美国经济在一季度陷入寒冬

U.S. economy cools in first quarter

美国经济在一季度陷入寒冬



Larry Summers on why now is the time to invest

拉里·萨默斯正在讲诉为什么现在是投资的好时机

America's economy has cooled down this year.

美国经济今年开始冷却。

[copy]The U.S. gross domestic product, the broadest measure of economic growth, only rose 0.2% in the first quarter, well below expectations that growth would be 1%.

美国gdp,一个经济成长的广义指标，今年首季度仅增长了0.2%，远低于预期的1%。

It's better than a year ago when the "Polar Vortex" turned the GDP negative, but it's still not welcome news. The cold winter weather, the strong U.S. dollar and West Coast port strike contributed to the weak economic growth this year.

这比一年前因“极地气旋”造成的糟糕gdp要好些，但也不是什么好消息。寒冷的冬季，强势美元和西海岸海港罢工造成了今年脆弱的gdp增长。[/copy]

"The U.S. economy stumbled badly in the first quarter," says Scott Anderson, chief economist at Bank of the West.

美西银行高级经济学家斯科特·安德森说，“今年首季度，美国经济跌的很惨。”

The sluggish growth raised two warning signs. Business spending fell off a cliff. Investments in structures -- new office buildings or renovations -- fell 23% in the first quarter, the biggest decline in any category of GDP.

这个糟糕的增长加剧了两种风险。企业开支断崖式下跌。建筑行业投资 —— 新建或翻新的写字楼 —— 首季度下跌了23%，这是gdp所有类别中下滑最严重的。

The port strike and strong dollar really hurt U.S. businesses abroad too. Exports declined over 7%. Although the strong dollar is great for American travelers, it makes U.S. products, like cars, more expensive abroad and less attractive to foreign buyers.

港口罢工和强势美元也重创了美国出口。出口下滑超过7%。即使强势美元对美国旅游者很有利，但它也让美国产品（比如汽车）的出口价格更加昂贵，让海外买家望而却步。



But above all, it was just really cold. Some parts of the U.S. received record amounts of snow. That weather canceled flights, closed schools and shuttered businesses for several days.

但是，最重要的是，真正的寒冬。美国一些区域的降雪量创造了历史记录。航班因此取消，学校因此关闭，商业停止经营很多天。

[copy]"The economy is just stalled," says Marie Schofield, chief economist at Columbia Threadneedle Investments in Boston. "The Northeast and the Midwest were hit really hard by weather."

“经济失速，”波士顿哥伦比亚天利投资高级经济学家玛丽·斯科菲尔德说，“东北和中西部受气候影响极大。”

The silver lining is that 2015 could be a repeat of last year: Weak growth in the first few months followed by a robust comeback for the rest of the year. There was one solid sign in first quarter GDP: consumer spending rose more than expected, but was much weaker than the previous three quarters.

一线生机是，2015年可能会复制去年的轨迹：首季度几个月增长疲弱，接下来出现强劲增长。首季度gdp中有一个稳健的信号：消费增长超出预期，但是，比起之前的三个季度，还是太弱了。[/copy]

Still, it doesn't appear that consumers are spending their savings from low gas prices at the pump. That was expected to give the economy some momentum coming in to the new year, economists say. Four months later, there's little evidence that Americans are spending that extra cash.

然而，消费者似乎并没有打算在低油价中花掉更多的钱。经济学家称，人们曾经寄望于低油价成为新一年经济增长的动能。可四个月后，尚没有任何证据证明美国人的额外开支在增加。



标头：gdp
表格：2013-2015年各季度环比增速（折年率）

The meager first quarter economic growth concludes a string of bad news in the past few weeks.

低迷的首季经济增速在过去几周造成了一系列的坏消息。

American consumers make up the majority of economic activity, and it's clear that they haven't spent much in 2015. Retail sales -- such as buying a cell phone or getting groceries -- rose a meager 0.9% in March and were negative in February. Construction on new homes, another key indicator of consumer spending, was down in March from a year ago.

