美股震荡似2008！英伟达循环交易推泡沫，影子银行融资风险扩大

Group 1 - The article discusses concerns over Trump's tariff policies, suggesting they may lead to economic issues in the U.S. and undermine confidence in the dollar-based financial system globally [1][13] - The U.S. stock market is experiencing a rise, but underlying mechanisms appear "virtual," with companies like Nvidia inflating valuations through internal financing arrangements [3][5] - There is a growing risk associated with cryptocurrency, as traditional financial institutions are integrating it despite its volatility, which could lead to significant financial instability [7][19] Group 2 - The U.S. national debt has reached $38 trillion, which is 1.25 times the annual GDP, with interest payments nearing $1 trillion annually, diverting funds from public welfare [11][13] - Japan's debt situation is also alarming, with a debt-to-GDP ratio of 2.6, raising concerns about the sustainability of its financial practices [13][15] - The International Monetary Fund (IMF) reports a decline in the dollar's share of global foreign exchange reserves to its lowest in decades, indicating a potential shift away from dollar reliance in international trade [15][17] Group 3 - The article highlights that countries like Brazil and India are increasingly opting for local currencies in trade, reducing their dependence on the dollar, which could further erode the dollar's dominance [17][19] - The interconnectedness of global economies means that financial issues in the U.S. could have widespread repercussions, potentially leading to a re-evaluation of the existing financial system [19][21] - The article concludes that without addressing these accumulating risks, the consequences could be severe, affecting not just the U.S. but the global population [21]