<em id="0i93o"></em>
<sub id="0i93o"></sub>
<meter id="0i93o"></meter>
      1. <form id="0i93o"></form>

        官方APP下載:英語學習播客(支持蘋果手機、安卓手機)
        創辦于2003年
        UNSV記不???那就記中文諧音“憂安思?!卑?!
          Slow and Steady Wins the Race!
        UNSV英語學習頻道 - Slow and steady wins the race!
        公眾微信服務號(英語全能特訓)
        英語全能特訓(微信公眾服務號)
        UNSV英語學習頻道淘寶網店
        客服短信:18913948480
        客服郵箱:web@unsv.com
        初級VIP會員
        全站英語學習資料下載。
        ¥98元/12個月

        #176: Stock Crash of 1929

        作者:David Jarmul 發布日期:8-6-2013

        Crowds gather in the Wall Street district of Manhattan in reaction to the heavy losses on the stock market on October 24, 1929, or
        Crowds gather in the Wall Street district of Manhattan in reaction to the heavy losses on the stock market on October 24, 1929, or "Black Thursday"

        Welcome to THE MAKING OF A NATION - American history in VOA Special English.

        The election of Herbert Hoover in nineteen twenty-eight made Americans more hopeful than ever about their future.

        1928年休伯特.胡佛當選總統,讓美國人對他們的未來充滿信心。

        Hoover seemed to have just the right experience to lead the nation to more economic progress. He was an engineer and businessman who had served in the government as commerce secretary. He understood economics and had faith in the future of private business.

        胡佛似乎就是那個能夠領導美國經濟繼續發展的人,他曾經是工程師和商人,他還擔任過商務部長,他懂經濟,而且他對私營經濟的未來充滿信心。

        On a rainy day in March of nineteen twenty-nine, Hoover rode down Pennsylvania Avenue in Washington to become the new president. "I have no fears for the future of our country," he told the cheering crowd. "It is bright with hope."

        在1929年3月的一個陰雨天,胡佛騎馬走過華盛頓賓夕法尼亞大道,正式成為美國總統。他對歡呼的人群說:"我對國家的未來沒有擔憂,我們的未來充滿希望。"

        This week in our series, Faith Lapidus and Bob Doughty tell more about the Republican administration of Herbert Hoover.

        (MUSIC)

        FAITH LAPIDUS: The clearest evidence of the public's faith in the economy is the stock market. And the New York Stock Exchange reacted to the new president with a wild increase in prices. During the months after Hoover's election, prices generally rose like a rocket. Stocks valued at one hundred dollars climbed to two hundred, then three hundred, four hundred. Men and women made huge amounts of money overnight.

        美國民眾對經濟充滿信心明顯表現在股票市場上。美國紐約證券交易所股票全面上揚,以此來迎接新總統的上任。胡佛當選總統后的幾個月里,美國股票價格就像火箭一樣直線上漲,股票價格從一百美元漲到二百美元,再漲到三百美元、四百美元。許多人因此一夜暴富。

        Publications and economic experts advised Americans to buy stocks before prices went even higher. Time and again, people heard how rich they could become if they found and bought stocks for companies growing into industrial giants.

        媒體和經濟專家們不斷建議人們在股票價格再次飛漲前趕緊買進。人們不知道多少次聽到,有人買到了持續增長的美國公司股票而致富。

        "Never sell the United States short," said one publication. Another just said, "Everybody ought to be rich."

        有一家媒體這樣說:"永遠不要低估美國。"另一家媒體說:"任何人都會發財。"

        BOB DOUGHTY: A number of economic experts worried about the sharp increase in stock prices that followed Hoover's election. The president himself urged stock market officials to make trading more honest and safe. And he approved a move by the Federal Reserve Board to increase the interest charged to banks.

        胡佛當選總統后股價的猛漲讓一些經濟專家開始擔憂。胡佛總統也敦促證券交易所官員要確保交易的誠信和安全,并同時批準美國聯邦證券委員會提高銀行間的拆借利率。

        However, both efforts failed to stop the growing number of Americans who were spending their money wildly on stocks.

        然而,這兩項措施都沒能阻止人們將大量資金投向股市。

        Some experts pointed to danger signs in the economy during the summer of nineteen twenty-nine. The number of houses being built was dropping. Industries were reducing the amount of products that they held in their factories. The rate of growth in spending by average Americans was falling sharply. And industrial production, employment, and prices were down.

        一些專家從1929年夏天的經濟數據中看到了危險的苗頭。房地產建設項目下降,工業企業產量下降,美國人平均消費支出急劇下降,而且工業品、就業以及物價都開始下降。

        These experts warned that the American economy was just not strong enough to support such rapid growth in stock prices. They said there was no real value behind many of the high prices. They said a stock price could not increase four times while a company's sales stayed the same. They said the high prices were built on foolish dreams of wealth, not real value.