美国的消费者组成了美国经济活动的主体，很明显，在2015年，他们并没有花很多钱。零售销售额 —— 比如买手机或者购买杂货 —— 3月份仅仅增长了0.9%，2月份甚至是负增长。新建住房（另一个关键的消费指标），也在3月份同比下降。

And March's jobs report was, by any measure, a major disappointment. The economy only added 126,000 jobs in March, driving concerns that hiring could be slowing down.

任何机构统计出的3月份就业报告，都让人非常沮丧。3月份仅仅新增了12.6万个工作岗位，让人们担心企业的雇佣在持续减速。

But perhaps the biggest impact of America's weak first quarter GDP is the Federal Reserve's much anticipated rate hike, which will affect millions of people and markets across the globe.

但是，首季度gdp疲弱的最大影响可能就是美联储的加息预期，这会影响数百万人和全球市场。

The Fed releases its statement Wednesday afternoon, but it's not expected to raise rates in April. In fact, given the lukewarm GDP figure, the central bank won't raise rates in June, economists argue. They say there simply isn't enough positive news between now and the Fed's June meeting to justify a rate hike.

美联储在周三下午发布了它的报告，但是，4月份并没有如预期的加息。事实上，考虑到不温不火的gdp数字，经济学家争辩称，美国央行也不会在6月份加息。他们说，很显然，从现在到美联储6月会议前，并不会有足够的好消息以支撑加息的合理性。

It now appears almost certain that the Fed won't act on rates until September or later.

看来，已经确定的事实是，美联储要等到9月份甚至更久以后才会考虑改变利率的行动。

"They're going to delay until September," says Anderson. "These numbers certainly don't cut it."

“美联储一定会推迟到9月以后再行动，”安德森说，“不可能更早了。”

评论翻译

Timothy Guillemette
18 hours ago
Yes, yes... the weather.. ofc.

是啊，是啊。。。是天气。。官方的。

Sally Snyder
18 hours ago
Here is an article that looks at one of the key reasons why GDP growth has been relatively modest since the end of the Great Recession:
http://viableopposition.blogspot ... m-quantitative.html
One sector of the economy has been the biggest beneficiary of the Fed's massive monetary experiment.

这里有一篇文章，剖析了金融危机后gdp增速不温不火的原因：
http://viableopposition.blogspot ... m-quantitative.html
有一个经济部门成为了美联储巨大货币实验的最大获益者。

MLeRoy
18 hours ago
@sally Snyder Here's the takeaway line from your link: "the Federal Reserve's actions since 2008 may have prevented the economy from collapsing completely".
Yes.

@Sally Snyder 你的链接里有一个外链：“2008年后美联储的行动有可能已经避免了经济危机的彻底失控”。

是的

whatMandate1
18 hours ago
Let's get one thing out of the way before the party first agenda's crowd take over, economies regardless of whose in control, have up and down cycles. Recessions seem to happen basically in a 7-10 year window. I would say the key reason GDP growth has been modest, stagnant wages the last decade or so.
So again I state, the last place the FED wants to be heading into the next recession, at or near zero with a bloated balance sheet already in the trillions. Why this article would even suggest last year Q1 means anything towards this year is beyond me. Each year and quarter takes on it's own life and challenges.
Going back on over 60 years of data, I couldn't find any year(average) where we have had deflation as represented by the core CPI. Going back decades, you can't find any period where Fed rates have been kept this low for this long. Bottom line, absolutely nobody can claim to be an expert on this Fed massive monetary experiment. Which has been also Globally adopted. We are truly in uncharted waters.

