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  3. The dramatic collapse in American consumer confidence, following the World Trade Center attack, increases the likelihood that th

The dramatic collapse in American consumer confidence, following the World Trade Center attack, increases the likelihood that th

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问题     The dramatic collapse in American consumer confidence, following the World Trade Center attack, increases the likelihood that the US economy will slide into recession. It’s not a nice message, but there’s no point in ignoring life’s harsh realities.
    America’s economy had been dragged along for nearly 18 months by the refusal of US consumers to face up to the fact that they were spending more than they were earning, share prices(especially in the high-tech sector)were in retreat, corporate America was cutting investment, and US unemployment was about to rise. The devastation wrought by the suicide killers has shaken American consumers from their state of denial. In Europe too, consumers have been rattled by the Manhattan atrocity and President Bush’s subsequent determination to hunt down the killers. A survey by a research group on behalf of the European Commission shows consumer confidence falling across the eurozone countries.
    But it’s America that is the greatest cause for concern. When the US stops spending, the rest of the world suffers. It imports more than any other country. In Britain, for example, Americans represent a big chunk of the tourism market, especially in London. The US is also crucially important to British-based car manufacturers, such as Jaguar and Land Rover, which seem certain to feel the pinch along with other luxury brands. This economic slowdown is not the creation of fevered press minds; it’s real and it’s now. That’s why the US government is considering a $100 billion revival package, including cuts in capital gains taxes and corporate taxes, to stimulate demand. Likewise, central banks in America, Europe and Britain have trimmed interest rates to beat off a credit crunch and lubricate the wheels of commerce. Their swift action is a tacit admission that a deep recession is possible, if not probably.
    Leading US investment bank, Morgan Stanley, told the Financial Times, "Never in their lifetimes have so many Americans feared for their safety in going to work, taking time off, or in procuring their daily needs." Stock markets, where most international indexes are about 30% below their 1999-2000 peaks, are telling us that corporate earnings are likely to be much lower than analysts had expected. Some sectors, such as airlines, hotels and insurance will be driven deep into loss.
    There is also a share-price discount for uncertainty, the biggest element of which is the extent of American military actions. Until the scale of the Middle East conflict becomes clear, investors will continue to shun the risk of equities for the certainty of cash and government bonds. Recovery will come. It always does. But a swift return to the go-go days of the late 1990s is inconceivable.
After the World Trade Center attack, Americans have to face the following realities except
选项 A、the dramatic collapse in consumer confidence.
B、that they spend more than they earn.
C、that the economy slides into recession.
D、the declining investment of the business people.
答案C
解析 本题解题的关键是理解题目中的realities，明白题目要求我们分辨哪些是已经发生了的事，哪些还没有发生。第1段首句中的likelihood“可能性”表明其后的同位语从句的内容还未发生，因此本题应选C。
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