63Milk of God small sin rate demon Adorable sister team staged off welfare|Milk of God small sin rate demon Adorable sister team staged off welfare4

Milk of God small sin rate "demon" Adorable sister team staged off welfare 7.2 CGWR score card booking | novice demon area lead: say a adorable sister take you naked"! The most simple singles welfare in tonight! 19 o’clock on November 11th, a wave of guards, Yan value adorable and spicy beauty in "demon" with you "melee", broadcast live! A common color sports carnival night will be staged in the formal "demon" arena! In addition to the single welfare de adorable sister, don’t forget to double or eleven crazy hand chop seckill! Because the "demon" official flagship store last year super discount also began! To say tonight "guts athletics carnival night" is not so simple to eat ice cream ~ and have passion to open the black woman to war, adorable explosion house dance and Musical Singing sultry and sexy eyes only game player, to interactive games spurting, "demon" Adorable sister corps with a big wave you unexpectedly generous benefits to! Stamp links, rushed into the inter dimensional scramjet competitive battle studio! 19:00 starts on time tonight! Direct links between > > > 19:00 start on time tonight oh how adorable sister, let them to you sincerely convinced? That night, "demon" arena will open online, and give you a three chance and MYG (Moyu Girl). A showdown. As long as the role of combat effectiveness of more than 300, and at the time of the event on the line, all players are likely to match the sister oh! Live event from 7 this evening, will last nearly two hours. Game player can 360° no dead watching adorable sisters, feel the passion of the battle scene can spark direct dialogue and other small evil woman, more variety show, dubbing the show, girl are flourishing beauty and sounds for your blessing, you fight; the discussion than I guess, and your beauty. Close interaction, competitive energy MAX! Too many people blush can not describe the welfare activities, waiting for you to feel the scene game player yo ~ MYG clan close interaction with you want to get complete welfare, must pay attention to our official website ~ activities will be multi platform broadcast, remember, broadcast time is 11.11 at 19 o’clock in the evening! Miss to regret a year! This year the strongest discount value package, seckill "demon" double hit eleven, in addition to singing and dancing, and adorable adorable sister sister fighting, more welfare seckill struck! The value of promotional packs big run, crazy 20% rebate! There are special price 1 yuan spike! Do not look at regret! November 1st -11 month 10 days, every day 1200, 1500, 2000 and 2100 have special offer single product sales value package seckill, is November 11th 00:00-11 13 24:00. Package contents from the rich and colorful, gorgeous fashion to really good stone, meet the full range of game player virtuoso demand. Buy packs can be accumulated VIP integral and return the stone! What are you waiting for, on the Taobao flagship store, decisive start it! Welfare benefits hit the first time.

45High prices can not be attributed to the high growth of money|High prices can not be attributed to the high growth of money6

High prices can not be attributed to the high growth of the monetary Sina Finance opinion leaders column (WeChat public kopleader) columnist Zhang Bin money although high growth pose a systemic risk, but the problem of systemic risk is not the main way of the currency. Reduce systemic risk is the only way to solve the soft budget constraint, local governments and state-owned enterprises to rationalize public goods and quasi public goods investment and financing mechanism, improve the financial risk supervision, strengthen the financial infrastructure construction. High prices can not be attributed to the high growth of money why over the past 20 years, the high growth of money did not bring high inflation? Why did not the high growth of currency devaluation? Why prices are high but can not be attributed to the high growth of money? Is there a currency? Currency is very popular. China’s central bank’s balance sheet expansion rate is far more than the implementation of quantitative easing, the Central Bank of Europe and the United States, China’s currency ratio of GDP and the highest in the world. Chinese broad money is so big, as if the currency decline in the purchasing power of all sectors of society, as unalterable principles, inflation pressure and the devaluation of the RMB real estate price bubble fears can be heard without end. Only from the past 20 years of history, the above concerns and serious opposition to reality. There is a lot of money, but there is no serious decline in the purchasing power of the renminbi against its own goods and services. Over the past 20 years, the average growth rate of CPI 2.2% China, 8% emerging and developing economies, 1.8% developed economies, China past 20 years the average level of inflation is not only far below the emerging market and developing countries, compared with the developed countries as well as too much. Over the past 20 years, the nominal effective exchange rate of RMB against a basket of currencies accumulated substantial appreciation of 64%, excluding the price of RMB appreciation of the real effective exchange rate appreciation of RMB 57%, 28% against the dollar, the RMB is strong currency. The purchasing power of the Renminbi for the housing is indeed a significant decline, but the housing price bubble has not been able to confirm the currency. There are two possible explanations for the serious opposition of currency over the reality, one may be that there is no mistake in the judgment of the monetary excess, but the time has not come, and the other is that the logic and judgment of the monetary excess is actually biased. Time is not difficult to explain the establishment of. The super currency that protracted, decades ago economists have broad money M2 called "tiger" in the cage, it is the root of such a high M2 may become inflation or other macroeconomic problems at any time. Decades down, the time is not to say it is difficult to set up. China’s high growth rate of money is not a recent thing. Over the past 20 years China broad money growth rate has been very high, but from the experience to see the effects of monetary growth on prices up to 10 lag -14 months, bring the money over soaring prices should have appeared, but the reality is not so. Currency devaluation will bring pressure, but this pressure in the financial market is extremely sensitive reaction, will not lag to 20 years. If it is the real estate price bubble caused by monetary super, it is difficult to imagine the price bubble will continue