that great powers should be cooked.

Why can't we first emphasize the policy orientation and keep blowing the wind and make all kinds of new policies gradually put into place? In the past few years, China's interest rate liberalization was very smart. Finally, the interest rate was non marketization and interest rate realized seamless connection, and did not cause the financial market to fluctuate violently.

In any case, the stock market and bond market will have an upward trend when the policy orientation is clear.

But interestingly, during the decline of the stock market, many people believe that the stock market is down to meet the pension market.

It is not hard to find that in the stock market, there are too many people with too many IQ above 115, low academic qualifications, and even those who have excels in their own fields. They will produce all kinds of absurd ideas on the stock market.

This is also one of the proof that the stock market is unlikely to make substantial gains for most people.

This article talks about whether the stock market's fall is just an arrangement to meet the requirement of raising money into the market. First, do not overestimate the influence of regulators.

Generally speaking, the stock market will decline if money is tight. Compared to the typical year of 2011, a lot of private equity funds have been cut down at the bottom of about 2139 points.

But why did the US stock market rise continuously in 2002 or 2003 to 2006 or 2007 in a row of about 15 or 17 rate hikes? The US stock market has been rising and has reached a record high in 2007. Why did China's stock market rise continuously in the process of raising the deposit reserve ratio and interest rate in 2006 and 2007, and 5 times higher in 2 years? Why did the stock market continue to plummet during the process of reducing the rate of interest reduction by the Central Bank of the central bank? Basically, there is no single indicator or policy that can accurately predict the ups and downs of the stock market.

Not only can we overestimate the influence of regulators, but we can not overestimate the discretion of regulators.

According to the information recorded in at least one public publication, in 2005, it was probably the stock exchange or the securities and Futures Commission, which informed the brokers to prepare for the upcoming stock market rally.

At that time, China was going to take stock reform. As a result, almost all the people were regarded as bad ones when the reform of the share reform policy was published. (anyway, I don't remember anyone saying that this is good after the announcement of the share reform policy), because ten sent three was regarded as a trick to send beggars. Even if so few people were sent, there was a public publication of the article, accusing it of the loss of state assets.

But when the stock market rose, almost everyone regarded it as one of the important factors of "golden ten years".

To be clear, it is necessary to make clear that regulatory authorities should comply with economic laws, market rules, economic objective conditions and objective laws, and make measures that are conducive to economic and market development rather than playing in the market.

It is a price to pay for the market turmoil.

Secondly, the tasks of the regulatory authorities may not be consistent.

In China, there are both the bond market and the interbank bond market. Why are the two markets not consolidated? Is the Chinese central government and local governments thinking the same thing about real estate regulation or rising house prices? Is the exchange and the SFC thinking the same thing about the stock market? It can only be said that sometimes it is the same, sometimes it is different.

If this stock market fall is really creating a low point for the pensions to enter the market, then the CBRC and the SFC will give up the supervision flag. Under the stock market and the bond market, when the evil people in the market hate everyone, it is only a small sum for the pensions of 12 billion funds in the stock market.

Besides, what are the regulatory authorities such as the CBRC, serving the interests of your pensions?

Third, it is ridiculous to measure the orientation of the national policy with the thought of small citizens and small farmers.

National affairs, any new policy, will involve every aspect, and good intentions may lead to great mistakes.

The above said that the tasks of the regulatory authorities may not be consistent, but unless there is a possibility, it is a unified arrangement at the State Council level.

Regretfully, many of the people of the small town and the small farmers think (not to say that hundreds of millions of assets have the household registration of the first tier cities. He is not a small citizen. When Mao Zedong is a librarian in the library of Peking University, he only has 8 silver dollars per month, or when he is in the battle of Jinggang hill, what huge assets do he have?) but he likes to imagine that the national level will engage in such small or small peasant thinking with the people for small profits.

A country may not be able to do what is not done. For example, when the Kuomintang in 1940s or in the period of the German Republic of Weimar, it spammed paper money in the end of the war, but what was the result? Did the country achieve great rule and long-term stability? On the contrary.

A country, especially a big country like China, should have basic dignity and authority so that the implementation of government decrees will be carried out at the lowest possible cost, because the vast number of enterprises and residents believe these things.

Otherwise, there will be no implementation of the decree issued, and the hard push will be costly. The government will face the challenge of being empty.

The pensions can really enter the stock market. At present, I am afraid that it is a small sum of 12 billion yuan. Compared with the funds of the national team, it is only 1/10.

Indeed, all aspects of the orderly action to break the plate, the Shanghai Composite Index fell by 10%, the 12 billion market funds, but saved 20 billion cost, the cost is far more than this figure.

And

The target of setting up positions, such as the four largest banks, GREE electric, SAIC and Moutai, is expected to rise in recent stock market declines.

Of course, many small citizens and small farmers will not notice this fact.

Fourth, first swords usually have two sides.

If all the resources that the Chinese government can mobilize together to put the stock market down, in order to let the pensions buy low, will the two or three trillion positions of the national team be lost? Do QFII and Shanghai Stock pass through capital, that is, foreign capital, will they take the opportunity to enter the market at a low level? Can't they be forbidden to buy them? Some of the leveraged accounts caused by the stock market crash have caused the loss of the relevant financial institutions. Who will bear the responsibility?

The decline caused foreign media and some financial institutions to empty the Chinese stock market and trigger a fall in the RMB exchange rate. How should this result be handled? Insurance companies (especially state-owned insurance companies), and state-owned large brokerages, and large public fund companies, whose market capitalization will inevitably suffer losses in the stock market's decline. Will they welcome the decline of the stock market or will they curse?

Fifth, the investment in pension is not the main purpose.

In China, it is difficult to do practical things. It is certainly a good thing to have some achievements. But once mistakes or mistakes are made, there are bound to be all kinds of stupid media and public knowledge jumping up and down, and making a lot of abuse. For example, in the past few years, the investment of CIC in overseas, as long as it is a temporary loss or fault, is bound to be widely reported. The stupid people who do not know the truth will follow suit and criticize it, but there has been no report on the loss of profits.

It is undeniable that in recent years, China has a strong tendency to be manipulated by foreign foundations.

The Ministry of Railways has done a lot of work. It was only an accident involving a motor car, and it was not a high-speed rail accident.

Under the so-called "high salary" of state-owned enterprises, the salaries of top executives of state-owned enterprises have dropped dramatically.

The president of the ICBC is only about 600 thousand yuan in annual salary before tax, but if these executives jump to private enterprises, the salary is easily N jump.

In this environment, a large number of local pensions depreciate year by year in the low income of bank deposits, that is, they do not invest in the market.

Even if it is true.

Market, in order to keep the job, and for future career, it can be more determined that policymakers will not invest in the stock market on a large scale, no matter how low the stock market falls, the chances are good.

As a Chinese, we should understand this national condition.

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