I could consume all of my income-- if I borrow against my future income, I could-- there's a problem here of starvation.
我可以选择花掉所有的收入,如果我用未来的收入作担保借钱...,不过我们还得考虑吃饭问题
and start getting income of my own, instead of having to live off my parents' money.
自己赚钱而不是依靠父母的支持。
If I consume less than my income today, I'm saving and my consumption would be lower this year.
如果我花的比赚的少,我在储蓄,今年的消费就会较少
So for each person, there is a point representing my income today and my income next period.
所以每个人,在这图上都有一个点表示目前收入和,下一个时间段的收入
No, if I'm saving this year my consumption would be less than my income, so my consumption might be here and I would then have more next year.
错了,如果我今年增加储蓄,我的消费就会少于收入,这里表示消费,明年我就会有更多的收入
I would take my income this year, invest it at the interest rate, and it would turn into Y today times and then I get income next year; so I could consume all that.
可以将今年收入,以利率水平投资,Y天后这份收入就会变成1+R倍,在获得明年的收入后,这些可以一起花掉
And if they didn't need to pay me, then I wouldn't have any income to put food on the table for my wife and children.
如果他们不雇我,我就没有任何收入,来养妻活儿
I only started asking this in 1996 when the stock market boom was well under way, but already 69% of my respondents, who were high-income investors, strongly agreed.
996年时我才提出这种疑问,那时股票市场一片欣欣向荣,这些受访者是高收入投资者,但69%的受访者强烈认同这点
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