Last night my mood was complicated. I studied the current major economic trends in the country and the reasons leading to deflation all night. Money circulates in the financial system but never reaches the bottom layers. Eventually, there will definitely be a direction for it; I want to find investment opportunities. Studying was too exhausting, so I decided to relax by watching a video. The first video suggested to me was about a day's work in a factory, featuring older men and women. Their clothes were soaked with sweat, and the food they ate was on the level of shared meals. The probability of having five insurances and one fund is very low. Ironically, just recently, the central bank issued a statement saying it would shift from preventing 'price gouging' to preventing 'low-price dumping.' Where do these low-price dumped goods come from? From the demographic dividend.

Everyone talks about the hardships of rural people, but in my opinion, rural areas just have low income. However, the living environment and the quality of life experience are much higher than those of middle-aged and elderly workers who work outside. They don't have to squeeze into old rental houses or work in noisy, high-temperature, and polluted environments. Although they can't afford to go out for entertainment, there is so much content online now. Just scrolling through videos and short dramas makes life pass by. Most of the entertainment activities for these elderly workers outside are just on their phones because their income is spent on down payments for their children's homes, becoming a grain of sand in the torrent of major infrastructure. But do they know that a house sold to them for one million yuan, even with the land price included, only costs about four hundred thousand yuan to build? The other six hundred thousand yuan is siphoned off by various rent-seeking intermediaries. Besides transferring assets abroad, these intermediaries also purchase properties in first-tier cities, further driving up housing prices. This is why the income of workers does not keep up with the growth rate of housing prices, as everyone’s capital growth methods are different. Yet this type of real estate is considered the best current top-down capital allocation method, at least with three layers of capital reaching the bottom.

Sometimes I also wonder why there is no more space for major infrastructure in the country, yet we continue to pursue it. Previous major infrastructure projects at least created something from nothing, from 0 to 80%. Now, tearing down and rebuilding seems like a rise from 80% to 85%, yet the expenditure is greater than that from 0 to 80%. It's completely a thankless task. The current deflation results from people's reluctance to consume; goods cannot be sold. Factories first engage in price competition, then lay off workers, leading to even less willingness to consume and forming a death spiral. Why not improve their living standards through subsidies for five insurances and one fund, meal subsidies, constructing worker accommodations, etc., to empower them to consume?

At the end of the video, the blogger worked for five hours and earned 66 yuan, while in a recent Alpha project of a certain company, one only needs to move a finger to earn over ten thousand yuan in a month. I got results in Web3; I know this is a choice of capital. But where does the capital's money come from? Don’t tell me Web3 is foreign; the economy is globally integrated. Those connections and intermediaries in the country have drained the blood, transferring assets abroad, while the foreign financial system speculates on Web3. They all inflate prices together. When ordinary people's money comes in, they withdraw and seek the next target, repeating the cycle. I dare not think deeply about this; it makes me feel that every penny I earn in Web3 is filled with the sweat and blood of domestic workers.