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上期翻译答案
that’s the contention of researchers at harvard business school, who find, in two separate sectors of the economy, that the combination （of rapid credit growth and asset-price gains during the prior three years ）is associated witha 40 percent probability of entering a financial crisis within the next three years.
这就是哈佛商学院研讨人员的观念，他们发现，在经济两个不一样的部分里，假定前三年里告贷快速增加且资产价格上涨，会有40%的可以性致使后三年发生金融危机。
《本期内容》
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导读
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游戏驿站股价逼空作业被外界称作散户打败华尔街空头的史诗级博弈，可是，在1月28日环绕“游戏驿站”的股价呈现了白热化抢夺战，当天该股盘中曾17次熔断，暴升暴降替换。当日“游戏驿站”收盘价暴降了43.18%，跌至197.44美元。至今，环绕该股市的大规划买入、兜销仍在持续。
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双语阅览
much has been written about whether the gamestop trading fiasco is the result of illegal flashmobsor righteous retail investorsstormingariggedfinancial system. robinhood’s decision to block its retail customers from purchasing the stock whilehedge fundscontinued trading elsewhere has turned the event into a david and goliath story.
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关于游戏驿站生意惨剧究竟对错法快闪族致使的，仍是正义的散户出资者冲击受操作的金融体系致使的，现已有太多文章谈论。罗宾汉（线上券商生意公司）抉择阻止其散户客户收购该股市，而对冲基金在其他当地持续生意，这使整件事端成了一个“大卫敌对歌利亚”的故事。
but that story is predicated on a false idea, which is that markets that have been “democratised” and that people trading on their phones somehow represent a more inclusive capitalism.they do not. markets and democracy are not the same thing, although most politicians — democrats and republicans — have acted since the 1980s as if they were.
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但这种描绘方法树立在一个差错的观念上，即商场现已“民主化”，我们在手机上生意某种程度上代表了一种更具包容性的本钱主义。并不是这样的。商场和民主完尽是两码事，尽管自上世纪80年代以来，大都政客——不管是民主党人仍是共和党人——的所作所为让我们认为这如同是一回事。
that period was marked by market deregulation, greater central bank intervention tosmooth outthe business cycle via monetary policy following the end of the bretton woods exchange rate system, and the rise of shareholder capitalism. this combined to begin moving the american economy from one in which prosperity was based on secure employment and income grow

th, to one in which companies and many consumers focused increasingly on ever-rising asset prices as the most important measure of economic health.
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那个时期的特征是商场控制放松，在布雷顿森林汇率准则结束、股东制本钱主义鼓起之后，中心银行经过钱银方针加大滑润经济周期的干与力度。翻译划线句，长按文末小程序码打卡，答案下期发布~
right now, short-term fiscal stimulus aimed at easing the economic pain from covid-19 is distorting the picture. but putting that aside, the us economy is at a point where capital gains and distributions from individual retirement accounts make up such a large proportion of personal consumption expenditure that it would be difficult for growth to continue if there were a major correction in asset prices.
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当前，意图减轻新冠肺炎致使的经济阵痛的短期财务影响正在歪曲局势。但这件事暂时不谈，美国经济当前的情况是，自个退休账户的本钱利得和发的钱在自个花费开支中占的比例非常大，假定资产价格呈现严峻调整，美国经济将难以持续增加。
that is one reason why the gamestop story has so unnerved people. it reminds americans how incredibly dependent we all are on markets that can be very, very volatile. the transformation of markets put more short-term pressure on companies, which cut costs byoutsourcing, automating, using less union labour anddumpingdefined benefit pensions for 401k plans, which put responsibility for choosing investments, and the risks of bad outcomes, on individual workers.
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这就是游戏驿站作业为啥让我们感到这么不安的缘由。它提示了美国人，咱们一切人对商场的依靠程度是多么大，而商场又极端不平稳。商场的改动给公司带来了更多的短期压力，公司经过外包、主动化、削减运用工会劳作力以及将固定福利养老金甩给401k方案（一种完全基金式的养老稳妥准则）来削减本钱，而401k方案把选择出资的责任以及不良成果的风险让工人自个承担。
这篇文章节选自：financial times（金融时报）
发布时刻：2021.02.09
作者：rana foroohar
原文标题：the biggest lesson of gamestop
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词汇堆集
1.mob

英 /m?b/ 美 /m?b/

n.暴民，坏人；民众；乌合之众
vt.大举围住，进犯；蜂拥进入
vi.聚众惹事，聚众滋事
2.storm

英 /st??m/ 美 /st??m/

n.暴风雨；大骚动
vi.起风暴；横行无忌；狂怒吼怒
vt.猛攻；怒骂
3.rig

英 /r?ɡ/ 美 /r?ɡ/

v.操作；设备；打扮；装上索具；为……供给服装
n.配备；钻探设备；服装；帆装；重型铰接式开车
4.outsourcing

英 /?a?t?s??s??/ 美 /?a?t?s??s??/

n.外包；外购；外部采办
5.dump

英 /d?mp/ 美 /d?mp/

vt. 乱放，乱堆；丢掉、埋葬〔废物〕；扔掉，甩掉〔或人〕；〔在国外〕推销〔货品〕；转运、转出
n. 废物场，废品堆；军需品库房[存放处]；凌乱的居住地，龌龊当地；转储

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词组分配
1.hedge fund 对冲基金
2.smooth out 消除；使滑润
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写作句总结
much has been written about whether the gamestop trading fiasco is the result of illegal flash mobs or righteous retail investors storming a rigged financial system.
规划: much has been written about whether … or ….
是不是…已被热议好久
例句: much has been written about whether to marry or to thrive first.
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打卡作业
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