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
57
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/cBbZ777K
0
考研英语一
相关试题推荐
Cyberspace,datasuperhighways,multimedia—forthosewhohaveseenthefuture,thelinkingofcomputers,televisionandtelepho
Cyberspace,datasuperhighways,multimedia—forthosewhohaveseenthefuture,thelinkingofcomputers,televisionandtelepho
LastweekendKyleMacDonaldinMontrealthrewapartytocelebratethefactthathegothisnewhomeinexchangeforaredpaper
Globalwarmingmayormaynotbethegreatenvironmentalcrisisofthe21stcentury,but—regardlessofwhetheritisorisn’t
Asayoungbondtrader,Buttonwoodwasgiventwopiecesofadvice,tradingrulesofthumb,ifyouwill:thatbadeconomicnewsi
Itisjustoneexampleofthegrowingconcernovertheincreasingpowerconsumptionandenvironmentalimpactofcomputers.Astu
High-qualitycustomerserviceispreachedbymany,butactuallykeepingcustomershappyiseasiersaidthandone.Shopperss
InanewstudyreleasedbyPew,researchersfindthatwhileMillennials—peoplewhowerebornafter1981—arebacktothepre-rece
随机试题
更换造口袋时,操作错误的是
关于关节松动术,下列哪项叙述是错误的
下列哪一项为暑、燥、火三邪共同的致病特点
某水库除险加固工程的主要工作内容有:坝基帷幕灌浆(A)、坝顶道路重建(B)、上游护坡重建(C)、上游坝体培厚(D)、发电隧洞加固(E)、泄洪隧洞加固(F)、新建混凝土截渗墙(G)、下游护坡重建(H)、新建防浪墙(I)。施工合同约定,工程施工总工期17个月(
期货投资咨询服务合同指引和风险揭示书格式,由()制定。
抵押是指债务人或第三方不转移对财产的占有,将该财产作为债权的担保,债务人不履行债务时,债权人有权依照法律规定以该财产折价或者拍卖。变更该财产的价款优先受偿。()
根据契税法律制度的规定,下列各项中,不属于契税纳税人的有()。
瞬时电流速断保护的主要优点是()。
Yourcameraissnatched.Willyoueverseeita-gain?Probablynot.Butitmaysendpostcardsfromitsnewowner.The【C1】______o
Thesafetyofshipsatseadoesnotdependonlyonthearrangementsmadeintheshipsthemselves.Dangerouscoastsandrocksmay
最新回复
(
0
)