<h3><img src="https://imageproxy.pbkrs.com/https://images.pexels.com/photos/4604639/pexels-photo-4604639.jpeg/query-YXV0bz1jb21wcmVzcyZjcz10aW55c3JnYiZoPTc1MCZ3PTEyNjA?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://images.pexels.com/photos/4604639/pexels-photo-4604639.jpeg/query-YXV0bz1jb21wcmVzcyZjcz10aW55c3JnYiZoPTc1MCZ3PTEyNjA"/></h3>
<p><em>图片来源：Pexels</em></p>
<p>我将告诉你一个小秘密……</p>
<p>股票的牛市现在已经成为 <strong>国家安全</strong> 的问题。</p>
<p>大约 58% 的美国家庭参与了股市。从实际财富来看，<strong>45%</strong> 的家庭财富投资于股票。是的，几乎一半的美国人财富与股市息息相关。</p>
<p>仅在这个背景下，股票市场的重大熊市/危机就代表了经济损失上的国家安全问题。这相当于一种经济核武器。</p>
<p>但等等……这种关系比大多数人意识到的要深得多。</p>
<p>股票市场实际上就是经济。</p>
<p>我们正处于一个 “K” 型经济中，收入/消费者的前 10% 几乎占据了所有的消费支出/经济增长，而收入/消费者的底部 90% 则因通货膨胀而面临更高的生活成本的困扰。</p>
<p>前 10% 的家庭，实际上是推动经济的消费支出的人，拥有超过 90% 的股票。在这种情况下，股票市场的熊市将引发消费支出的巨大下降。由于消费支出占 GDP 的 70%，这将立即导致经济衰退。</p>
<p>这并不是夸大其词。我们在 2025 年 3 月/4 月的贸易战/关税风波中尝到了这一点，当时股票在四周内下跌了 18%，抹去了 11 万亿美元的财富。那时，从西南航空到 Chipotle 再到百事可乐的众多公司警告称，他们看到消费支出出现了衰退迹象。</p>
<p>股票触底后情况发生了变化……自那时以来，经济一直在缓慢增长。</p>
<p>我提到这一切是因为很明显，联邦储备和特朗普政府愿意干预以支撑股票。昨天，纽约联邦储备银行行长约翰·威廉姆斯表示，联邦储备将在 12 月降息。</p>
<p>股票在这一消息下暴涨。</p>
<p>这并不新鲜。我们一次又一次地看到股票在崩溃边缘时，总是被联邦官员或特朗普总统的推文等 “拯救”。</p>
<p>再说一次……牛市现在已经成为当权者的国家安全问题。在这种背景下，我称之为全球大融化的局面大门已经打开……一种股票和其他上升资产暴涨到看似荒谬的水平的情况。</p>
<p>现在就是为市场准备这一切的时机，在这一切发生之前。</p>
<hr/>
<p><em>更多来自此作者的文章：</em></p>
<p>金融系统中正在酝酿不好的事情</p>
<p>血腥屠杀已经到来</p>
<p>2026 年将迎来一场流动性海啸</p>

特朗普媒体科技集团

<p>股市的稳定对国家安全至关重要，45% 的美国家庭财富与股票相关。熊市可能会因消费者支出减少而引发衰退，而消费者支出占 GDP 的 70%。美联储和特朗普政府可能会采取干预措施来支持股市，从而导致潜在的 “全球大融化”</p>

