使通货膨胀

Just as the Depression spawned Keynesianism, and the 1970s stagflation fuelleda backlash, creative destructionis already under way.

就像经济大萧条使凯恩斯主义者的大量涌现，二十世纪七十年代的经济停滞与通货膨胀激起了对抗性反应，具有创造性的销毁已经到来。

But this marriage of convenience contains the seed of a bitter divorce: the growing bilateral US trade deficit with China is open to populist exploitation, while the US current account deficit makes the world's key currency vulnerable to an inflationary collapse.

但是，这种方便的姻缘关系隐含着日后闹离婚的隐患：美国与中国日益增长的贸易赤字，常常成为美国政治家蛊惑人心的借口。在通货膨胀的威胁面前，美国的经常帐户赤字使美元这个主要的世界货币十分脆弱。

Additionally the spiral of inflation can weaken the function of rouble as the scale of value, medium of circulation and deposit. Rouble is expelled from circulation; the economy nearly collapses. Consequently, the production contacts seriously; most of resident fall into impoverishment; social contradiction and political situation become badly.

另外，通货膨胀"螺旋"会逐渐削弱卢布作为价值尺度、流通手段和储藏手段的货币功能，卢布被排挤出流通领域已经使经济联系陷于崩溃，结果是生产灾难性地萎缩，绝大部分居民的生活贫困化，社会矛盾以及社会政治局势被极大地激化了。

Under the Fisher hypothesis, an increase in nominal money growth — which is reflected one for one in an increase in inflation — has no effect on the real interest rate in the long run and increases the nominal interest rate by an amount equal to increase in money growth.

在 FISHER 假说下，名义货币的增长与通货膨胀的增长是一一对应的，在长期内对实际利率没有影响，并通过等量于货币增长的增加使名义利率也增加。

Thatmay give today's policymakers more leeway than their predecessorsenjoyed. But since this wiggleroom is the legacy of low inflationvolatility, it cannot be taken for granted. Were central bankers tolose their guard, inflation could soon resurge.

这也许会使今天的货币政策制定者比前任们有更多的回旋余地，但是这个局面只是低通胀时代的产物，还不能完全的掉以轻心，如果央行行长们放松了警惕，通货膨胀还会卷土重来。

Currency substitution is the inevitable problem during the developing course of developing countries,which will make exchange rate fluctuate frequently、influence the independence of monetary policy、decrease government's inflation tax and seigniorage、slack social public's confidence in domestic currency , only to the stability of macro-economy and the effective power of economic policies.

货币替代是发展中国家在开放过程中所不可避免的问题，它的存在会使汇率频繁波动、影响货币政策独立性、削弱政府的通货膨胀税和铸币税、涣散社会公众对本币的信心等，这会严重影响国家宏观经济的稳定和经济政策的效力。

Spiraling inflation has only made matters worse.

螺旋式上升的通货膨胀只能使情况日益糟糕。

We are able to grow faster without triggering inflation than we thought possible.

我们能够使经济在快速增长的同时，免受通货膨胀之苦。

I am not saying Germany should make its workers uncompetitive or accept much higher inflation, either.

我并不是在说德国使它的工人无竞争力或是接受更高的通货膨胀。

It causes unreasonableness, disagreement, mistrust, and unhappiness.

通货膨胀使人没有理性，意见不合，互不信任，给生活带来不幸。

In the United States, chronic alcoholism and hepatitis C are the most common ones.

在美国，慢性酒精中毒，肝炎是最常见的。

If you have any questions, you can contact me anytime.

如果有任何问题，你可以随时联系我。