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
外语
Borrow, Speculate and Hope The National Association of Securities Dealers is investigating whether some brokerage houses are
Borrow, Speculate and Hope The National Association of Securities Dealers is investigating whether some brokerage houses are
admin
2013-07-11
42
问题
Borrow, Speculate and Hope
The National Association of Securities Dealers is investigating whether some brokerage houses are inappropriately pushing individuals to borrow large sums on their houses to invest in the stock market. Can we persuade the association to investigate would-be privatizers of Social Security? For it is now apparent that the Bush administration’s privatization proposal will amount to the same thing borrow trillions, put the money in the stock market and hope.
Privatization would begin by diverting payroll taxes, which pay for current Social Security benefits, into personal investment accounts. The government would have to borrow to make up the shortfall. This would sharply increase the government’s debt. "Nevermind", privatization advocates say, "in the long run, people would make so much on personal accounts that the government could save money by cutting retirees’ benefits."
Even so, if personal investment accounts were invested in Treasury bonds, this whole process would accomplish precisely nothing. The interest workers would receive on their accounts would exactly match the interest the government would have to pay on its additional debt. To compensate for the initial borrowing, the government would have to cut future benefits so much that workers would gain nothing at all. However, privatizers claim that these investments would make a lot of money and that, in effect, the government, not the workers, would reap most of those gains, because as personal accounts grew, the government could cut benefits.
We can argue at length about whether the high stock returns such schemes assume are realistic (they aren’t) , but let’s cut to the chase in essence, such schemes involve having the government borrow heavily and put the money in the stock market. That’s because the government would, in effect, rob workers’ gains in their personal accounts by cutting those workers’ benefits.
Once you realize what privatization really means, it doesn’t sound too responsible, does it? But the details make it considerably worse. First, financial markets would, correctly, treat the reality of huge deficits today as a much more important indicator of the government’s financial health than the mere promise that government could save money by cutting benefits in the distant future. After all, a government bond is a legally binding promise to pay, while a benefits formula that supposedly cuts costs 40 years from now is nothing more than a suggestion to future Congresses. If a privatization plan passed in 2005 called for steep benefit cuts in 2045, what are the odds that those cuts would really happen? Second, a system of personal accounts would pay huge brokerage fees. Of course, from Wall Street’s point of view that’s a benefit, not a cost.
The author’s attitude to, yards the privatization proposal is______.
选项
A、impartial
B、suspicious
C、neutral
D、approval
答案
B
解析
本题考查作者态度。通观全篇,作者分析了布什政府私有化政策的实质,并且驳斥该政策支持者的观点。第五段首句中作者直接指出,一旦你意识到私有化的真正含义时,它听起来不是很负责。由此可见,作者对于这一政策的态度是怀疑,选[B]。
转载请注明原文地址:https://kaotiyun.com/show/xl4O777K
0
专业英语八级
相关试题推荐
ThingstobeTaughtinEverySchoolⅠ.Introduction:Importanceofstudents’abilitytodealwiththerealworld.A.Speake
Bynow,itshouldcomeasnosurprisewhenscientistsdiscoveryetanothercaseofexperiencechangingthebrain.Fromthesenso
WilliamFaulknerwasborninOxford,Miss.Hehad【1】education,thenhejoinedtheBritishRoyalAirForceinCanadabecausehew
Whatmightdrivingonanautomatedhighwaybelike?Theanswerdependsonwhatkindofsystemisultimatelyadopted.Twodis
FormanyyearsitwascommonintheUnitedStatestoassociateChineseAmericanswithrestaurantsandlaundries.Peopledidnot
Teachersandotherspecialistsinearlychildhoodeducationrecognizethatchildrendevelopatdifferentrates.Givenanythingt
TheSeattleTimesCompanyisonenewspaperfirmthathasrecognizedtheneedforchangeanddonesomethingaboutit.Inthenew
TheSeattleTimesCompanyisonenewspaperfirmthathasrecognizedtheneedforchangeanddonesomethingaboutit.Inthenew
DouglasAdams,thelatelamentedauthorofTheHitchhiker’sGuidetotheGalaxy,dreamedupmanycomiccreations.Oneofhisgre
DouglasAdams,thelatelamentedauthorofTheHitchhiker’sGuidetotheGalaxy,dreamedupmanycomiccreations.Oneofhisgre
随机试题
简述学前儿童科学技术教育的内容。
含有易挥发性成分中药的用法是
图示电路中,a-b端的开路电压Uabk为:
涵洞按水力性能分为无压涵、半压力涵和()。
泰华公司现在的经营情况和信用政策如下:假设泰华公司要改变信刚政策,提出A、B婀个方案,资料如下:要求;假设泰华公司要求的必要报酬率为15%,作出比较A、B两方案优劣的决策。
累积故障(失效)公式表示正确的是()。
某幼儿园张老师每周将表现不好的孩子名单在家长微信群公布,要求这些孩子的家长在微信群里发红包。张老师的做法()。
[*]
Whatdoesthewomanneedtodoatthetravelagency?
A、Lessthanayear.B、Onlyaweek.C、Morethanayear.D、Twoweeksandayear.C女士说自己的MP3播放器是一年前买的,男士说此产品已过了一年的保修期,女士说只是过了一周而已。从
最新回复
(
0
)