美国次贷危机论文

The subprime mortgage crisis

The U.S. subprime mortgage crisis says the subprime crisis, also translated into subprime mortgage crisis. It is an occurrence in the United States, because subprime mortgage lenders bankruptcy, investment funds being closed down, stock market caused violent shake the financial storm. It causes major global financial market liquidity shortage of crisis. America's "the subprime crisis" from 2006 spring began gradually revealed. In August 2007, started across the United States, the European Union and Japan and other major world financial markets. The subprime crisis has now become one of the hot issues of international.

For American financial crises, general attitudes are considered, the crisis is mainly caused by the lack of financial regulatory system. The root cause of the crisis in the United States for nearly thirty years to speed up the implementation of new liberalism economic policy.

The new liberalism, is a set of traditional liberalism in Renaissance ideal. In order to reduce government intervention in the economy and society for the main economic policy goals trend. Content mainly includes：reduce government intervention in financial markets. pushing promoting consumption. with the high consumption of economic policy to pull tje high-growth.

一、To promote economic growth and encourage crazy spending.

Liberal economics theory has always attached great importance to promote production and by consumption of economic development. Adam Smith says "consumption is the only home and all production purposes". They think luxury consumption on the surface promoted the production.

二、Social imbalance, the distribution relationship middle-class incomes decline.

Nearly thirty years, American society exists a curious phenomenon, On one side is the U.S. civilians deficit spending, On the other hand, the common people's income has been a trend of decline. According to statistics, after deducting inflation factor later, the American average hourly wage with only 35 years ago, and a flat for more than 30 years old man's income is the same age 30 years ago, low by 12%. Economic development efforts more inflows to the pockets of the rich. This for decades the United States the income gap between rich and poor continues to expand. The U.S. economy is developing rapidly, but income but no growth

三、the financial industry a serious lack of oversight, entice ordinary people by borrowing deficit spending, entering the market speculation.

The new liberalism is an important content of deregulation, including financial regulation. Since the early 1980s after Reagan administration, the United States has been through formulate and revise laws, to relax restrictions on financial industry, to promote financial liberalisation and the so-called financial innovation.