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原帖由 balachiDavis 於 2008-10-8 05:56 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
0 u; H9 ?3 X/ X# \1 JWhy bank will sell 借據給第三者???/ z& P# _- `$ [" Q7 A
I was so confused.....
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講到尾都係賺錢
) I6 h) Q+ G2 {1 k' Q% zso銀行可以不斷放款
' u* x" D. j  o) ?- r, l( V6 V# ~美國的房貸問題散佈到全世界2 B  G- _" w3 M6 @
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mortgage loan
6 O, A; u) |6 p* Z>conduit2 \7 b, N6 M0 ]9 s' ?" C! S, S4 L1 l
>RMBS(Residential Mortgage Backed Securities)
! u1 h7 U5 x2 Y$ I/ A" E9 [% t>arranger
2 s2 T- E1 B6 G6 C) g; ]6 G>CDO(Collateralized Debt Obligation)
- q) w" R+ a' d最後去到投資者
i thought it is the reason of rate of return.
3 m) _& X# @3 Z8 l. {! nCDs could have different ratings, AAA -> F,
/ C3 f9 ?+ f! P  X- ~. L: N9 Wmore risky ones would have higher premium (interest rate) as a compensation for an investment.
' J/ ]- }" w; Q1 w% n3 bmain reason why ppl buy those risky CDs is because the rate of return exceeds their internal rate of return,
; m9 r- @- l% |$ C3 ^in other words, the interest rate of that investment > their required interest rate, therefore they invest in those securities.$ e' W3 G1 s2 H+ i* I
Also, fund managers would include risky assets in their portfolio for different purposes, eg efficiency.
% g* d2 z, R5 Asimilar to bonds, CDs trading in the secondary market have different value at different times,
" q- o) l: R, Z+ n# o* L9 k) snormally the value is calculated by adding it's principle and interest.
) [8 p7 E  y$ ueg. the value of the mortgage+the interests to be recieved in the future.
" V6 [4 M4 w3 L2 P, H" m8 Z1 B' tbanks who sell the CDs, could enjoy a few benefits like, the present value of cash and passing the risk of holding a debt to another party.
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" C3 n) I) `5 ^6 @& z, r5 Lim not quite sure if the multiplier effect does really matter in this case.( Q7 ?8 n2 T% p5 X* d
in stock market, it's the demand and supply pushing the price up/downwards.
" z  |) X) |' {, U8 b4 WFor eg, A bought 10000 shares @10$ ; B sells 20000 shares to C @ $12," J% a: U6 ^* e$ t
A's shares would suddenly increase to $120000 from $100000 which does not invlove any $ transaction.
9 n- A6 p' Z2 j8 NThe capital loss that ppl suffer nowadays, i believe, most of them does not really suffer a real $ lost yet as long as they dont sell their securities.
. N; Y! \8 S9 d$ z. x3 ]: Rbut the value of their assets did really drop significantly.
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[ 本帖最後由 Kev 於 2008-10-8 07:26 PM 編輯 ]
原帖由 balachiDavis 於 2008-10-8 04:09 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
* x* k+ h$ Q7 A( u# k0 kRefer to last example,3 L4 C( L7 u/ w( H7 F
that means bank A have no money because we borrow 10 dollars from bank A
- {. L* ?) t3 \- jBecause bank A doesnt have enough cash on hand
8 c% R5 G5 I8 V2 W: Ktherefore bank A need to be bankrrupt ??? Am I right ?? ...
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, c: O# W0 V0 \' \3 LA->B->C->D->E" U- R$ R$ e! p/ g
so does it mean if E failed to pay D, - n, A. W# @4 P0 c4 }
all the B,C,D,E have to go bankrupt?" m  o; s2 D5 H$ Q- p

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. p" g, v& t3 O; G0 I/ Mthe multiplier just tell how much money created in a whole economy,
1 A& Y2 l+ O5 V4 ~in this case it doesnt really matter how much money is created, 9 I, e+ J$ o, a7 O
it's the problem of the debt itself.
, R7 c' r7 x$ f1 ^+ l/ ?4 pthe debt(securities) is bad, faulty, that harmed the whole system.
