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
Man is born free but is everywhere in debt. In the rich world, getting hold of your first credit card is a rite of passage far m
Man is born free but is everywhere in debt. In the rich world, getting hold of your first credit card is a rite of passage far m
admin
2021-02-21
78
问题
Man is born free but is everywhere in debt. In the rich world, getting hold of your first credit card is a rite of passage far more important for your daily life than casting your first vote. Buying your first home normally requires taking on a debt several times the size of your annual income. And even if you shun the temptation of borrowing to indulge yourself, you are still saddled with your portion of the national debt.
Throughout the 1980s and 1990s a rise in debt levels accompanied the "great moderation", when growth was steady and unemployment and inflation remained low. No longer did Western banks have to raise rates to halt consumer booms. By the early 2000s a vast international scheme of vendor financing had been created. Those who cautioned against rising debt levels were dismissed as doom-mongers; after all, asset prices were rising even faster, so balance-sheets looked healthy. And with the economy advancing, debtors could afford to meet their interest payments. In short, it paid to borrow and it paid to lend. Like alcohol, a debt boom tends to induce euphoria. Traders and investors saw the asset-price rises as proof of their brilliance; central banks and governments thought that rising markets and higher tax revenues attested to the soundness of their policies.
The answer to all problems seemed to be more debt. Depressed? Use your credit card for a shopping spree "because you’re worth it". Want to get rich quick? Work for a private-equity or hedge-fund firm, using borrowed money to enhance returns. Looking for faster growth for your company? Borrow money and make an acquisition. And if the economy is in recession, let the government go into deficit to bolster spending.
Debt increased at every level, from consumers to companies to banks to whole countries. The effect varied from country to country, but a survey by the McKinsey Global Institute found that average total debt(private and public sector combined)in ten mature economies rose from 200% of GDP in 1995 to 300% in 2008. There were even more startling rises in Iceland and Ireland, where debt-to-GDP ratios reached 1,200% and 700% respectively. The burdens proved too much for those two countries, plunging them into financial crisis. Such turmoil is a sign that debt is not the instant solution it was made out to be.
From early 2007 onwards there were signs that economies were reaching the limit of their ability to absorb more borrowing. The growth-boosting potential of debt seemed to peter out. According to Leigh Skene of Lombard Street Research, each additional dollar of debt was associated with less and less growth.
The examples of Iceland and Ireland are intended to show that
选项
A、the effect of debt differs in each country.
B、the two countries have the highest debt rise.
C、debt isn’t always an instant solution as believed.
D、debt rise is the origin of the financial crisis.
答案
C
解析
例证细节题。根据题干中的Iceland and Ireland定位到文章第四段。由该段最后一句话可知,举债并不能立竿见影地解决任何问题,故C项正确。
转载请注明原文地址:https://kaotiyun.com/show/mQY4777K
0
考研英语二
相关试题推荐
Theword"this"(Paragraph1)probablyrefersto______.Thepotentialforhazardousweedsdevelopingfromgeneticallymodified
Thebesttitleforthispassagewouldbe______.Defenseattorneysarevitaltothejudicialsystembecausewithoutthem,itwo
Amajorreasonforconflictintheanimalworldisterritory.Themaleanimal(21)anarea.Thesizeoftheareaissufficientt
Amajorreasonforconflictintheanimalworldisterritory.Themaleanimal(21)anarea.Thesizeoftheareaissufficientt
Theoppositionpartydemandsthatthosecabinetmemberswhoareinvolvedintherecentscandalshould______.
ManyAmericansregardthejurysystemasaconcreteexpressionofcrucialdemocraticvalues,includingtheprinciplesthatallc
Readthefollowingtextandanswerquestionsbyfindinginformationfromtherightcolumnthatcorrespondstoeachofthemarked
Scienceisanenterpriseconcernedwithgaininginformationaboutcausality,ortherelationshipbetweencauseandeffect.Asim
Isitpossiblethattheideaswehavetodayaboutownershipandpropertyrightshavebeensouniversalinthehumanmindthatit
随机试题
小虎精力旺盛,爱打抱不平;但他做事急躁、马虎,喜欢指挥别人,稍不如意,便大发脾气,甚至动手打人,事后虽也后悔,但遇事总是难以克制……你认为小虎的气质属于什么气质类型?为什么?
近代中国反封建的核心内容是()
嗜铬细胞瘤术前准备,哪项是错误的
[2013年,第16题]设L是连接点A(1,0)及点B(0,-1)的直线段,则对弧长的曲线积分等于()。
某安装工程公司承接某地一处大型吊装运输总承包项目,有80~200t大型设备26台。工程内容包括大型设备卸船后的陆路运输及现场的吊装作业。施工作业地点在南方沿海地区,工程施工特点为:工程量大、工期紧、高空作业多、运输和吊装吨位重。项目部按照合同要求,根据工程
波特五力模型中关于购买者讨价还价能力的正确表述是()。
企业的会计政策变更和差错更正的累计影响金额不需要在所有者权益变动表中列示。()
根据企业所得税法律制度的规定,下列备项中,不征税收入是()。
关于影响人身心发展的因素,下列表述正确的是
下列数据结构中,能用二分法进行查找的是
最新回复
(
0
)