Prevod Govora Presjednika Busha: Americka Ekonomija Na Rubu Sloma

Septembar 24. 2008

Good evening.

Dobro vece

This is an extraordinary period for America’s economy.

Ovo je vanredno vriojeme za Americku ekonomiju.

Over the past few weeks, many Americans have felt anxiety about their finances and their future. I understand their worry and their frustration.

U zadnjih nekoliko sedmica, mnogi amerikanci strepe po pitanju svojih financija I buducnosti. Ja razumijem njihovu brigu I razocaranje.

We’ve seen triple-digit swings in the stock market. Major financial institutions have teetered on the edge of collapse, and some have failed. As uncertainty has grown, many banks have restricted lending, credit markets have frozen, and families and businesses have found it harder to borrow money.

Vidjeli smo trocifrene oscilacije na berzi. Znacajne financijske institucije su se zateturale I nalaze se na ivici sloma, I neke su vec pale. Neizvjestnost se povecala, mnoge banke su ogranicile davanje zajma, kreditno trziste je zaledjeno, I familije I firme imaju poteskoca da dobiju kredit.

We’re in the midst of a serious financial crisis, and the federal government is responding with decisive action.

Mi smo u centru ozbiljne financijske krize., I federalna vlada poduzima odlucne akcije..

We boosted confidence in money market mutual funds and acted to prevent major investors from intentionally driving down stocks for their own personal gain.

Mi smo pojacali povjerenje u “money market” (vid cuvanja novca gdje niko ne ocekuje da izgubi vrijednost uloga)

Most importantly, my administration is working with Congress to address the root cause behind much of the instability in our markets.

Sto je najvaznije, moja administracija radi sa kongresom na uzrocima koji su doveli do ove nestabinosti trzista.

Financial assets related to home mortgages have lost value during the house decline, and the banks holding these assets have restricted credit. As a result, our entire economy is in danger.

Financijska sredstva vezana za nekretnine su izgubela vrijednost za vrijeme pada cijena kuca, tako da su banke koje drze ta sredstva ogranicile davanje kredita. To je dovelo kompletnu ekonomiju u opasnost.

So I propose that the federal government reduce the risk posed by these troubled assets and supply urgently needed money so banks and other financial institutions can avoid collapse and resume lending.

Ovim, ja predlazem da federalna vlada smanji rizik uzrokovan ostojanjem tih problematicnih sredstava i ponudi novac koji je hitno potreban bankama i drugim inancijskim institucijama tako da izbjegnu slom i nastave s davanjem kredita.

This rescue effort is not aimed at preserving any individual company or industry. It is aimed at reserving America’s overall economy.

Svrha ovog spasavanja nije da se sacuvaju individualne kompanije ili industrije. Napor je usmjeren ka ocuvanju cijele ekonomije.

It will help American consumers and businesses get credit to meet their daily needs and create jobs. And it will help send a signal to markets around the world that America’s financial system is back on track.

To ce pomoci americkim potrosacima i kompanijama da nastave dobijati zajmove za svakodnevne potrebe i omoguciti stvaranju novih radnih mjesta. Isto tako, to ce dati signal svijetu da zna da je americki financijski sistem vracen na pravi put.

I know many Americans have questions tonight: How did we reach this point in our economy? How will the solution I propose work? And what does this mean for your financial future?

Ja znam da veceras mnogi od vas imaju pitanja: Kako se ovo sve desilo? Kako ce solucija koju ja predlazem raditi? I sta sve to znaci za moju financijsku buducnost?

These are good questions, and they deserve clear answers.

To su dobra pitanja koja zasluzuju jasan odgovor.

First, how did our economy reach this point? Well, most economists agree that the problems we’re witnessing today developed over a long period of time. For more than a decade, a massive amount of money flowed into the United States from investors abroad because our country is an attractive and secure place to do business.

Prvo, kako je ekonomija dosplela do ovog stanja? Pa, vecina ekonomista se slaze u misljenju da su problemi kojima smo danas svjedoci poceli i razvijali se vec duze vrijeme. U zadnjoj deceniji ogromna kolicina novca stranih investora se slivala u USA jer je nasa zemlja privlacno i sigurno mjesto za vodjenje poslova.

