It's not even that, I don't think. A big portion of the newest round of economic stimulus policies the government came out with is making it easier for normal people to take out loans *specifically for the purpose of investing in stocks*, in the hopes that this will stimulate the economy out of the deflation death spiral it's in. So a lot of people are hopping on board, not because they actually believe in stocks, but just because this is a way to get their hands on much needed money. Although there are a lot of bloggers excited about this, it's hard to tell how much of the enthusiasm is just the usual propaganda. At least the comment section remains relatively cautious and pessimistic about how long this bull market will last.
It seems like most people's idea is to get a loan, hop on the stocks train and then sell again, and so long as they break even or even just don't lose too much money, that's still a quick and easy way to get a low-interest loan out of the bank to quickly pay off more urgent debts or bills they might have. And if they happen to make some money because everyone else has the same idea, that's great too.
Looks like China is entering the WallStreetBets phase when ordinary people realize that stocks are a legal and socially acceptable form of betting.
It's not even that, I don't think. A big portion of the newest round of economic stimulus policies the government came out with is making it easier for normal people to take out loans *specifically for the purpose of investing in stocks*, in the hopes that this will stimulate the economy out of the deflation death spiral it's in. So a lot of people are hopping on board, not because they actually believe in stocks, but just because this is a way to get their hands on much needed money. Although there are a lot of bloggers excited about this, it's hard to tell how much of the enthusiasm is just the usual propaganda. At least the comment section remains relatively cautious and pessimistic about how long this bull market will last.
It seems like most people's idea is to get a loan, hop on the stocks train and then sell again, and so long as they break even or even just don't lose too much money, that's still a quick and easy way to get a low-interest loan out of the bank to quickly pay off more urgent debts or bills they might have. And if they happen to make some money because everyone else has the same idea, that's great too.