【2017年整理】大学与体验英语视听说2.docVIP

大学体验英语视听说2 Supplementary reading Unit 3 Recession and Jobs: surviving the recession The New Depression Many economic observers have justifiably(有理由的In December of 2008 , the National Bureau of Economic Research — the Department responsible for categorizing our economic condition — finally acknowledged what most Americans had know for some time : that the U.S. is officially in a deep and painful recession. If should be noted that no matter how bad things get NBER refuses to use the “depression.” As the Treasury and Federal Reserve began pouring hundreds of dollars into the financial market in the final quarter of 2008, there were many who worried that these actions would result in inflation() — prices rising as the purchasing power of each dollar falls. As the some time, analysts worried that during and after the holiday shopping season deflation would plunge the U.S. economy deeper into turmoil as more and more consumers put off purchases waiting for even cheaper prices or perhaps better economic time. Their fears were met when the 2008 holiday season went on record as being the weakest shopping season in decades. Other sign of economic despair — manufacturing at its lowest level in 26 year , 120,000 jobs being shed a month, the volatility() on wall Street, home prices plummeting() — suggest that the bottom may be a long way off. When prices drop across the board companies are forced to lay off workers. Lay offs lead to decreases in disposable() income, which in turn lead to decreased consumption. In order to bring in customers companies must drop prices further , thus setting off another cycle. If this spirals() out of control we see massive joblessness, falling personal income, and prices so low companies cannot afford to produce or sell goods. The U.S. now seems primed() for an economic bust() far beyond what is normally associated with natural economic principles. The only real comparison between our current state and any other historical perspective is the D