<h3><img src="https://imageproxy.pbkrs.com/https://images.pexels.com/photos/4604639/pexels-photo-4604639.jpeg/query-YXV0bz1jb21wcmVzcyZjcz10aW55c3JnYiZoPTc1MCZ3PTEyNjA" alt="" original-src="https://images.pexels.com/photos/4604639/pexels-photo-4604639.jpeg?auto=compress&amp;cs=tinysrgb&amp;h=750&amp;w=1260"/></h3>
<div class="lb-trans"><h3><img src="https://imageproxy.pbkrs.com/https://images.pexels.com/photos/4604639/pexels-photo-4604639.jpeg/query-YXV0bz1jb21wcmVzcyZjcz10aW55c3JnYiZoPTc1MCZ3PTEyNjA" alt="" original-src="https://images.pexels.com/photos/4604639/pexels-photo-4604639.jpeg?auto=compress&amp;cs=tinysrgb&amp;h=750&amp;w=1260"/></h3>
</div><p><em>Image Source: Pexels</em></p>
<div class="lb-trans"><p><em>图片来源：Pexels</em></p>
</div><p>I’m going to let you in on a little secret…</p>
<div class="lb-trans"><p>我将告诉你一个小秘密……</p>
</div><p>A bull market in stocks is now a matter of <strong>national security.</strong></p>
<div class="lb-trans"><p>股票的牛市现在已经成为 <strong>国家安全</strong> 的问题。</p>
</div><p>Some 58% of American households have exposure to the stock market. In terms of actual wealth, <strong>45%</strong> of household wealth is invested in stocks. Yes, nearly HALF of the wealth Americans own is tied to the stock market.</p>
<div class="lb-trans"><p>大约 58% 的美国家庭参与了股市。从实际财富来看，<strong>45%</strong> 的家庭财富投资于股票。是的，几乎一半的美国人财富与股市息息相关。</p>
</div><p>In this context alone, a major bear market/ crisis in stocks represents a matter of national security in terms of economic damage. It’s the equivalent of an economic nuclear weapon.</p>
<div class="lb-trans"><p>仅在这个背景下，股票市场的重大熊市/危机就代表了经济损失上的国家安全问题。这相当于一种经济核武器。</p>
</div><p>But wait… this relationship is even deeper than most realize.</p>
<div class="lb-trans"><p>但等等……这种关系比大多数人意识到的要深得多。</p>
</div><p>The stock market is now in fact the economy.</p>
<div class="lb-trans"><p>股票市场实际上就是经济。</p>
</div><p>We are in a “K” shaped economy in which the top 10% of incomes/ consumers accounts for nearly ALL of consumer spending/ economic growth while the bottom 90% of the incomes/ consumers are struggling with the higher costs of living due to inflation.</p>
<div class="lb-trans"><p>我们正处于一个 “K” 型经济中，收入/消费者的前 10% 几乎占据了所有的消费支出/经济增长，而收入/消费者的底部 90% 则因通货膨胀而面临更高的生活成本的困扰。</p>
</div><p>The top 10% of households, the people who are literally driving the economy due to their consumer spending, own over 90% of stocks. In this context, a bear market in stocks would trigger a massive decline in consumer spending. And since consumer spending accounts for 70% of GDP, this would immediately lead to a recession.</p>
<div class="lb-trans"><p>前 10% 的家庭，实际上是推动经济的消费支出的人，拥有超过 90% 的股票。在这种情况下，股票市场的熊市将引发消费支出的巨大下降。由于消费支出占 GDP 的 70%，这将立即导致经济衰退。</p>
</div><p>This is not hyperbole. We got a taste of this during the trade war/ tariff tantrum in March/ April 2025, when stocks declined 18% in four weeks, erasing $11 trillion in wealth. At that time, numerous companies ranging from Southwest Airlines to Chipotle to PepsiCo warned that they were seeing a pullback in consumer spending that was recessionary.</p>
<div class="lb-trans"><p>这并不是夸大其词。我们在 2025 年 3 月/4 月的贸易战/关税风波中尝到了这一点，当时股票在四周内下跌了 18%，抹去了 11 万亿美元的财富。那时，从西南航空到 Chipotle 再到百事可乐的众多公司警告称，他们看到消费支出出现了衰退迹象。</p>
</div><p>Stocks bottomed and this changed… and since that time, the economy has chugged along.</p>
<div class="lb-trans"><p>股票触底后情况发生了变化……自那时以来，经济一直在缓慢增长。</p>
</div><p>I bring all of this up because it is clear, plain as day, that the Fed and the Trump administration are willing to intervene to prop up/ support stocks. Yesterday it was NY Fed President John Williams stating that the Fed was going to cut rates in December.</p>
<div class="lb-trans"><p>我提到这一切是因为很明显，联邦储备和特朗普政府愿意干预以支撑股票。昨天，纽约联邦储备银行行长约翰·威廉姆斯表示，联邦储备将在 12 月降息。</p>
</div><p>Stocks exploded higher on the news.</p>
<div class="lb-trans"><p>股票在这一消息下暴涨。</p>
</div><p>This is nothing new. Time and again we’ve seen stocks on the verge of breaking down only to be “saved” by a Fed official or President Trump tweeting something, etc.</p>
<div class="lb-trans"><p>这并不新鲜。我们一次又一次地看到股票在崩溃边缘时，总是被联邦官员或特朗普总统的推文等 “拯救”。</p>
</div><p>Again… a bull market is now a matter of national security for the Powers That Be. In this context the doors are open to what I call the Great Global Melt Up… a situation in which stocks and other rise assets EXPLODE higher to levels that seem ridiculous.</p>
<div class="lb-trans"><p>再说一次……牛市现在已经成为当权者的国家安全问题。在这种背景下，我称之为全球大融化的局面大门已经打开……一种股票和其他上升资产暴涨到看似荒谬的水平的情况。</p>
</div><p>The time to prepare for what this means for the markets is NOW before this happens.</p>
<div class="lb-trans"><p>现在就是为市场准备这一切的时机，在这一切发生之前。</p>
</div><hr/>
<div class="lb-trans"><hr/>
</div><p><em>More By This Author:</em></p>
<div class="lb-trans"><p><em>更多来自此作者的文章：</em></p>
</div><p>Something Bad Is Brewing In The Financial System</p>
<div class="lb-trans"><p>金融系统中正在酝酿不好的事情</p>
</div><p>The Bloodbath Is Here</p>
<div class="lb-trans"><p>血腥屠杀已经到来</p>
</div><p>A Tsunami Of Liquidity Is Coming In 2026</p>
<div class="lb-trans"><p>2026 年将迎来一场流动性海啸</p>
</div>

为什么股票拒绝下跌