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
2015-05-24
111
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 subprime 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.
It is suggested in Paragraph 3 that
选项
A、the financial system is able to provide enough credit to support the investment.
B、the credit issue can be traced back to the economic expansion long ago.
C、the growing oil prices have influenced the business world.
D、the borrowing bubble and the spending one will balance the economy.
答案
C
解析
推理判断题。答案在第三段。文中提到石油价格上涨的同时,消费者支出、居民住房投资和商业投资均会下降,由此推得石油价格上涨对经济生活产生了影响。故选C项。
转载请注明原文地址:https://kaotiyun.com/show/1j74777K
0
考研英语一
相关试题推荐
BarackObamainvitedapuzzlinggroupofpeopleintotheWhiteHouseonDecember5th:universitypresidents.Whatevertheymight
BarackObamainvitedapuzzlinggroupofpeopleintotheWhiteHouseonDecember5th:universitypresidents.Whatevertheymight
Asoneofararegroupofeconomistswhobelievethat"manufacturingmatters"forthehealthoftheAmericaneconomy,Iwashear
LikealotofearlessNewYorkers,Iamgenerallyconfusedbyburstsofpopulistoutrageoverhighgasprices.ButIhavealways
Americansaresupposedtobemobileandevenpushy.SaulBellow’sAugieMarchdeclares,"IamanAmerican,..firsttoknock,f
Oftheworld’s774milliterateadultstwo-thirdsarewomen,asharethathasremainedunchangedforthepasttwodecades.Butgi
DepressionAstudyledbyresearchersattheUniversityofPennsylvaniaindicatesthattheantidepressantsworknobetterth
Acidification,warming,thedestructionofcoralreefs:thebiggestproblemsfacingtheseaareasvast,deepandseeminglyintr
Thesuccessstoryoftopinvestorsandexecutivesisastapleofbusinessbooksandmagazines.【C1】______researchsuggestswesho
Thesuccessstoryoftopinvestorsandexecutivesisastapleofbusinessbooksandmagazines.【C1】______researchsuggestswesho
随机试题
关于孕期保健,以下哪项正确
德国历史法学派代表萨维尼的主要观点有:()
背景某施工总承包企业承担北京某综合楼工程。建筑面积43457m2,筏板基础,框架剪力墙结构。地下二层,地上十层。2015年10月1日开工,2017年6月1日竣工。北京地区2015年、2016年冬期施工期限是11月15日至3月15日。2016年6月15日至
各商业银行的个人贷款品种有不同的还款方式,具体包括()。
实行国库集中支付后,对于由财政直接支付的工资,事业单位应借记“事业支出”科目,贷记()科目。
入冬以后,我国许多地区会出现严重的空气污染,其中,汽车尾气是主要污染源。下列有关汽车尾气说法不正确的是()。
下列可以成为旅游法律关系客体的有()
孙子,名【41】(约公元前545一公元前470年),字长卿,【42】时期【43】国人,著名的军事家、政治家,被后人尊称为【44】、百世兵家之师、东方兵学的鼻祖等。孙子约活动于公元前六世纪末至前五世纪初。居留吴国期间,经吴国重臣【45】(本为【
[*]
SpeakerA:Look,it’sgoingtostorm.Takemyumbrella.SpeakerB:______
最新回复
(
0
)