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原创外刊改编语法填空题百日打卡Day 7
Did social media cause the banking panic?
From: Economist
The banking turmoil that has sent a handful of American and European lenders to the wall in recent weeks has a new feature. Use of social media and messaging apps, which spread information at lightning pace to an ever-larger group of panickers, marks a break from past _____1_____(crisis). Meanwhile, new digital-finance tools let nervous depositors withdraw funds as soon as the notion strikes them, whether from offices in San Francisco _____2_____ ski slopes in Saint Moritz.
After the fall of Silicon Valley Bank, the idea of faster bank runs is understandably causing concern among analysts and legislators. Yet the wave of new tech in the past decade and a bit is by no means the first to change behaviour. Previous examples suggest something of a pattern: innovations initially help facilitate a boom, contributing to exuberance based on a sense of futuristic possibility, before speeding up and magnifying the eventual bust. History also suggests that recent technological changes may have a deeper impact, reshaping markets in the long run, too.
From the 1840s onwards, America was blanketed by the electric telegraph, _____3_____ transmitted messages by overhead wires, connecting _____4_____(previous) disparate financial markets in Boston, Chicago, New York and Philadelphia. In 1866 reliable communication became possible between America and Europe as well, thanks to an undersea telegraph cable. Historians credit these new methods of transmitting financial information with smoothing _____5_____ pricing inefficiencies. The gap between American and British cotton prices dropped by _____6_____ third, for example, and volatility also declined. The new form of communication was significant enough to have left a legacy. Among currency traders, the sterling-dollar exchange rate is still known informally as “cable”.
But _____7_____(effiecient) often comes at a cost. In the 19th century, communication by cable was expensive and limited, and the information received at risk of manipulation by those transmitting it. During the panic of 1873, correspondents at The Economist went back and forth about whether the debilitating effects of new technologies, spreading panic from one market to another, _____8_____(outweigh) the positives. A century later, new technology again provoked worries during a market crash in October 1987. The Brady Commission, which later investigated the slump in America, found that electronic communication across borders exacerbated problems.
Innovation has sped up sudden market wobbles, truncating panics that would have taken months in the 19th century to weeks. In the modern era, timelines have contracted further, from weeks to days or even hours. Yet this may turn out to be just one of the ways in which frictionless trading and freely available information, of varying quality, affect finance in years _____9_____(come). The profits banks _____10_____(enjoy) for decades—or centuries—thanks to high transactions costs and low financial literacy might also become harder to sustain.
原创外刊改编语法填空题打卡Day 7
Did social media cause the banking panic?
From: Economist
The banking turmoil that has sent a handful of American and European lenders to the wall in recent weeks has a new feature. Use of social media and messaging apps, which spread information at lightning pace to an ever-larger group of panickers, marks a break from past crises (crisis). Meanwhile, new digital-finance tools let nervous depositors withdraw funds as soon as the notion strikes them, whether from offices in San Francisco or ski slopes in Saint Moritz.
After the fall of Silicon Valley Bank, the idea of faster bank runs is understandably causing concern among analysts and legislators. Yet the wave of new tech in the past decade and a bit is by no means the first to change behaviour. Previous examples suggest something of a pattern: innovations initially help facilitate a boom, contributing to exuberance based on a sense of futuristic possibility, before speeding up and magnifying the eventual bust. History also suggests that recent technological changes may have a deeper impact, reshaping markets in the long run, too.
From the 1840s onwards, America was blanketed by the electric telegraph, which transmitted messages by overhead wires, connecting previously (previous) disparate financial markets in Boston, Chicago, New York and Philadelphia. In 1866 reliable communication became possible between America and Europe as well, thanks to an undersea telegraph cable. Historians credit these new methods of transmitting financial information with smoothing out pricing inefficiencies. The gap between American and British cotton prices dropped by a third, for example, and volatility also declined. The new form of communication was significant enough to have left a legacy. Among currency traders, the sterling-dollar exchange rate is still known informally as “cable”.
But efficiency (effiecient) often comes at a cost. In the 19th century, communication by cable was expensive and limited, and the information received at risk of manipulation by those transmitting it. During the panic of 1873, correspondents at The Economist went back and forth about whether the debilitating effects of new technologies, spreading panic from one market to another, outweighed (outweigh) the positives. A century later, new technology again provoked worries during a market crash in October 1987. The Brady Commission, which later investigated the slump in America, found that electronic communication across borders exacerbated problems.
