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综观全球资本市场的历史,你会发现,股市泡沫破灭之后对经济也没怎么样。这与房地产市场泡沫破灭对经济的致命影响完全不同。股市泡沫破灭之后,最显著的影响是财富分配效应。那些在牛市后期买入股票的投资者的资产将显著缩水,赢家则是在高位将股票卖给他们的人。财富就这样完成了转移:前者用真金白银
Looking at the history of global capital markets, you will find that the economy did not look good after the stock market bubble burst. This is completely different from the fatal economic impact of the real estate market bubble burst. After the stock market bubble burst, the most significant impact is the wealth distribution effect. The assets of investors who bought stocks late in the bull market will shrink significantly, while winners will be the ones who sell their shares to high places. Wealth thus completed the transfer: the former with real money