豪宅一个关于次贷危机课文翻译
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Houhold debt crisis–a looming threat to the US economy
US economic activity slowed in late 2007 as the credit crisis spawned by the sub-prime mortgage debacle intensified.Banks cut back their lending to individuals and companies,causing the annualized rate of GDP growth to fall to a tepid 0.6%in the fourth quarter last year,significantly lower than the 4.9%recorded in the previous quarter.The worning outlook has prompted the US government to take unprecedented measures to stimulate the ailing economy.
华中农业大学分数线s game豪宅次贷危机,美国经济面对的威胁
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随着美国次按问题恶化，并引发信贷进一步收缩，美国经济在2007年年底明显降温。银行持续减少个人及企业贷款，导致第4季经济生产总值按年率计仅升0.6%，远低于上一季4.9%的增幅。经济前景转坏，促使美国政府实施多项新政策挽救经济。
US houholds are the rescue target.
A wide range of new measures have been introduced by the US Treasury Department and the Federal Rerve(the Fed)in an attempt to prevent the sub-prime woes from spiraling into a full-blown economic meltdown.First,Congress and the Administration have agreed on a US$152 billion economic stimulus package.This includes tax rebates of up to US$600 per individual and US$300 for each dependent child.Second,the benchmark Fed Funds Rate(FFR)has been slashed by a combined three percentage points in six rate cuts since September 2007 to the current 2.25%.Moreover,liquidity is being pumped into financial institutions by expanding the range of curities accepted as collateral for loans issued by the Fed and by increasing investments in the mortgage market by Fannie Mae and Freddie Mac–the two largest US home finance companies.T he Fed’s support of the bailout of the failing investment bank Bear Sterns marked yet another step to stave off a broader confidence crisis in financial markets.
abraham美国政府致力维持次贷危机消费增长
boeh美国财政部及联邦储备局（联储局）采取一连串措施，以阻止次按危机蔓延至其他经济层
面。首先，美国政府通过总值1,520亿美元的经济刺激方案，其内容主要向纳税人退还税款，包括每人最多600美元及每名儿童最多300美元。其次，自去年9月的6次减息行动中，联邦基金利率一共被下调300点子至目前的2.25%。另一方面，通过扩大抵押债券的接受范围，以及放宽两家美国最大房贷公司房利美和房贷美在按揭市场投资的限制，联储局向金融机构注入了大量资金。近期联储局破例拯救频临清盘的华尔街投资银行贝尔斯登，以显示当局对防止信心危机在金融市场扩散的决心。
封网All of the above strategies are aimed at keeping houhold spending afloat.It is hoped that the tax rebates will boost consumer spending,which has been depresd by sliding home prices and tight credit.The funds provided by the Fed through initiatives such as the Term Securities Lending Facility are aimed at easing the credit squeeze in the market.Without such infusions,the scarcity of funding for new mortgages could cau hou prices to fall further,feeding a vicious downward spiral.Meanwhile,the rate cuts have lowered the cost of borrowing for companies at a time when lenders are元旦快乐英文
demanding higher margins.This has helped to bolster the sagging stock market,which co
uld well have fallen much more than it has to date without the Fed moves.The Dow Jones Industrial Average had fallen 13%at the end of March from its record high in October 2007.Without the Fed support,the cumulative negative wealth effects of falling property and share prices may have further dragged the economy.
以上所有策略的目标皆在于保持美国家庭消费的动力。楼价回软及信贷收紧令居民的消费能力下降，在这种情况下，退税有助刺激购买意欲。另一方面，联储局推出各项新的注资措施，包括定期证券借贷工具等，为资金短缺的金融市场洒下及时雨。否则，若金融机构拒绝向置业者提供按揭贷款，必将加速楼市放缓，加深经济衰退的风险。此外，受到次按问题影响，借贷息口被大幅扯高，市场出现资金紧绌的情况。联储局连番减息的行动纾缓美国企业的融资压力，有助稳定股票市场。事实上，截至今年3月底，道琼斯工业平均指数从10月份的历史高位只下挫13%，如果联储局未有作出支持，楼价股价同时下跌对消费者所带来的负面财富效应恐怕会令疲弱的经济雪上加霜。
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