让我们在水军占领这里之前，谈一点不同寻常的事，
经济，不论由谁控制，都是上下浮动的。衰退看起来每7-10年就会发生一次。我们总会说，最主要的原因是，gdp增长减速，工资增长十年停滞或者其他原因。
那么，我最后说一遍，是美联储让资产负债表膨胀到数万亿，让经济增速降至或接近于0，从而引导至下一次经济衰退。可让我不能理解的是，这篇文章竟然认为去年的Q1会影响到今年。事实上，每年或每季度的经济都有它自己的生命和挑战。
回忆我们超过60年的数据，我发现没有任何一年（年平均）出现了CPI意义上的通货紧缩。倒退几十年，你会发现，美联储利率从来没有像现在这样低的同时又持续了这么长时间。总之，没人敢说自己能搞懂美联储这场大规模的货币实验。这场实验现在已经被全球复制，我们的经济现在已经进入了一场全新的大冒险。

DustinG
18 hours ago
@whatMandate1
The reason the Fed has to keep interest rates so low is that our economy is on life support right now and the Fed is the life support.
For over 220 years our Economy has been fueled by demand side economics. The middle class grew first due to family farms, then manufacturing, then the service industries. The demand they created provided the fuel for industry which resulted in continual growth in GDP.
Now that jobs have been either off shored or automated away, we have lost the number one method of wealth redistribution from the rich to the middle class. This weakens the middle class which decreases demand. Without demand you can get deflation or something close to it which is what you are seeing now.
It is not the Fed that is causing this problem it is the Fed that is going the extra mile to try to prevent it. That said, the last thing we want to do is to take the economy off the Fed's life support.
@whatMandate1

美联储必须保持如此低利率的原因是，我们的经济现在已经处在生命垂危阶段，而美联储就是那根输液管。
超过220年的历史中，我们的经济都是需求驱动的。中产阶级首先在家庭农场中产生，然后，在制造业中产生，然后，在服务业中产生。是他们的需求提供了生产的动能，生产发展的结果就是gdp的增长。
既然工作岗位已经被驱逐到海外或者自动离去，那么，我们就失去了让财富从富人转移到中产阶级的最主要手段。这削弱了中产阶级，让他们的需求下降。没有了需求，你就看到了现在的悲剧——通货紧缩或近似的通货紧缩。
现在的麻烦不是美联储造成的，美联储正在尝试新的办法来避免它。也就是说，我们最不该做的事就是——把美联储这个经济输液管拔掉。

Tom Evans
18 hours ago
@DustinG @whatMandate1
Based upon the scenario you've described it seems like the Fed will have to maintain this life support forever.

@DustinG @whatMandate1
根据你的剧本，看起来美联储不得不让输液管永远输液下去了。

JohnnyD321
18 hours ago
@tom Evans @DustinG @whatMandate1  That seems likely.

@Tom Evans @DustinG @whatMandate1  很有可能。

whatMandate1
18 hours ago
@DustinG @whatMandate1
We have not seen deflation on a annual basis in over 60 plus years of data in the Core CPI numbers and we aren't likely to see deflation on an annual basis now. At least that's what the history has shown us.
The FED is causing massive ASSET inflation. And it's going that extra mile to make that bubble gets even far bigger. The last thing we want to do is keep the economy on Fed life support an create a far bigger problem then the original one. Yet that is exactly what we are doing. IMO of course.
@DustinG @whatMandate1

我们从未见过CPI意义上的通货紧缩（按年），我们现在也不可能看到通货紧缩（按年）。至少，历史向我们证明了。
美联储正在造成大规模资产通胀。它正在尝试新办法让这个泡沫越来越大。我们最不该做的事就是——让经济继续由美联储输液维持，来造成一个更大的问题，然后，一地鸡毛。可是，我们现在却正在做它。在我看来就是这样。

Dcoronata
18 hours ago
@DustinG @whatMandate1 Incorrect.
The fed does not control interest rates, the free market does.
Can you show me where it says the banks must charge (or pay) what the Fed tells them to?

