Essential oil aroma happy person, can relieve nerves, essential oil massage with more can make body and mind to relax. Essential oil to you understand? How to choose, how to use if you know? The air mild scent, let a person is very comfortable. Work pressure and fatigue are cumulative, into the sweet feeling. The mood relax after, head also follow lightsome rise, shoulder the burden of also put it down. Originally, breathing can massage, bottom pressure release. Want to use a bottle of essential oil to relax effect, rose, orange flower, lavender and jasmine, all is the best choice, can point in perfume lamp, or drop in the handkerchief, pillows. But because of the high concentration of essential oil directly,baseball hats cannot drop on the skin. If want to massage body, they must match again with vegetable oil dilution, or directly buy has deployment good massage oil. How to select essential oil? The sold essential oil quality as its price, is uneven. Whether perfume or massage, all want to use one hundred percent of the pure essential oils. Would rather not, also do not spend a little buy doping artificial chemical spice essential oil, not only because no effect, but also may be harmful to the body. * indicate 100% pure essential oils, this is the most basic requirements. * clearly marked a scientific name and essential oil. The average consumer is more difficult, but it is fang massagist attach great importance to the need to sign. * expiration date. The oil of essence of expired like expired food, metamorphic also changed flavour, may cause discomfort. * plant growing method and origin. Have the best, but if not, may yet. Because only a handful of essential oils will mark top so clear. * may not every kind of essential oil prices are all the same. Because of the different plants, plant extraction of how easy it is different, so if the oil of essence of stores are a single price, so the eighty percent is not high quality. * the fine varieties labeled the more professional. Because many plants have a lot of variety, every kind of effect is different, for example lavender can marked lavender, spike spend lavender, highland lavender...... DIY aromatic massage massage-1 the following action,polarized sunglasses collocation of essential oil massage best effect. If it were not so massage oil, just put his hand rub hot, gentle on technique also is very comfortable. Remember that a principle: relax and body, gentle and slow to every action and breathing. Single neck shoulder massage massage: oil on the shoulder even besmear neck small gymnastics. 1. Apply adequate amount of massage with essential oil in slowly open hand well. 2. Along the collarbone, before the bosom a word gash (3 ~ 5), then change to the other side. 3. The stroke by next upgrade neck (around each 3 ~ 5). 4. A hand on neck, both hands/buckle, using palms root gently massage pressure (5 ~ 10). 5. With both hands on the shoulder. Relieve pain caused by pressure formula of the oil of essence of muscle ache: ginger (or lemon citronella) 1 drop + benzoin 2 drops + roses geraniums 2 drops + 10 ml movement caused by excessive oils of muscle pain: lemon eucalyptus (or lemon citronella) 1 drop + rosemary 2 drops + marked 2 drops of lavender oil 10 ml +.
0 Comments
Moody's said it will in last week's debt after the summit to reassess the eurozone all the country's credit rating later, Europe's stock market crash. America's index futures also down, the only Asian equity markets appear to rise. Along with the European central bank denies its will improve bonds to buy guess, standard Stoxx Europe 600 index was down 0.1% in last week. "In a recent eu summit,baseball sunglasses and no get after substantial change," jpmorgan chase in London on strategic analysts M orris in yesterday's report, wrote, "with the European central bank to bank and sovereign state support, plus joint individual countries in the reform and the tightening of the progress of the scheme, will be decided in the next few months. How to change the market" Due in March of the standard &poor's 500 index futures in yesterday fell by 0.9%, and M SC I Asia Pacific index rose 0.5%. Moody's said it will at first quarter of the power to review all the countries of the European Union rating, because the summit meeting failed to agree on a decisive policy options to end the debt crisis.aviator sunglasses Review of the next year in the first quarter to finish. The German central bank President delay WeiDeMan tell Frankfurt, despite all the new agreement represents progress, but save Europe debt crisis in the responsibility of governments rather than the European central bank.