This large influx of money to U.S. banks and financial institutions, along with low interest rates, made it easier for Americans to get credit. These developments allowed more families to borrow money for cars, and homes, and college tuition, some for the first time. They allowed more
entrepreneurs to get loans to start new businesses and create jobs.

Taj veliki doljev novca u US Banke i financijske institucije, kao i niske kamate su omogucile americkim gradjanima da lako mogu dobiti kredite. Taj razvoj je omogucio velikom broju porodica da posudjuju novac za automobile, i kuce, i kredite za skolovanje, nekima po prvi put. To je isto tako omogucilo poduzetnicima zajmove za osnivanje novis preduzeca i radnih mjesta.

Unfortunately, there were also some serious negative consequences, particularly in the housing market. Easy credit, combined with the faulty assumption that home values would continue to rise, led to excesses and bad decisions.

Nazalost, nastale su neke veoma ozbiljne negativne posljedice, pogotovu na stambenom trzistu. Lagan kredit u kombinaciji sa pogresnom pretpostavkom da ce vrijednost kuca nastaviti da raste, je dovelo do neumjerenosti i losih odluka.

Many mortgage lenders approved loans for borrowers without carefully examining their ability to pay. Many borrowers took out loans larger than they could afford, assuming that they could sell or refinance their homes at a higher price later on.

Mnogi zajmodavci su odobravali kredite bez pazljivog provjeravanja da li pozajmljivac ima sposobnosti da plati. Mnogi pozajmljivaci su uzeli kredite vece nego sto su mogli podnijeti vjerujuci da ce vrijednost kuca porasti i da ce moci da prodaju ili izmjene uslove kreditiranja sa zaradom.

Optimism about housing values also led to a boom in home construction. Eventually, the number of new houses exceeded the number of people willing to buy them. And with supply exceeding demand, housing prices fell, and this created a problem.

Taj optimizam je u isto vrijeme uzrokovao porast u gradnji kuca. Najzad, broj novih kuca na trzistu je postao veci nego broj onih koji su bili voljni da kupe. I sa ponudom koja je prevazisla potraznju, cijene nekretnina su pale, i to je napravilo problem u kojem se sad nalazimo.

Borrowers with adjustable-rate mortgages, who had been planning to sell or refinance their homes at a higher price, were stuck with homes worth less than expected, along with mortgage payments they could not afford.

Ljudi koji su dobili kredite sa promijenjivom kamatom, i koji su planirali da prodaju ili promijene uslove kredita kad vrijednost kuce naraste, su se nasli u skripcu s ucama cija vrijednost je pala a rata postala veca nego sto oni mogu platiti.

As a result, many mortgage-holders began to default. These widespread defaults had effects far beyond the housing market.

To je rezultiralo u neizvrsavanju novcanih obaveza sa strane pozajmljivaca To siroko raspostranjeno neizvrsavanje novcanih obaveza je zahvatilo cijeli financijski sistem.

See, in today’s mortgage industry, home loans are often packaged together and converted into financial products called mortgage-backed securities. These securities were sold to investors around the world.

Vidite, stambena industrija danas, vrlo cesto pakuje kredite za kuce i pretvara ih u financijski proizvod koji se zove “mortgage-backed securities” (to su vrijednosni papiri garantirani hipotekama za kuce) Ti vrijednosni papiri su se prodavali investorima sirom svijeta.

Many investors assumed these securities were trustworthy and purchasers of mortgage-backed securities were Fannie Mae and Freddie Mac.

Mnogi investori su pretpostavili da su ti vrijednosni papiri vjerodostojni i kupci tih vrijednosnih papira su bili Fannie Mae i Freddie Mac. (Naj jace Americke firme za hipoteke sa zastitom americkog kongresa)

Because these companies were chartered by Congress, many believed they were guaranteed by the federal government. This allowed them to borrow enormous sums of money, fuel the market for questionable investments, and put our financial system at risk.

Posto su te dvije kompanije radile sa poveljom Kongresa, mnogi su vjerovali da imaju garanciju vlade USA. To im je omogucilo da posude ogromnu sumu novca, dajuci gorivo za sumljive investicije, i dovedu cijeli finansijski sistem u opasnost.

The decline in the housing market set off a domino effect across our economy. When home values declined, borrowers defaulted on their mortgages, and investors holding mortgage-backed securities began to incur serious losses.

