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2008年10月30日经济报道-美国经济萎缩0.3%

楼主:Early Bird 日期: 回贴:2 浏览:

ECONOMICS REPORT - US Economy Shrinks 0.3 Percent
Thu, 30 Oct 2008
This is the VOA Special English Economics Report.
经济报道-美国经济萎缩0.3%。
2008年10月30日,星期四。
这是VOA特别英语的经济报道。
Early estimates show that the United States economy shrank by three-tenths of one percent from July through September. Economists had predicted a five-tenths drop. But Thursday's report from the Commerce Department also showed that Americans cut their spending by the most in almost thirty years.
提前估计数据表明,美国经济7-9月间萎缩了0.3%。经济学家此前的预测是下跌0.5%。但是,商务部周四的报告也表明,美国民众减少开支,并且是30年来最大的一次。
The economy has shrunk only one other time since the recession of two thousand one. That was at the end of last year.
自2004年衰退以来,其它时间的经济萎缩只有一次,那是去年底。
A recession is traditionally defined as at least six months of decrease in the gross domestic product. G.D.P. is the value of all goods and services produced within a country.
衰退的传统定义是GDP至少六个月下跌;GDP是一国生产所有商品与服务的价值之和。
Recently, many central banks, fearing a worldwide recession, have cut interest rates. On Wednesday, the Federal Reserve cut its target rate for overnight loans between banks from one and a half percent to just one percent. The federal funds rate has not been that low since June of two thousand four.
最近,许多央行担心全球性衰退,纷纷降低利率。周三,美联储将银行间隔夜贷款目标利率从1.5%下调到仅有1%。自2004年7月以来,联邦基金利率从未这么低。
The Fed chairman then was Alan Greenspan. Critics say his support of low-cost credit, plus his resistance to stronger controls, helped inflate housing prices. He thought lenders understood risk better than government regulators. But high-risk loans led to today's credit crisis once the housing bubble burst.
当时美联储主席是艾伦•格林斯潘。批评人士说,他支持低成本信贷以及反对加强监管导致房产价格飞涨。他认为,放款人比政府监管机构更理解风险。但是,房产泡沫破裂之后,高风险的贷款导致了今日信贷危机。
Last week, the House Committee on Oversight and Government Reform called Alan Greenspan to hearings on the financial crisis. Chairman Henry Waxman asked him about his positions in the past on supervision of financial markets.
上周,众议院监管和政府改革委员会要求艾伦•格林斯潘接受金融危机的听证。该委员会主席亨利.韦克斯曼询问格林斯潘过去在金融市场监管方面的立场。
HENRY WAXMAN: "My question for you is simple. Where you wrong?"
亨利.韦克斯曼:“我向你提出的问题简单。你是否有错?”
ALAN GREENSPAN: "Partially. But let's separate this problem into its component parts."
艾伦•格林斯潘:“部分错误。但是,请将问题分成各部分。”
Alan Greenspan went on to defend some of the complex financial products called derivatives. But he said there are "some serious problems" with credit default swaps. Buyers use this kind of derivative as insurance against losses on debts they are owed.
艾伦•格林斯潘继续为称之为复合金融产品(衍生产品)辩护。但是,他说CDS(信用违约掉期)存在“某些严重的问题”。买家将这种衍生产品作为防范所欠债务损失的保险。
Credit default swaps on debt related to risky home loans almost collapsed A.I.G. The huge insurance company was rescued with government loans.
与风险房产贷款相关债务的CDS几乎使AIG(美国国际集团)崩溃。这一巨大的保险公司因政府贷款而获救。
Henry Waxman pushed Alan Greenspan for a more complete answer -- unlike the days when he was treated like a financial god.
亨利.韦克斯曼逼问艾伦•格林斯潘,提出更完整的回复:再也不象金融上帝那样(厚待)的日子了。
HENRY WAXMAN: "Well, where do you think you made a mistake?"
亨利.韦克斯曼:“那么,你认为你犯错误了吗?”
ALAN GREENSPAN: "I made a mistake in presuming that the self-interest of organizations, specifically banks and others, were such as that they were best capable of protecting their own shareholders."
艾伦•格林斯潘“我犯了一个错误:认为机构(尤其是银行等机构)的自身利益使他们能够更好地保护他们的股东。”
Consumer confidence, a measure of how Americans feel about the world's largest economy, is at its lowest in at least forty years.
消费者信心指数(美国人认为世界最大经济体(指美国)好坏的一个衡量)处于40多年来的最低点。
And that's the VOA Special English Economics Report, written by Mario Ritter. I'm Steve Ember.
这是由Mario Ritter编写的VOA特别英语的经济报道,我是Steve Ember。


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  第1楼 作者:Early Bird 创建: <编辑>  <引用>
关于格老,大家不妨阅读一下张五常的文章(向格老致意),比较中肯的评价。 FYI
2楼 作者:^^Q 创建: <编辑>  <引用>
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