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
77
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
Americansdon’tliketolosewars.Ofcourse,alotdependsonhowyoudefinejustwhatawaris.Thereareshootingwars—theki
Howdoesyourreadingproceed?Clearly,youtrytocomprehend,inthesenseofidentifyingmeaningsforindividualwordsandwor
LastweekendKyleMacDonaldinMontrealthrewapartytocelebratethefactthathegothisnewhomeinexchangeforaredpaper
Onhowtheworldhaschangedoverthelast50years,notallofithasbeengood.Asyouarelookingfororganicfoodinformatio
Onhowtheworldhaschangedoverthelast50years,notallofithasbeengood.Asyouarelookingfororganicfoodinformatio
Globalwarmingmayormaynotbethegreatenvironmentalcrisisofthe21stcentury,but—regardlessofwhetheritisorisn’t
Olderpeoplemustbegivenmorechancestolearniftheyaretocontributetosocietyratherthanbeafinancialburden,accordi
Olderpeoplemustbegivenmorechancestolearniftheyaretocontributetosocietyratherthanbeafinancialburden,accordi
OfallthechangesthathavetakenplaceinEnglish-languagenewspapersduringthepastquarter-century,perhapsthemostfar-re
ItishardtopinpointthedateatwhichAmericansdevelopedanIndian—orperhapsBritishfatalismaboutthedecliningqualityo
随机试题
脑内药物浓度高的抗真菌药物有
人民陪审员的任期为()
【B1】【B9】
牙菌斑形成的基础是
对骗取国家出口退税款的,税务机关可以处罚的情形有()。
2017年1月1日,中国正式接任金砖国家主席国,将于2017年9月在福建省_________市举办金砖国家领导人第九次会晤。
请仔细观察这幅漫画。给漫画拟定一个标题,并谈谈看法。
下列关于管程的叙述中,不正确的是()。
Ifsomeoneissleepwalking,theyarewalkingaroundwhiletheyareasleep.Sleepwalkinghappenswhenapersonisnotfullyaslee
Ausefuldefinitionofanairpollutantisacompoundaddeddirectlyorindirectlybyhumanstotheatmosphereinsuchquantitie
最新回复
(
0
)