Recently, U.S. Treasury Secretary Janet Yellen finally officially announced that the U.S. has defeated inflation and the economy has successfully landed soft.
I remember the last time the U.S. Treasury Secretary said something similar, but it was in 2007, after which it collapsed, the global financial crisis broke out, and even his century-old investment bank Lehman Brothers went bankrupt.
In the past two years, because of the continuous release of money to stimulate the economy, inflation in the United States has soared to a 40-year high, and the CPI once exceeded 8%, and inflation is indeed its biggest problem. Then the Fed quickly brought inflation under control through the most aggressive rate hikes, and the current CPI is 3%, and there is indeed hope that it will fall back to around the 2% target range this year.
However, the U.S. economy is overheated, and the bubble is already at an all-time high, and it has always been near the all-time high, and various price-earnings ratios and moving price-earnings ratios have shown that this is a huge bubble, which is comparable to the level of the peak of the Great Depression crisis in the last century.
In addition, housing prices in the United States are also near the highest in history, since 2018 surpassed the peak of the last U.S. real estate bubble, U.S. housing prices have risen for another 6 years, in fact, its commercial real estate bubble has burst, which has not caused a major crisis.
Therefore, I think that the asset bubble in the United States is obviously still intensifying, not to mention a soft landing, it has not landed at all, and it is still soaring.
However, Apple has recently torn off the fig leaf of American technology companies and has been downgraded by rating companies due to continuous declines in profits and revenues. Its share price also fell sharply.
In fact, in this round of U.S. stocks, the seven major technology companies contributed most of the gains, and behind this, there is no performance support. I think Apple's ** shows that a crisis is actually inevitable.