Wsoh
2021-04-26
Highs will only get higher
The last Roaring Twenties ended in disaster. Should investors be worried?<blockquote>上一个咆哮的二十年代以灾难告终。投资者应该担心吗？</blockquote>
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Should investors be worried?<blockquote>上一个咆哮的二十年代以灾难告终。投资者应该担心吗？</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1136207293","media":"CNN Business","summary":"New York (CNN Business) - If this is a new Roaring Twenties for stocks and the economy, do we need t","content":"<p><b>New York (CNN Business)</b> - If this is a new Roaring Twenties for stocks and the economy, do we need to worry about how the 1920s ended?</p><p><blockquote><b>纽约（CNN商业）</b>——如果这是股市和经济新的咆哮的20年代，我们是否需要担心20年代是如何结束的？</blockquote></p><p> There has been a lot of talk about how the combination of massive economic stimulus and vaccines for Covid-19 could bring about a lengthy financial boom — just as there was during the 1920s after the end of the influenza pandemic.</p><p><blockquote>人们一直在谈论大规模经济刺激和Covid-19疫苗的结合如何带来长期的金融繁荣——就像大流行流感结束后的20世纪20年代一样。</blockquote></p><p> But if you follow this analogy to its conclusion, there could be a major cause for concern. After all, the 1920s ended with the Black Tuesday stock market crash in October 1929 — right at the onset of the Great Depression.</p><p><blockquote>但是如果你按照这个类比得出结论，可能会有一个令人担忧的主要原因。毕竟，20世纪20年代以1929年10月的黑色星期二股市崩盘而告终——就在大萧条开始的时候。</blockquote></p><p> \"The Roaring Twenties were a great period of time for investors but they didn't end well,\" said Randy Frederick, vice president of trading and derivatives for Schwab Center for Financial Research.</p><p><blockquote>嘉信理财金融研究中心交易和衍生品副总裁兰迪·弗雷德里克(Randy Frederick)表示：“对投资者来说，繁荣的二十年代是一段美好的时光，但结局并不好。”</blockquote></p><p> Some experts worry that similar excesses could be building now in the stock market and economy. You see it with the rise of meme stocks likeGameStop(GME), the surge in bitcoin and other cryptocurrencies and the unrelenting runup in US housing prices.</p><p><blockquote>一些专家担心，类似的过度行为现在可能正在股市和经济中积累。你可以从GameStop(GME)等模因股票的上涨、比特币和其他加密货币的飙升以及美国房价的持续上涨中看到这一点。</blockquote></p><p> Still, that doesn't necessarily mean it's time to panic and start preparing for another significant upheaval.</p><p><blockquote>尽管如此，这并不一定意味着是时候恐慌并开始为另一场重大剧变做准备了。</blockquote></p><p> \"Another Great Depression scenario is hard to see,\" said Troy Gayeski, co-chief investment officer of SkyBridge Capital.</p><p><blockquote>SkyBridge Capital联席首席投资官特洛伊·盖耶斯基(Troy Gayeski)表示：“很难看到另一场大萧条。”</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/d90351b7321b271e6cdd9cc103f29166\" tg-width=\"780\" tg-height=\"438\"><span>Traders rush in 1929 as the New York Stock Exchange crashes, sparking a run on banks.</span></p><p><blockquote><p class=\"t-img-caption\"><span>1929年，纽约证券交易所崩盘，引发银行挤兑，交易员蜂拥而至。</span></p></blockquote></p><p> Gayeski noted that many big businesses and consumers have stockpiled cash. The personal savings rate in the US is currently hovering just under 14% — compared to 7.6% in January 2020.</p><p><blockquote>盖耶斯基指出，许多大企业和消费者都储备了现金。美国的个人储蓄率目前徘徊在略低于14%，而2020年1月为7.6%。</blockquote></p><p> This cushion should prevent the economy from going into free fall even if there is more volatility in stocks.</p><p><blockquote>即使股市波动更大，这种缓冲也应该可以防止经济陷入自由落体。</blockquote></p><p> \"I don't think a short-term hangover will lead to a multi-year downturn,\" Gayeski said.</p><p><blockquote>“我不认为短期的宿醉会导致多年的低迷，”盖耶斯基说。</blockquote></p><p> Frederick agreed that investors are not worrying about a meltdown, in part because stocks already took a massive hit last year due to the pandemic — and quickly recovered.</p><p><blockquote>弗雷德里克同意，投资者并不担心崩溃，部分原因是股市去年已经因疫情而遭受巨大打击，但很快就恢复了。