Innovation has sped up sudden market wobbles, truncating panics that would have taken months in the 19th century to weeks. In the modern era, timelines have contracted further, from weeks to days or even hours. Yet this may turn out to be just one of the ways in which frictionless trading and freely available information, of varying quality, affect finance in years to come (come). The profits banks have enjoyed (enjoy) for decades—or centuries—thanks to high transactions costs and low financial literacy might also become harder to sustain.
社交媒体会引发银行的恐慌?
最近几周让欧美少数贷款机构陷入绝境的银行业动荡有一个新特点。与过往的危机不同,由于有了社交媒体和即时通讯应用,信息以闪电般的速度传播给不断扩大的恐慌人群。与此同时,新的数字金融工具又让神经紧绷的储户在一念之间便可取走存款,无论他们身在旧金山的办公室还是圣莫里茨的滑雪场。
硅谷银行的倒闭引起了分析师和立法者对银行挤兑速度加快的担忧,这是可以理解的。但过去十多年的新技术浪潮绝不是第一次改变人们的行为。之前的例子表现出某种模式:创新最初有助于促进繁荣,催生出憧憬未来无限可能性的泡沫,然后不断加速并放大最终的破灭。历史还表明,近期的技术变革可能会产生更加深刻的影响,在长期重塑市场面貌。
从19世纪40年代起,电报在美国实现全覆盖,通过架空电线传输信息,电报把之前迥然不同的波士顿、芝加哥、纽约和费城等金融市场连接起来。1866年,海底电缆让美国和欧洲之间的可靠通信也成为可能。历史学家将定价低效率的消除归功于这些传递金融信息的新方法。例如,美国和英国棉花价格的差距缩小了三分之一,波动性也有所下降。这种新的交流方式意义重大,足以留下一笔辉煌的篇章。外汇交易员之间仍私下将英镑对美元的汇率称为“电缆”。
但效率往往是有代价的。在19世纪,电缆通信成本高昂且资源有限,接收到的信息有被传输者操纵的风险。在1873年的恐慌期间,《经济学人》的记者们在新技术的衰弱效应(将恐慌从一个市场传播到另一个市场)是否超过了其积极效应这一话题上争论不休。一个世纪后,在1987年10月的一次市场崩盘中,新技术再次引发了担忧。布雷迪委员会后来对美国的经济衰退展开调查,发现跨境电子通讯恶化了问题的发展。
(技术)创新加速了市场的突然波动,将19世纪发展几个月的恐慌瞬间缩短到几周。而现代,时间线进一步缩短,从几周缩短到几天甚至几个小时。然而,这可能只是未来几年内无摩擦交易和可自由获取的质量不一的信息对金融造成影响的某一种体现方式而已。由于高交易成本和低金融素养要求,银行几十年甚至几个世纪以来一直享有的利润可能也会变得难以为继。
生词积累
turmoil
n. 动荡
exuberance
n.丰富,茂盛;健康;感情洋溢(或慷慨激昂)的言行
exacerbate
v.使恶化,使加剧
smooth out
消除;使平滑
slope
n. 斜坡
futuristic
adj. 幻想未来的;想象未来情况的
magnify
v. 放大;夸张
disparate
adj. 迥然不同的;无法比较的
legacy
n. 遗产;遗赠财物
debilitate
v.(使身心)衰弱,衰竭,虚弱
truncate
v. 截断,删节;把……截成平面
sustain
v. 维持
原创外刊改编语法填空题打卡Day 8
Mental Health Crisis Among Teens Demands a New Approach
Since the CDC released its survey findings last month showing alarmingly high rates of sadness and suicidal thoughts among adolescent girls and teenagers who identify as gay or bisexual, there ______1_____(be) finger pointing from the political left and right about what has brought about this crisis. Some have argued ______2_____ escalating climate issues have created an existential threat and accompanying anxiety and dread. Others have said today’s more secular, permissive culture has uprooted and confused our most vulnerable young people. But neither side seems to grasp the real urgency of the issue.
According to the CDC’s findings, more than one in five of the 17,000 high school students surveyed reported attempting suicide. Their rates of sadness and hopelessness are the highest in a decade, reflecting an escalating trend ______3_____(make) worse by the isolation and stress of the pandemic.
The severity of the issue has been confirmed by pediatricians across the country who have seen a spike in patients reporting high levels of anxiety and depression, and ______4_____ hospitals that have seen a dramatic rise in admissions for suicidal adolescents. New York Times reporting includes stunning statistics from the Long Island Jewish Medical Center in New Hyde Park, where there were 8,000 emergency room visits by suicidal adolescents in 2022. By contrast, there were 3,000 in 2010 ______5_____ 250 in 1982.