see more:Meaning Treasury yields refresh the eurozone record The IMF chief emphasis on international cooperation to deal with the debt crisis The us federal reserve board 13, announced that the United States has a faint signs the current economic recovery, which will be announced after the super loose monetary policy, for the time being, no longer come out with new monetary policy measures. The fed in the end the federal open market committee issued a statement after the meeting,nfl hats says that although the global economy have slow down, the American economy recently presented slowly spread momentum, the job market has been improved, but unemployment is still high. It points out that the American consumer sustained progress, but the enterprise fixed asset investment growth is slowing, the real estate market is still low, long-term inflation expectations remain stable. The federal reserve announced that it will maintain the federal funds rate at zero to 0.25% of the level at least until the middle of 2013 unchanged, to stimulate the U.S. employment and economic recovery. The federal reserve has said that, which will be announced in September to its balance sheet to "sell short buy long" and "reverse operation" of the warehouse decision, which plans to June 2012, sell the remaining term for three years and under $400 billion short-term national debt, and at the same time to buy the same mlb jerseys amount of remaining term is 6 years to 30 years of long-term national debt, and will continue to the agency debt and institutions due mortgage-backed securities before the principal investment policies, in order to buy more room and beauty, real estate institutions such as the issue of the institutions of mortgage-backed securities, to support the weak housing market.
see more:The European Union for the termination of IBM antitrust investigations The Chinese government will "transformation of the mode of economic development" in the strategic height of unprecedented, is expected to take substantive steps, this consensus decision-making has the next five years development in China has clear strategy in the present. On October 27 late, the central committee of the CCP about the national economy and social development made 12 of the five year plan proposal "said of the proposal) published the full text. ZhanDou the literature, it is not hard to find, "transformation of the mode of economic development" which have become the thread of the total. As a way to change the main attack direction of the, of the proposal put forward for the first time, "further release of urban and rural residents, and gradually make the potential demand in the overall size of the domestic market in the world." This program will China expressed by the "world factory" development is "the world market" ambition, its connotation is worth attention devotedly. No doubt, whether to change the mode of economic development,New Era Hats not only is "the world market" successful completion of the precondition that implementation "1025" planning of the key. By resources into and export demand of driver extensive growth mode, to the technology progress and efficiency improvement of intensive development mode change, already the delay. As is known to all, economic growth is too extensive planned economy left ill, people are going to be analysis and recommendations. As early as in 1996, the eighth National People's Congress through the "ninth five-year plan, namely" to realize the economic growth mode transformation from extensive to intensive "to identify as the basic tasks. In 2007, the CPC put forward again, to "accelerate transformation of the mode of economic development", two word the change, know to deepen, meaning more abundant. But unfortunately, the change process is not as a world of the extensive style of economic growth mode so far no fundamental changes, the most remarkable performance is economic development relies excessively on investment. Consumer absolute although have strong growth, its weight in GDP has been not significantly enhanced. The export-oriented trade way is to provide the hundreds of thousands of jobs, make China become a remarkable "world factory,", China is also paid a heavy price: invisible inflation, labor disputes, environment pollution, international trade friction, and so on, and is of Tennessee. The original growth way clearly unsustainable. But, someone is betting that it can breathe stiffly, contribution "heat". New and old models between "tension," has become China's economic and social problems today one of the source. This time, the proposal of "transformation of the mode of economic development" unprecedented in the strategic height. Many observers at home and abroad, points out that the Chinese government is "serious", the switch pattern is expected to take substantive steps. This judgment is the largest according to China has agreed in decision-making, and consensus from basic strategic judgment: this international financial crisis has to make China's economy is the external environment of permanent change, must be in the eyes, look for alternative demand. In other words, the crisis on the surface of the impact of the growth rate is, in fact, is the way the impact on growth. Crisis DaoBi development way conversion. Realistic conditions also provide the objective way to turn conditions and power. At present, China's urbanization speed expansion of service industry, consumer upgrades, there are large space of domestic demand. Review of the history of China, it is not hard to find, external pressure and internal dynamic unification is necessary for success. Now, the transformation of the mode of economic development, it may be said climate, geographical and and an aptitude for. Therefore, China must be exact "holding its own in the global economy, create new orientation of international competition and cooperation of the new advantages". We should not only keep manufacturing power position, and to become "the world market". If successful transformation, will the Chinese and foreign and: in the past, and can help alleviate Chinese and foreign economic and trade disputes, boosting the world economy to balance; Far, become China's economy, the global economy an inexhaustible motive force for long the engine. The new role should not, don't have to also won't replace the old role, but both are to be constantly updated connotation, and supplement each other. However, the transformation will not happen automatically. Past slow development mode change, also is not completely owing to ideological understanding. "One change makes all change" turn way, relates not only economic system, also requires political system, the social security system and other fields of reform coordination. As of the proposal says, "reform is to accelerate the transformation of the mode of economic development power, must with greater determination and courage to promote the reform of the field. Pay more attention to the