杭州交通信息网汽车无钥匙进入失灵:谁可以帮帮忙翻译啊？谢谢好人
来源：百度文库 编辑：杭州交通信息网 时间：2024/05/09 03:34:40
Bubble trouble - or not?
Is the US current account deficit sustainable? Are global stock markets heading for another crash? These are two issues discussed by Patrick L. Smith in the weekend edition of the International Herald Tribune piece, Bubble, schmubble - foil or trouble? Smith manages to touch on the dark matter debate, 'sweat equity', 'plutonomy', and the 'brave new world' views. Here's the introduction:
There seem to be only two possible explanations for the performance of global stock markets: Either they are on an ever more reckless binge that has no logical grounding, or they are operating on the basis of a new set of assumptions about conditions that used to be considered dangerous.
If the former argument proves true, as those of bearish sentiment predict, the markets are headed for a crash similar to that of 2000, when the dot-com bubble burst. Such is the underlying fragility, the bears say, that almost any piece of bad news - another spasm of violence in the Middle East, instability in a big oil-producing country, an outbreak of avian flu, a big corporate bankruptcy - could be the tipping point.
If the latter perspective is correct, the world has entered an era that will require new ways of measuring and interpreting economic data. In a globalized economy, those in this camp assert, what once moved markets no longer does, and we do not yet have all the tools needed to gauge what moves them now.
"Are massive U.S. imbalances sustainable? This is the hottest debate today in international finance," said David O'Rear, chief economist at the Hong Kong General Chamber of Commerce and a longtime voice on the bearish side of the question.
Is the US current account deficit sustainable? Are global stock markets heading for another crash? These are two issues discussed by Patrick L. Smith in the weekend edition of the International Herald Tribune piece, Bubble, schmubble - foil or trouble? Smith manages to touch on the dark matter debate, 'sweat equity', 'plutonomy', and the 'brave new world' views. Here's the introduction:
There seem to be only two possible explanations for the performance of global stock markets: Either they are on an ever more reckless binge that has no logical grounding, or they are operating on the basis of a new set of assumptions about conditions that used to be considered dangerous.
If the former argument proves true, as those of bearish sentiment predict, the markets are headed for a crash similar to that of 2000, when the dot-com bubble burst. Such is the underlying fragility, the bears say, that almost any piece of bad news - another spasm of violence in the Middle East, instability in a big oil-producing country, an outbreak of avian flu, a big corporate bankruptcy - could be the tipping point.
If the latter perspective is correct, the world has entered an era that will require new ways of measuring and interpreting economic data. In a globalized economy, those in this camp assert, what once moved markets no longer does, and we do not yet have all the tools needed to gauge what moves them now.
"Are massive U.S. imbalances sustainable? This is the hottest debate today in international finance," said David O'Rear, chief economist at the Hong Kong General Chamber of Commerce and a longtime voice on the bearish side of the question.
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Do me a favour. it is too much