小美同学这一路下坡的人生虽不长却早已污迹斑斑:通货膨胀,经济衰退,失业率攀升,市场有害投机,债务虚高。
The slide show of P.D., Jr.'s life, to be sure, features some ugly bits--inflation, recession, rising unemployment, harmful speculation, ballooning debt.
投机热潮被一个巨大的“影子银行系统”助长,在这一系统中银行很大程度上依赖于短期债务。
The speculative binge was abetted by a giant "shadow banking system" in which the Banks relied heavily on short-term debt.
造成这种现象的原因是无法持续的泡沫走向破灭,它们来自泡沫形成期间过分风险取向的投机,以及私营部门的债务杠杆。
They are caused by unsustainable bubbles that go bust, and from excessive risk taking and debt leveraging by the private sector during the bubble.
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