@DustinG @whatMandate1 大错特错。
美联储并没有控制利率，是自由市场在控制。
你能告诉我在什么情况下，银行必须要收取（或支付）美联储告诉他们的利率？

Tom Evans
18 hours ago
@Dcoronata @DustinG @whatMandate1
If the Fed has no control over interest rates then what do they hope to accomplish with their zero interest rate policy?
@Dcoronata @DustinG @whatMandate1

如果美联储没有控制利率，那么，他们想通过什么方式来实现他们的零利率政策？

Dcoronata
18 hours ago
@Tom Evans @Dcoronata @DustinG @whatMandate1 They hope to reduce the cost of borrowing, but they do not control the cost of borrowing.
There is a difference between mandating and trying to influence rates.  Unfortunately most people do not understand this..

@Tom Evans @Dcoronata @DustinG @whatMandate1 他们想降低贷款成本，但是，他们并没有控制贷款成本。

直接操控与影响利率之间是有区别的。不幸的是，大部分人都理解不了。

Ricky Vee
18 hours ago
@Dcoronata @DustinG @whatMandate1 The problem is this is NOT a free markets it is a MANAGED market. The markets react to FED statements, proof they are reactionary to FED policy alone.

@Dcoronata @DustinG @whatMandate1 问题是，这不是一个自由市场，这是一个被操纵的市场。 市场对美联储的报告做出反应，证明了他们只是单方面对美联储的政策作出反应。

Dcoronata
18 hours ago
@ricky Vee @Dcoronata @DustinG @whatMandate1 Kindly compare and contrast the US interest rates with those of other nations.
We actually are near (or at) the TOP for most OECD nations.

@Ricky Vee @Dcoronata @DustinG @whatMandate1 拿美国利率与其他国家利率做下对比。
我们在经合国家中几乎（或已经）最高了。

Ricky Vee
18 hours ago
@DustinG @whatMandate1 Totally agree... QE 4 on the horizon and it will be bigger than QE1, 2 and 3 combined.

@DustinG @whatMandate1 完全赞同。。。QE4已经箭在弦上，而且它要比QE1还要大2到3倍。

http://m.ltaaa.com/Index-article-pid-16482.html

U.S. economy cools in first quarter

美国经济在一季度陷入寒冬



Larry Summers on why now is the time to invest

拉里·萨默斯正在讲诉为什么现在是投资的好时机

America's economy has cooled down this year.

美国经济今年开始冷却。

[copy]The U.S. gross domestic product, the broadest measure of economic growth, only rose 0.2% in the first quarter, well below expectations that growth would be 1%.

美国gdp,一个经济成长的广义指标，今年首季度仅增长了0.2%，远低于预期的1%。

It's better than a year ago when the "Polar Vortex" turned the GDP negative, but it's still not welcome news. The cold winter weather, the strong U.S. dollar and West Coast port strike contributed to the weak economic growth this year.

这比一年前因“极地气旋”造成的糟糕gdp要好些，但也不是什么好消息。寒冷的冬季，强势美元和西海岸海港罢工造成了今年脆弱的gdp增长。[/copy]

"The U.S. economy stumbled badly in the first quarter," says Scott Anderson, chief economist at Bank of the West.

美西银行高级经济学家斯科特·安德森说，“今年首季度，美国经济跌的很惨。”

The sluggish growth raised two warning signs. Business spending fell off a cliff. Investments in structures -- new office buildings or renovations -- fell 23% in the first quarter, the biggest decline in any category of GDP.

这个糟糕的增长加剧了两种风险。企业开支断崖式下跌。建筑行业投资 —— 新建或翻新的写字楼 —— 首季度下跌了23%，这是gdp所有类别中下滑最严重的。

The port strike and strong dollar really hurt U.S. businesses abroad too. Exports declined over 7%. Although the strong dollar is great for American travelers, it makes U.S. products, like cars, more expensive abroad and less attractive to foreign buyers.

港口罢工和强势美元也重创了美国出口。出口下滑超过7%。即使强势美元对美国旅游者很有利，但它也让美国产品（比如汽车）的出口价格更加昂贵，让海外买家望而却步。



But above all, it was just really cold. Some parts of the U.S. received record amounts of snow. That weather canceled flights, closed schools and shuttered businesses for several days.

