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研究表明：中國(guó)，而不是華爾街，導(dǎo)致了08年的經(jīng)濟(jì)危機(jī)
China - Not Wall Street - Caused 2008 Crisis: Study
作者:翻譯加工廠 發(fā)布日期:2012-08-30 瀏覽:11642
譯文簡(jiǎn)介:你覺(jué)得2008年的全球經(jīng)濟(jì)危機(jī)是由次級(jí)貸款、債務(wù)抵押債券(CDOs)和其他華爾街的項(xiàng)目引起的么？你得再想想看了。
譯文來(lái)源:
原創(chuàng)翻譯：龍騰網(wǎng) 翻譯：翻譯加工廠 轉(zhuǎn)載請(qǐng)注明出處
正文翻譯:每人一小段，翻譯我也行！
翻譯加工廠，等你來(lái)認(rèn)領(lǐng)！
-------------譯者：freakmint-------------
Thought the global financial crisis in 2008 was caused by subprime bonds, collateralized debt obligations (CDOs) and other Wall Street engineering? Think again.
你覺(jué)得2008年的全球經(jīng)濟(jì)危機(jī)是由次級(jí)貸款、債務(wù)抵押債券(CDOs)和其他華爾街的項(xiàng)目引起的么？你得再想想看了。
According to a new study, China, not Wall Street bankers, was responsible for the global crisis and the ensuing recession.
根據(jù)一項(xiàng)新的研究，中國(guó)，而不是華爾街的銀行家們，應(yīng)該為這次全球經(jīng)濟(jì)危機(jī)以及之后的經(jīng)濟(jì)衰退負(fù)責(zé)。
The study from the Erasmus Research Institute of Management says the saving frenzy of the Chinese created the cheap money, which fueled the U.S. housing bubble and its collapse.
伊萊姆斯管理研究所的研究表明，中國(guó)對(duì)儲(chǔ)蓄的狂熱產(chǎn)生了廉價(jià)貨幣，而這直接導(dǎo)致了美國(guó)房地產(chǎn)泡沫的出現(xiàn)和行業(yè)的崩盤。
Heleen Mees, writer of the study and assistant economics professor at Tilburg University in the Netherlands, says that exotic mortgage products could hardly have been the cause of the U.S. housing market bubble and the its ultimate collapse.
荷蘭蒂爾堡大學(xué)的經(jīng)濟(jì)學(xué)助理教授Heleen Mees聲稱，外來(lái)的抵押產(chǎn)品很難導(dǎo)致美國(guó)房地產(chǎn)市場(chǎng)的泡沫，更不會(huì)致使市場(chǎng)崩盤。
According to the study, mortgages with those special features -- like mortgage-backed securities and CDOs -- accounted for less than five percent of the total number of new mortgages from 2000 to 2006.
根據(jù)這份研究，那些性質(zhì)特殊的抵押貸款——比如按揭證券和債務(wù)抵押證券——在2000年到2006年貸款抵押業(yè)務(wù)的比重中僅占不到5%。
Mees, author of three books and contributor for Foreign Policy magazine, says it was the "loose" monetary policy of the Federal Reserve at the beginning of the decade which sparked a refinancing boom in the U.S. in 2003 and 2004 and a growth in personal spending.
Mees，三本著作的作者和外交政策雜志的撰稿人，說(shuō)是美聯(lián)儲(chǔ)在最近十年初的寬松政策導(dǎo)致了03和04年興起并持續(xù)近十年的重新募集資金熱潮，并引發(fā)了個(gè)人消費(fèi)水平的上漲。
-------------譯者：命運(yùn)的方向-------------
This U.S. spending binge fueled economic growth in China and in turn boosted total savings in that country.
美國(guó)的消費(fèi)熱潮助長(zhǎng)了中國(guó)的經(jīng)濟(jì)增長(zhǎng)，反過(guò)又推動(dòng)了該國(guó)的總儲(chǔ)蓄水平。
The study, which compared financial market responses to U.S., Chinese and German quarterly GDP from 2006 through 2009, shows that the Chinese have been saving more than half of their GDP during that time. Those savings were heavily skewed towards fixed income assets like government bonds and depressed interest rates worldwide from 2004 on.
該研究把2006至2009年間美國(guó)，中國(guó)，德國(guó)每季度的GDP與金融市場(chǎng)的反應(yīng)作了對(duì)比。研究表明，在此期間，中國(guó)的儲(chǔ)蓄水平一直高于他們GDP的一半。這些儲(chǔ)蓄又向政府債券這類的固定收益資產(chǎn)嚴(yán)重傾斜，從而壓低了2004年以來(lái)世界范圍內(nèi)的利率水平。
This allowed for interest rates around the world to fall, and sparked a boom in the U.S. housing market due to the availability of cheap money.
