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761. Will the market get worse in the second half of the year?

"Since you think you can't find the answer for a while, you might as well think while applying (university). Didn't the ancients say, 'The road is long and arduous, and I will search up and down'? If you really can't figure it out, at least choose a major that you are interested in now. If you are not interested in it, you will most likely not be interested in the future. If you are not interested, it may be difficult to persist in completing a German university."

"What about you? Have you decided where to go?" Wang Shunan's face seemed to be a little rosy than before, "Are you still professional in economics?"

"Although it is not as good as medicine and law, economic majors have become more and more popular in Germany in recent years. Not to mention the restrictions, I have not yet decided to wait, and I am not sure where I can go in the end. Now it seems that I can go wherever I can apply to (university) and my body is like catkins and swaying with the wind." Dong Qiangqiang made a calm expression as he was.

"You are too modest. I always think you have a lot of ideas. It should be fine if you don't study economics and other (professionals)." Wang Shunan mistakenly thought that Dong Qiangqiang was not ideal in the exam, and comforted him, "You have to apply more."

"Haibao is a must. At least I have to invest all the notarized materials I have written. As for the result, I can only leave the fate of the people." Dong Qiangqiang said half-jokingly and half-seriously, "If no one wants it, I will stay and work as an illegal worker. I have to save more money before leaving."

"Then I wish you... Oh no, I wish us all good luck!" Wang Shunan stared at Dong Qiangqiang's face, "The mountains are high and the rivers are long. If you change the city, it may not be easy to meet again. Make a call when you have time."

"The same to you!"

"Hug it?" Wang Shunan's face was as hot as burning charcoal, but she was not conspicuous because of her dark skin.

"Um?"

Before Dong Qiangqiang could react, Wang Shunan had already opened his arms like a bird who was about to fly, and tiptoed to hug his waist.

Dong Qiangqiang had no choice but to bend down and hug her shoulders.

"I'm glad to know you." Her voice was soft, "Take care!"

"Oh OK. So are you." Dong Qiangqiang looked at the classmate behind Wang Shunan with a blushing face, showing a shy and awkward smile.

Preparatory parking lot.

Dong Qiangqiang didn't know why Wang Shunan suddenly made such a move. He hesitated whether he should mention this matter to Du Lan, and was worried that if he didn't explain it well...

He gave his parents a good news. As always, Dong's father conducted a critical education, requiring Dong Qiangqiang to look at things in a long time, and his eyes should not be limited to a small master's degree. He should have lofty ambitions and aim for a doctorate or even a postdoctoral fellow (Note: Dong's father did not know that postdoctoral fellows are neither a degree nor a professional title, but just a teaching system).

Compared with Dong's father's unrealistic, Dong's mother seemed much more pragmatic. She asked her how she was concerned about where her son would go to study next, whether she had enough money to spend, whether she had any difficulties or resistance in study and work, and whether she was looking for a girlfriend now, and no long-term questions such as how long she would graduate from a master's degree and whether she would return to China after graduation.

Dong Qiangqiang was worried that Dong's mother would touch Qin Youbo again, and said that she would apply to college in the afternoon. Then Dong's mother hung up the phone reluctantly.

As soon as he started the car, two figures strode out from the main entrance of the preparatory department one after another. The person in front was Qu Shan, and the person behind should be her boyfriend named Fu Boning, judging from her height.

The two seemed to have had an argument, and they spoke fiercely while gesturing. Suddenly, Qu Shan threw something to the ground with anger. Seeing this, Fu Boning stepped forward and pushed her hard. Qu Shan was pushed to the ground. Fu Boning pointed at her and scolded her a few times before leaving.

Dong Qiangqiang didn't know why the two quarreled, so he wanted to get out of the car to help Qu Shan, but then he thought that when he encountered such a thing, he would know how embarrassing it would be. It would be better to have less trouble than to have more things. Thinking of this, his hand that had already taken the car door and retracted back.

The next day, Dong Qiangqiang put 12 notarized materials, copies of the preparatory diploma stamped with the preparatory official seal, and the study application form of 12 universities into 12 kraft paper bags, then pasted the full stamps, and then drove to the post office.

In order to prevent it, Dong Qiangqiang chose three universities in the eastern region as the guarantee, namely the University of Berlin, the University of Leipzig and the University of Technology Dresden. The remaining nine are located in northern, central and southern Germany respectively. Among them are two schools recommended by Tong Lele, as well as other universities with relatively strong economic majors, such as the University of Bonn, the University of Freiburg, the University of Frankfurt, the University of Mannheim, etc.

When the car drove outside the post office, a rain cloud floated from the sky, and it stopped above the post office without any bias.

According to Dong Qiangqiang's experience, the summer rain in Hanover usually comes and goes quickly, and it will usually stop after 10 minutes. Therefore, although he did not bring any rain gear, he was not in a hurry. Anyway, the post office was closed early, so he might have stopped after waiting patiently for a few minutes.

The clouds are light and dark, and occasionally a ball of white light will appear and then fleeting. The light and shadow will be unpredictable. Only after a moment can the thunder be heard.

Dong Qiangqiang slightly lowered the back of the chair, trying to relax himself, allowing his thoughts to spread like rainwater pushed away by the wiper.