但是，最重要的是，真正的寒冬。美国一些区域的降雪量创造了历史记录。航班因此取消，学校因此关闭，商业停止经营很多天。

[copy]"The economy is just stalled," says Marie Schofield, chief economist at Columbia Threadneedle Investments in Boston. "The Northeast and the Midwest were hit really hard by weather."

“经济失速，”波士顿哥伦比亚天利投资高级经济学家玛丽·斯科菲尔德说，“东北和中西部受气候影响极大。”

The silver lining is that 2015 could be a repeat of last year: Weak growth in the first few months followed by a robust comeback for the rest of the year. There was one solid sign in first quarter GDP: consumer spending rose more than expected, but was much weaker than the previous three quarters.

一线生机是，2015年可能会复制去年的轨迹：首季度几个月增长疲弱，接下来出现强劲增长。首季度gdp中有一个稳健的信号：消费增长超出预期，但是，比起之前的三个季度，还是太弱了。[/copy]

Still, it doesn't appear that consumers are spending their savings from low gas prices at the pump. That was expected to give the economy some momentum coming in to the new year, economists say. Four months later, there's little evidence that Americans are spending that extra cash.

然而，消费者似乎并没有打算在低油价中花掉更多的钱。经济学家称，人们曾经寄望于低油价成为新一年经济增长的动能。可四个月后，尚没有任何证据证明美国人的额外开支在增加。



标头：gdp
表格：2013-2015年各季度环比增速（折年率）

The meager first quarter economic growth concludes a string of bad news in the past few weeks.

低迷的首季经济增速在过去几周造成了一系列的坏消息。

American consumers make up the majority of economic activity, and it's clear that they haven't spent much in 2015. Retail sales -- such as buying a cell phone or getting groceries -- rose a meager 0.9% in March and were negative in February. Construction on new homes, another key indicator of consumer spending, was down in March from a year ago.

美国的消费者组成了美国经济活动的主体，很明显，在2015年，他们并没有花很多钱。零售销售额 —— 比如买手机或者购买杂货 —— 3月份仅仅增长了0.9%，2月份甚至是负增长。新建住房（另一个关键的消费指标），也在3月份同比下降。

And March's jobs report was, by any measure, a major disappointment. The economy only added 126,000 jobs in March, driving concerns that hiring could be slowing down.

任何机构统计出的3月份就业报告，都让人非常沮丧。3月份仅仅新增了12.6万个工作岗位，让人们担心企业的雇佣在持续减速。

But perhaps the biggest impact of America's weak first quarter GDP is the Federal Reserve's much anticipated rate hike, which will affect millions of people and markets across the globe.

但是，首季度gdp疲弱的最大影响可能就是美联储的加息预期，这会影响数百万人和全球市场。

The Fed releases its statement Wednesday afternoon, but it's not expected to raise rates in April. In fact, given the lukewarm GDP figure, the central bank won't raise rates in June, economists argue. They say there simply isn't enough positive news between now and the Fed's June meeting to justify a rate hike.

美联储在周三下午发布了它的报告，但是，4月份并没有如预期的加息。事实上，考虑到不温不火的gdp数字，经济学家争辩称，美国央行也不会在6月份加息。他们说，很显然，从现在到美联储6月会议前，并不会有足够的好消息以支撑加息的合理性。

It now appears almost certain that the Fed won't act on rates until September or later.

看来，已经确定的事实是，美联储要等到9月份甚至更久以后才会考虑改变利率的行动。

"They're going to delay until September," says Anderson. "These numbers certainly don't cut it."

“美联储一定会推迟到9月以后再行动，”安德森说，“不可能更早了。”

评论翻译

Timothy Guillemette
18 hours ago
Yes, yes... the weather.. ofc.