        這些專家警告說,美國現有經濟實力無法支撐當前不斷上漲的股價。他們說,在一家公司的銷售維持不變的情況下,其股票不可能上漲四倍,所以高股價并不能真正反映公司的價值,而是建立在人們對財富愚蠢的夢想基礎上的。這并不是真實的。

        FAITH LAPIDUS: But the prices went still higher. Buyers fought with each other to pay more and more for company stocks. The average price of all stocks almost doubled in just one year.

        但是股票價格仍在上漲,股民繼續搶購股票。一年中,幾乎所有的股票價格都上漲了一倍。

        It seemed everybody was buying stocks, even people with little money or economic training.

        在美國,幾乎所有的人都在買股票,哪怕是沒什么錢的人或者沒有什么經濟常識的人,也在買股票。

        A clothing salesman got advice from a stock trader visiting his store and made two hundred thousand dollars. A nurse learned of a good company from someone in the hospital. She made thirty thousand dollars. There were thousands of such stories.

        某個服裝售貨員從一個到他店里買衣服的證券經紀人那得到建議,賺了20萬美元。一個護士在醫院聽某人說有家好公司,于是她也賺了3萬美元。類似的故事有千千萬萬。

        By early September, the stock market reached its high point of the past eighteen months. Shares of the Westinghouse company had climbed from ninety-one dollars to three hundred thirteen. The Anaconda Copper company had risen from fifty-four dollars to one hundred sixty-two. Union Carbide jumped from one hundred forty-five to four hundred thirteen.

        到1929年9月初,美國股票市場的指數達到了過去十八個月的最高點。西屋公司的股票價格從91美元上漲到313美元;阿納康達銅業公司的股票價格從54 美元上漲到136美元,聯合碳化物公司的股票價格從145美元上漲到413美元。

        Life was like a dream. But like any dream, it could not last forever.

        生活就像夢一樣,但是,夢都是不可能永久的。

        (MUSIC)

        BOB DOUGHTY: In September, nineteen twenty-nine, stock prices stopped rising.

        During the next month and a half, stock prices fell, but only slowly. Then suddenly, at the end of October, the market crashed. Prices dropped wildly. Leading stocks fell five, ten, twenty dollars in a single day.

        而在1929年9月,美國股市不再上漲,在此后的一個半月中,股市開始下跌,但仍是緩慢地下跌。然而,到10月底,突然有一天,美國股市崩盤了,股票價格急劇下跌,跌幅最大的一些股票一天下跌了5、10、20美元。

        Everyone tried to sell their stocks. But no one was buying. Fear washed across the stock market. People were losing money even faster than they had made it.

        所有人都想拋售,可是沒人買??謶智榫w席卷股市,人們損失的速度遠遠超過他們賺錢的速度。

        FAITH LAPIDUS: The stock market collapsed on Thursday, October twenty-fourth, nineteen twenty-nine. People remember the day as "Black Thursday," the day the dreams ended.

        到1929年10月24日星期四這一天,美國股市徹底崩潰,人們將這一天稱為"黑色星期四",這一天意味著美國人的股票夢破滅了。

        The day began with a wave of selling. People from across the country sent messages to their stock traders in New York. All the messages said the same thing: Sell! Sell the stocks at any price possible! But no one was buying. And so down the prices came.

        這一天是從拋售潮開始的。全國各地的人都向紐約的股票經紀人發出同樣的指令:賣!不管什么價格,都要賣。但是沒有買家,所以價格急劇下跌。

        The value of stock for the Montgomery Ward store dropped from eighty-three dollars to fifty in a single day. The RCA radio corporation fell from sixty-eight dollars to forty-four - down twenty-four dollars in just a few hours. Down the stocks fell, lower and lower.

        蒙哥馬利沃德店的股票價格在一天中就從83美元下跌到50美元,美國無線電廣播公司的股票價格在短短幾個小時內就從68美元下跌到44美元。股票價格越跌越低。

        Several of the country's leading bankers met to discuss ways to stop the disaster. They agreed to buy stocks in large amounts to stop the wave of selling. The bankers moved quickly. And for two days, prices held steady.

        美國幾位大銀行家在一起開會,討論如何阻止股票狂拋潮,以免形成災難性后果。他們一致同意大量購買股票,以阻止股票再次拋售。這些銀行家行動迅速,在兩天之內,穩定了股價。

        But then, like snow falling down the side of a mountain, the stocks dropped again. Prices went to amazingly low levels. One business newspaper said simply: "The present week has witnessed the greatest stock market disaster of all time."

        但隨后,就像雪崩一樣,股票價格再次狂跌。一家商報說:"最近這一周證明了股票市場迎來了有史以來的大劫難。"

        (MUSIC)

        BOB DOUGHTY: The stock market crash ruined thousands of Americans. In a few short weeks, traders lost thirty billion dollars, an amount almost as great as all the money the United States had spent in World War One.

