WHAT are the most dysfunctional parts of the global financial system? China’s banking industry, you might say, with its great wall of bad debts and state-sponsored cronyism. Or the euro zone’s taped-together single currency, which stretches across 19 different countries, each with its own debts and frail financial firms. Both are worrying. But if sheer size is your yardstick, nothing beats America’s housing market.It is the world’s largest asset class, worth $26 trillion, more than America’s stockmarket. The slab of mortgage debt lurking beneath (it )is the planet’s biggest concentration of financial risk. When house prices started tumbling in the summer of 2006, a chain reaction led to a global crisis in 2008-09. A decade on, the presumption is that the mortgage-debt monster has been tamed. In fact, (vast, nationalised, unprofitable and undercapitalised), it remains a menace to the world’s biggest economy.
1.この(it)=なんでしょうか?
2.vast, nationalised, unprofitable and undercapitalisedを文法的に説明 しなさい。
3. The slab of mortgage debt lurking beneath (it )is the planet’s biggest concentration of financial risk. When house prices started tumbling in the summer of 2006, a chain reaction led to a global crisis in 2008-09. A decade on, the presumption is that the mortgage-debt monster has been tamed. In fact, (vast, nationalised, unprofitable and undercapitalised), it remains a menace to the world’s biggest economy.
WHAT are the most dysfunctional parts of the global financial system? China’s banking industry, you might say, with its great wall of bad debts and state-sponsored cronyism. Or the euro zone’s taped-together single currency, which stretches across 19 different countries, each with its own debts and frail financial firms. Both are worrying. But if sheer size is your yardstick, nothing beats America’s housing market.It is the world’s largest asset class, worth $26 trillion, more than America’s stockmarket. The slab of mortgage debt lurking beneath (it )is the planet’s biggest concentration of financial risk. When house prices started tumbling in the summer of 2006, a chain reaction led to a global crisis in 2008-09. A decade on, the presumption is that the mortgage-debt monster has been tamed. In fact, (vast, nationalised, unprofitable and undercapitalised), it remains a menace to the world’s biggest economy.
1.この(it)=なんでしょうか?
2.vast, nationalised, unprofitable and undercapitalisedを文法的に説明 しなさい。
3. The slab of mortgage debt lurking beneath (it )is the planet’s biggest concentration of financial risk. When house prices started tumbling in the summer of 2006, a chain reaction led to a global crisis in 2008-09. A decade on, the presumption is that the mortgage-debt monster has been tamed. In fact, (vast, nationalised, unprofitable and undercapitalised), it remains a menace to the world’s biggest economy.
>>36 WHAT are the most dysfunctional parts of the global financial system? China’s banking industry, you might say, with its great wall of bad debts and state-sponsored cronyism. Or the euro zone’s taped-together single currency, which stretches across 19 different countries, each with its own debts and frail financial firms. Both are worrying. But if sheer size is your yardstick, nothing beats America’s housing market.It is the world’s largest asset class, worth $26 trillion, more than America’s stockmarket. The slab of mortgage debt lurking beneath (it )is the planet’s biggest concentration of financial risk. When house prices started tumbling in the summer of 2006, a chain reaction led to a global crisis in 2008-09. A decade on, the presumption is that the mortgage-debt monster has been tamed. In fact, (vast, nationalised, unprofitable and undercapitalised), it remains a menace to the world’s biggest economy.
1.この(it)=なんでしょう?
2.vast, nationalised, unprofitable and undercapitalisedを文法的に説明 して書き換えなさい。
3. The slab of mortgage debt lurking beneath (it )is the planet’s biggest concentration of financial risk. When house prices started tumbling in the summer of 2006, a chain reaction led to a global crisis in 2008-09. A decade on, the presumption is that the mortgage-debt monster has been tamed. In fact, (vast, nationalised, unprofitable and undercapitalised), it remains a menace to the world’s biggest economy.
WHAT are the most dysfunctional parts of the global financial system? China’s banking industry, you might say, with its great wall of bad debts and state-sponsored cronyism. Or the euro zone’s taped-together single currency, which stretches across 19 different countries, each with its own debts and frail financial firms. Both are worrying. But if sheer size is your yardstick, nothing beats America’s housing market.It is the world’s largest asset class, worth $26 trillion, more than America’s stockmarket. The slab of mortgage debt lurking beneath (it )is the planet’s biggest concentration of financial risk. When house prices started tumbling in the summer of 2006, a chain reaction led to a global crisis in 2008-09. A decade on, the presumption is that the mortgage-debt monster has been tamed. In fact, (vast, nationalised, unprofitable and undercapitalised), it remains a menace to the world’s biggest economy.
