- Cake is not the problem; allocation is the biggest problem.

At the level of social systems, there is generally a common view:

The economic system addresses production issues, while another system addresses allocation issues.

When these two systems coordinate well, society can continuously produce materials on one hand, while ensuring that all classes can fairly and reasonably benefit on the other. In this way, the entire society exhibits a situation of prosperous production and strong consumption.

When the economic system has problems, society presents a situation of material shortage. In this aspect, the Soviet Union and Eastern Europe are typical examples.

For the past few decades, our country has been committed to solving economic system issues, stripping away the various shackles that bind economic development, which is why we have created a miraculous achievement in production that has attracted worldwide attention.

In such a context, even if the other system does not undergo significant changes, the spillover effects generated by the immense prosperity of production can generally benefit all classes.

However, nowadays, when our production capacity is sufficient to supply the entire world, and even monopolizes global production capacity in many fields, the benefit distribution system still lags far behind production capacity. At this time, the spillover effects that the economic system can generate become very limited. Thus, we witness various social phenomena today.

The consumption trend presented by the economic data in May reflects this.

- Will there be an urgent global crisis this year or tomorrow?

An economic crisis is a normal cyclical phenomenon in the development of a capitalist economy, so the next economic crisis will certainly come; we just don't know when it will be.

Instead of whether it will happen this year or tomorrow, I am more concerned about what impact it will have on ordinary people if it occurs.

Our current situation is: residents are unable to consume, domestic demand is weakening further, and we are more reliant on exports.

In this context, if a global economic crisis occurs and overseas consumption collapses, our situation will become even more severe, and the pressure on ordinary citizens will increase.

Therefore, for us ordinary people, what matters now is to take the time to dig deep and accumulate resources.

- Recently, AI stocks have been surging; can we talk about this?

The surge in AI stocks is not a recent thing; it has been ongoing for several years. This effect is gradually spreading from the initial GPU chips to the entire industrial chain more and more intensely.

This impact is occurring not only in the United States but also in China.

I have shared my views on this earlier; how AI development will drive the upstream and downstream industrial chains as well as basic raw materials.

For individuals, searching for companies in these fields that they are most familiar with and can understand is the way to find their own opportunities.

The greatest fear is following the crowd; hearing Zhang San say that A is rising well today and then buying A in a frenzy. Tomorrow, hearing Li Si saying B is rising, one sells A immediately and rushes to buy B. Such operations will likely end up yielding nothing and just lead to loneliness.

- The US stocks and Hong Kong stocks on Gate are real stocks, not tokenized; what do you think?

My view remains as I wrote in an earlier article.

Currently, the US stock trading platforms that have been launched are all CEX, especially those targeting a wide audience of Chinese-speaking users.

As long as it is a CEX, users need to register to participate in trading, right?

If registration is required, then KYC is necessary.

If KYC is required, ordinary users will most likely register using domestic tax identification information.

If registered with domestic identity, when regulatory crackdowns hit these exchanges, do you believe they will simply drive away your funds, or will they even hand over your identity information to regulators?

In such a harsh macro environment now, if your identity information is obtained by regulators, what consequences might you face?

It may be worth paying more attention to recent information about users in various regions being required to pay back taxes and being fined, along with a recent wave of listed companies being asked to pay back taxes.

What implications are revealed by this information?

As long as US stock tokens have not officially entered the DeFi realm, there are considerable risks for domestic users participating.

If you believe that the above concerns are not risks and are indifferent to them, then just operate according to your own preferences.

The safest way to participate in US stock trading on these CEXs is simple: users must already possess a thoroughly foreign tax identity, which would make it safe and compliant.

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