首页
外语
计算机
考研
公务员
职业资格
财经
工程
司法
医学
专升本
自考
实用职业技能
登录
考研
They are "financial weapons of mass destruction," to quote the famous investor Warren Buffett as he surveyed the morning-after d
They are "financial weapons of mass destruction," to quote the famous investor Warren Buffett as he surveyed the morning-after d
admin
2017-04-13
34
问题
They are "financial weapons of mass destruction," to quote the famous investor Warren Buffett as he surveyed the morning-after destruction of the sub-prime mortgage lending crisis. The continuing destruction can now be called a credit crisis—a significant escalation because credit has been the fuel powering the American economy for the past half dozen years.
A whole galaxy of credit instruments has now been downgraded to the tune of hundreds of billions of dollars of paper losses. Another immediate effect has been a collapse in cash-out borrowing from home equity from about $700 billion in 2005 to $100 billion to date. At the same time, tighter lending and mortgage standards have contributed to a dramatic decline in residential construction from a high of over 2 million units to about 800,000 predicted for next year, with a related decline in employment. A slowdown in consumer spending seems inescapable.
What is now seriously in question is the capacity of our financial system to provide enough credit to support the scale of investment that has maintained our long economic expansion. Coming at a time of soaring oil prices, we may have a simultaneous decline in consumer spending, residential investment, and business investment. The economy was strong in the third quarter but clearly dropping off by the end. We may be at the finish of not just the long-term borrowing bubble but the long-term spending bubble. The Federal Reserve must get ahead of the curve. Its priority must be to maintain the viability of the credit system and the flow of credit; our postmodern economy is dependent on an ongoing flow of credit. The problem for the Fed is that monetary policy may be no match for the deep structural contradictions that plague the financial system. We are dealing here with a whole new set of credit instruments that are little understood and therefore extremely difficult to price.
The economy is clearly transitioning to much slower growth, sharply tighter lending standards, a declining housing market, and pressure on consumer spending. People and companies are trying to cope with the debt accumulated during several years of wasteful lending and spending. The real danger from a credit crisis is that everyone, from banks to corporations to households, may economize simultaneously. The collapse of values and the risks of the credit squeeze are the worst since the Great Depression. We are going to put the economy’s resilience to a severe test.
According to the first paragraph, which of the following seems to be the most serious economic problem now?
选项
A、The overall economic depression.
B、The on-going credit crisis.
C、The weapons of mass destruction.
D、The investment in housing.
答案
B
解析
推理判断题。答案在首段。题干问的是当前最严重的经济问题是什么。该段主要就是通过沃伦·巴菲特的一句点评引出次贷危机问题,两由此带来的持续性破坏现在被称为信用危机。故选B项。
转载请注明原文地址:https://jikaoti.com/ti/3Xr7FFFM
0
考研英语一
相关试题推荐
JusthowmuchdoestheConstitutionprotectyourdigitaldata?TheSupremeCourtwillnowconsiderwhetherpolicecansearchthe
Americansnolongerexpectpublicfigures,whetherinspeechorinwriting,tocommandtheEnglishlanguagewithskillandgift.
Imaginewakingupandfindingthevalueofyourassetshasbeenhalved.No,you’renotaninvestorinoneofthosehedgefunds(对
Globalwarmingmayormaynotbethegreatenvironmentalcrisisofthe21stcentury,but—regardlessofwhetheritisorisn’t
Globalwarmingmayormaynotbethegreatenvironmentalcrisisofthe21stcentury,but—regardlessofwhetheritisorisn’t
InanewstudyreleasedbyPew,researchersfindthatwhileMillennials—peoplewhowerebornafter1981—arebacktothepre-rece
AmazontodayunveiledDashButtons,aneasywayforcustomersto【C1】______selectbulkgoods【C2】______aninternet-connectedbutto
Halfoftheworld’spopulationwillbespeakingorlearningEnglishby2015,researcherssay.Twobillionpeopleareexpectedto
【F1】Formorethantwodecades,U.S.courtshavebeenlimitingaffirmative-actionprogramsinuniversitiesandotherareas.Thel
ItishardtopinpointthedateatwhichAmericansdevelopedanIndian—orperhapsBritishfatalismaboutthedecliningqualityo
随机试题
门静脉上消化道出血合并肝昏迷,下列各项中最适用于消除肠内积血,减少氨形成的是()
设计交底是保证工程施工质量的重要环节,设计交底应由( )主持。
某水闸工程由于长期受水流冲刷和冻融的影响,闸墩混凝土碳化深度最大达5.5Cm,交通桥损毁严重。工程加固处理内容包括:闸墩采用渗透型结晶材料进行表层加固;拆除原交通桥桥面板,全部更换为浇“T”型梁板等。在工程加固工程中,监理单位在质量检查中发现“T”型粱
我国目前立法所确定的上市公司是指其所发行的股票经国务院或国务院授权的证券管理部门批准在证券交易所上市交易的股份有限公司以及一些与上市公司之间存在关联关系或收购行为的非上市公司。( )
人的神经系统中,有些神经细胞既能传导兴奋,又能合成并分泌激素。这些细胞位于()。
编写如下程序:PrivateSubCommandl_Click()DimiAsInteger,iAsIntegern=InputBox("输入一个大于1的正整数")Fori=2Ton
有如下枚举类型定义:enumDAY{SUN,MON=10,TUE,WED,THU,FRI=20,SAT};执行下列程序段for(inti=0;i
Impatiencecharacterizesyoungintellectualworkers.Theywanttomaketheirmark(31).Soit’simportanttoget(32)tothemin
假设你是王林,是东南大学的一名学生。请围绕“构建和谐社会”(buildaharmonioussociety)这一主题,依照提示向全市学生写一封英文倡议书。内容包括:(1)人与社会的和谐。(2)人与人的和谐。(3)人与自然
Shouldcellphonesbeallowedinschools?Thishasbeenanintenselydiscussedquestionforyears.Thefollowingarethesupport
最新回复
(
0
)