为平衡方程序，总的来说，美国人就不得不出售资产(股票，不动产)或者从国外借款(通过发行财政长期债券)来偿还他们购买的商品。
To balance out the equation, Americans, in the aggregate, either have to sell assets (stocks, real estate) or borrow money from abroad (by issuing Treasury bonds) to pay for the goods they buy.
所以，现在你知道两个基本的证券：拥有权和借款，也就是常说的股票和债券。
So, you now know about the two basic securities: equity and debt, better known as stocks and bonds.
所以正是借款的好时机，但是股票价格也很低。
So it's really a good time to borrow, but stock prices were pretty low.
以股票回购为例，公司动用其现金（或借款）以缩减股本。
Take share buy-backs, for instance. Companies used their cash (or borrowed money) to reduce their share capital.
这笔借款最初激发了在房地产和股票上狂热的投机。
The lending initially triggered feverish speculation in real estate and stocks.
为评定危机的绝对风险需要估计外部筹资需求（定义为经常账户余额和股票短期借款的总和）在接下来的12个月中。
To assess the absolute risk of a crisis you need to estimate external-financing needs (defined as the sum of the current-account balance and the stock of short-term debt) over the next 12 months.
而且，当股价下跌时，借款者通常可以通过出售部分股票，使其贷款/价值比重归平衡。
Moreover, when stock prices fall, borrowers can usually get their loan-to-value ratios back into balance by selling some of the shares.
2009年，Groupon曾拨给梅森一笔借款用以购买一些股票，这些钱他只还了一部分。
In 2009, Groupon gave Mason a loan to buy some shares, which he repaid only in part.
他们可以从银行借款、靠出售股票或债券筹资，或者直接从任意数量的投资者那里筹集资金。
They can borrow from a bank, raise money selling stocks or bonds, or seek funds directly from any number of investors.
比如说日本，在20世纪80年代，随着股票及房产抵押物价格的上涨，日本企业的借款量飙升。
In Japan, for instance, corporate borrowing soared in the 1980s against the collateral of rising share and property prices.
例如，购买有息债券或股票只需首付10%，其余的90%则是借款。
For example, buying bond or stock with down payment of 10% and borrowing of 90%.
里昂证券的一名股票经济人aashishAgarwal说他并不是太担心借款者一下子无法支付利息。
Aashish Agarwal of CLSA, a broker, says he is not too worried about borrowers suddenly being unable to afford interest payments.
里昂证券的一名股票经济人aashishAgarwal说他并不是太担心借款者一下子无法支付利息。
Aashish Agarwal of CLSA, a broker, says he is not too worried about borrowers suddenly being unable to afford interest payments.
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