It's time to stop the finger-pointing and focus our collective attention on this generation of struggling teenagers. That means putting aside our differences and approaching this issue like it’s the life-and-death matter it is.
As a start, we must, as a society, evolve our thinking on how to respond to mental health challenges. Instead of ______6_____(mere) reacting when young people indicate the extent of their hopelessness, we need to take more proactive measures. For example, rather than waiting for teenagers to admit they’re having violent fantasies or engaging in suicidal ideation – ______7_____, of course, represent major warning signs – we must engage with them when we see early red flags: dramatic behavioral changes, sharp declines in grades, a greater tendency to isolate, etc. We shouldn’t assume such challenges represent mere teenage angst.
Parents and other caregivers, as well as teachers and others who have direct contact and ______8_____(expose), must all embrace this preventive approach. Crucially, they must not be afraid to ask direct questions about suicidal thoughts or intentions, resisting the false notion that raising the issue of suicide creates a risk that wasn’t there previously. It’s also particularly important for parents to understand the help that is available to their children. For instance, psychiatrists, psychologists, social workers, and other mental health ______9_____(professional) can provide clinical care; case managers help access wrap-around services; and mental health attorneys guide families through the complex legal framework of our mental health system and, in some cases, conduct carefully staged, clinically and legally sound interventions. Hospitalization might also be appropriate when the person in question poses an immediate danger to themself or others.
At the macro level, our country can do so much more to help individuals struggling with mental health challenges and their families. For example, we can demand parity, meaning insurance coverage for behavioral health issues that is no less generous than coverage for physical ailments, thus _____10_____(less) the financial burden associated with therapy and other forms of treatment. We can also press our representatives for funding for crucial community-based behavioral health programs and exploration of how to expand the pipeline of individuals seeking careers in the mental health field.
It is time that those who have the power to amplify their voice and drive change focus on helping teenagers and families access the help they need, and work toward changing our systems to reduce the burden on these individuals. Put the politics aside. There are lives in the balance.
Mental Health Crisis Among Teens Demands a New Approach
Since the CDC released its survey findings last month showing alarmingly high rates of sadness and suicidal thoughts among adolescent girls and teenagers who identify as gay or bisexual, there has been (be) finger pointing from the political left and right about what has brought about this crisis. Some have argued that escalating climate issues have created an existential threat and accompanying anxiety and dread. Others have said today’s more secular, permissive culture has uprooted and confused our most vulnerable young people. But neither side seems to grasp the real urgency of the issue.
According to the CDC’s findings, more than one in five of the 17,000 high school students surveyed reported attempting suicide. Their rates of sadness and hopelessness are the highest in a decade, reflecting an escalating trend made (make) worse by the isolation and stress of the pandemic.
The severity of the issue has been confirmed by pediatricians across the country who have seen a spike in patients reporting high levels of anxiety and depression, and by hospitals that have seen a dramatic rise in admissions for suicidal adolescents. New York Times reporting includes stunning statistics from the Long Island Jewish Medical Center in New Hyde Park, where there were 8,000 emergency room visits by suicidal adolescents in 2022. By contrast, there were 3,000 in 2010 and 250 in 1982.
It's time to stop the finger-pointing and focus our collective attention on this generation of struggling teenagers. That means putting aside our differences and approaching this issue like it’s the life-and-death matter it is.
As a start, we must, as a society, evolve our thinking on how to respond to mental health challenges. Instead of merely (mere) reacting when young people indicate the extent of their hopelessness, we need to take more proactive measures. For example, rather than waiting for teenagers to admit they’re having violent fantasies or engaging in suicidal ideation – which, of course, represent major warning signs – we must engage with them when we see early red flags: dramatic behavioral changes, sharp declines in grades, a greater tendency to isolate, etc. We shouldn’t assume such challenges represent mere teenage angst.
Parents and other caregivers, as well as teachers and others who have direct contact and exposure (expose), must all embrace this preventive approach. Crucially, they must not be afraid to ask direct questions about suicidal thoughts or intentions, resisting the false notion that raising the issue of suicide creates a risk that wasn’t there previously. It’s also particularly important for parents to understand the help that is available to their children. For instance, psychiatrists, psychologists, social workers, and other mental health professionals (professional) can provide clinical care; case managers help access wrap-around services; and mental health attorneys guide families through the complex legal framework of our mental health system and, in some cases, conduct carefully staged, clinically and legally sound interventions. Hospitalization might also be appropriate when the person in question poses an immediate danger to themself or others.
