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[阅读小分队] 【Native Speaker每日综合训练—27系列】【27-19】经管

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发表于 2013-11-15 21:34:53 | 显示全部楼层 |阅读模式


Part I: Speaker
Article 1
ESL Podcast 947 – Seeing a Circus Performance
[Rephrase 1]

Transcript:
Slow dialog: 1:17
Explanations: 2:46
Fast dialog: 15:46

Paula: Ta-da! We’re here. This is your big surprise.
Roman: We’re going to the circus?
Paula: You got it in one! It’s going to be great. There’ll be clowns and acrobats, trapeze artists and lion tamers.
Roman: I haven’t been to the circus since I was a kid.
Paula: That’s the point. I thought this would be a nostalgic experience for both of us, and let us feel like kids again.
Roman: I’m not sure...
Paula: Come on! We’ll miss the first act. I think there’ll be jugglers, magicians, and tightrope walkers, too.
Roman: Great.
Paula: Listen! I can hear the ringmaster from here. Let’s go!
Roman: When you said that you had a surprise for me that would make me feel young again, this wasn’t exactly what I envisioned.
Paula: I know. It’s even better, right?
Roman: If you say so.


Source: ESL Podcast
http://www.eslpod.com/website/show_podcast.php?issue_id=14347951

Part II: Speed
Article 2
Shares lead charge as Yellen backs easy Fed policy
[Time 2]
(Reuters) - World shares traded near five-year highs on Friday after a robust defense of monetary stimulus from the woman set to take over at the U.S. Federal Reserve next year, while Japanese stocks headed for their best week in almost four years.

The Nikkei .N225, made cheap for foreign investors by a falling yen, jumped 1.9 percent to bring its gains for the week so far to a heady 7.6 percent, its biggest weekly gain since December 2009.

Wall Street reached record highs on Thursday after the nominee for Fed Chairman, Janet Yellen, called efforts to boost hiring an "imperative" at a confirmation hearing.

In the to and fro of market expectations on when the Fed will begin to rein in its huge program of bond-buying and cheap money, that was read as a signal it would hold off until well into the new year.

"The market is flourishing from a 'Yellen effect', soothing worries about liquidity to bring back foreign inflows," said Kim Hak-gyun, a market analyst at KDB Daewoo Securities.

The momentum was beginning to fade in Europe, however. The region's shares .FTEU3 gave back modest early gains as Britain's FTSE .FTSE turned flat and Germany's DAX .GDAXI and France's CAC 40 .FCHI dipped 0.1 and 0.2 percent.

Both the euro currency and bond markets were also subdued after a busy 10 days which has seen the European Central Bank deliver an earlier-than-expected rate cut and one policymaker talk openly of Fed-style asset purchases.

The euro was off at $1.3452 after getting as high as $1.3497 on Thursday while there was some mild profit taking on German and other euro zone government debt after a week of steady gains.

"Asia, the Nikkei in particular, enjoyed what Yellen said much more than Europe seems to have, said Daiwa Securities economist Grant Lewis.

"Europe has got it's own particular challenges, the growth numbers in France were pretty poor yesterday... there is paradox at the moment that bad news is good news but ultimately markets want stronger growth."
【338】

[Time 3]
ASIA ROCKS

The Fed finally seems to be convincing markets that even if it does taper, an actual increase in interest rates will still be distant. Short-term debt markets rallied hard as investors pushed the predicted timing of a first hike far into the future.

In just the past couple of days Eurodollar futures have rallied so sharply that they now predict the cost of borrowing dollars will stay near zero out to 2016.

That in turn has helped drag down Treasury yields, with rates on two-year notes at just 29 basis points compared to a peak of 54 in early September.

"Yellen still believes the benefits of QE outweigh the costs - a little tidbit that could have been the most important thing she said market-wise," added William O'Donnell, chief U.S. government bond strategist at RBS Securities.

"She did not strike me, or our economics squad, as somebody ready to roll back on QE3 and even another 200,000-plus print in the next nonfarm payroll number may not sway her."

For once the broader decline in U.S. yields hasn't troubled the U.S. dollar too much, in part because rates in Europe have fallen even more amid the talk of more aggressive ECB easing.

It has, however, made steady gains on the yen for three weeks to trade past the 100.00 barrier at 100.30 yen. Against a broader basket of currencies it was a fraction higher at 81.073 .DXY

In commodity markets, Brent crude oil rose for a third straight day on worries about crude supply disruptions in Libya, while gold drew some comfort from the prospect of continued U.S. stimulus as it faced the prospect of a third week in the red.

