Consumption cannot be boosted,
not because there is no money,
but because of asset depreciation.
If my house can increase by 5 million,
I will take out 1 million to buy a car.
But in fact,
I will not sell the house even if it increases by 5 million,
it is just a paper profit,
but 1 million will be taken out,
because there is no worry about consumption.
But if the opposite is true,
my house drops by 5 million,
I still won’t sell it,
but I will save 1 million,
for emergencies,
this is why consumption is not good now,
and why deposits are soaring.
So giving money is only a temporary solution,
and boosting asset prices is the core.
