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其实,我们不用分析央行在公开货币市场上如何操作,就可以判定中国正在进入一个资本过剩的时代。城乡居民储蓄存款余额是一个最简单的指标,20％以上的年增长率远远超过宏观经济的增长速度。把这些银行存款分流进股市,一直是专业投资机构的梦想。 造成国内银行存款不敢进入股市的主要原因,是证券投资在国内缺少赚钱效应,相反赔钱效应却非常明显。为什么会这样呢?也
Actually, instead of analyzing how the central bank operates in the open money market, we can conclude that China is entering an era of excess capital. The balance of savings deposits of urban and rural residents is one of the simplest indicators. The annual growth rate of more than 20% far exceeds the growth rate of the macroeconomy. The diversion of these bank deposits into the stock market has always been the dream of professional investment institutions. The main reason for the inability of domestic bank deposits to enter the stock market is the lack of money-making effect of securities investment in the Mainland. On the contrary, the effect of losing money is very obvious. Why is it so?