Brent for December delivery was last up 7 cents at $108.35 a barrel, while U.S. crude added 25 cents to $94.01. Spot gold edged up to $1,283.56 an ounce and away from the week's trough of $1,260.89.
【319】
Source: reuters
http://www.reuters.com/article/2013/11/15/us-markets-global-idUSBRE96S00E20131115

Article 3
Central bank stimulus is here to stay, but what if it fails?
[Time 4]
If anyone still doubted that central bankers all over the world will keep interest rates at rock-bottom levels, those doubts should have been dispelled this week. Janet Yellen’s statement on Thursday to the U.S. Senate that the Fed has “more work to do” to stimulate employment, and that “supporting the recovery today is the surest path to returning to a more normal approach to monetary policy,” capped a series of surprisingly clear commitments to easy money from central bankers this week. On Wednesday Joerg Asmussen, a member of the executive board of the European Central Bank, and Ewald Nowotny, the Austrian central bank governor — both of whom had previously been reported as voting against last week’s surprise ECB rate cut — said that they might in fact support further rate cuts and even negative interest rates, as well as the possibility of breaking the taboo against U.S.-style purchases of government bonds. And Mark Carney, the Governor of the Bank of England, reiterated more strongly than ever that any early increase in British interest rates was out of the question, despite the fact that the outlook for the British economy has turned out to be much better than the BoE had expected.

But what if these zero interest rate policies produce disappointing results in the year ahead, as they have in each of the past four years? What if the world economy fails to spring back to life or just plods along with sub-par growth, despite all this stimulus, as has happened in each of the past four years?

With luck, these questions will not need answering because fiscal austerity has acted as a powerful headwind to economic recovery in the U.S., Europe and Britain and these budget consolidation efforts are now being relaxed. The new records on Wall Street and other stock markets suggest growing confidence among investors that monetary stimulus will finally deliver decent levels of growth next year — and this does indeed seem likely. But what if the optimism turns out to be wrong? What if the U.S. and Britain fail to grow by at least 3 percent next year, and what if Europe stays stuck with sub-1 percent growth and mass unemployment? In that case, the monetary and fiscal policy experiments since the Lehman crisis would have to be judged as failures — and that judgment would open the way to much more radical ideas than zero interest rates and QE. Such radical ideas would be of two opposing types.
【411】

[Time 5]
If there is no significant improvement in growth and unemployment by this time next year, many conservative politicians and economists will argue that the post-Lehman stimulus policies were not just ineffective, but directly counter-productive. The whole approach of the past five years should therefore be reversed: politicians and central bankers should admit that they cannot “manage” employment and economic  growth; governments should concentrate on getting their finances in order, stop manipulating interest rates and allow market forces to do their work.

Whatever the theoretical arguments for such reversals — for example, that tougher budgetary policies would boost business confidence, that higher real interest rates would improve credit allocation and purge the economy of inefficient zombie firms — there is no chance in practice that governments in any of the major economies would respond to growth disappointments by doing less instead of doing more. The political risks would simply be too great for any government, regardless of its theoretical leanings, to impose tougher fiscal austerity or higher interest rates in an environment of weak growth and intractable unemployment.

A much more likely reaction to failure of the present stimulus attempts would be bolder experiments with new measures that act directly on consumer demand. The obvious way to do this would be to combine monetary and fiscal policy into a new form of unified stimulus that would put money directly into consumers’ pockets, instead of relying on trickle-down effects from financial markets, where wealthy investors become even richer because the central bank boosts asset prices by buying government bonds.
【255】


[Time 6]
As this column has repeatedly argued, the Fed could have delivered vastly more powerful economic stimulus through its QE program if it had sent out a check of $270 every month directly to each of the 315 million U.S. citizens, instead of transferring the same $85 billion monthly to bond investors, as it has been doing now for over a year.

This kind of monetary “helicopter drop” was what Milton Friedman recommended for economies still facing persistent unemployment after interest rates were reduced to zero and Ben Bernanke strongly advocated “helicopter money” for Japan before he became Fed chairman.

Even a few months of free money distributions to ordinary American households would almost certainly have done more to encourage consumer spending and economic activity than years of conventional bond purchases by the Fed. Helicopter money would therefore have revived the economy more quickly and with much less expansion of the Fed’s balance sheet than conventional QE. So helicopter money would actually have been a more cautious form of monetary stimulus than QE, with less inflationary potential.