The German DAX30 index has fallen from 4100 points at the beginning of the year to around 3200 points in July, with an astonishing decline. If the DAX index further declines in the future, perhaps he and Duanmu should consider adding more funds to purchase put options in the index. Of course, as an important index of the top 3 in Europe, the put options in the French market index must also have to buy a little more. The only question is, will the markets in these two countries have more room for decline in the future? Or should we ask, will Germany's economy become worse in the second half of the year?

This question is actually like asking whether the US economy will become worse?

He thought carefully in his mind that the US financial market in the past two years can be described as a terrible thing: the Internet industry bubble burst in early 2001 (Dong Qiangqiang worked in an Internet company before going abroad and was deeply touched), and the Nasdaq, which has many new Internet companies, collapsed directly, giving the US economy a blow, which was the first blow. When a group of investors had not yet woken up from the hit, they bumped into 911 again, and the second blow. 91.

1 The aftermath has not yet expired, and the story of Anran’s fraud has been revealed, which has opened the curtain for successive explosions of US stock companies. Since 2002, the frenzy of fraud has swept the entire US stock market. Since then, the three major U.S. stock indexes have no peace anymore, which is the ultimate blow (Note: The Nasdaq Index fell the most from 2001 to 2002, and the listed companies in the S&P 500 Index are mainly traditional American companies, and its index decline is far lower than that of Nasdaq).

It just corresponds to the lyrics: One wave has not subsided, and another wave has come to invade again.

Under this situation, the so-called economic recession is actually tantamount to an economic crisis.

The prediction of economic recovery given by Wall Street is 2-3 years. Of course, this is based on existing data and will be dynamically adjusted in the future.

The implication is that it may be worse in the second half of the year.

Europe, which is separated from the United States, is focused on being vigilant and guarding against the negative impact of the US economic crisis, but global economic integration has made every country no longer an isolated island, so it is only a matter of time before it reaches the European continent.

As Europe's largest economy, Germany exports automobiles, machinery, chemicals, medicines, metals and other commodities to the world all year round, while the United States is its largest export partner.

As the biggest export partner weakened, Germany's various economic data began to become unsatisfactory.

Since Germany has been firmly following the path of industrialization after the war and did not fully cultivate and support Internet companies in the 1990s like the United States, the stubborn Germans firmly believe that there are neither as many bubbles in the German economy nor companies that are financially fraudulent. Germany, which governs the industrial country, has only encountered an economic downturn, far from the tragic situation of economic recession or even economic crisis, and is incomparable to some small countries next to the Mediterranean.

Having said that, the Germans knew that they did not immediately fall into an economic recession because of their wealth. In time, no one can guarantee that Germany will not be dragged into the quagmire by the United States.

The United States is becoming more and more like an old horse trapped in a mud. Although it keeps trying hard to get out its hooves, the mud bar pulling it to the bottom of the pit is too strong, and the edges of the mud pit are slippery and cannot rely on the force. It is not easy to leave.

With the lessons learned from the past, various German departments have tried their best to stimulate the economy, but the most important financial sector is unlikely to achieve great things in the short term.

Due to the formal use of the euro, the German Central Bank, namely the Deutsche Federal Bank, no longer has the right to mint coins, and the right to mint coins has been firmly controlled in the hands of the European Central Bank. Although the European Central Bank's headquarters is in Frankfurt, stimulating the economy by increasing the issuance of currencies, i.e. "Helicopters Spreading Money", does not conform to the usual style of the European Central Bank and the Germans. The managers of the European Central Bank believe that economic recession and economic recovery are not achieved overnight, and there will be consequences for each cause. Before finding the real reason, we should not blindly start with the amount of currency.

If the European Central Bank does not intervene, it means that the economic recession may be widely present for a long time, and every country in Europe will inevitably guard against it to prevent its own economic recession from turning into a complete economic crisis.

Dong Qiangqiang has studied Western economics and knows that there are many indicators to measure economic recession, such as the level of economic vitality, the increase or decrease of unemployed people, the degree of deflation, etc.

In order to study waste disposal, he paid money to become a member of the Lower Saxony Environmental Protection Industry Association. Judging from the information that the association regularly learned, the number of environmental protection companies in Lower Saxony that went bankrupt this year was zero, and many newly established environmental protection companies joined the association. Although the new companies are generally not large in scale and are not low in activity, Dong Qiangqiang rarely heard that they cannot apply for bank loans or government subsidies. If you can see through the guidance, the economic vitality of German small and medium-sized enterprises does not seem to be affected too much by the United States.

Speaking of the changes in the number of unemployed people, Dong Qiangqiang felt more. Whenever he passed by the door of the Labor Bureau or a different working agency, he could always see the work-seeking team lined up outside the door. Among them, there were also Germans dressed in bright clothes and carrying briefcases. Before going abroad, he thought that Germans would not be unemployed.

As for prices, from January to July, various commodities in German supermarkets have been in abundant supply, and the price level has remained stable for a long time. Dong Qiangqiang has been drinking a brand of fresh milk for a long time, and the price of gasoline or diesel has changed even less. The European Central Bank has not issued any notice of additional currency (if there are reports in newspapers), and there are no clues of inflation or deflation in the market.

Although his personal observations are contrary to German economic data, it seems difficult to tell whether the market will rebound or leak in the future, his intuition tells him that the DAX index will continue to decline.

He vaguely felt that the biggest gain he gained from this economic crisis was not the return on money, but the basic common sense of investment: once a similar economic crisis occurs, you must buy put options on the index as soon as possible.

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Chapter completed!
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