it is the link between speculation and asset prices that explains this crisis.
投机和资产价格之间的这种关系解释了这次金融危机。
this simultaneously pumps up asset prices and obscures their speculative nature, with euphoria usurping the place of analysis.
这在推高资产价格的同时还模糊了它们的投机本质,狂热篡夺了冷静分析的位置。
but in reality, consumer prices in countries with booming asset markets do not usually fall while asset prices rise; both usually rise in tandem.
但实际上,在资产市场繁荣的国家,资产价格上升时消费品价格通常不会下跌,而是一前一后上涨。
experience suggests it can drive asset prices well above the levels that cautious investors are willing to stomach.
经验表明,它能大大推升资产价格,即使是谨慎的投资者也会愿意出击。
asset prices and bubbles have momentum.
资产价格和泡沫已经加速。
asset prices such as stock prices collapsed.
资产价格如股票价格暴跌。
the jobless rate soared to 6.1% in august; with falling asset prices and tighter credit making it harder for consumers to borrow, lost paychecks will have a more immediate impact on their consumption.
失业率在八月份上升到6.1%。随着资产价格的下跌和紧缩的信贷使消费者的借贷更难,失去工资立即会对他们的消费能力有巨大的影响。
if asset prices have been propped up by low real rates, then a rise in rates will be bad news for stockmarkets.
如果现在的资产价格是由低实际利率支撑的,那么利率的上涨对股市来说无疑是个坏消息。
like previous blowups, the credit crunch has its roots in short-sighted monetary policy and in the tendency for bank lending, rising asset prices and strong gdp growth to reinforce each other.
像以前的泡沫破裂,信贷危机有它的根源,存在于货币政策的短视和向银行借款的趋向中,上扬的资产价格和走强的gdp增长互为增强。
the problem is not the rising asset prices themselves but rather their effect on the economy.
上扬的资产价格本身并不成问题,但价格上扬对经济的影响却是个问题。
one says: "asia is not without its risks: there are already signs that asset prices are overheating, so hsbc have to be careful.
有人认为:“亚洲并非没有风险:已经有迹象表明,亚洲资产价格正在向过热发展,因此,汇丰银行必须倍加小心。
yet in the long run creating money to prop up asset prices is not a sustainable tactic.
然而从长期来看,创造货币以支撑资产价格是种不可持续的手段。
but in recent years it has also argued that central banks should do more to counteract bubbles, even though asset prices are also set through the market mechanism.
但是近年来,它也认为,即便金融资产价格也要由市场机制决定,央行还是应该采取更多措施抑制金融资产泡沫。
therefore, it was the absence of sufficient short speculators when commodity and asset prices were rising sharply that helped widen the run up and eventual collapse in these prices.
因此,当商品和资产价格快速增长的时刻,正是由于缺乏足够的做空投机客们才使得价格持续上升并使得这些价格最终崩溃。
if neither a surge in inflation nor a bust in asset prices seem likely to derail china's economy over the next year or two, what about a recession in america?
在未来的一两年内,倘若通货膨胀的加剧或资产价格的下跌均不可能使中国经济偏离轨道,那么美国经济衰退又会怎样呢?