Why then was helicopter money never seriously considered, either in the U.S., or in Britain and Japan, where central banks have printed even more new money than the Fed, relative to economic size? Apart from the obvious vested interests of bond investors, bankers and other financial market participants who profit by acting as the conduit for monetary stimulus, the main obstacle to helicopter money is an ideological totem: central bank independence.

Helicopter money is economically equivalent to a tax cut that the government finances by selling bonds to the central bank. Monetary and fiscal policy are blended into a single decision and that means the barriers between central bankers and politicians are removed.

Since most central bankers are passionate about protecting their political independence, any discussion of combining fiscal and monetary decisions is today still taboo. But if current monetary policies fail to deliver an adequate economic recovery by next year, political pressure to break the monetary-fiscal taboo could become overwhelming and central bank independence will be doomed. No wonder central bankers are more committed than ever to economic growth.
【356】
Source: reuters
http://blogs.reuters.com/anatole-kaletsky/2013/11/14/central-bank-stimulus-is-here-to-stay-but-what-if-it-fails/

Part III: Obstacle
Article 4
Fouad Ajami: When the Obama Magic Died
[Time 7]
The current troubles of the Obama presidency can be read back into its beginnings. Rule by personal charisma has met its proper fate. The spell has been broken, and the magician stands exposed. We need no pollsters to tell us of the loss of faith in Mr. Obama's policies—and, more significantly, in the man himself. Charisma is like that. Crowds come together and they project their needs onto an imagined redeemer. The redeemer leaves the crowd to its imagination: For as long as the charismatic moment lasts—a year, an era—the redeemer is above and beyond judgment. He glides through crises, he knits together groups of varied, often clashing, interests. Always there is that magical moment, and its beauty, as a reference point.

Mr. Obama gave voice to this sentiment in a speech on Nov. 6 in Dallas: "Sometimes I worry because everybody had such a fun experience in '08, at least that's how it seemed in retrospect. And, 'yes we can,' and the slogans and the posters, et cetera, sometimes I worry that people forget change in this country has always been hard." It's a pity we can't stay in that moment, says the redeemer: The fault lies in the country itself—everywhere, that is, except in the magician's performance.

Forgive the personal reference, but from the very beginning of Mr. Obama's astonishing rise, I felt that I was witnessing something old and familiar. My advantage owed nothing to any mastery of American political history. I was guided by my immersion in the political history of the Arab world and of a life studying Third World societies.

In 2008, seeing the Obama crowds in Portland, Denver and St. Louis spurred memories of the spectacles that had attended the rise and fall of Arab political pretenders. I had lived through the era of the Egyptian leader Gamal Abdul Nasser. He had emerged from a military cabal to become a demigod, immune to judgment. His followers clung to him even as he led the Arabs to a catastrophic military defeat in the Six Day War of 1967. He issued a kind of apology for his performance. But his reign was never about policies and performance. It was about political magic.

In trying to grapple with, and write about, the Obama phenomenon, I found guidance in a book of breathtaking erudition, "Crowds and Power" (1962) by the Nobel laureate Elias Canetti. Born in Bulgaria in 1905 and educated in Vienna and Britain, Canetti was unmatched in his understanding of the passions, and the delusions, of crowds. The crowd is a "mysterious and universal phenomenon," he writes. It forms where there was nothing before. There comes a moment when "all who belong to the crowd get rid of their difference and feel equal." Density gives the illusion of equality, a blessed moment when "no one is greater or better than another." But the crowd also has a presentiment of its own disintegration, a time when those who belong to the crowd "creep back under their private burdens."

Five years on, we can still recall how the Obama coalition was formed. There were the African-Americans justifiably proud of one of their own. There were upper-class white professionals who were drawn to the candidate's "cool." There were Latinos swayed by the promise of immigration reform. The white working class in the Rust Belt was the last bloc to embrace Mr. Obama—he wasn't one of them, but they put their reservations aside during an economic storm and voted for the redistributive state and its protections. There were no economic or cultural bonds among this coalition. There was the new leader, all things to all people.

A nemesis awaited the promise of this new presidency: Mr. Obama would turn out to be among the most polarizing of American leaders. No, it wasn't his race, as Harry Reid would contend, that stirred up the opposition to him. It was his exalted views of himself, and his mission. The sharp lines were sharp between those who raised his banners and those who objected to his policies.

