Saturday,Aug 1 2009, 01:22:03 AMWHERE I AM !

Things go back to be regular this day. Everyday I go to the office for three hours on the morning and five till night. It seems right now. Being rule is good for me. Before that I usually spent the whole day in the dorm. It’s much comfortable there alone and I could do anything I liked. Being naked or without shoes. The whole room belonged to me. But I could not control myself not to do things bad. That’s very terrible. Time was wasted day after day.

 I went to the office to send the documents yesterday. Things just feel great there, just back to the old times. Being busy and routine. A voice was calling me from the soul. I should bring the PC to be one of them. It’s quiet but not lonely. There is somebody around you, so you get company in the soul not only on the body. You can talk if you like. That’s very different when you want to talk but there is nobody around.

The satisfaction from my body is great. Just because I finish some study everyday not playing only. I know that’s me. I can not bear busyness everyday, as the end time of a term. At the same time, I can not bear being free and having nothing to do. It’s ok just for a while, I mean a week. But things go bad surely. I need to have things in hand and do them regularly. I know these things are what I want.

Saturday,Apr 25 2009, 02:36:43 PMThe Economic Crisis: Starting From the Consumpti..

The most popular topic talked by people all over the world these two years are the “crisises”: subprime mortgage crisis, subordinated debenture crisis, financial crisis, economic crisis……Everyone, from different countries, from different vocations, concerns the crisis and the crisis affects their lives deeply. But do all of us understand it thoroughly and exactly?

What’s the global economic crisis exactly meaning? How badly is it influencing the global economy and people’s life? What are the people of different nations doing to it? And to be simple and fundamental, what on earth resulted in the crisis?

There are arguments about the causations of the crisis. Apparently, it is the American banks largely providing the house mortgage loans to the borrowers with low credit that caused the crisis. However, the subprime mortgage loan is not the only reason. The recession of the American house market and the increasing of the lending rate are the direct impacts. Most people know those! But is it possible that this financial crisis starts in China or other Asian countries? I think the answer is “no”!

 Let’s go on this topic! Why did the crisis begin in the U.S.? Why could the American financial crisis spread globally ultimately? The second question is not the one I concern here and I’ll try to answer the first one. There are many factors inducing the crisis. But there is a basic one in my opinion, what is the core, which caused the crisis step by step: the American consumer behavior!

 There are a story between an American old woman and a Chinese old woman we talked a lot to mention the difference of the consume behavior of the two nations. That’s the exact factor of the crisis causing! How did the subprime mortgage loan happen? Because American people enjoy a high standard living condition! Because they are too optimistic to their economy and never worry too much about the future! Because people in the U.S. pay more attention to the current life! They spend the most money they have quickly. It’s reported that the average deposit ratio is only 1% in a long time in the U.S., much lower than China, this data is nearly 50% and Japan, the data is 30%-40%.

When the ones who earn such a low wage that they can not afford a high standard living (they want that level, however), then they will borrow money from the bank. It’s so common borrowing money to consume in America that it has been a culture: the culture of living on debt. Most families in the U.S. have more than one credit card, the ratio is 70%. And of 90% of those people use the card as the tool of managing their earnings. From the data reported by McKinsey Global Institute the American credit card market had grown to the amount of 970 billion dollars in 2007.

 To learn this opinion more intensively, we should see more data provided by the McKinsey Global Institute as well. During the past twenty years, the sum of the national and the private debt in the U.S. grew sharply, the sum-to-GDP ratio is 356%. However, the ratio was only 155% at the beginning of the 1980s. The same trend to the household! In 1990, the ratio of the debt to the income for the general household was about 75%. What happens today? The number is 130%! Just in 2007, the amount of the household debt has grown 2.5%, more than 14 trillion dollars in all.

 Now, I can answer the question, “Is it possible that this financial crisis starts in China or other Asian countries?”, with more confidence than the beginning. From the analysis above, we at least can see clearly that American consume behavior is the fatal factor of causing the crisis. More than that in my opinion, it’s the radical cause. It means that, there are many reasons that the experts insisted and all the reasons can attribute to a basic one, and that one is the American consume behavior. In the American culture, people take the enjoyment from buying as the most important thing of life. They pay more attention to the physical possessions. Beyond, the ahead of consumption is accepted and advised. It is the exact consumption values that caused the crisis around world finally.

Under the direction of American consumption values, people are encouraged to borrow money from the bank. People with the American consumption values consider living-by-debt is acceptable and enjoyed. Young people who grow up in the American culture are more careless about paying their debt and pay more attention to current life. People choosing the American consumption values are more confident with their future.

The special consumption values are the basic cause. The values are expanded and enlarged when the economy has an optimistic expectation, especial the house market. People eager to get loans by mortgaging their houses, no matter they may not get enough income to pay the debt one day. And with the growing of the demand and the expansion of the market, the bank and other finance organization find the opportunities to earn money. As we can see, the banks and other financial organizations are under the indirect affections of the consumption values. Once one part of the chain is cut off, (the house market recession began, for example), the disaster begins and can not be stopped easily. That is the crisis!

