Chapter 47 Adventure is in the Anglo-Saxon DNA

The "spirit of putting down picks" that led the Japanese to become "economically illiterate" has existed for nearly 20 years since the bubble economy burst. Before the bubble economy happened, the economy was booming, and ordinary families didn't have to worry about asset management.Even if you don't say anything, wages will naturally rise, and land assets and stock prices will also rise. But now this situation has completely changed.Under the economic situation of zero interest rate, land assets and stock prices will no longer rise. In addition, inflation may occur in the future, and finally, the national pension and medical expenses burden will increase.Money stored in the bank may depreciate, so it is a "risk asset".

Regarding the issue of assets, if the Japanese do not learn from scratch, they will have no way to talk about life in the future. "Why does it have to be like this?" If you insist on finding a reason, it is that there is a huge gap in economic and financial knowledge between the Japanese people and the European and American people.This gap is manifested in the fact that, for example, overseas investors can always find profitable investment directions, but Japanese investors always take a fancy to some worthless things (this seems to have become a unique tradition in Japan). Here I want to ask a question.

The answer is "no such thing at all". In this highly informational and highly networked era, it is impossible for only overseas investors to have favorable information. The Japanese have exactly the same external conditions. This is the greatest benefit that globalization brings to everyone.Because in the 21st century, human beings live in a big "collective intelligence".Therefore, there is only one difference from each other.That is whether you can really put it into practice after you form your own judgment through serious study.Europeans, Americans, Russians, and Chinese have been continuously learning about economics and finance in the past 20 years.

Since the United States implemented "Reaganomics" (Reaganomics, the economic policy promulgated by President Reagan in early 1980), people's enthusiasm for learning about economics has also greatly increased. Speaking of Reagan, he was a president who disregarded the people in order to seek self-reliance. His economic policy aimed at "small countries with few people" and advocated that the economy should be regulated entirely by the market. When Bush came to power, Reagan's economic policies began to lose their rationality, especially the outbreak of the financial crisis, which forced people to reflect on Reaganism.While it's true that the Reagan Doctrine went a little too far, that's not to say it was a complete failure.And now Americans, in order not to be dragged down by the economic crisis, are planning for their retirement life and taking practical actions.

In short, the American people make up their own minds on economic and financial issues.Because if you don't do this, you will be the one who will suffer the loss of pension and savings in the future. After Reagan came to power, many Americans got together every day at 9-10 pm after get off work to study the use of the 401(K) plan (American pension plan), as well as stock investment and investment trust knowledge.That really saved the time for dinner, just bought some bread and coffee, and then got together for a study session. I have also participated in this kind of study meeting several times, and everyone was very enthusiastic at that time.

The enthusiasm continued until the economic situation began to falter. The Japanese's ignorance and indifference to economics and finance is, in the eyes of the Anglo-Saxons, completely inconceivable. In the UK, parents start teaching children about asset management when they are young.When it comes to the Anglo-Saxons, it's even more powerful, and it's not an exaggeration to say that they have an innate knowledge of asset management.When they are young, their parents let them control and manage money by themselves. Parents educate their children in this way from an early age, instead of waiting for their children to grow up.In their ordinary families, even at the dinner table, there are often such conversations: how to invest better, which crops have the highest rate of return now, and so on.

After receiving such education from an early age, when they grow up and really participate in the real financial world, they will feel like ducks in water.Such excellent talents are now concentrated in SOHO environments in London, Scotland and Edinburgh to participate in asset management work.Because of this, the UK's economic development can maintain a relatively good situation. Now Britain has freed itself from the previous "defeatism", just like building a colonial empire in the past, it is accepting the baptism of risks. The Anglo-Saxons have passed down the financial DNA from generation to generation.