America holds presidential elections, we know. But Mr. Obama took his victory as a plebiscite on his reading of the American social contract. A president who constantly reminded his critics that he had won at the ballot box was bound to deepen the opposition of his critics.

A leader who set out to remake the health-care system in the country, a sixth of the national economy, on a razor-thin majority with no support whatsoever from the opposition party, misunderstood the nature of democratic politics. An election victory is the beginning of things, not the culmination. With Air Force One and the other prerogatives of office come the need for compromise, and for the disputations of democracy. A president who sought consensus would have never left his agenda on Capitol Hill in the hands of Harry Reid and Nancy Pelosi.

Mr. Obama has shown scant regard for precedent in American history. To him, and to the coterie around him, his presidency was a radical discontinuity in American politics. There is no evidence in the record that Mr. Obama read, with discernment and appreciation, of the ordeal and struggles of his predecessors. At best there was a willful reading of that history. Early on, he was Abraham Lincoln resurrected (the new president, who hailed from Illinois, took the oath of office on the Lincoln Bible). He had been sworn in during an economic crisis, and thus he was FDR restored to the White House. He was stylish with two young children, so the Kennedy precedent was on offer.

In the oddest of twists, Mr. Obama claimed that his foreign policy was in the mold of Dwight Eisenhower's . But Eisenhower knew war and peace, and the foreign world held him in high regard.

During his first campaign, Mr. Obama had paid tribute to Ronald Reagan as a "transformational" president and hinted that he aspired to a presidency of that kind. But the Reagan presidency was about America, and never about Ronald Reagan. Reagan was never a scold or a narcissist. He stood in awe of America, and of its capacity for renewal. There was forgiveness in Reagan, right alongside the belief in the things that mattered about America—free people charting their own path.

If Barack Obama seems like a man alone, with nervous Democrats up for re-election next year running for cover, and away from him, this was the world he made. No advisers of stature can question his policies; the price of access in the Obama court is quiescence before the leader's will. The imperial presidency is in full bloom.

There are no stars in the Obama cabinet today, men and women of independent stature and outlook. It was after a walk on the White House grounds with his chief of staff, Denis McDonough, that Mr. Obama called off the attacks on the Syrian regime that he had threatened. If he had taken that walk with Henry Kissinger or George Shultz, one of those skilled statesmen might have explained to him the consequences of so abject a retreat. But Mr. Obama needs no sage advice, he rules through political handlers.

Valerie Jarrett, the president's most trusted, probably most powerful, aide, once said in admiration that Mr. Obama has been bored his whole life. The implication was that he is above things, a man alone, and anointed. Perhaps this moment—a presidency coming apart, the incompetent social engineering of an entire health-care system—will now claim Mr. Obama's attention.
【1258】

Source:Wall Street Journal
http://online.wsj.com/news/articles/SB10001424052702304243904579196440800552408

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 楼主| 发表于 2013-11-15 21:36:04 | 显示全部楼层
厚颜无耻的扁凳~
speaker
going to circus
feel like a kid again
what does circus have
if you say so: pretending what the other said is true

2.11
2.15

(主页菌,叫你删~)
发表于 2013-11-15 21:42:36 | 显示全部楼层
厚颜无耻的跟着大家~
27-19
Speaker
Acrobats-someone who entertains people by doing difficultphysical actions such as walking on their hands or balancing on a high rope,especially at a circus-tightrope walker
Trapeze-a short bar hanging from two ropes high above theground, used by acrobats
Nostalgic-if you feel nostalgic about a time in the past,you feel happy when you remember it, and in some ways you wish that things hadnot changed
2 338 1min36
The asian and American market are flourishing from YellenEffect. But some European countries like Germany have their own struggles.
3 319 1min13
4 411 2min19
Stimulus-something that helps a process to develop morequickly or more strongly
5 255 1min32
6 356 1min35
Obstacle 1258 6min48
发表于 2013-11-15 21:44:55 | 显示全部楼层
2:06
2:43
2:56
2:30
2:38
Obstacle:
今天的越障也太长了吧。。。第一次尝试失败。。。读不下去= =!睡前再试。。。
发表于 2013-11-15 21:45:39 | 显示全部楼层
首页我又回来啦
--------------------------------------------------------------------------------------------
TIME2:2'32''26
TIME3:2'03''21
TIME4:2'32''19
TIME5:1'21''09
TIME6:2'13''06
啊啊啊啊啊今天状态好差!文章读不进5555改天重读!
OBSATCLE:

=============================================
TIME2:2'24''36
worldwide shares were effected by yellen's monetary policy
however,europe still be poor--->goal:strong growth

TIME3:2'03''01

TIME4:2'52''31
yellen's policy to stimulate economy.the executive of european or austrian central bank hold that they more support rate cuts
exsit problems--solved by fiscal auterity

TIME5:1'45''91
goverment need do more better than do less.theoretical is different form practice
new measures that put money directly into consumer's pockets.

TIME6:2'21''03
what is helicopter money.and its advantages:more cautious form with less inflationary potential
however,why never used?---central bank independence

OBSATCLE:9'31''21
额,依旧不是很清楚,感觉在讽刺obama,说了的又实现不了,中间还拿以前的总统比较吗是?
好像还被孤立了哇?!好吧~~实在无力
发表于 2013-11-15 22:07:20 | 显示全部楼层
有木有童鞋跟我一样觉得今天文章有点儿难~
缺乏金融&选举背景知识
Lap 6      00:08:48.31    00:21:38.40
Lap 5      00:03:01.75    00:12:50.09
Lap 4      00:02:24.92    00:09:48.34
Lap 3      00:03:25.59    00:07:23.42
Lap 2      00:01:53.73    00:03:57.82
Lap 1      00:02:04.09    00:02:04.09
[speed]
1. World shares reached record highs after the chairman of Fed's effect. Asia especially Japan, and Europe enjoy what Y said
2.-Fed hopes to make the markets convincing
-the benefits of QE outweigh its cost
-in commodity markets ,the price of oil&gold show different tendency
3.many conditions will happen if people do not believe European Central 's monetary policy
4.present stimulus will meet lots of problems
5.Montery policy like helicopter money acts as tax, allow the government gain bonding to maintain the interest rate
[obstacle]
T:Obama loses the faith in policy
-Obama gave a good speech to the public by saying the American social ...
-in order to grapple the phenomenon of Obama, FA found guidance in a book
-what attracts the citizens is that Obama is a African-American
-He won the election based on presidential elections, also cares about health system
-today, in the Obama cabinet, there are no stars.



我的打卡贴:http://forum.chasedream.com/thread-880144-1-1.html
欢迎互勉
发表于 2013-11-15 22:13:01 | 显示全部楼层
Time2: 2m29s
The US stocks market was affected by the yellen-effect,and the Asia part especially in japans Nikkei grows too, however in euro zone ,it is pretty poor.


Time3: 2m29s
QE has made steady gains on yen and the brent crude oil rose. 读了好几遍都很吃力,这类型的术语理解不透。

rallied  上涨
Treasury yields 国债
QE  “量化宽松”是一种非常规货币政策,对经济有较大刺激作用,但也存在负面影响。所谓“量化宽松 ”,是指基准利率降至零或近似零水平后,央行通过购买国债等中长期债券,增加基础货币供给,向市场注入大量流动性的经济扩张手段。但经济好转后,如果货币当局不能及时收回巨额流动性,可能埋下资产价格泡沫和通货膨胀的隐患。
DXY 美元指数
美元指数是综合反映美元在国际[url=]外汇市场[/url]的汇率情况的指标,用来衡量美元对一揽子货币的[url=]汇率[/url]变化程度。它通过计算美元和对选定的一揽子货币的综合变化率,来衡量美元的强弱程度,从而间接反映美国的出口竞争能力和进口成本的变动情况。

Time4:2m16s
What if the world economy grow slowly as happened last four years?The question will be answered by the fiscal austerity.
What if the growing confidence turns out to be wrong .the monetary and fiscal policy would be judged failures.


Time5: 1m46s
If the next year growth and employment still no significant improvement,all this politic and central bank act would be counter-act.
New measure that put the money directly to consumer’s pocket would be more effective.     

Time6: 1m45s
The helicopter money is effective to grow up the consumption and then the economic(the effect is kin to tax cut), but the main obstacle is the central banks independence.  

