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看不大懂，哪位给翻译一下

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This article proposes that  loose monetary policy at this time will benefit the economy rather than arouse inflation.The suggestion is based on the following reasons:
First, in a gloomy economy, people need more money balances, which results in less money in circulation. To meet the demand for natural economic growth, more money should be printed. And the Great Moderation showed that real growth averaged at 3%, which could be regarded as the baseline to make monetary policy decision. Nominal GDP fell faster in the last several decades,  giving an indication that monetary policy may be too tight.
Second, nominal debts are rising. People are more conservative and pessimistic about the economy. Loose monetary policy will increase nominal spending, and part of the added spending will increase economic activity.
I think the author made too much emphasis on the benefit of the monetary policy. Obviously, it is to support the coming QE3. Although the past QE1 and QE2 exactly boost the stock market with an acceptable inflation rate, the unemployment rate soared, which is a sign of unhealthy economy, resulting in the prejudice that the loose monetary policy actually covered up the decline in real economy, giving us a fake prosperous illusion.
Of course, theoretically, now the monetary policy may at least keep the commodity price above a certain level and increase masses' confidence, hence increasing their investment and consumption and reducing their reserved balance. Besides, the relatively depreciated money will make payback of debts much easier, with the absolute amount unchanged. It may relieve some burdens on the borrowers.
In this sense, I think the loose monetary policy is one choice sounds feasible when there are no other better ways to solve the economic problem.

这是为米国继续不顾全球压力尤其是中国压力实施更宽松的货币政策造势。。。看样子米国很快就会退出QE3咯。

on the other hand, i do think the tightness of the US monetary policy benefits china a lot. as we know, china has a high ratio of input/output,which means we put more than others into the machine to get the same thing, while the QE policy will push commodities higher and higher through printing piles of dollor, so now it is an opportunity we shall seize---a big time to do a big thing, now or never!

on the other hand, i do think the tightness of the US monetary policy benefits china a lot. as we know, china has a high ratio of input/output,which means we put more than others into the machine to get the same thing, while the QE policy will push commodities higher and higher through printing piles of dollor, so now it is an opportunity we shall seize---a big time to do a big thing, now or never!

YES it is ture we are all in the US dollar sysytem , but every country is trying to solving their own problem intheir country . the best way for american goverment to solve the current problem is the "easy-money"policy . but for china to against the inflaction of US dollar , what should we do to show that we are working hard to export lager quantity of commdities to all of the world , what have we achieved or just we are working ,they are enjoying ,the one left in the domestic market is inflaction only what was caused by the foolish export-depengd economiy? no one can deny that our foreign resever belong to all chinese instead of the goverment, It is their duty to manager it for us.

If the supply rises but demand rises even faster, then the central bank has, perhaps inadvertently, allowed money to tighten.

太晚了 明晚补上吧

whachel1976 发表于 2011-8-22 22:46
103,103
This article proposes that  loose monetary policy at this time will benefit the economy rat ...

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