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The risks of funding states via casinos
当政府融资渠道形同赌场,要注意哪些风险?

It is easy to imagine conditions in which money simply dries up, perhaps in response to large movements in bond yields
沃尔夫:考虑到manbetx app苹果 金融危机后所发生的变化,不难想象资金迅速枯竭的情景,原因或许是债券收益率大幅波动,也或许是其他冲击。

Invest long, borrow short and leverage up as much as possible. That is the way to make money in finance. It is how banks have always made their living. But we also know very well that this story can end in panic-stricken runs for the exit and financial crises. That is what happened in the great financial crisis (GFC) of 2007-09. Since then, as the Bank for International Settlements explains in its latest Annual Economic Report, the financial system has changed a great deal. But this central characteristic has not.

长线投资、借短债、尽量加杠杆。这是金融业的赚钱之道。银行一直以来都靠这种方式谋生。但我们十分清楚,故事也可能以资金恐慌性出逃和金融危机收场。2007-09年的manbetx app苹果 金融危机中就发生了这样的景象。自那以来,就如国际清算银行(Bank for International Settlements)在其最新《年度manbetx20客户端下载 报告》中所阐述的,金融体系发生了巨大变化。但是这个核心特色并没有改变。

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