原帖由 kerr12ca 於 2008-10-8 02:44 PM 發表 http://www.26fun.com/bbs/images/common/back.gif4 B# l" Y* [& e
小弟一直都唔明...% A) M7 l+ t0 Q, Y* r9 b
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全世界都蝕錢,咁邊個賺緊錢呢?8 Z' W. I4 d" d

! I( j: i: L6 ?2 S& [無可能淨係有人蝕錢無人賺架嘛...2 y% k: P( `( H( u9 ]
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敬請各師兄解答
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2 [5 Z3 o- b7 q' jThanks
9 }; }' i2 M3 d3 h+ d6 o/ l; }那些根本係 紙上財富  ( I8 n1 d+ i# ~5 C  s
各式各樣的證券被炒到上天 你一樣唔賣那筆錢永遠都不是真的存在
with regards to the current crisis, Chain of fools does a reasonable job of explaining what happened with a nice graphic
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8 ?8 E, M) M5 P, e6 U7 K5 [http://www.thedeal.com/newsweekly/images/100608_NWleverageFloChrt.gif
其實個D錢係你可以當係虛擬資產
7 n/ c1 S& @. s8 _. J- C! w& T當經濟好,投資銀行相信會賺錢, 物價既估值相對較高9 N2 }' G. x  z, I
於是投資銀行就去搵銀行抵押借錢投資, 打個比喻1蚊既野借10蚊! q) S5 g4 G8 s! }, F* V
個件物價係市場好既時候升, 例如15%先算,變左12蚊啦
2 H% }8 j2 w8 Y$ c- c3 Q扣番利息當10里, 咁公司都可以賺左11.5-10(1.1)=0.5蚊,
1 m0 V) p% P1 y/ T5 A計番回報率就已經係50%,所以可以好好賺
% T  r  [' \- g2 G: y5 \8 D- A前提係銀行之間要互相信任先可以咁樣借法. ~# R' i, K* d/ v. y
同埋個市場既前境要係好先得9 H7 ]6 O% L$ b5 s0 t. P* w% p
但當經濟一差,公司估值趺了,物價不升反趺% q! r- N+ _9 D, c7 D% I
例如剛才說10蚊的, 趺到得番9蚊,
% g( I9 K1 W# X咁投資銀行一下子就要還11蚊, 一來一回變左虧200%
1 Y5 [& W$ R9 O' U4 f2 V3 D所以你就會覺得D錢好似蒸發哂咁8 t; E# T9 w" D' q
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你都可以當標野咁諗, 個樣野多人可以狂升值,
& y, f! _2 d# F+ F  D- U1 I但當冇人要既時候一蚊都唔值...中間D錢其實真係冇人話賺左~
唔係d錢蒸發, 而係比美國佬洗晒未來錢, ( p3 `& z9 e2 j9 L: \
淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒,
7 \9 f. p% c) g( V, W8 l. M$ T呢刻樓市爆, 原本冇錢買樓既, 又係問銀行借但又唔留錢供, 既然冇錢還比銀行
0 m4 w4 {; g1 O8 f, \" j咁你話d錢蒸發左去邊?
原帖由 kuru 於 2008-10-12 05:08 PM 發表 http://www.26fun.com/bbs/images/common/back.gif
6 @, O; U) b0 L! P) ^  ^唔係d錢蒸發, 而係比美國佬洗晒未來錢,
1 o$ t% c3 f( f( I6 k淨如你簽左卡, 呢刻爆卡,咁d去晒邊?咪之錢用晒, # v" X# T* }" U, ?7 B! D
呢刻樓市爆, 原本冇錢買樓既, 又係問銀行借但又唔留錢供, 既然冇錢還比銀行7 H! M0 E% {6 f& d- c8 Q5 J
咁你話d錢蒸發左去邊? ...
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正係咁樣
( ?% G3 P( u5 d$ v' y8 @: m其實, 以個人立場去睇, 美國好多市民都唔怕銀行/財務/投資公司結業
& h5 \- L) V) g分分鐘佢地唔使還錢
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再講, 美國人先洗未來錢應該係世界第一, 唔知點解無錢都可以買咁車買樓,# y' a" ?* |3 K7 `! V& N
連國家都係問人借, 不停發債券, 印鈔票% I6 f6 T$ T: I1 u
一個國家好少出口, 而又大量入口 ,反映到佢唔多生產; t6 H* S1 q- V
編編唔生產又使用物品使用得最多, 美國就係咁既情況
咁而家"爆哂煲"算唔算先至係變番"正常"???
原帖由 Jk 於 2008-10-22 02:15 AM 發表 http://www.26fun.com/bbs/images/common/back.gif
. c, O3 @& l" z; F9 o咁而家"爆哂煲"算唔算先至係變番"正常"???
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; E# n9 G- s$ j其實係...5 x$ n5 _& w& E" ^
因為以前未生產, 先消費
! Q5 j% w# y  j% D8 H0 e而家就要多生產, 少消費
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