Although the increase in gasoline prices still remains in the guessing stage, but the author is already thinking, if the gasoline really rose to 7 yuan a liter, I should give up the car, instead of taking the subway? When high oil prices become a burden, reducing the use or giving up is a realistic option.
We can even make more associations. Banks have bad loans because of the crisis of these automakers. Thermal power plants have suffered huge losses because of the high price of coal and oil. Airlines cannot afford high oil prices and continue to raise prices. Tourists have to give up. Travel plans, tourist attractions have become dismal...
Reagan once compared inflation to "as terror as a predator, scary as a gunman." The latest issue of the cover of The Economist magazine expresses the following theme: Food prices are soaring and oil prices are soaring. It seems that everything is on the rise – apart from housing prices.
The situation in the world tends to be consistent. 8% of inflation has caused Chinese residents personal pain. However, imagine that in synchrony with this, Russia’s inflation level is 14%, Argentina is 23%, and Venezuela is 23%... Globally two-thirds of the population are It suffers from double-digit inflation.
When the energy crisis of the 1970s approached, the countermeasures adopted by governments in various countries were price controls and government subsidies. However, contrary to expectations, the price level did not fall as expected, but instead caused the global economy to fall into a continuous recession.
We have no perception of the rise and fall of the world economy of that era, but now we have to face repeated history. It is difficult to deal with the contradictions of high oil prices simply from the perspective of market and economy. A bold idea is to immediately release the price control of refined oil and let the market decide the price of refined oil. Of course, the risk here is that many companies and residents feel powerless to bear and one-time increase in consumer price index. However, the good one is that synchronizing refined oil prices with crude oil prices will have a very good effect in curbing energy demand.
The most pessimistic view is that the global economy has irrevocably entered the recession cycle. From an experience point of view, no matter what kind of method is used to deal with oil prices, what countries can find can only be sub-optimal results, and cannot be the optimal result.
China’s problems should be better, but the specific response in the stock market is that if high prices represented by high oil prices cause the economy to fall into a full-scale recession, investors will find it difficult to make buying decisions in the face of declining profit expectations. . In other words, the entire basis of our market's advancement may be destroyed by high oil prices.
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