At the macro level, our country can do so much more to help individuals struggling with mental health challenges and their families. For example, we can demand parity, meaning insurance coverage for behavioral health issues that is no less generous than coverage for physical ailments, thus lessening (less) the financial burden associated with therapy and other forms of treatment. We can also press our representatives for funding for crucial community-based behavioral health programs and exploration of how to expand the pipeline of individuals seeking careers in the mental health field.
It is time that those who have the power to amplify their voice and drive change focus on helping teenagers and families access the help they need, and work toward changing our systems to reduce the burden on these individuals. Put the politics aside. There are lives in the balance.
解决青少年心理健康危机需要新的方法
美国疾控中心上个月发布的调查结果显示,在同性恋或双性恋的少女和青少年中,拥有悲伤和自杀念头的比例高得惊人。政治上的左右两派都在指责是什么导致了这场危机。一方认为,不断加剧的气候问题已经造成了一种生存威胁,和随之而来的焦虑、恐惧。另一方认为,如今更世俗、更宽容的文化使我们最脆弱的年轻人不熟悉、困惑。但双方似乎都没有意识到问题的真正紧迫性。
根据疾控中心的调查结果,在接受调查的17000名高中生中,超过五分之一的人报告他们曾试图自杀。他们的悲伤和绝望程度,达到了十年来的最高水平,这反映出了疫情带来的隔离和压力使这种不断加剧的趋势变得更糟。
来自全国各地的儿科医生看到了报告高度焦虑和抑郁的患者激增,医院也看到了自杀青少年的入院人数急剧上升,这些都已经证实了这个问题的严重性。《纽约时报》报道了包括来自新海德公园长岛犹太医疗中心的惊人数据,该中心在2022年有8000名有自杀倾向的青少年到急诊室就诊。而2010年是3000人,1982年是250人。
首先,作为一个社会,我们必须改变对如何应对心理健康挑战的思维。当年轻人表现出了他们的绝望程度时,我们不能仅仅做出反应,更需要采取更积极的措施。例如,与其等着青少年自己承认他们有暴力幻想或有自杀的想法——当然,这是主要的警告信号——我们必须在看到早期的危险预兆时,就与他们接触:这些预兆包括剧烈的行为变化,成绩急剧下降,更大的孤立倾向,等等。我们不应该认为这些预兆仅仅代表了青少年的焦虑。
家长和其他照顾者,以及教师和其他与青少年有直接联系和接触的人,都必须采用这种预防方法。至关重要的是,他们不能害怕去直接询问青少年有关自杀想法或意图的问题,抵制那些错误观念,即认为提出有关自杀问题会带来以前没有的风险。对于父母来说,了解他们的孩子可以得到什么帮助也是特别重要的。例如,精神病学家、心理学家、社会工作者和其他精神卫生专业人员可以提供临床护理;案例管理人员帮助访问环绕式服务;心理健康律师指导家庭通过我们心理健康系统的复杂法律框架,在某些情况下,进行精心分阶段的、临床的和合法的干预。如果当事人对自己或他人构成直接危险时,住院治疗也可能是合适的。
在宏观层面上,我们的国家可以做更多的事情来帮助那些与心理健康问题作斗争的个人及其家庭。例如,我们可以要求平等对待行为健康问题,这意味着,对行为健康问题的保险覆盖范围不能低于对身体疾病的覆盖范围,从而减轻与治疗和其他形式的治疗相关的经济负担。我们还可以敦促我们的议员,为那些关键的基于社区的行为健康项目提供资金,并探寻如何扩大个人在心理健康领域寻求职业生涯的渠道。
生词积累
finger pointing
指责;指指点点;相互指责
escalate
v. (战争)逐步升级;飞快增加;乘自动梯上升;像乘自动梯上升
dread
n. 惧怕;恐怖;可怕
permissive
adj. 放任的;纵容的;姑息的;(尤指两性关系)放纵的
uproot
v. 将…连根拔起;(使)离开家园(或熟悉的地方等)
put aside
储蓄;撇开;放在一边
proactive
adj. 积极主动的;主动出击的;先发制人的
at the macro level
在宏观层面
amplify
v. 放大;阐发
in the balance
悬而未决;未定;未定,在危急中
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