Pad cijena na stambenom trzistu je uticao po “domino effectu” na cijelu ekonomiju. Kad su cijene kuca opale, pozajmljivaci su prestali da placaju, i investori koji su ulozili novac u vrijednosne papire sa garancijom u hipotekama su poceli gubiti ozbiljne kolicine novca.

Before long, these securities became so unreliable that they were not being bought or sold [by] investment banks, such as Bear Stearns and they could not sell. They ran out of money needed to meet their immediate obligations, and they faced imminent collapse.

Uskoro su ti vrijednosni papiri postali toliko nepouzdani da je kupovina i prodaja istih potpuno stala te investoro kao sto je Bear Stearns nisu mogli da ih prodaju da bi obezbjedili novac za druge obaveze sto je izazvalo njighov ubrzani kolaps.

Other banks found themselves in severe financial trouble. These banks began holding on to their money, and lending dried up, and the gears of the American financial system began grinding to a halt.

Sa situacijom koja je svakim danom sve neizvjesnija, ja sam se suocio sa izborom, ili da intervenisem sa dramaticnom akcijom vlade, ili da se izmaknem i dozvolim da neodgovorno ponasanje nekih potkopa financijsku sigurnost svih.

I’m a strong believer in free enterprise, so my natural instinct is to oppose government intervention. I believe companies that make bad decisions should be allowed to go out of business.

Ja cvrsto vjerujem u slobodnu ekonomiju, tako da je moj prirodni instinkt bio da se suprotstavim intrvenciji vlade jer vjerujem da kompanije koje su donosile lose odluke trebaju da propadnu.

Under normal circumstances, I would have followed this course. But these are not normal ircumstances. The market is not functioning properly. There has been a widespread loss of confidence, and major sectors of America’s financial system are at risk of shutting down.

Pod normalnim uslovima, ja ne bih pratio ovaj pravac. Ali ovo nisu normalne okolnosti. Trziste ne funkcionise kako treba. Glavni sektori americkog financijskog sistema su izgubili povjerenje, i sistem se zatvara.

The government’s top economic experts warn that, without immediate action by Congress, America could slip into a financial panic and a distressing scenario would unfold.

Glavni vladini ekonomski eksperti upozoravaju da ukoliko kongres ne preuzme stavri u svoje ruke Amerika moze da sklizne u pravcu financijske panike s nesretnim scenariom.

More banks could fail, including some in your community. The stock market would drop even more, which would reduce the value of your retirement account. The value of your home could plummet. Foreclosures would rise dramatically.

Vise banaka bi moglo pasti, ukljucujuci neke u vasoj sredini. Cijene akcija ce jos vise pasti i ugroziti penzione ustede. Vrijednost vasih domova bi mogao jako pasti.

And if you own a business or a farm, you would find it harder and more expensive to get credit. More businesses would close their doors, and millions of Americans could lose their jobs.

I ukoliko imate firme, naci cete se u situaciji da ce vam biti teze i skuplje da dobijete kredit. Mnoga poduzeca bi se zatvorila, i milioni Amerikanaca bi izgubili posao.

Even if you have good credit history, it would be more difficult for you to get the loans you need to
buy a car or send your children to college. And, ultimately, our country could experience a long and painful recession.

Cak i ako imate dobru kreditnu istoriju, bi ce teze dobiti zajam za novi automobil ili za vase dijece skolarinu. I, konacno nasa cijela zemlja bi mogla da padne u dugu i bolnu ekonomsku krizu.

Fellow citizens, we must not let this happen. I appreciate the work of leaders from both parties in both houses of Congress to address this problem and to make improvements to the proposal my administration sent to them.

Gradjani, mi ne smijemo dozvoliti da do toga dodje. Bit cu zahvalan vodjama obadvu politickih partija (Demokrati i Republikanci) u Kongresu i Senatu ako se zauuzmu rijesavanju ovog problema i razmatre i unaprijede prijedlog koji im je moja administracija poslala.

There is a spirit of cooperation between Democrats and Republicans and between Congress and this administration. In that spirit, I’ve invited Senators McCain and Obama to join congressional leaders of both parties at the White House tomorrow to help speed our discussions toward a
bipartisan bill.

Duh saradnje izmedju Demokrata i Republikanaca i izmedju Kongresa i Senata je prisutan po ovom pitanju. U tom raspolozenju, ja pozivam Senatore McCaina i Obamu da se pridruze ostalim vodjama obadviju partija sutra u Bijeloj Kuci i pomognu da se ubrza donosenje dvopatijske mjere.

