这时， 投机者的账面财富（paper wealth） 达到最大： ) ( )) ( , ), ( ), ( ), ( ; ( ) ( ) ( 1 0 2 1 1 1 ω β + ω α ω α ω α ω α ω ω α ≡ ω − − − −...
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但是在账面财富迅速增长的背后却是快速膨胀的房贷，日渐枯竭的储蓄账户和日益迫近的利率风险。
But behind rapidly rising paper wealth is the bloated mortgages, depleted saving accounts, and the interest rate risks.
如果股市下跌一半，中国家庭会损失相当于GDP 20%的账面财富，与美国股市下跌15%对经济造成的影响差不多。
If the stock market drops by half, households lose 20 per cent of GDP in paper wealth, similar to the impact of a 15 per cent drop of the us market on its economy.
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