reform and the overall planning of top design,NBA Jerseys clear priorities and reform key tasks." Reform focus very much, and people have pointed out, the extensive growth mode from the most important obstacle, is the government at all levels to too much power allocation of resources, can invest a lot of land, capital resources to achieve output growth the achievements of the target. On the other hand, technology development and the use of new growth pattern with, and also needs to have good system environment support. All of these are called to speed up the reform of the political system, especially the administrative system reform. The proposal of the transformation government function in on what the inker, the author put forward "clearly define the government investment range" and said, "firm promoting big department system reform, in places where conditions permit exploration province direct management county (city) the system." The compression of the administrative examination and approval range, improving administrative efficiency meaning is clear. Create world market, is not simply "big", the market of the depth and breadth of the country depends on the comprehensive development fundamentally level. Therefore, the government should be responsible for work will focus on expanding employment, to promote fair distribution, improve education, provide public services and other basic aspects. In per capita income approaching $4000 today, whether to properly deal with the relationship between growth and income, or correctly deal with the relation between equity and efficiency, in the vision and ability test decision makers. From the "world factory" to "the world market", in the next five years will be crucial in China where its way.
see more: "Discourse", that is the power to control public opinion. International discourse, is the ability of the influence international opinion. China in this area in rare earth export restrictions disadvantage when completely exposed. In early July, China announced it will in the later half of 2010 rare earth export decreased by 72%. Originally, according to the United Nations economic rights and obligations countries national charter, each country all the wealth of its own, natural resources and all economic activity, and can enjoy free exercise complete, permanent sovereignty, including possess,baseball hats use and disposal of right. But China's rare earth export restrictions of behavior, just be labeled with a monopoly on the us and Europe, unfair competition, waving a big stick and nationalism label, was mentioned the security and political perspective, but also against to the WTO, let China very passive. The United States "national interests" magazine web site on October 19 publish articles, alarmist, rare earth export restrictions will cause the world concerns about China's intentions. China should explicitly stated it don't plan to use this kind of behavior as a weapon approximate monopoly big stick. Obviously, so is not neutral, because the U.S. rare earth reserves of the world second, but rare earth ore and sealed up, also accused China not export. Of course, the title as "national interest", it is representative of the U.S. national interest. The Japanese media diameter and the Japanese government is also highly consistent. The Japanese economic news "October 21 of the reports that rare earth become China's" diplomatic tool, "and warned that China's play CARDS may incur isolated rare earth. Reports say, China government knew of the rare earth as a "diplomatic tools" importance, rare earth to borrow contain the developed countries of the plot is like concealed. Also said the practice will cause the international community more fierce resistance, China fears will face the danger of being isolated. The yomiuri said the, "th beauty can unity against". To restrict the rare earth launched censure, just affairs on the one hand; For the future of China development, overseas media is constantly worrying about it. October 25, the Washington post published the article in question: China is to continue to rise, or to bend to the paranoid? The article said, today's new China hand too confident, on the other hand, terrorized-even ran in front also be on the alert, restlessness. Chinese officials have repeatedly said that our country side is still very poor, one side of the country boasts about his success. They more and more aggressive on its neighbours, but insisted that China doesn't want to have the enemy. The positive and negative feelings in reaction clearly in both of the attitude. The United States is Chinese students and tourists like destination, that optimism frolic, strong possessive capitalist way of life of the Chinese people is well received by identity. However, China's yuan yue asked people polls say, the United States in the past ten years, nine years by the Chinese people as "the most dangerous enemy". Why the United States will be as an enemy? The American media have deep thinking. 11 / dec's "national interests" magazine asked, China will for a century in the west hand humiliations and take revenge measures? The article doubt China for a century the western bring humiliations are brewing hatred of love, the article worried that the Chinese may at present only keep hair, waiting for the power of the accumulated enough again revenge. However, the authors also see clearly that the Chinese do not have to be imprisoned in the history of the prison, hear the Chinese people are talking about "taking history as a mirror and the future". That China's present and future better than past can find all kinds of "evidence", a reporter for the New York times but with the unique insights from the dog made a text. The newspaper on October 25,, the article argued that dog can also reflect China's rise.NFL Jerseys The reporter interviewed a called the "point" of the Siberian husky, of course, also interviewed the owner. "But" than in those days the driver camel xiangzi much happiness. It one day two steps scattered, enjoying a imports of American toys and a haircut tools. It monthly food and nursing cost as much as $300 (1996 yuan), also with several layers of exclusive dog shed and special sofa. Because the city life is too boring, master also drove seven hours of car, take it to the Inner Mongolia grasslands play. The reporter thought, from the symbolic terms, but is not only a dog, but a social phenomenon, is China's completion from poor to the first sign of change citizen of the world. However, the dog's popular can also view other related social problems. Many owners, said China's family planning policy inspired master dogs of enthusiasm, young parents hoping to give the only children with a partner, and children grow up in the family, to raise the dog is in order to fill some empty nest to life. From the development of the social change dog see, is accord with the traditional western news-" the dog bit the man is not news, man bites dog's news ".
