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
2015-05-24
67
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 subprime 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://www.kaotiyun.com/show/9j74777K
0
考研英语一
相关试题推荐
BarackObamainvitedapuzzlinggroupofpeopleintotheWhiteHouseonDecember5th:universitypresidents.Whatevertheymight
SteveJobsdidn’tthinkthattechnologyalonecouldfixwhatailsAmericaneducation.It’sworthrememberingthatinthewakeof
Inhisnewbook,GoingSolo,NewYorkUniversitysociologistEricKlinenbergarguesthatwe’repoisedtobecomeanationdominat
Americansaresupposedtobemobileandevenpushy.SaulBellow’sAugieMarchdeclares,"IamanAmerican,..firsttoknock,f
Lastweek8,400Britishstudentsabouttoenteruniversityreceivedane-mailfromtheStudentLoansCompany(SLC),agovernment
Lastweek8,400Britishstudentsabouttoenteruniversityreceivedane-mailfromtheStudentLoansCompany(SLC),agovernment
DepressionAstudyledbyresearchersattheUniversityofPennsylvaniaindicatesthattheantidepressantsworknobetterth
DepressionAstudyledbyresearchersattheUniversityofPennsylvaniaindicatesthattheantidepressantsworknobetterth
Acidification,warming,thedestructionofcoralreefs:thebiggestproblemsfacingtheseaareasvast,deepandseeminglyintr
随机试题
口服短效避孕药最佳服用时间
首先应考虑的诊断为( )其疼痛主要因为( )
瘀血的病症特点,哪种说法不准确
体检时不可能发现的体征是最可能的发病机制是
热网上的补偿器主要是由于()原因而设置的。
按股东出资形式来划分,物业服务企业可分为()。
在绩效管理中。如何保证考评的准确是一个重要问题,请问影响考评准确性的主要原因有哪些?
下面语段的内容,偏离中心意思的一组是()。①“勤能补拙是良训,一分辛苦一分才。”②只要勤勉不懈,就能弥补个人天赋的不足,到达理想的彼岸。③曹雪芹“十年辛苦不寻常”写出了《红楼梦》。④司马迁忍辱负重十五年,笔耕
Whatisimportantineating,accordingtothescientists?
I’vetwicebeentocollegeadmissionswars,andasIsurveythebattlefield,somethingdifferentishappening.It’soneupmanshi
最新回复
(
0
)