是啊，是啊。。。是天气。。官方的。

Sally Snyder
18 hours ago
Here is an article that looks at one of the key reasons why GDP growth has been relatively modest since the end of the Great Recession:
http://viableopposition.blogspot ... m-quantitative.html
One sector of the economy has been the biggest beneficiary of the Fed's massive monetary experiment.

这里有一篇文章，剖析了金融危机后gdp增速不温不火的原因：
http://viableopposition.blogspot ... m-quantitative.html
有一个经济部门成为了美联储巨大货币实验的最大获益者。

MLeRoy
18 hours ago
@sally Snyder Here's the takeaway line from your link: "the Federal Reserve's actions since 2008 may have prevented the economy from collapsing completely".
Yes.

@Sally Snyder 你的链接里有一个外链：“2008年后美联储的行动有可能已经避免了经济危机的彻底失控”。

是的

whatMandate1
18 hours ago
Let's get one thing out of the way before the party first agenda's crowd take over, economies regardless of whose in control, have up and down cycles. Recessions seem to happen basically in a 7-10 year window. I would say the key reason GDP growth has been modest, stagnant wages the last decade or so.
So again I state, the last place the FED wants to be heading into the next recession, at or near zero with a bloated balance sheet already in the trillions. Why this article would even suggest last year Q1 means anything towards this year is beyond me. Each year and quarter takes on it's own life and challenges.
Going back on over 60 years of data, I couldn't find any year(average) where we have had deflation as represented by the core CPI. Going back decades, you can't find any period where Fed rates have been kept this low for this long. Bottom line, absolutely nobody can claim to be an expert on this Fed massive monetary experiment. Which has been also Globally adopted. We are truly in uncharted waters.

让我们在水军占领这里之前，谈一点不同寻常的事，
经济，不论由谁控制，都是上下浮动的。衰退看起来每7-10年就会发生一次。我们总会说，最主要的原因是，gdp增长减速，工资增长十年停滞或者其他原因。
那么，我最后说一遍，是美联储让资产负债表膨胀到数万亿，让经济增速降至或接近于0，从而引导至下一次经济衰退。可让我不能理解的是，这篇文章竟然认为去年的Q1会影响到今年。事实上，每年或每季度的经济都有它自己的生命和挑战。
回忆我们超过60年的数据，我发现没有任何一年（年平均）出现了CPI意义上的通货紧缩。倒退几十年，你会发现，美联储利率从来没有像现在这样低的同时又持续了这么长时间。总之，没人敢说自己能搞懂美联储这场大规模的货币实验。这场实验现在已经被全球复制，我们的经济现在已经进入了一场全新的大冒险。

DustinG
18 hours ago
@whatMandate1
The reason the Fed has to keep interest rates so low is that our economy is on life support right now and the Fed is the life support.
For over 220 years our Economy has been fueled by demand side economics. The middle class grew first due to family farms, then manufacturing, then the service industries. The demand they created provided the fuel for industry which resulted in continual growth in GDP.
Now that jobs have been either off shored or automated away, we have lost the number one method of wealth redistribution from the rich to the middle class. This weakens the middle class which decreases demand. Without demand you can get deflation or something close to it which is what you are seeing now.
It is not the Fed that is causing this problem it is the Fed that is going the extra mile to try to prevent it. That said, the last thing we want to do is to take the economy off the Fed's life support.
@whatMandate1

美联储必须保持如此低利率的原因是，我们的经济现在已经处在生命垂危阶段，而美联储就是那根输液管。
超过220年的历史中，我们的经济都是需求驱动的。中产阶级首先在家庭农场中产生，然后，在制造业中产生，然后，在服务业中产生。是他们的需求提供了生产的动能，生产发展的结果就是gdp的增长。
既然工作岗位已经被驱逐到海外或者自动离去，那么，我们就失去了让财富从富人转移到中产阶级的最主要手段。这削弱了中产阶级，让他们的需求下降。没有了需求，你就看到了现在的悲剧——通货紧缩或近似的通货紧缩。
现在的麻烦不是美联储造成的，美联储正在尝试新的办法来避免它。也就是说，我们最不该做的事就是——把美联储这个经济输液管拔掉。

Tom Evans
18 hours ago
@DustinG @whatMandate1
Based upon the scenario you've described it seems like the Fed will have to maintain this life support forever.