see more:Not only the currency war Finish the believe the???????" Like, I was actually in the believe the truth said, believe the found out the truth to all. I want to have been thought why. With what should believe the truth? Compared with what really all else important? With what? And think for a long time, and finally, draw the conclusion: with the truth can make the person obtains happy. Good, seek the truth because the truth can get happiness, that if the truth can't get happiness, did I this don't believe? Is this. So when a son died, the mother can't accept the fact that the choice easy psychological deny, have the wrong? You can argue that, she the right attitude is should accept the fact, in short pain instead of long pain, thus a normal life. But if she can not accept this strike, once admitted that fact, he might collapse and even death, what should I do? She is, she is willing to her family in unaware of the truth in our happy degree over the rest of my life, even if is careless of live,New Era Hats they would like to, can you? Also, many people around us, may include ourselves, face the truth than an important, is important, you can zha of? !!!!!!How should, actual it is a judgment of value. Value judgment, we can't take the place of others worry about, the others to want what you really can't tube. Their own values, don't join the matter to others, even related to oneself public things, it is bad for your judgment be objective. Although I asked many brokers since the end of may, a researcher at the real estate next control policy is, and what the answer is more restrictive to buy, but I'm still not too believe, so when the new countries article 8 after coming out, I still very shocked: so silly! The past limit purchase, house price appreciation is like is small, but as to the positive "blocking", the accumulation of is the greater the desire to buy, not only accumulated, and stimulate the new purchasing desire: the pressure are suppressed, later will rise more! Since last December in the volume of sales and increase the restrictions that purchase is a failure, I expect this failure can DaoBi government to make some real value point of measures to, but still no. According to my values, we should let the country to lower prices get more housing, such as now 600 million city people, there should be a total 30 billion square meters per capita 50 square of the town house, more than 18 billion square meters of than now out of 12 billion square meters, such, real estate have large space,sunglasses shop people have a happy life experience. According to the value goal, we should let go of land supply, should fight the local government do zhuang, should be... So many should, not can realize, why? Because this is my values, this is not the government's values, and this is not some leaders values. Although want to so many "should", but in my country to people not in a little significance. In my sense of how should it be, but how. So speak less and some useless "how to", more research some useful "if so how to".