Obstacle: 7m45s
发表于 2013-11-15 22:17:07 | 显示全部楼层
占坑~~~~~~~~~~~
speed
time2 1:57
respone of market as Yellen backs Fed policy
time3 1:52
Yellen believe the benefit QE outweigh the costs
time4 2:04
doubts of keeping interest rates at rock-bottom levels may have trouble
if optimism turn out to be wrong, the policy may fail.
time5 1:44
if economy see no significant improvement, and unemployment will grow next year, the curent policy were not just ineffective,but counter-productive.
time6 2:01
new monetary policy:helicopter drop
why the helicopter money never considered
if the present policies fall, break the monetary-fiscal taboo become overwhelming
发表于 2013-11-15 22:18:11 | 显示全部楼层
Thx, kim.   By SH

Speaker:
going to see a circus performance
1.ta-da: used when u r excited and proud to show another person sth. ; u r introducing sth. to another person, sth. u r excited about or sth. u r presenting them as a gift.
2.circus: a type of live entertainment where u go and watch people (we called performers) and trained animals do certain tricks often things that are dangerous or unusual. It's popular in the children. Circus usually travels across city.
3.to get it in one: to get sth. correctly the firt time (the firt attempt).
4.clown: a person who dresses in a large outfit, a large uniform, which is usually colorful and has a lot of bright colors. They often have big red noises on their face and big shoes that they wear; they also have a big wig, fake hair basically that they wear, that's also very colorful. Clowns are also very popular among children.
5.acrobat: a person who uses their body in an unusual way similiar to a gymnast b. often does things in the air.
6.trapeze artist: a performer who entertains people by flying through the air, usu. jumping from one bar or one rope to another. they do things that may be very dangerous because they could fall, although usu. in a net that is put below them and to catch them so they don't hit the floor if fall.
7.a animal tamer: a person who trains animals to do certain tricks.
8.kid: a young child.
9.nostalgic: being filled with strong emotions or feelings, esp. when thinking about sth. in the past that carved in your memories. when we say sth. is ..., there is also a sense that we want to go back in time, we want to reture to that time when a certain thing was popular or when we experience to a certain positive thing.
10.act: a part of performance.
11.juggler: a person who can keep several objects in the air at the same time, by throwing them up and catching them and throwing them again.
12.magician: a person who uses elusion to make u think sth. is going on even though it really isn't. <politican :p >
13.a tight rope walker: a person who walks on the high wire or a rope that is very high upon the air.
14.tight rope: wire or rope that the person walks on.
15.great->making a joke.
16.ringmaster: the leader of circus, the person who talks to the audience, and who directs the performers to do what they are supposed to do, at least when they are supposed to do it.
17.if u say so: used when u do not believe or agree with what another person is saying b. u r willing to pretend it's true because u don't wanna argue about and fight about.

T2-1'53''
Yellen's monetary stimulus policy has a positive influence on the world shares traded market.
T3-2'03''
The Fed's QE-->$ interest rate in low level.-->ED futures rise-->Ty decline-->the trouble of $-->gains on the yen   extension: the market behavior of Brent crude oil & gold.
T4-2'48''
a policy's commitments and re-questions.
T5-1'43''
the failure, even reversals, stimulus policies may bring and accordingly measures govenment may take.
T6-2'48''
describe the advantages of helicopter money compared with QE to the economy and analyze the obstacle before the implement of this measure.
Obstacel-7'17''
O's charisma misleads the American people and the magic of O is fading away.
发表于 2013-11-15 22:18:24 | 显示全部楼层
谢谢Kim,越障完全没有看懂,值得研究

Shares lead charge as Yellen backseasy Fed policy
Time2: 1'51" World shares traded nearfive-year highs on Friday by "Yellen effect",but the momentum was beginning to fade in Europe
Time3: 1'51" Asia rocks, like in Japan, helping economies inU.S. and Europe

Central bank stimulus is here to stay, but what if itfails?
Time4: 3'02" all over the world willkeep interest rates at rock-bottom levels, and if thisfails, two oppositing type of radical ideas will come out
Time5: 1'36" The one is the wholeapproach of the past five years should therefore be reversed, government and central bank admit that they cannot manageeconomies, allowing market forces to do their work
Time6: 2'18" The another one is helicopter money, basing on theenough political pressures after current monetary policies fail

Fouad Ajami: When the Obama Magic Died
Time7: 8'48"
People started to fell disappointed about Obama's policies
There were no economic or cultural bondsamong Obama's coalition
The author recalled and assessed Obama's presidency and concludedthat there are no stars in the Obama cabinet today, menand women of independent stature and outlook



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