Before ending this speech, I want to emphasize my point again. It is the American consumption behavior, the ahead of consumption especially, caused step by step the global economic crisis which is concerned by people all over the world. If we find the root of the crisis, we may avoid the same kind one in the future.

Saturday,Apr 25 2009, 02:36:19 PMThe Economic Crisis: Starting From the Consumpti..

The most popular topic talked by people all over the world these two years are the “crisises”: subprime mortgage crisis, subordinated debenture crisis, financial crisis, economic crisis……Everyone, from different countries, from different vocations, concerns the crisis and the crisis affects their lives deeply. But do all of us understand it thoroughly and exactly?

What’s the global economic crisis exactly meaning? How badly is it influencing the global economy and people’s life? What are the people of different nations doing to it? And to be simple and fundamental, what on earth resulted in the crisis?

There are arguments about the causations of the crisis. Apparently, it is the American banks largely providing the house mortgage loans to the borrowers with low credit that caused the crisis. However, the subprime mortgage loan is not the only reason. The recession of the American house market and the increasing of the lending rate are the direct impacts. Most people know those! But is it possible that this financial crisis starts in China or other Asian countries? I think the answer is “no”!

 Let’s go on this topic! Why did the crisis begin in the U.S.? Why could the American financial crisis spread globally ultimately? The second question is not the one I concern here and I’ll try to answer the first one. There are many factors inducing the crisis. But there is a basic one in my opinion, what is the core, which caused the crisis step by step: the American consumer behavior!

 There are a story between an American old woman and a Chinese old woman we talked a lot to mention the difference of the consume behavior of the two nations. That’s the exact factor of the crisis causing! How did the subprime mortgage loan happen? Because American people enjoy a high standard living condition! Because they are too optimistic to their economy and never worry too much about the future! Because people in the U.S. pay more attention to the current life! They spend the most money they have quickly. It’s reported that the average deposit ratio is only 1% in a long time in the U.S., much lower than China, this data is nearly 50% and Japan, the data is 30%-40%.

When the ones who earn such a low wage that they can not afford a high standard living (they want that level, however), then they will borrow money from the bank. It’s so common borrowing money to consume in America that it has been a culture: the culture of living on debt. Most families in the U.S. have more than one credit card, the ratio is 70%. And of 90% of those people use the card as the tool of managing their earnings. From the data reported by McKinsey Global Institute the American credit card market had grown to the amount of 970 billion dollars in 2007.

 To learn this opinion more intensively, we should see more data provided by the McKinsey Global Institute as well. During the past twenty years, the sum of the national and the private debt in the U.S. grew sharply, the sum-to-GDP ratio is 356%. However, the ratio was only 155% at the beginning of the 1980s. The same trend to the household! In 1990, the ratio of the debt to the income for the general household was about 75%. What happens today? The number is 130%! Just in 2007, the amount of the household debt has grown 2.5%, more than 14 trillion dollars in all.

 Now, I can answer the question, “Is it possible that this financial crisis starts in China or other Asian countries?”, with more confidence than the beginning. From the analysis above, we at least can see clearly that American consume behavior is the fatal factor of causing the crisis. More than that in my opinion, it’s the radical cause. It means that, there are many reasons that the experts insisted and all the reasons can attribute to a basic one, and that one is the American consume behavior. In the American culture, people take the enjoyment from buying as the most important thing of life. They pay more attention to the physical possessions. Beyond, the ahead of consumption is accepted and advised. It is the exact consumption values that caused the crisis around world finally.

Under the direction of American consumption values, people are encouraged to borrow money from the bank. People with the American consumption values consider living-by-debt is acceptable and enjoyed. Young people who grow up in the American culture are more careless about paying their debt and pay more attention to current life. People choosing the American consumption values are more confident with their future.

The special consumption values are the basic cause. The values are expanded and enlarged when the economy has an optimistic expectation, especial the house market. People eager to get loans by mortgaging their houses, no matter they may not get enough income to pay the debt one day. And with the growing of the demand and the expansion of the market, the bank and other finance organization find the opportunities to earn money. As we can see, the banks and other financial organizations are under the indirect affections of the consumption values. Once one part of the chain is cut off, (the house market recession began, for example), the disaster begins and can not be stopped easily. That is the crisis!

Before ending this speech, I want to emphasize my point again. It is the American consumption behavior, the ahead of consumption especially, caused step by step the global economic crisis which is concerned by people all over the world. If we find the root of the crisis, we may avoid the same kind one in the future.

Wednesday,Jul 16 2008, 06:56:26 AMi am in qingdao

i have been in qingdao first time. it's so beauty as heared from others. it rained strongly last night. we went to see the sea. it's a special experience. 

Tuesday,Jun 24 2008, 10:37:58 AMI AM GRADUATED

I'm so glad! I graduate from the university successfully and get a bachelor degree of engineering! Today I get the certificate from Mr. President. He take a photo with me. All are so interesting and amazing. Through the past four years, I have done a hard work to get high exam achievements. It' sometimes boring  actually.Although the result is not the best, I try my best. I'll go on a Master study in this university in next three years about a very different major(It's economy in fact）I must try my best as the past four years to get through and there're no other way. Er, good wishes for myself.