see more:Women will be popular web site Explanation: this paper the original written in September 2010, the blog has published in Caing changes. The text as follows: since this year, domestic corn prices. Reliable sources say, so far, China has bought more than 100 tons of U.S. corn, including the state-run trade quotas and state-run trade quotas, to ease China's domestic high prices for corn and increase the next few months the supply of corn. Corn prices as early as in domestic expected. In 2006 we (in the grain valley) have proposed 2010 will be the corn very important year, may from net exports scale change to import. Today, this prophecy finally become a reality.baseball hats China's corn imports, say from big field, is due to China's per capita increased energy feed to predators increases in demand, Chinese much less, if want to more for animal protein, requires more energy input. From this year's specific conditions look, have special factors: first of all, the national reserve enough, a few years ago bought a demonic national corn, to a certain extent, make the market trade food stage relatively nervous, we go out looking for food, and that's one of the reasons; The more important reason is that this year's weather anomaly, late sown, it is not very good among, if add ZaoShuang, may lead to a certain extent expected production, domestic corn prices and higher, and we think that import corn profitable. In addition, the logistics cost is higher is one reason. We think that the future corn is expected to form the pattern of the south in the north, the south more USES the import corn, reduce logistics cost benefit to the enterprise. At present the domestic price is already corn varieties of popular local staple food, and considered that the next phase corn prices will relative stable, corn futures may cause certain fell back, the main reason is the impact of the import corn. Corn prices short-term hard to consecutive boom, but volatility will significantly increase, long-term investment value emerge. Today many media reported the domestic two listed companies of the suspected genetically modified corn. We still don't know the specific facts of whether is an article, but according to my experience, don't think genetically modified maize can lead to the author described the situation appears, so I think everybody is no need to panic. As for all concerned, whether a repeat of the so-called corn China's soybean industry subjugate of mistakes, I personally still hope you take an objective look at this problem. China's land is limited, if not so much soybean import,Discount sunglasses it means that many imported other, because you land is limited, if not import so many soybean, you'll kind of so many soybean, will affect other crop production, carrying holding general heavy. Corn is similar. China's grain demand growth, is because the quality of the cause, the basis to increasing demand for imports is not a problem, because if encounter things, people eat food directly, not through animal GuoFu transformation, the basic amount as long as can ensure that will do. But, can't denial, all the food production industry, the agricultural production related industry, your spring, not far away.
see more:Chinese officials degree analysis From a concept, to a remarkable multilateral cooperation mechanism, China, India, Brazil and other developing country economy in crisis "upstream", not only impelled the G20 group into the global economy new supremo, more let compound countries receive unparalleled strengthen multilateral cooperation mechanism, and thus become "financial crisis after age" of one of the most influential international nouns. It is a big developing country version of the G8 group? The world's most important emerging economies walk to arrive together, does that mean the world pattern "bullets" are coming? The questions is the premise of past, leading the global economic order of the G8 summit group, has been close to the end to. Because the global financial turmoil, led by the United States to developed countries in the once-in-a-lifetime disaster, not only to the lowest growth rate of history, or even negative, the problem is spreading all over the world, to the developing countries bring major crisis. Compared with the compound countries, especially China and India, Brazil, although by a financial tsunami affected, but still maintains 5% to 8% annual growth rate to be worthy of the lift the global economy out of the difficulty of the engine. The past form bright contrast. In the cold war era, many in the gap of the bi-polar pattern between developing countries are often hegemony threat,baseball hats fate in jeopardy. In this case, developing countries mainly rely on as the non-aligned movement, the "group of 77", the organization of petroleum exporting countries, the organization of the islamic conference and other regions and cross area to organization exert influence, in many major issues with "a voice" speak, thus against hegemonism threat. Now, although in developing countries as the main body of the organization is still active and published a large number of declaration, statement or bulletin, can effect is prominent substantive cooperation is rare, difficult to form a unified position, sometimes even into a quarrel, and let the developed countries share takings. This situation if go down for a long time, very adverse to the developing countries. The current international economic order is basically built up by the developed countries, although the international financial crisis that badly hit its strength, but in many other fields of discourse weight is still very heavy. In fact, the global financial crisis to compound countries has brought JiaoBan world economic order of opportunity-this order by the developed countries leading has too long, often only for their benefit. But more attractive to international eyeball, or compound countries in international economic reform, financial order fields of cooperation. In other words, the emergence of national gold ingot mechanism, to a certain extent in the developed countries monopoly was broken on global economic situation, at the same time, in developing countries and developed countries played between buffer action. For example in December 2009, the Copenhagen climate change summit, President Obama was forced to "into" the four basic (China, Brazil, India and South Africa) consultation room, draw up the final text summit. And always in climate change is the European Union bear bearer, and even being excluded from the decision-making circle outside. The fact proved that gold ingot can deal with the developed countries of the national