</blockquote></p><p> Wall Street is also hopeful that economic policymakers, most notably Treasury Secretary (and former Federal Reserve chair) Janet Yellen and current Fed chair Jerome Powell, will not do anything rash that risks jeopardizing the recovery of the economy or market.</p><p><blockquote>华尔街还希望经济政策制定者，尤其是财政部长（前美联储主席）珍妮特·耶伦和现任美联储主席杰罗姆·鲍威尔，不要做出任何可能危及经济或市场复苏的鲁莽行为。</blockquote></p><p> \"There is a lot of confidence in Yellen. She knows what she's doing. And the Fed won't raise rates aggressively,\" said Louis Navellier, chief investment officer of Navellier & Associates.</p><p><blockquote>Navellier&Associates首席投资官Louis Navellier表示：“人们对耶伦很有信心。她知道自己在做什么。而且美联储不会大幅加息。”</blockquote></p><p> That should keep the economy and financial markets humming along. Of course, there will likely be corrections along the way. That's only natural.</p><p><blockquote>这应该会让经济和金融市场保持繁荣。当然，一路上可能会有修正。那是很自然的。</blockquote></p><p> But Gayeski said it's hard to imagine inflation roaring back in such dramatic fashion that it would lead the Fed, which meets again on Wednesday, to change course.</p><p><blockquote>但盖耶斯基表示，很难想象通胀会以如此戏剧性的方式反弹，以至于导致周三再次开会的美联储改变方针。</blockquote></p><p> Absent that, the Fed can stay on hold and investors won't have to worry that the central bank will grind the economy to a halt with big rate hikes.</p><p><blockquote>如果没有这一点，美联储可以按兵不动，投资者也不必担心央行会通过大幅加息使经济陷入停滞。</blockquote></p><p> \"Covid dealt such a massive body blow to the economy but there has been unprecedented monetary and fiscal stimulus and the markets have responded to that. At some point, the Fed may have to gradually let up on the accelerator. But not right now,\" he said.</p><p><blockquote>“新冠疫情对经济造成了如此巨大的打击，但出现了前所未有的货币和财政刺激措施，市场也对此做出了反应。在某个时候，美联储可能不得不逐渐放松油门。但不是现在，”他说。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>The last Roaring Twenties ended in disaster. 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Should investors be worried?<blockquote>上一个咆哮的二十年代以灾难告终。投资者应该担心吗？</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">CNN Business</strong><span class=\"h-time small\">2021-04-26 09:27</span>\n</p>\n</h4>\n</header>\n<article>\n<p><b>New York (CNN Business)</b> - If this is a new Roaring Twenties for stocks and the economy, do we need to worry about how the 1920s ended?</p><p><blockquote><b>纽约（CNN商业）</b>——如果这是股市和经济新的咆哮的20年代，我们是否需要担心20年代是如何结束的？</blockquote></p><p> There has been a lot of talk about how the combination of massive economic stimulus and vaccines for Covid-19 could bring about a lengthy financial boom — just as there was during the 1920s after the end of the influenza pandemic.</p><p><blockquote>人们一直在谈论大规模经济刺激和Covid-19疫苗的结合如何带来长期的金融繁荣——就像大流行流感结束后的20世纪20年代一样。</blockquote></p><p> But if you follow this analogy to its conclusion, there could be a major cause for concern. After all, the 1920s ended with the Black Tuesday stock market crash in October 1929 — right at the onset of the Great Depression.</p><p><blockquote>但是如果你按照这个类比得出结论，可能会有一个令人担忧的主要原因。毕竟，20世纪20年代以1929年10月的黑色星期二股市崩盘而告终——就在大萧条开始的时候。</blockquote></p><p> \"The Roaring Twenties were a great period of time for investors but they didn't end well,\" said Randy Frederick, vice president of trading and derivatives for Schwab Center for Financial Research.</p><p><blockquote>嘉信理财金融研究中心交易和衍生品副总裁兰迪·弗雷德里克(Randy Frederick)表示：“对投资者来说，繁荣的二十年代是一段美好的时光，但结局并不好。”</blockquote></p><p> Some experts worry that similar excesses could be building now in the stock market and economy. You see it with the rise of meme stocks likeGameStop(GME), the surge in bitcoin and other cryptocurrencies and the unrelenting runup in US housing prices.