由于可以獲得廉價(jià)資金，這就為全世界利率下降留出了余地，并引發(fā)了美國(guó)房地產(chǎn)市場(chǎng)的繁榮。
The study also argues that Ben Bernanke, chairman of the U.S. Federal Reserve, set the world up for the Great Recession by providing the "intellectual backing for the aggressive rate cuts in the early 2000s."
該項(xiàng)研究也認(rèn)為，美聯(lián)儲(chǔ)主席伯南克提供了支持在本世紀(jì)初的頭十年積極削減利率的智囊意見(jiàn)，從而一手導(dǎo)演了大蕭條。
With so many books out on the financial crisis, Mees recommends people read Economic Development with Unlimited Supplies of Labor by Arthur Lewis and she says people should avoid one of the blockbusters on the crisis, The Big Short by Michael Lewis
隨著許多關(guān)于金融危機(jī)的書籍的問(wèn)世，Mees推薦人們閱讀 Arthur Lewis寫的《Economic Development with Unlimited Supplies of Labor》(譯注：中文譯名《勞動(dòng)力無(wú)限供給下的經(jīng)濟(jì)發(fā)展》)一書，她書中說(shuō)，人們應(yīng)該避免其中一個(gè)金融危機(jī)大片的上演。還有Michael Lewis的《The Big Short》(譯注：中文譯名《大空頭》)。
評(píng)論翻譯:評(píng)論按照贊同數(shù)順序：
-------------譯者：魁瓜瓜-------------
Kenton • 11 hours ago
So, the US Federal Reserve's "loose money policy" sparking a spending boom based on low cost financing didn't cause the economic collapse...it was the Chinese for diligently saving from their meagre earnings.
Yeah! Right.
那么也就是說(shuō)，美聯(lián)儲(chǔ)的“貨幣寬松政策”雖然導(dǎo)致了基于低成本信貸的消費(fèi)急劇擴(kuò)張，卻不是引起經(jīng)濟(jì)崩潰的罪魁禍?zhǔn)�。。。該�?zé)怪的是那些從微薄收入中辛苦積攢的中國(guó)人。
好吧！你說(shuō)得對(duì)。
yahooreader 6 hours ago
E, interest rates are low mainly because the Fed has been and still is printing money like never before in US history. Maybe like the Romans did in their final decades.
厄，利率過(guò)低是因?yàn)槊缆?lián)儲(chǔ)直到現(xiàn)在還在大量印鈔，這種行為在美國(guó)歷史上前所未有，就像羅馬人在他們最后幾十年里所做的一樣。
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The Dude • 16 hours ago
"The saving frenzy of the Chinese created the cheap money, which fueled the U.S. housing bubble and its collapse". Yeah, and farmers cause the US obesity epidemic because they produce food.
“中國(guó)對(duì)儲(chǔ)蓄的狂熱產(chǎn)生了廉價(jià)貨幣，而這直接導(dǎo)致了美國(guó)房地產(chǎn)泡沫的出現(xiàn)和行業(yè)的崩盤�！闭f(shuō)的太好了，是農(nóng)民導(dǎo)致了美國(guó)人的肥胖癥，誰(shuí)叫他們把食物生產(chǎn)出來(lái)的。
yahooreader 6 hours ago
TD, best quote of the day: "farmers cause the US obesity epidemic because they produce food".
一針見(jiàn)血，近日最佳回復(fù)：“是農(nóng)民導(dǎo)致了美國(guó)人的肥胖癥，誰(shuí)叫他們把食物生產(chǎn)出來(lái)的�！�
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treesmiths3 • 12 hours ago
I thought we needed to blame Bush, or Cheney, or the wars. Now its the evil savers in China, how thoughtless of them. Blame anyone but ourselves!
我覺(jué)得我們應(yīng)該指責(zé)布什、切尼或者戰(zhàn)爭(zhēng)。把矛頭指向邪惡的中國(guó)儲(chǔ)蓄者，那幫人還真是夠無(wú)腦的。除了我們自己，誰(shuí)也別怪！
Alan Greenspan 6 hours ago
Forget these media crooks and liars. Go to AVA Investment Analytics for real insight from the man with the leading record on the collapse who has backed this claim with a $100,000 reward if you can prove otherwise.