challenges, will see compound "BaoTuan" don't hold tight. Compound countries is the relatively superior conditions in the development of the country and its prospect and destiny and the whole developing country groups are closely linked. In recent years, gold ingot put forward to change the world country relying too much on alternative to the dollar,Cheap sunglasses and the international monetary fund (IMF) Europe and the United States rights too big also logical. In November 2010, G20 countries in Seoul summit, compound country requires the current in Europe took too many seats organizations (such as the world bank and IMF) have greater discourse. After argued that, China national become decision-making organization IMF gold ingot core members of the executive board, and have more decision-making authority, the power of the European countries weakened. China's share of from the past to 3.72%, from 3.65% to 6.07% to vote. China beyond Germany, France, Britain and other countries, as a third of the voting rights of big country. Compound countries already held a summit in two. April 14,, in the third summit held in sanya, though the meeting will not change the global economic order of the proposed new claims, but the countries in driving the global economy will play a constructive role, and the developed countries to deliver a strong signals, they want to fight for the world economy say, want to fight for the world economic order reorganization of the rules of the game makers status. Of course, the purpose of enhancing the cooperation compound countries, and not to completely change the existing international political economy. Whatever the purpose of the country from gold ingot or ability see, are difficult to replace the G8 group or the position of the developed countries. The creation of a new international economic order is common to many countries will, in the long run, become the collective efforts of target state compound is possible. But, compound in the country for a long time not challenge the main task of the current economic order, but realize win-win cooperation with the current order. By extension, compound countries in the global economy, and the developed countries should be "is a competition and joint", its biggest strategic objectives should be equal with the developed countries, complement each other, sincere cooperation, but also restrict each other, this is the way, is the world of the f.
see By the end of 2008 the infant milk powder melamine events, it's been the past two and a half years. More than two years ago, a total of 1.11 billion yuan in compensation, by the China dairy industry association to lead and 22 enterprises set up raise, and the China life insurance company to manage it. But in more than two years, the relevant agency has never publicly that the compensation fund use. Recently,MLB hats in almost three weeks under continuous interview questions, the Chinese milk union China life finally to CCTV provides a show, first response to the related question it. But the explanation and no "let this could not penetrate the compensation fund becomes clear clear". By the end of 2010, 271869 patients get one-time compensation parents. But whether or not comply with unified regulation of health claims, death compensation, severe compensation, the common symptoms compensation how many children respectively, whether as compensation issue, and how much total away, for these key questions, dairy association did not give the answer. Milk association says, the remaining compensation of 200 million yuan will be classified as initial (i.e. all damages after more than 910 million delimit the money) medical compensation fund unified use. However, due to the amount is not too high, involving crowd is limited, the $200 million compensation fund in the past two years to gradually fading away from public view. Recent media reporter to investigate, ask the fund operation situation, the Chinese milk association chief but says it was state secrets, unfavorable foreign report. This answer is how ironic, the general dumbfounded that can be described. According to the provisions of the code, state secrets is part of the state secrets, is an important state secrets, if the leak out will make the security and interest of the state being damaged. And state secrets involves the secret matters including: state affairs important decision matters; The construction of national defense and the armed forces activities of the secrets; Diplomatic or diplomatic activities of the secrets and foreign obligation of confidentiality matters; The national economic and social development of the secrets; The secrets of science and technology; To safeguard state security activities and criminal investigation of the secrets; Other approved by the state secrecy work department shall determine the conservative state secrets. Contrast to see, because melamine events and the establishment of the compensation fund and its operation, with the above listed in seven aspects which matters in relation to link? About public disclosure of the confidential information and, China and most countries in the world, is the basic principles of the "open for practice,NBA hats not publicly for special case", "confidential event must be listed the list, not security". Even if some of the bad but classified matters must be kept secret, and approved by the state secrecy work department is indeed shall determine the conservative state secrets to just go. Excuse me melamine events by the compensation fund state secrecy bureau determined for state secrets? Obviously not. Chinese milk cooperation for a self-discipline and self service of community organizations, although also belong to be widely reviled of "two government" ranks, but you after all is not administrative institutions, more is not secret department, where come of power who made state secrets? Although say keep state secrets are Chinese citizens of obligation, but set up secrets but not any citizen and community groups power. This kind of general of trespass behavior, reflects the Chinese people (including general public employees) the concept of legal system of light. While China milk association officials say, melamine events compensation fund is state secrets, not because a slip of the tongue, it is because of his mind did less a piece of string in accordance with the law. Hope China dairy industry association and China life insurance Co., LTD to respect people's right to know and to supervise, now and in the future, are to be active and open melamine events use and damages children medical compensation fund use all accounts, don't again for my own wisdom and illegal ACTS excuses.