</p><p><blockquote>一些专家担心，类似的过度行为现在可能正在股市和经济中积累。你可以从GameStop(GME)等模因股票的上涨、比特币和其他加密货币的飙升以及美国房价的持续上涨中看到这一点。</blockquote></p><p> Still, that doesn't necessarily mean it's time to panic and start preparing for another significant upheaval.</p><p><blockquote>尽管如此，这并不一定意味着是时候恐慌并开始为另一场重大剧变做准备了。</blockquote></p><p> \"Another Great Depression scenario is hard to see,\" said Troy Gayeski, co-chief investment officer of SkyBridge Capital.</p><p><blockquote>SkyBridge Capital联席首席投资官特洛伊·盖耶斯基(Troy Gayeski)表示：“很难看到另一场大萧条。”</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/d90351b7321b271e6cdd9cc103f29166\" tg-width=\"780\" tg-height=\"438\"><span>Traders rush in 1929 as the New York Stock Exchange crashes, sparking a run on banks.</span></p><p><blockquote><p class=\"t-img-caption\"><span>1929年，纽约证券交易所崩盘，引发银行挤兑，交易员蜂拥而至。</span></p></blockquote></p><p> Gayeski noted that many big businesses and consumers have stockpiled cash. The personal savings rate in the US is currently hovering just under 14% — compared to 7.6% in January 2020.</p><p><blockquote>盖耶斯基指出，许多大企业和消费者都储备了现金。美国的个人储蓄率目前徘徊在略低于14%，而2020年1月为7.6%。</blockquote></p><p> This cushion should prevent the economy from going into free fall even if there is more volatility in stocks.</p><p><blockquote>即使股市波动更大，这种缓冲也应该可以防止经济陷入自由落体。</blockquote></p><p> \"I don't think a short-term hangover will lead to a multi-year downturn,\" Gayeski said.</p><p><blockquote>“我不认为短期的宿醉会导致多年的低迷，”盖耶斯基说。</blockquote></p><p> Frederick agreed that investors are not worrying about a meltdown, in part because stocks already took a massive hit last year due to the pandemic — and quickly recovered.</p><p><blockquote>弗雷德里克同意，投资者并不担心崩溃，部分原因是股市去年已经因疫情而遭受巨大打击，但很快就恢复了。</blockquote></p><p> Wall Street is also hopeful that economic policymakers, most notably Treasury Secretary (and former Federal Reserve chair) Janet Yellen and current Fed chair Jerome Powell, will not do anything rash that risks jeopardizing the recovery of the economy or market.</p><p><blockquote>华尔街还希望经济政策制定者，尤其是财政部长（前美联储主席）珍妮特·耶伦和现任美联储主席杰罗姆·鲍威尔，不要做出任何可能危及经济或市场复苏的鲁莽行为。</blockquote></p><p> \"There is a lot of confidence in Yellen. She knows what she's doing. And the Fed won't raise rates aggressively,\" said Louis Navellier, chief investment officer of Navellier & Associates.</p><p><blockquote>Navellier&Associates首席投资官Louis Navellier表示：“人们对耶伦很有信心。她知道自己在做什么。而且美联储不会大幅加息。”</blockquote></p><p> That should keep the economy and financial markets humming along. Of course, there will likely be corrections along the way. That's only natural.</p><p><blockquote>这应该会让经济和金融市场保持繁荣。当然，一路上可能会有修正。那是很自然的。</blockquote></p><p> But Gayeski said it's hard to imagine inflation roaring back in such dramatic fashion that it would lead the Fed, which meets again on Wednesday, to change course.</p><p><blockquote>但盖耶斯基表示，很难想象通胀会以如此戏剧性的方式反弹，以至于导致周三再次开会的美联储改变方针。</blockquote></p><p> Absent that, the Fed can stay on hold and investors won't have to worry that the central bank will grind the economy to a halt with big rate hikes.</p><p><blockquote>如果没有这一点，美联储可以按兵不动，投资者也不必担心央行会通过大幅加息使经济陷入停滞。</blockquote></p><p> \"Covid dealt such a massive body blow to the economy but there has been unprecedented monetary and fiscal stimulus and the markets have responded to that. At some point, the Fed may have to gradually let up on the accelerator. But not right now,\" he said.</p><p><blockquote>“新冠疫情对经济造成了如此巨大的打击，但出现了前所未有的货币和财政刺激措施，市场也对此做出了反应。在某个时候，美联储可能不得不逐渐放松油门。但不是现在，”他说。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://edition.cnn.com/2021/04/25/investing/stocks-week-ahead/index.html\">CNN Business</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite",".DJI":"道琼斯",".SPX":"S&P 500 Index"},"source_url":"https://edition.cnn.com/2021/04/25/investing/stocks-week-ahead/index.