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
2015-10-20
92
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.
Which of the following would be the best title for the text?
选项
A、The Credit Crisis Grows
B、The Economy Transitions
C、The USA Declines
D、The Debt Soars
答案
A
解析
主旨大意题。一般文章的主旨出现在文章开头或者结尾的地方。这篇文章开篇就点题信用危机,随后整篇都围绕此主题展开,故选A项。
转载请注明原文地址:https://kaotiyun.com/show/1jzZ777K
0
考研英语一
相关试题推荐
Youaregoingtoreadatextabouttheapproachestocreatingchampionship,followedbyalistofexamples.Choosethebestexam
StrangethingshavebeenhappeningtoEngland.Still【1】fromthedissolutionoftheempireintheyears【2】WorldWarⅡ,nowtheEn
Thequestionofwhereinsightscomefromhasbecomeahottopicinneuroscience,despitethefactthattheyarenoteasytoindu
WhatseemstobethebiggestproblemwithAmerica’shealthcaresystem?Wecaninferfromthelasttwoparagraphsthat
WhatseemstobethebiggestproblemwithAmerica’shealthcaresystem?Theword"perverse"(line5,paragraph2)isclosestin
Theroleofgovernmentsinenvironmentalmanagementisdifficultbutinescapable.Sometimes,thestatetriestomanagetheresou
Theroleofgovernmentsinenvironmentalmanagementisdifficultbutinescapable.Sometimes,thestatetriestomanagetheresou
YouaregoingtoreadalistofheadingsandatextabouttipsforReadjustingYourFinancialPlantoCopewithPostponedRetire
Forthispart,youaresupposedtowriteacompositiononthetitleMyViewonExaminations.1.ThemeaningofExaminationsinp
ManyforeignerswhohavenotvisitedBritaincallalltheinhabitantsEnglish,fortheyareusedtothinkingoftheBritishIsle
随机试题
有一个多道程序设计系统,采用不允许移动的可变分区方式管理主存中的用户空间,设用户空间为100KB,主存空间的分配算法为最先适应分配算法,作业调度和进程调度均采用先来先服务算法,作业序列为:请计算以上5个作业的平均周转时间。(注:作业是依次进入输入井的,
关于脑脓肿的描述,下列哪一项不对
小儿结核性脑膜炎中期主要临床表现为
大海公司2015年12月10日收到客户预付的款项200万元,会计上2015年未确认收入,按税法规定该笔预收款项应计入2015年应纳税所得额。则2015年12月31日,该笔预收账款的计税基础为()万元。
东达股份有限公司是增值税一般纳税人,2018年有关资料如下:(1)1月1日部分总账及其所属明细账余额如表所示:注:①该公司未单独设置“预付账款”会计科目。②表中长期借款为2017年10月1日从银行借入,借款期限2年,年利率为5%,每年付息一次、到期
公元1038年,女真族的首领李元昊在此建立了西夏王朝。()
ISO10015关注的焦点是()。
影响性格形成的因素有哪些?
StopEatingTooMuch"Cleanyourplate!"and"Beamemberoftheclean-plateclub!"JustabouteverykidintheUShasheard
Howmenfirstlearnedtoinventwordsis(31);inotherwords,theoriginoflanguageisamystery.Allwereallyknowisthatm
最新回复
(
0
)