过度举债

与黑石（Blackstone）和加州公务员退休基金（Calpers）等投资机构的过硬关系，使得这家位于美国西海岸的企业，能利用纽约市数十年难得一见的机遇，当时，纽约市的企业大都因之前的繁荣过度举债。

Strong relationships with investment organizations like Blackstone and Calpers put the west coast-based firm in a position to capitalize on a once-in-a-generation opportunity in a city where the incumbents were largely overleveraged from the prior boom .

更为重要的是少数超大型公司的过度举债。

More important is over-leveraging by a few huge companies .

恢复过去那种过度举债的做法并不是办法。

Resuming past excesses is not an option .

在上次泡沫期间，政府曾鼓励美国消费者过度举债。

During the previous bubble , the US consumer was encouraged to over - borrow .

收购的理由无懈可击：澳大利亚的矿产商普遍过度举债、急需资金。

The logic cannot be faulted : Australian miners are generally over-leveraged and strapped for cash .

当2008年宽松信贷结束时，银行业部门陷入了过度举债和资本金不足的局面。

When the easy credit stopped in 2008 , the banking sector was over-leveraged and under-capitalised .

这一章还强调了无效投资、过度举债以及影子银行体系监管薄弱造成的风险。

It also highlighted risks stemming from wasteful investment , overindebtedness and a weakly regulated shadow-banking system .

一直靠过度举债来刺激增长的一个领域，是美国次级抵押贷款市场。

The one area where growth has been fuelled by excess borrowing has been in US subprime mortgages .

如果意大利和希腊不是过度举债，不是过度僵化，他们就不会落到今天的如斯处境了。

If Italy and Greece had not been so over-indebted and sclerotic , they would not be in such trouble today .

但我们不应认为上述比较全无意义。一个国家的政府如果过度举债，最终必然会付出代价。

The parallel should not be dismissed altogether . A country whose government borrows beyond its capacity must eventually pay the price .

与希腊不同，爱尔兰的危机，并非因为过度举债、逃税漏税或国家统计数据造假所致。

The Irish have been hurt not by the excessive borrowing , tax evasion or false national statistics that troubled the Greeks .

她说，这种情况与当时在韩国发生的情况类似。当时，韩国企业过度举债，最后很多投资都变得入不敷出。

That , she says , is similar to what happened in South Korea , where enterprises borrowed excessively to chase bad investments .

美联储往往在市场繁荣期放任不管，而当资产价格暴跌时极其积极地放松政策，并对过度举债的金融机构伸出援手。

The Fed tended to be hands-off in the upturn but super-active in loosening policy and rescuing overextended financial institutions when asset prices collapsed .

中央银行决心挤出通胀而造成的衰退，与过度举债和净值暴跌造成的衰退大不相同。

A recession caused by the central bank 's determination to squeeze out inflation is quite different from one caused by excessive debt and collapsing net worth .

唯一能够指望的就是生存下去，以便在未来一些年，将过度举债的教训传授给下一代资本家。

It can only hope to survive , so that in future years the lessons of too much leverage and debt are taught to a new generation of capitalists .

最低保证金要求也正在制定中，以缩短经济繁荣期内过度举债的周期&当核心固定收益市场流动性枯竭时，这种过度借债便无法维系下去。

And minimum margin requirements are being developed to reduce the cycle of excessive borrowing in economic booms that cannot be sustained when liquidity dissipates in core fixed-income markets .

换言之，从现金流的角度看，巴西消费者的债务负担是美国消费者的两倍，而后者还被普遍视为在过度举债。

In other words , the Brazilian consumer has twice the debt load from a cash flow perspective than a US consumer who is still widely regarded as being over-leveraged .

我们也认为，过度举债是一个首要原因&过高的杠杆率不仅存在于交易账簿中，也存在于大量积聚的高风险贷款资产中，它们主要与美国住宅市场有关。

We agree that excessive leverage was a primary cause - not just in trading books but in large concentrations of high-risk lending assets , primarily related to US residential property .

诸如“不良资产”“二次探底”和“过度举债”（借款太多以至于无力偿还）等词都被收入该词典最新版本。

Words such as ''toxic assets ' ' , ''double-dip ''and ''overleveraged ' ' ( having borrowed too much money and being unable to pay it back ) have all entered the book .

危机也暴露出欧元区容易受到公私部门过度举债的冲击，这是过剩储蓄流经资本不足的金融机构涌入不良投资所致。

The crisis also revealed the vulnerability of the eurozone to excessive accumulations of private and public sector leverage , caused by floods of surplus savings into bad investments via undercapitalised financial institutions .

但是如果过度举债，就会影响到今后高校的教学科研及维持费用的开支，影响高校的正常发展，不利于高校的可持续发展。

Contracting too large an amount of debts will affect the future expenditure in teaching and scientific research , sustaining expenditure , as well as the normal development or even the sustainable development of colleges and universities .

再次回到我和莱因哈特合著的书：理论和历史均告诉我们，任何一个通过短期借款过度举债的经济体无论是政府、银行业、企业，还是消费者都极易受信心危机的影响。

Again appealing to my work with MS Reinhart , both theory and history tells us that any economy that is excessively leveraged with short-term borrowing be it government , banking , corporate or consumer is highly vulnerable to crises of confidence .

加之当前监管制度难以约束地方政府的过度举债行为，尤其是在近些年宏观经济政策的推动下，经过连续几年的快速扩张我国地方政府债务规模已十分庞大。

Moreover , the present regulatory system can hardly restrict excessive borrowings of local governments . Especially with the impetus of current macroeconomic policy , the debt scale of Chinese local governments has become very huge after the rapid expansion for successive years .

例如，希腊政府面对高福利、低盈余困境，无法通过公共财政盈余来支撑过度的举债消费，希腊等欧盟国家纷纷发生债务危机。

For example , the Greek government faces high welfare and low surplus predicament and cannot support the excessive deficit spending by the public finance surplus , Greece and other EU countries have a debt crisis .

他们估计，2009年底中国公共部门债务占国内生产总值（GDP）的76%；他们担心，由于增长过度依赖通过举债筹集的资本投资，公共部门债务将出现不可阻挡地增长。

They worry that public sector debt , which they estimate at 76 per cent of gross domestic product at the end of 2009 , will increase inexorably because so much growth depends on debt-financed capital investment .

但现在我们知道，那种增长在很大程度上是虚幻的，是建立在美国家庭不可持续的过度消费和美国金融机构不可持续的过度举债基础上的。

But we now know that much of that growth was illusory , based on unsustainable over-consumption by American households and over-leverage by American financial institutions .