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1136207293","content_text":"New York (CNN Business) - If this is a new Roaring Twenties for stocks and the economy, do we need to worry about how the 1920s ended?\nThere has been a lot of talk about how the combination of massive economic stimulus and vaccines for Covid-19 could bring about a lengthy financial boom — just as there was during the 1920s after the end of the influenza pandemic.\nBut if you follow this analogy to its conclusion, there could be a major cause for concern. After all, the 1920s ended with the Black Tuesday stock market crash in October 1929 — right at the onset of the Great Depression.\n\"The Roaring Twenties were a great period of time for investors but they didn't end well,\" said Randy Frederick, vice president of trading and derivatives for Schwab Center for Financial Research.\nSome experts worry that similar excesses could be building now in the stock market and economy. You see it with the rise of meme stocks likeGameStop(GME), the surge in bitcoin and other cryptocurrencies and the unrelenting runup in US housing prices.\nStill, that doesn't necessarily mean it's time to panic and start preparing for another significant upheaval.\n\"Another Great Depression scenario is hard to see,\" said Troy Gayeski, co-chief investment officer of SkyBridge Capital.\nTraders rush in 1929 as the New York Stock Exchange crashes, sparking a run on banks.\nGayeski noted that many big businesses and consumers have stockpiled cash. The personal savings rate in the US is currently hovering just under 14% — compared to 7.6% in January 2020.\nThis cushion should prevent the economy from going into free fall even if there is more volatility in stocks.\n\"I don't think a short-term hangover will lead to a multi-year downturn,\" Gayeski said.\nFrederick agreed that investors are not worrying about a meltdown, in part because stocks already took a massive hit last year due to the pandemic — and quickly recovered.\nWall Street is also hopeful that economic policymakers, most notably Treasury Secretary (and former Federal Reserve chair) Janet Yellen and current Fed chair Jerome Powell, will not do anything rash that risks jeopardizing the recovery of the economy or market.\n\"There is a lot of confidence in Yellen. She knows what she's doing. And the Fed won't raise rates aggressively,\" said Louis Navellier, chief investment officer of Navellier & Associates.\nThat should keep the economy and financial markets humming along. Of course, there will likely be corrections along the way. That's only natural.\nBut Gayeski said it's hard to imagine inflation roaring back in such dramatic fashion that it would lead the Fed, which meets again on Wednesday, to change course.\nAbsent that, the Fed can stay on hold and investors won't have to worry that the central bank will grind the economy to a halt with big rate hikes.\n\"Covid dealt such a massive body blow to the economy but there has been unprecedented monetary and fiscal stimulus and the markets have responded to that. At some point, the Fed may have to gradually let up on the accelerator. But not right now,\" he said.","news_type":1,"symbols_score_info":{".DJI":0.9,".SPX":0.9,".IXIC":0.9}},"isVote":1,"tweetType":1,"viewCount":1558,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":22,"xxTargetLangEnum":"ORIG"},"commentList":[],"isCommentEnd":true,"isTiger":false,"isWeiXinMini":false,"url":"/m/post/374033803"}
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