I know that an economic rescue package will present a tough vote for many members of Congress. It is difficult to pass a bill that commits so much of the taxpayers’ hard-earned money.

Ja znam da ce ovaj ekonomski spasilacki paket biti teret mnogim clanovima kongresa. Tesko je donijeti zakon koji ce posvetiti toliki tesko zaradjenog novca gradjana koji placaju porez.

I also understand the frustration of responsible Americans who pay their mortgages on time, file their tax returns every April 15, and are reluctant to pay the cost of excesses on Wall Street.

Ja isto tako razumijem razocarenje odgovornih Amerikanaca koji placaju svoje hipoteke na vrijeme, placaju porez svakog 15og aprila, i koji nerado placaju za neumjerenost koju je pokazao Wall Street.

But given the situation we are facing, not passing a bill now would cost these Americans much more later.

Ali u situaciji u koja nam prijeti, ne donosenje zakonske mjere sada, kostat ce mnogo vise poslije.

Many Americans are asking, how would a rescue plan work? After much discussion, there’s now widespread agreement on the principles such a plan would include.

Mnogi se Amerikanci pitaju, kako ce se taj spasilacki plan provesti? Nakon brojnih razgovora, raspostranjena je saglasnost o principima koje takav plan treba da sadrzi.

It would remove the risk posed by the troubled assets, including mortgage-backed securities, now clogging the financial system. This would free banks to resume the flow of credit to American families and businesses.

Plan ce otkloniti rizik koji predstavljaju problematicna sredstva ukljucujuci vrijednosne papire garantovane hipotekom koji sada stopaju financijski sistem. To ce rasteretiti banke koje ce moci nastaviti snabdijevanje kredita Americkim familijama i poduzecima.

Any rescue plan should also be designed to ensure that taxpayers are protected. It should welcome the participation of financial institutions, large and small. It should make certain that failed executives do not receive a windfall from your tax dollars.

Svaki spasilacki plan treba da bude dizajniran na taj nacin da se osigura zastita posudjenog novca i dozvoli ucesce privatnih institucija, velikih i malih. Treba da osigura da sefovi palih institucija ne naprave zaradu od vasih para.

It should establish a bipartisan board to oversee the plan’s implementation, and it should be enacted as soon as possible.

Treba da uspostavi dvopartijsku komisiju koja ce nadgledati izvrsenje plana, i treba da se formira sto prije.

In close consultation with Treasury Secretary Hank Paulson, Federal Reserve Chairman Ben Bernanke, and SEC Chairman Chris Cox, I announced a plan on Friday.

U bliskim consultacijama sa Ministrom Financija Hankom Paulsonom, i Direktorom Federalne Banke Benom Bemankeom, i SEC Direktorom Chrisom Coxom, ja sam najavio plan u petak.

First, the plan is big enough to solve a serious problem. Under our proposal, the federal government would put up to $700 billion taxpayer dollars on the line to purchase troubled assets that are clogging the financial system.

Prvo, plan je dovoljno veliki da rijesi ozbiljan problem. Po nasem prijedlogu, Vlada ce staviti na raspolaganje $700 milijardi poreznickog novca s ciljem kupovine problematicnih sredstava koji stopaju financijski sistem.

In the short term, this will free up banks to resume the flow of credit to American families and businesses, and this will help our economy grow.

Ubrzo, to ce osloboditi banke da nastave tok kredita ka Americkim familijama i poduzecima i to ce pomoci nasoj ekonomiji da raste.

Second, as markets have lost confidence in mortgage-backed securities, their prices have dropped sharply, yet the value of many of these assets will likely be higher than their current price, because the vast majority of Americans will ultimately pay off their mortgages.

Drugo, kako je trziste izgubilo povjerenje u vrijednosne papire garantirane hipotekom, njihova cijena je drsticno pala, medjutim vrijednost tih sredstava je vjerovatno veca nego sto im je cijena jer ce vecina Amerikanaca nastaviti da placa svoju hipoteku.

The government is the one institution with the patience and resources to buy these assets at their current low prices and hold them until markets return to normal.

Vlada je jedina institucija sa dovoljno strpljenja i mogucnosti da odkupi ta sredstva po niskoj cijeni koju sad imaju i da ih drzi dok se trziste ne normalizira.