see more:Since this year bill financing operation analysis In the modern world, if there is any real were "remarkable", the fed average a month and a half a meeting can obviously among them. As the us dollar is the world's most important international currency, the fed's every move is affects global each economies of sensitive nerve, of course, individual extreme isolation place except. Before, market focus the fed meeting, the main thing is the interest rate policy, such as to don't raise interest rates, higher interest rates of the amplitude, and so on. But since this unprecedented international financial crisis after, the focus of market increase to two: one is to interest rates, the other is a quantitative easing to. The former is the price of the dollar, and the latter is the number of dollars. Before the fed just price, indulge quantity, and is now both. Shortly before the end of the just in June meeting,baseball hats the federal reserve announced, maintain its close to zero (0-0.25%) of the target rate in a quite long period of time (anextendedperiod) inside is changeless, and the second round of quantitative loose (QE2) is in after the end of June no longer renewal. Should say, the results accord with basic after most people expected. However, in the meeting after the end of the news conference, federal reserve chairman Ben bernanke also left some leeway for himself, said despite the current QE3 not plan, but really want to appear the weak us economy aggravating, the fed will not hesitate to launch QE3. Special need to point out that the fed QE3 launched, it doesn't mean the market liquidity will soon contraction, the fed announcement has a very important to you, will adhere to the principal due to investment policy. This words although small, but very important meaning. It tells us, although the fed will not go to the water in the pool, but also not from the pool for water. Reflect in the fed's balance sheet, is will remain at current about us $2.8 trillion (is in September in 2008 when lehman brothers failed more than three times the) same asset scale. That is the essence of quantitative loose in interest rates close to zero, fall is drop (in theory, interest rates can't for negative), through the quantity expansion to reduce the interest rate, to stimulate demand purpose, such as bernanke think, $600 billion of the size of the QE2 equivalent to cut rates by 75 basis points. But, with the number of liquidity as loose release compared to the total amount, the most important to liquidity. That is, the fed to the pool water injection, but whether the water flow to the note the fed expectations place? Because the same water, in the Yellow River and the Yangtze river inside is different, the former means that contact drought, the latter may not mean floods. QE2's $600 billion from two to balance sheet to look for. The first one is the federal reserve assets and liabilities. From the end of October 2010 to the middle of June this year, the federal reserve assets total increased about $530 billion, further analysis, and the specific project is on the increase has decreased, the increase of the main is national debt (about $760 billion), the decline is mainly MBS, two room bonds and loans to commercial Banks (about $230 billion). Because the latter basically is the product of during the financial crisis, that the United States of financial institutions in the crisis has basically been the past; Increase the national debt is mainly to down long-term interest rates, in order to realize the fed expected through the quantification loose in disguised form the effect of lower interest rates. From this perspective, the aim of the federal reserve to, because the United States currently has a long-term national debt interest rates do significantly lower than the average level of the past 30 years. But, down interest rates also is not the ultimate goal, ultimately the goal should be to stimulate the inhabitants of the enterprise and investment and consumption demand, reflected in the financial should be the bank loans increases. This should see second table, commercial Banks' balance sheets. From the end of October last year to the middle of June this year, the total assets of commercial Banks increased to $670 billion, but not only did not increase the loan, but dropped about us $30 billion, including consumer credit is down about 45 billion dollars, and at the same time, the bank cash assets were increased more than $7000. Two form control,Cheap sunglasses the more than $7000, dropped to the fed's main account, for the fed to reflect the commercial bank liabilities (commercial Banks in the fed's deposits increased more than $5000). This means that the fed QE2 increase liquidity, and no flow to the most need entity department, but to become bank plate dinner (international financial crisis, the federal reserve bank reserve requirements before to deposit not servicing, crisis began when the servicing). So, smart as bernanke, do not know? Obviously not, as he said, could in the future of commercial Banks' reserve requirements to stop payment. But he should be clear, the United States the crisis on the source is unbalanced structure, unbalanced structure will need to structural countermeasures, monetary policy can emergency, fire fighting, but for adjusting structure basically can't, maybe this is the fed decided to QE2 will no longer the root cause of renewal.
Banking regulatory commission (CBRC) said the banking industry can withstand the house prices fall into five |
Archives
April 2012
Categories |