忘了這幫媒體騙子吧。去AVA投資分析公司看看真正的分析吧，是由一個(gè)在危機(jī)中業(yè)績(jī)最好的家伙寫的，他懸賞十萬(wàn)美刀給能夠證明他錯(cuò)了的人。
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Chuck • 11 hours ago
Who wrote this cover piece for the banks and rating agencies? And your blaming the Chinese... Please.... whoever came up with this drivel needs to try again... What a trojan horse article.
這是誰(shuí)給那幫銀行和評(píng)級(jí)機(jī)構(gòu)寫的槍手文？指責(zé)中國(guó)人。。。幫幫忙。。。寫這篇弱智文章的家伙要再努力努力。。。這文章純屬幫倒忙。
Alan Greenspan 9 hours ago
To learn the truth about the CNBC crooks, go to AVA Investment Analytics and read "Watch TV Make Money Who is Really Making Money?" 11 part series on AVA site about CNBC and the rest of the media crooks who rip off their audience every day!
要了解CNBC那幫騙子的真相，去AVA看看這個(gè)系列報(bào)道，“誰(shuí)在真正賺錢系列之看電視賺錢？”一共AA集，在AVA網(wǎng)站上，講CNBC和其他媒體騙子每天是怎么狠宰觀眾的。
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Brian • 13 hours ago
I nominate this article for "dumbest article of the year."
我提名這篇文章為“年度最弱智文章”
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My name • 10 hours ago
This is kind of story Wall Street people like to hear. They can do anything to empty your saving and retirement now, since it is China's fault for them to create those empty trust.
這種故事華爾街那幫人愛(ài)聽(tīng)。他們無(wú)所不用的掏空我們的積蓄然后退休，反正有中國(guó)給他們(編出來(lái)的的假信托)背黑鍋。
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Tina • 13 hours ago Who
created all those trillions our of thin air for the Chinese to save? Alan Greenspan with his low rate policies to stimulate the economy ended up overseas with China. Duh.
憑空變出幾萬(wàn)億的鈔票，難道就為了給中國(guó)人存起來(lái)？格林斯潘刺激經(jīng)濟(jì)的低息政策最終便宜了中國(guó)人？哈。
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Maximus • 14 hours ago
This story has been told before ... Its very shallow. Perhaps a better analysis would to look at the impact of 30 years of outsourcing manufacturing that created trade imbalances and study the long term affects of that policy by US companies.
這故事以前有人講過(guò)。。。非常淺薄。要分析得更靠譜點(diǎn)可以去看下30年來(lái)制造業(yè)外流導(dǎo)致的貿(mào)易失衡所帶來(lái)的影響，也可以去研究下這些把制造部門搬到海外的美國(guó)公司所帶來(lái)的長(zhǎng)期影響。
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Papabear • 10 hours ago
buyers of trashes are the causes of the contaminations of trashes? that's the same logic as the victim of rape is the reason for rape to happen. only wall street banksters and their pets can come up with that kind of logic
買下垃圾的人是造成垃圾污染的原因？同樣的邏輯，被強(qiáng)奸的成了強(qiáng)奸發(fā)生的理由？只有華爾街那幫金融騙子和他們養(yǎng)的狗能想出這種邏輯。
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Vourn is Rad • 12 hours ago
Huh??? Greed was the cause of the collapse. Everyone who participated had a role. From those who really couldn't afford the subprime mortgages to the investors who bought and packaged it as hedged funds in the secondary market.
Everyone made off in one way or another til it all came crashing down.
哈？？？貪婪是崩潰的原因。所有參與者都有份，從那些真還不起次貸的家伙，到在二級(jí)市場(chǎng)里把次貸打包成封閉式基金的投資者。
每個(gè)人都以這種或那種方式溜走(譯者注：指斷供)，直到一切全完蛋。
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practicaltalk • 13 hours ago
when you cant swim, you put the blame on the manufacturer of the swimming costume and trunk. When you smoke heavily and was infected with terminal illness, you put the blame on the manufacturer of tobacco and the plantations..
如果你不會(huì)游泳，你去指責(zé)生產(chǎn)泳衣泳褲的廠家。如果你煙癮很大最終惡疾到了晚期，你去指責(zé)煙草商和種植園。。。
Daren Ma 5 hours ago
so are they encourage us to save less, spend more and borrow more, so we can be more in debt ???!!!!???,
那么他們鼓勵(lì)我們少存錢，多花錢，多借錢，讓我們背上一屁股債，有木有？？？�。。�？？？
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martin m • 7 hours ago
Saving is a good thing. It's what enables companies to borrow for capital expansion. The Chinese, and their money-saving ways, had nothing to do with the crazy lending practices and fraud perpetrated by the banks and Wall Street
存錢是好事。它使得公司能夠借到錢來(lái)進(jìn)行資本擴(kuò)張。中國(guó)人，還有他們的儲(chǔ)蓄之道，跟華爾街那幫人搞出來(lái)的瘋狂借貸與欺詐沒(méi)啥關(guān)系。
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Andi • 12 hours ago
So, the one thing I'm learning from this article is don't send your kids to Netherlands, Tillburg University or they are sure to be the dumbest college educated kids around blaming everybody else.. China created 2008 recession, the cow ate my homework, yada, yada, yada.. Can't believe she is an assistant professor.. I feel bad for the kids that are paying ridiculous tuition to learn from this professor.
