除此之外，聯邦政府還有7，870億美元的刺激計劃以及不斷擴大的預算赤字。全球主要央行和政府都在采取著類似舉措。

北美信托銀行有限公司經濟研究主管保羅·卡斯里爾表示，“美聯儲在確保經濟持續復蘇時可能會出現錯誤，這通常意味著他們在遏制通貨膨脹方面的行動可能會遲緩。”他補充說，“政治輿論將會傾向于刺激通脹和防止通縮。”

利納馬建議投資者考慮那些能夠生存下來的公司。這意味著尋找那些成本結構較低、資產負債能力強勁的公司，即便需求短期難以復蘇，它們仍然會生存下來。他說紐科鋼鐵公司就是這樣一個例子。

已經有跡象顯示市場并不是那么擔憂通貨緊縮。這點在美國財政部通貨膨脹保值債券的(TIPS)市場上表現最為明顯。今年二月，5年期通貨膨脹保值債券的走勢顯示，市場預計美國消費者價格會下跌0.5%，但目前的走勢已經逆轉，市場認為消費者價格會上升大約1.35%。

先鋒抗通脹債券基金的聯席經理霍爾耶說，“通貨膨脹保值債券走勢所預計的通貨膨脹率幅度或許不大，但方向說明了一切。”

他說，“財政和貨幣刺激舉措正促使投資者相信美聯儲很可能會取得成功，通貨膨脹也很有可能上升。”

核心單詞

rebound [ri5baund] v. 重新振作；回升

surge [sE：dV] n. 激增

infrastructure [5infrE5strQktFE] n. 基礎設施；基本建設

promptly [5prRmptli] adv. 敏捷地；迅速地

magnitude [5mA^nitju：d] n. 量；大小；強度

財經知識一點通

基金（Fund）

從廣義上講，基金是機構投資者的統稱，包括信托投資基金、單位信托基金、公積金、保險基金、退休基金以及各種基金會的基金。在現有證券市場上的基金，包括封閉式基金和開放式基金，具有收益性功能和增值潛能的特點。從會計角度透析，基金是一個狹義的概念，意指具有特定目的和用途的資金。因為政府和事業單位的出資者不要求投資回報和投資收回，但要求按法律規定或出資者的意愿把資金用在指定的用途上，從而形成了基金。

期權（Option）

它是在期貨的基礎上產生的一種金融工具。從其本質上講，期權實質上是將在金融領域中的權利和義務分開進行定價，使得權利的受讓人在規定時間內對于是否進行交易而行使其權利，而義務方則必須履行。在期權的交易中，購買期權的和約方稱作買方，而出售和約的一方則叫做賣方。期權分為看漲期權和看跌期權。

翻譯行不行

They are focused on raw materials and commodity-related stocks that would benefit from the surge in infrastructure spending.

But the Federal Reserve has taken dramatic steps to revive the economy and stabilize the financial system.

Already there are signs that the market is less worried about deflation.

第一章 Buying on the Installment Plan

分期付款購物

In Western countries people have been using the installment plan since the first half of the twentieth century. Today，a large proportion of all the families in Great Britain buy furniture，household goods and cars by installment. In the U.S.A.，the proportion is much higher than in Great Britain，and people there spend over 10 percent of their income on the installment plan.

The goods bought on the installment plan are，in almost every case，goods that will last—radios，television sets，washing machines，refrigerators，motorcars，motorcycles，and furniture.

The price of an article bought in this way is always higher than the price that would be paid by cash. There is a charge for interest. The buyer pays a proportion，perhaps one - quarter or one - third，of the price as a down payment when the goods are delivered to him. He then makes regular payments，weekly or monthly，until the full price is paid up. The legal ownership of the goods remains with the seller until the final payment has been made.

Installment buying has advantages and disadvantages. In the past，it was easy to find couples who had been saving for years in order to furnish their homes. Now，they don’t have to do that. Installment buying can help couples with small incomes to furnish their homes and start housekeeping. It increases the demand for goods，and in this way helps business and employment.

There is，however，the danger that when business is bad，installment buying may end suddenly，making business much worse. This may result in a great increase in unemployment. If the people on the installment plan lost their jobs，they would probably not be able to make their payments. If great numbers of people are not able to pay their installment debts，there is a possibility that businessmen cannot collect their debts and will therefore lose money. If businessmen lose money or fail to make a satisfactory profit，the possibilities of having a depression are increased. This is why，in some countries，the government controls the installment plan by fixing the proportion of the down payment and the succeeding installments to discourage people from buying more than they can pay for on the installment plan.

在西方國家，人們從二十世紀上半葉以來就一直用分期付款的方式購物。今天，絕大部分的英國家庭用分期付款的方式購買家具、家用電器和汽車。在美國，通過分期付款購物的比例高于英國。美國人將其百分之十以上的收入用于分期付款購物。

采用分期付款方式購買的商品，幾乎都是耐用品，比如收音機、電視機、洗衣機、冰箱、汽車、摩托車和家具。

用這種辦法購買的物品，其價格要比用現金購買的價格要高，因為要加收利息費。購買者在拿到貨物之前需支付一定比例的貨款——四分之一或三分之一作為定金，以后按期付款，如按周或按月付款，直到付清全部貨款。在付清全部貨款前，貨物的所有權歸銷售商。

分期付款購物有利有弊。過去，人們經常看到一對夫婦為了購買家具布置房間，需要儲蓄好多年。現在，他們不用這樣了。分期付款購物可以幫助收入較低的家庭購買家具布置房間，維持家計。這么做的結果就是増加了商品需求，并且有助于企業發展和提高就業水平。

然而，當企業不景氣時，也會伴隨有風險出現：分期付款購物會突然中斷，使企業難以為繼。這可能導致失業率大幅上升。如果購物者失業，也就失去了支付貨款的能力。如果有許多購物者無力償付貨款，就可能出現商家收不回債務，導致虧損的情況發生。如果商家虧損或賺不到可觀的利潤時，市面就會更加蕭條。這也就是為什么在一些國家，政府會通過規定首付款與以后各期付款的比例來控制分期付款，并勸導人們在分期付款購物時不要超出自己的支付能力。

核心單詞

installment [in5stC：lmEnt] n. 分期付款；分期交付

furniture [5fE：nitFE] n.設施，設備

interest [5intrist] n. 利息

profit [5prCfit] n. 利潤，盈利；收益

財經知識一點通

分期付款（Pay by Installments）

大多用在一些生產周期長、成本費用高的產品交易上。如成套設備、大型交通工具、重型機械設備等產品的出口。分期付款的做法是在進出口合同簽訂后，進口人先交付一小部分貨款作為訂金給出口人，其余大部分貨款在產品部分或全部生產完畢裝船付運后，或在貨到安裝、試車、投入以及質量保證期滿時分期償付。

債券(Bonds)

是政府、金融機構、工商企業等機構直接向社會借債籌措資金時，向投資者發行，承諾按一定利率支付利息并按約定條件償還本金的債權債務憑證。債券的本質是債權的證明書，具有法律效力。

翻譯行不行

A large proportion of all the families in Great Britain buy furniture，household goods and cars by installment.

He then makes regular payments，weekly or monthly，until the full price is paid up.

If the people on the installment plan lost their jobs，they would probably not be able to make their payments.