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
Man is born free but is everywhere in debt. In the rich world, getting hold of your first credit card is a rite of passage far m
Man is born free but is everywhere in debt. In the rich world, getting hold of your first credit card is a rite of passage far m
admin
2021-02-21
108
问题
Man is born free but is everywhere in debt. In the rich world, getting hold of your first credit card is a rite of passage far more important for your daily life than casting your first vote. Buying your first home normally requires taking on a debt several times the size of your annual income. And even if you shun the temptation of borrowing to indulge yourself, you are still saddled with your portion of the national debt.
Throughout the 1980s and 1990s a rise in debt levels accompanied the "great moderation", when growth was steady and unemployment and inflation remained low. No longer did Western banks have to raise rates to halt consumer booms. By the early 2000s a vast international scheme of vendor financing had been created. Those who cautioned against rising debt levels were dismissed as doom-mongers; after all, asset prices were rising even faster, so balance-sheets looked healthy. And with the economy advancing, debtors could afford to meet their interest payments. In short, it paid to borrow and it paid to lend. Like alcohol, a debt boom tends to induce euphoria. Traders and investors saw the asset-price rises as proof of their brilliance; central banks and governments thought that rising markets and higher tax revenues attested to the soundness of their policies.
The answer to all problems seemed to be more debt. Depressed? Use your credit card for a shopping spree "because you’re worth it". Want to get rich quick? Work for a private-equity or hedge-fund firm, using borrowed money to enhance returns. Looking for faster growth for your company? Borrow money and make an acquisition. And if the economy is in recession, let the government go into deficit to bolster spending.
Debt increased at every level, from consumers to companies to banks to whole countries. The effect varied from country to country, but a survey by the McKinsey Global Institute found that average total debt(private and public sector combined)in ten mature economies rose from 200% of GDP in 1995 to 300% in 2008. There were even more startling rises in Iceland and Ireland, where debt-to-GDP ratios reached 1,200% and 700% respectively. The burdens proved too much for those two countries, plunging them into financial crisis. Such turmoil is a sign that debt is not the instant solution it was made out to be.
From early 2007 onwards there were signs that economies were reaching the limit of their ability to absorb more borrowing. The growth-boosting potential of debt seemed to peter out. According to Leigh Skene of Lombard Street Research, each additional dollar of debt was associated with less and less growth.
According to this text, the author is likely to agree that
选项
A、debt is unavoidable as well as necessary.
B、a booming economy always follows a debt rise.
C、more debt has been related to less growth.
D、debt is reaching its limit to boost economy.
答案
D
解析
主旨大意题。由最后一段可知,目前各国吸收贷款的能力已经达到最大极限,债务经济增长的潜在刺激作用在逐渐地消失。故D项正确。
转载请注明原文地址:https://kaotiyun.com/show/1QY4777K
0
考研英语二
相关试题推荐
Oneofthequestionsthatiscomingintofocusaswefacegrowingscarcityofresourcesofmanykindsintheworldishowtodiv
Theauthorbelievesinthepassagethat______.Theword"rejuvenated"(Paragraph5)mostprobablymeans______.
Amajorreasonforconflictintheanimalworldisterritory.Themaleanimal(21)anarea.Thesizeoftheareaissufficientt
Amajorreasonforconflictintheanimalworldisterritory.Themaleanimal(21)anarea.Thesizeoftheareaissufficientt
Amajorreasonforconflictintheanimalworldisterritory.Themaleanimal(21)anarea.Thesizeoftheareaissufficientt
Conveniencefoodhelpscompaniesbycreatinggrowth;butwhatisitseffectonpeople?Forpeoplewhothinkcookingwasthefoun
WetendtothinkofthedecadesimmediatelyfollowingWorldWarIIasatimeofprosperityandgrowth,withsoldiersreturningh
"Universalhistory,thehistoryofwhatmanhasaccomplishedinthisworld,isatbottomtheHistoryoftheGreatMenwhohavew
Scienceisanenterpriseconcernedwithgaininginformationaboutcausality,ortherelationshipbetweencauseandeffect.Asim
随机试题
我们预料我们的计划会遇到一些人的反对。
女性,26岁。腕踝关节疼痛半年,入夏以来在阳光下行走面部出现红斑,于某年7月就诊。体检:头发稀疏,面颈部有不规则圆形皮损,边缘略高出皮面,口腔有多个浅表溃疡,肝肋下0.5cm,脾肋下刚及。化验:LE细胞阳性,按美国风湿病学修订标准符合SLE诊断关于S
正常情况下,机体排泄的尿液中不含
重度营养不良患儿调整饮食,开始供给热量应为
A.瓜蒌B.白芍C.丹参D.甘草E.乌头根据中药“十八反”与甘遂相反的中药是()。
关于工资差别的说法,正确的是()。
按(1)(2)步折叠后,按(3)的图案剪纸,展开后的图案是()。
一位药物专家只从G、H、J、K、L这5种不同的鱼类药物中选择3种,并且只从W、X、Y、Z这4种不同的草类药物中选择2种,来配制一副药方。他的选择必须符合下列条件:(1)如果他选G,就不能选H,也不能选Y;(2)他不能选H,除非他选K;
基于买方的购买历史及行为分析,进行针对性的信息推送,属于()的典型应用。
Johnwasinanurseryschoolforoneyear.
最新回复
(
0
)