The Great 2008 Financial Crisis
2008年金融危機
語音播放：

You might be old enough to remember, or surely you’ve at least heard of the global financial crisis that peaked in September 2008. Economists indicate that this was the worst economic catastrophe since the Great Depression of the 1930s.
依你的年紀可能你有印象，或者你一定至少聽說過在2008年9月達到最巔峰的全球金融危機。經濟學家表示，這是自三十年代大蕭條以來最嚴重的經濟災難。

語音播放：

It is estimated that trillions of dollars were lost by individuals and corporations as a result of the crisis (1 trillion = 1,000,000,000,000). Major banks around the world would have collapsed if it had not been for financial assistance from their governments. Unemployment skyrocketed, major businesses failed, and people lost their homes. Many countries went into debt, and the global economy went into a state of depression for the following four years.
據估計，個人與公司行號因為這次危機損失了數萬億美元（1萬億= 1兆）。如果不是來自政府的金援，世界各大銀行早就倒了。失業人數暴增、大企業倒閉、而且人們頓失住所。許多國家欠下債務，全球經濟在後來四年進入蕭條狀態。

語音播放：

To explain such a complicated phenomenon as a global financial crisis is no simple task. But most experts agree that it all began in the United States. Many factors were responsible, but chief among them was the US ‘housing bubble.’
要說明像全球金融危機這樣一個複雜的現象並不簡單，但是大多數專家都同意這一切開端都是從美國開始。許多因素都導致這個情況，但其中最主要的是美國的房市泡沫化。

語音播放：

From 1997-2006, American banks made it too easy to get loans for buying a house. Many Americans bought houses that they couldn’t even afford. This caused houses to get more and more expensive, so the ‘bubble’ got bigger and bigger. But housing companies built too many new houses to meet demand, and eventually the bubble popped. Over a million people lost their homes, and the houses were now worth even less than the loans themselves. As a result, the loaning banks and all their investors lost hundreds of billions practically overnight.
1997年至2006年，美國銀行讓貸款購屋變得非常容易。許多美國人甚至買了他們無法負擔的房子。這使房屋越來越貴，所以「泡沫」越變越大。然而，建設公司建造了太多的新房子來滿足需求，最終泡沫終於破了。超過一百萬人失去住所，房屋現值遠遠低於貸款本身。結果，貸款銀行及其所有投資者幾乎是在一夜之間損失了數千億美元。

Vocabulary 好字精選

1. peak (v) to reach a high/top/best point 高峰
The song reaches its peak right before the end. 
歌曲在結尾前達到高峰。

2. depression (n) an economic downtown (NOT SADNESS) 蕭條
People had to line up on the street for a small bag of rice during the depression.
在經濟蕭條期間，人們不得不在街上排隊領取一小袋米。

3. collapse (v) fall apart 崩壞、倒塌
The tall building collapsed during the earthquake.  
這棟高樓在地震期間倒塌了。

4. skyrocket (v) go up rapidly in a very short period of time 飆升
The price of oil skyrocketed during the war.
石油價格在戰爭期間飆漲。

5. eventually (adv) in the end, usually after a long time/delay 最終
After playing for days, Jamie eventually managed to win the video game.
在玩了幾天之後，Jamie終於贏了這個電動遊戲。

6. practically (adv) just about 實際上、幾乎是
Debra works so much that she practically lives at her office.
Debra的工時超長，因此她幾乎是住在她的辦公室。

Phrases and Sentence Patterns 句型解析

1. if it were not for + sth (present tense) 若不是+某件事情(現在式) if it had not been for + sth (past tense) 若不是+ 某件事情(過去式) (phr) if sth. hadn’t happened（phr）如果某件事情 沒有發生(片語)
If it had not been for Peter’s help, Donovan would not have been able to get his car out of the ditch.
若非Peter幫忙，Donovan就不可能將他的車弄出水溝。

2.  go into debt (phr) 陷入債務
Iceland went into severe debt during the crisis.
冰島在危機期間負擔沉重的債務。

3. sth. + be + no + ADJ + N (sentence pattern) 不是
Getting accepted into that top university is no simple thing to do.
被這所頂尖大學接受入學不是件容易的事情。

4. chief among them + be (phr) 其中最主要
There are many reasons why Nick wants to go to Thailand. Chief among them is to eat delicious Thai food.
Nick想去泰國的原因有很多，其中最主要是吃好吃的泰國菜。

Exercise 課後練習題

1. The violence _______________ on the second night of the war, when bombs were fired from both sides.
戰爭的第二天晚上，暴力事件在雙方發射炸彈時到達巔峰。

2. China was badly hit by the economic _______________ in the early 1930s.
1930年初，中國受到經濟蕭條的嚴重打擊。

3. The entire market _______________ overnight, making the value of stocks drop to almost zero.
整個市場一夜之間崩盤，股價幾乎跌到零。

4. Demand for that kind of hat ______________ after the pop star wore it in one of his videos.
這位流行歌手在他的影片中戴了這頂帽子後，帽子的需求飆升。

5. The backpackers were having so much fun, but they knew that _______________ they had to go back home.
那些背包客們玩得很開心，但他們知道他們最後不得不回家。

6. That boxer is so strong that he seems _______________ impossible to beat.
那位拳擊手是如此地強壯，看似幾乎不可能被打敗。

7. That boxer is so strong that he seems _______________ impossible to beat.
如果不是Jonathan最好的朋友的幫忙，他永遠無法渡過艱難的時刻。

8. Mr. Anderson has gone _______________ because he keeps borrowing money from people to fund his gambling habit.
Anderson先生不斷地為他的賭博嗜好向別人借錢，以致於欠債。

9. Winning that award _______________ easy accomplishment.
獲得那個獎不是一件容易的成就。

10. There were many factors contributing to the couple’s divorce, but _______________ was the fact that they always argued over small things.
有很多因素導致那對夫妻的離婚，但其中最主要是他們一直在為小事情爭吵。

解答:
1. peaked
2. depression
3. collapsed
4. skyrocketed
5. eventually
6. practically
7. If it had not been for
8. into debt
9. is no
10. chief among them

Comprehension Questions 閱讀理解

1. Who was adversely affected by the global financial crisis?
a. Investors.  
b. Governments.
c. Banks.
d. All of the above.

2. Which of the following did NOT happen when the housing bubble popped?
a. Many Americans lost their homes.
b. Some large banks became very rich.
c. Investors lost large sums of money practically overnight.
d. The value of homes suddenly dropped.

解答:

1. 誰受到全球金融危機的不利影響？
a. 投資者。
b. 各國政府
c. 銀行。
d. 以上皆是。  

2. 當房屋泡沫破了時，以下何者不會發生?
a. 許多美國人失去了住所。
b. 一些大銀行變得非常有錢。  
c. 投資者幾乎一夜之間就虧損了大筆資金。
d. 房屋的價值突然下降。

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