好吧，我從這篇文章里學(xué)到一點(diǎn)，別把你的孩子送到荷蘭去。Tillburg 大學(xué)絕對(duì)是最傻逼的大學(xué)，教孩子們?cè)趺慈ブ肛?zé)其他人。。。是中國(guó)引發(fā)了08年的衰退，是母牛吃了我的作業(yè)等等等等...難以相信她居然還是副教授，真為那幫付錢去她那讀書的孩子感到難過(guò)。
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Fredna • 8 hours ago
If you look, the fed started dropping interest rates through the floor in during 2001 in the Clinton years (6% - 1.25%). Comparatively, China increased it US debt holdings by a factor of nearly 10 (181 billion to 1.6 Trillion). You wonder...
如果你觀察過(guò)，在01年克林頓時(shí)期，美聯(lián)儲(chǔ)開始降息，直降到谷底(從6%降到1.25%)。相比之下，中國(guó)持有的美國(guó)國(guó)債幾乎翻了10倍(從1810億到1.6萬(wàn)億)。你想想看。。。
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sandnig • 15 hours ago
So first she blames it on China and then for fear of getting backlash she says "The study also argues that Ben Bernanke, chairman of the U.S. Federal Reserve, set the world up for the Great Recession". Coward. Bernanke and Wall Street, they sleep together.
一開頭她指責(zé)中國(guó)，然后又害怕反對(duì)聲太大，補(bǔ)充道：“該研究同時(shí)認(rèn)為，是美聯(lián)儲(chǔ)主席伯南克，使世界做好了應(yīng)對(duì)大衰退的準(zhǔn)備”。懦夫伯南克和華爾街是睡一張床的。
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el fongerino • 16 hours ago
The money may have been cheap, but who figured out how to steal it? Not the Chinese, Heleen. What you're saying is that honest, hardworking people who save money encourage thieves, because they have surplus money available to be stolen. By your logic, the honest, hardworking person is guilty, not the thief. GMAB!
鈔票可能確實(shí)廉價(jià)了，但誰(shuí)教你去偷了么？不是中國(guó)人，Heleen。你的觀點(diǎn)是，誠(chéng)實(shí)勤勞的人攢錢給了小偷動(dòng)力，因?yàn)樗麄冇卸嘤嗟腻X可偷。按你的邏輯，誠(chéng)實(shí)、辛勤工作的人才是罪犯，小偷反倒不是。
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Steve • 7 hours ago
I am hearing Bart Simpson's saying, "I didn't do it." over and over in my head. Why?
為啥我腦子里在一遍遍回放Bart Simpson的那句名言：“我沒(méi)干過(guò)”。看了這篇文章。
我深刻的理解到，我吃東西，是因?yàn)槲乙�。。。早上就有人轉(zhuǎn)帖過(guò)了。。。
從另一個(gè)角度說(shuō)
這是體制問(wèn)題這文章才是真的思維廣樂(lè)趣多啊
不加入WTO就沒(méi)事為啥不明白問(wèn)題其實(shí)是制造業(yè)外流，還有財(cái)富分配問(wèn)題。當(dāng)年的信貸繁榮只是短期的興奮劑。
這個(gè)問(wèn)題我們遲早也要面對(duì)的，就別太樂(lè)觀了。要是不用自己交社保，當(dāng)宅男玩游戲還能領(lǐng)救濟(jì)金，依然活得很滋潤(rùn)，我寧愿零儲(chǔ)蓄中槍太多了，老中槍也不是個(gè)事
要是不用自己交社保，當(dāng)宅男玩游戲還能領(lǐng)救濟(jì)金，依然活得很滋潤(rùn)，我寧愿零儲(chǔ)蓄
welcome to sweden我才不告訴你我今天早上尿了一泡尿，會(huì)導(dǎo)致美國(guó)幾年之后洪澇災(zāi)害么？我才不告訴你我今天早上尿了一泡尿，會(huì)導(dǎo)致美國(guó)幾年之后洪澇災(zāi)害么？2B思維廣樂(lè)趣多