1.この(it)=なんでしょう?
2.vast, nationalised, unprofitable and undercapitalisedを文法的に説明 して書き換えなさい。
3. The slab of mortgage debt lurking beneath (it )is the planet’s biggest concentration of financial risk. When house prices started tumbling in the summer of 2006, a chain reaction led to a global crisis in 2008-09. A decade on, the presumption is that the mortgage-debt monster has been tamed. In fact, (vast, nationalised, unprofitable and undercapitalised), it remains a menace to the world’s biggest economy.
WHAT are the most dysfunctional parts of the global financial system? China’s banking industry, you might say, with its great wall of bad debts and state-sponsored cronyism. Or the euro zone’s taped-together single currency, which stretches across 19 different countries, each with its own debts and frail financial firms. Both are worrying. But if sheer size is your yardstick, nothing beats America’s housing market.It is the world’s largest asset class, worth $26 trillion, more than America’s stockmarket. The slab of mortgage debt lurking beneath (it )is the planet’s biggest concentration of financial risk. When house prices started tumbling in the summer of 2006, a chain reaction led to a global crisis in 2008-09. A decade on, the presumption is that the mortgage-debt monster has been tamed. In fact, (vast, nationalised, unprofitable and undercapitalised), it remains a menace to the world’s biggest economy.
1.この(it)=なんでしょう?
2.vast, nationalised, unprofitable and undercapitalisedを文法的に説明 して書き換えなさい。
3. The slab of mortgage debt lurking beneath (it )is the planet’s biggest concentration of financial risk. When house prices started tumbling in the summer of 2006, a chain reaction led to a global crisis in 2008-09. A decade on, the presumption is that the mortgage-debt monster has been tamed. In fact, (vast, nationalised, unprofitable and undercapitalised), it remains a menace to the world’s biggest economy.
WHAT are the most dysfunctional parts of the global financial system? China’s banking industry, you might say, with its great wall of bad debts and state-sponsored cronyism. Or the euro zone’s taped-together single currency, which stretches across 19 different countries, each with its own debts and frail financial firms. Both are worrying. But if sheer size is your yardstick, nothing beats America’s housing market.It is the world’s largest asset class, worth $26 trillion, more than America’s stockmarket. The slab of mortgage debt lurking beneath (it )is the planet’s biggest concentration of financial risk. When house prices started tumbling in the summer of 2006, a chain reaction led to a global crisis in 2008-09. A decade on, the presumption is that the mortgage-debt monster has been tamed. In fact, (vast, nationalised, unprofitable and undercapitalised), it remains a menace to the world’s biggest economy.
1.この(it)=なんでしょう?
2.vast, nationalised, unprofitable and undercapitalisedを文法的に説明 して書き換えなさい。
3. The slab of mortgage debt lurking beneath (it )is the planet’s biggest concentration of financial risk. When house prices started tumbling in the summer of 2006, a chain reaction led to a global crisis in 2008-09. A decade on, the presumption is that the mortgage-debt monster has been tamed. In fact, (vast, nationalised, unprofitable and undercapitalised), it remains a menace to the world’s biggest economy.
The slab of mortgage debt lurking beneath (it )is the planet’s biggest concentration of financial risk. When house prices started tumbling in the summer of 2006, a chain reaction led to a global crisis in 2008-09. A decade on, the presumption is that the mortgage-debt monster has been tamed. In fact, (vast, nationalised, unprofitable and undercapitalised), it remains a menace to the world’s biggest economy. 米国の住宅市場の下に隠れている住宅ローン債務は、世界で最も大きな金融リスクの塊だ。 2006年の夏に米国で住宅価格が下落を始めたときには、その連鎖反応が2008ー09年の世界金融危機に至った。 あれから10年が経過し、連邦住宅貸付抵当公社などから構成される住宅金融システムというモンスターは飼い慣らされたと思われている。 だが、このシステムは巨大なうえに国有化されており、利益を生まず自己資本も不十分というのが実情で、世界最大の経済大国にとって、脅威であり続けている。
A decade on, the presumption is that the mortgage-debt monster has been tamed. In fact, (vast, nationalised, unprofitable and undercapitalised), it remains a menace to the world’s biggest economy. 10年経っても、建前としては、怪物級の抵当付負債はコントロールされている。