@DustinG @whatMandate1
根据你的剧本，看起来美联储不得不让输液管永远输液下去了。

JohnnyD321
18 hours ago
@tom Evans @DustinG @whatMandate1  That seems likely.

@Tom Evans @DustinG @whatMandate1  很有可能。

whatMandate1
18 hours ago
@DustinG @whatMandate1
We have not seen deflation on a annual basis in over 60 plus years of data in the Core CPI numbers and we aren't likely to see deflation on an annual basis now. At least that's what the history has shown us.
The FED is causing massive ASSET inflation. And it's going that extra mile to make that bubble gets even far bigger. The last thing we want to do is keep the economy on Fed life support an create a far bigger problem then the original one. Yet that is exactly what we are doing. IMO of course.
@DustinG @whatMandate1

我们从未见过CPI意义上的通货紧缩（按年），我们现在也不可能看到通货紧缩（按年）。至少，历史向我们证明了。
美联储正在造成大规模资产通胀。它正在尝试新办法让这个泡沫越来越大。我们最不该做的事就是——让经济继续由美联储输液维持，来造成一个更大的问题，然后，一地鸡毛。可是，我们现在却正在做它。在我看来就是这样。

Dcoronata
18 hours ago
@DustinG @whatMandate1 Incorrect.
The fed does not control interest rates, the free market does.
Can you show me where it says the banks must charge (or pay) what the Fed tells them to?

@DustinG @whatMandate1 大错特错。
美联储并没有控制利率，是自由市场在控制。
你能告诉我在什么情况下，银行必须要收取（或支付）美联储告诉他们的利率？

Tom Evans
18 hours ago
@Dcoronata @DustinG @whatMandate1
If the Fed has no control over interest rates then what do they hope to accomplish with their zero interest rate policy?
@Dcoronata @DustinG @whatMandate1

如果美联储没有控制利率，那么，他们想通过什么方式来实现他们的零利率政策？

Dcoronata
18 hours ago
@Tom Evans @Dcoronata @DustinG @whatMandate1 They hope to reduce the cost of borrowing, but they do not control the cost of borrowing.
There is a difference between mandating and trying to influence rates.  Unfortunately most people do not understand this..

@Tom Evans @Dcoronata @DustinG @whatMandate1 他们想降低贷款成本，但是，他们并没有控制贷款成本。

直接操控与影响利率之间是有区别的。不幸的是，大部分人都理解不了。

Ricky Vee
18 hours ago
@Dcoronata @DustinG @whatMandate1 The problem is this is NOT a free markets it is a MANAGED market. The markets react to FED statements, proof they are reactionary to FED policy alone.

@Dcoronata @DustinG @whatMandate1 问题是，这不是一个自由市场，这是一个被操纵的市场。 市场对美联储的报告做出反应，证明了他们只是单方面对美联储的政策作出反应。

Dcoronata
18 hours ago
@ricky Vee @Dcoronata @DustinG @whatMandate1 Kindly compare and contrast the US interest rates with those of other nations.
We actually are near (or at) the TOP for most OECD nations.

@Ricky Vee @Dcoronata @DustinG @whatMandate1 拿美国利率与其他国家利率做下对比。
我们在经合国家中几乎（或已经）最高了。

Ricky Vee
18 hours ago
@DustinG @whatMandate1 Totally agree... QE 4 on the horizon and it will be bigger than QE1, 2 and 3 combined.

@DustinG @whatMandate1 完全赞同。。。QE4已经箭在弦上，而且它要比QE1还要大2到3倍。

http://m.ltaaa.com/Index-article-pid-16482.html