        美國股市暴跌,摧毀了無數美國人的生活。在短短幾周里,交易者損失了300億美元,相當于美國參加一戰的總支出。

        Some businessmen could not accept what had happened. They jumped from the tops of buildings and killed themselves. In fact, one popular joke of the time said that hotel owners had to ask people if they wanted rooms for sleeping or jumping.

        有些商人無法接受現實,跳樓自殺。當時廣為人知的一則笑話就反映了這個情況。說的是賓館老板面對來賓館的人,不得不問一句,你們來是想住宿呢還是想跳樓?

        But the stock market crash was nothing to laugh about. It destroyed much of the money that Americans had saved. Even worse, it caused millions of people to worry and lose faith in the economy. They were not sure what to expect tomorrow. Business owners would not spend money for new factories or business operations. Instead, they decided to wait and see what would happen.

        然而,股票市場的崩潰使得人們根本無法體會幽默,它摧毀了美國人大部分的積蓄。更為糟糕的是,股市崩潰讓美國人開始對經濟感到擔憂,并失去信心,對明天充滿懷疑。商人們不再投資建廠或新增營業,他們要等等,看下一步會發生什么。

        This reduced production and caused more workers to lose their jobs. Fewer workers meant fewer people with money to buy goods. And fewer people buying goods meant less need for factories to produce. So it went. In short, economic disaster.

        如此一來產量減少,使更多人失業。越來越少的工人就業,也就意味著越來越少的人有錢去購買商品;而越來越少的人去購買商品,也就意味著人們對產品的需求下降,如此一來,在很短時間內,美國經濟的災難來臨了。

        FAITH LAPIDUS: Why did the stock market crash? One reason, people had been paying too much for stocks. Everyone believed that prices would go higher and higher forever. People paid more for stocks than the stocks were worth. They hoped to sell the stocks at even higher prices.

        為什么股票市場會崩盤呢?一個原因就是人們把太多的錢投入了股市。每個人都認為股票價格會一直漲,人們購買股票所支付的錢遠遠超過股票自身的價值,而人們希望股票繼續上漲,好讓他們以更高的價格將股票賣出去。

        It was like a children's balloon that expands with air, blowing bigger and bigger until it bursts.

        這就像孩子們玩的氣球一樣,越吹越大,最終爆炸。

        But there were other important reasons. Industrial profits were too high and wages too low. Five percent of the population owned one-third of all personal income. The average worker simply did not have enough money to buy enough of all the new goods that factories were producing. Another problem was that companies were not investing enough money in new factories and supplies.

        但股市崩盤,還有另一些重要的原因。一個是工業利潤太高而工人工資太低。5%的人擁有美國三分之一的國民收入。工人沒有足夠的錢去購買工廠生產的新商品。另一個原因是一些公司沒有投資足夠的錢,興建新廠,添置設備。

        There were also problems with the rules of the stock market itself. People were allowed to buy stocks when they did not have the money to do so.

        還有一個原因是證券市場自身監管方面的問題,它讓那些沒有多少錢的人也能到股票市場買賣股票。

        BOB DOUGHTY: Several government economic policies also helped cause the stock market crash of nineteen twenty-nine. Government tax policies made the rich richer and the poor poorer. And the government did little to control the national money supply, even when the economy faced disaster.

        另外,幾項政府政策也促使了1929年美國股市的崩盤。政府的稅收政策使富人越富而窮人越窮,政府對貨幣供應缺乏有效控制,當美國經濟面臨災難性危機時也是如此。

        The stock market crash marked the beginning of the Great Depression -- a long, slow, painful fall to the worst economic crisis in American history. The Depression would bring suffering to millions of people. It would cause major political changes. And it would be a major force in creating the conditions that led to World War Two.

        美國股市的崩潰標志著美國經濟大蕭條的開始。美國經濟大蕭條是美國有史以來最漫長、最痛苦,損失最為慘重的經濟危機。這次大蕭條使數百萬美國人遭受其難,而且也改變了美國的政治走向,它還將成為改變世界局勢的重要力量,并最終引發第二次世界大戰。

        We will look at the beginning of the Great Depression in our next program.

        (MUSIC)

        JIM TEDDER: Our program was written by David Jarmul. The narrators were Faith Lapidus and Bob Doughty. You can find our series online with transcripts, MP3s, podcasts and pictures at www.squishedblueberries.com. You can also follow us on Facebook and Twitter at VOA Learning English. Join us again next week for THE MAKING OF A NATION -- an American history series in VOA Special English.

        ___

        This is program #176

        版權所有©2003-2019 南京通享科技有限公司,保留所有權利。未經書面許可,嚴禁轉載本站內容,違者追究法律責任。 互聯網經營ICP證:蘇B2-20120186
        網站備案:蘇公網安備 32010202011039號蘇ICP備05000269號-1中國工業和信息化部網站備案查詢
        廣播臺
        又粗又大又黄又爽的免费视频