And when that happens, money will flow back to the Treasury as these assets are sold, and we expect that much, if not all, of the tax dollars we invest will be paid back.

Kad se to desi, novac ce se vratiti nazad kad se ta sredstva opet prodaju, i mi ocekujemo da ce najveci dio novca, ako ne sav novac, biti vracen.

The final question is, what does this mean for your economic future? Well, the primary steps — purpose of the steps I’ve outlined tonight is to safeguard the financial security of American workers, and families, and small businesses. The federal government also continues to enforce laws and regulations protecting your money.

Konacno pitanje je, sta to znaci za vasu ekonomsku buducnost? Prvobitni koraci – cilj koraka koje sam prezentirao veceras ja da zastitimo financijsku sigurnost Americkih radnika, i familija, i malih poduzeca. Vlada isto tako nastavlja sa provodjenjem zakona i regulacija da zastiti vas novac.

The Treasury Department recently offered government insurance for money market mutual funds. And through the FDIC, every savings account, checking account, and certificate of deposit is insured by the federal government for up to $100,000.

Ministarstvo financija je nedavno ponudilo vladino osiguranje za “Money market mutual funds” (sigurne akcije) I kroz FDIC (federalno osiguranje) svaki stedni racun je osiguran do iznosa od $100,000.

The FDIC has been in existence for 75 years, and no one has ever lost a penny on an insured deposit, and this will not change.

FDIC postoji vec 75 godina, i nikad se nije desilo da neko izgugi jedan peni ako je bio osiguran. To se nece promijeniti.

Once this crisis is resolved, there will be time to update our financial regulatory structures. Our 21st-century global economy remains regulated largely by outdated 20th-century laws.

Onog momenta kad prevazidjemo ovu krizu, bit ce vrijeme da se poprave regulacije. Nasa ekonomija 21-og vijeka ima zastarjele regulacije 20-og vijeka.

Recently, we’ve seen how one company can grow so large that its failure jeopardizes the entire financial system.

Nedavno smo vidjeli kako kompanije mogu da narastu tako velike da kad padnu dovedu u opasnost cijeli financijski sistem

Earlier this year, Secretary Paulson proposed a blueprint that would modernize our financial regulations. For example, the Federal Reserve would be authorized to take a closer look at the operations of ompanies across the financial spectrum and ensure that their practices do not threaten overall financial stability.

Nesto ranije ove godine, Sekretar Paulsen je predlozio sematski plan koji bi modernizovao nase trzisne regulacije. Na primjer, Federalna Rezerva bi bila ovlastena da ima pravo pregleda svake >kompanije u finacijskom spektru i utvrdi da se ne rizikuje opsta financijska stabilnost zemlje.

There are other good ideas, and members of Congress should consider them. As they do, they must ensure that efforts to regulate Wall Street do not end up hampering our economy’s ability to grow.

Tu se nalaze vise od tih takvih dobrih ideja koje kongres treba da razmotri. Isto tako, moraju osigurati da regulacije ne budu previse stroge i smetaju razvoj

In the long run, Americans have good reason to be confident in our economic strength. Despite corrections in the marketplace and instances of abuse, democratic capitalism is the best system ever devised.

Na duge staze, Amerikanci imaju dobre razloge da vjeruju u nasu ekonomsku snagu. Uprkos korekcija na trzistu i slucajeva zloupotreba, domaci kapitalizam je najbolji sistem koji je ikad napravljen.

It has unleashed the talents and the productivity and entrepreneurial spirit of our citizens. It has made this country the best place in the world to invest and do business. And it gives our economy the flexibility and resilience to absorb shocks, adjust and bounce back.

Pustio je s uzice talente i poduzetnicki duh nasih gradjana. On je napravio ovu zemlju najboljim mjestom na cijelom svijetu za investicije i biznis. I dao je nasoj ekonomiji fleksibilnost i otpornost ta absorbira sve udarce, da se prilagodi i vrati nazad.

Our economy is facing a moment of great challenge, but we’ve overcome tough challenges before, and we will overcome this one.

Nasa ekonomija se suocila sa ogromnim izazovom., ali mi smo prevazisli teske izazove u proslosti pa cemo prevazici i ovaj

I know that Americans sometimes get discouraged by the tone in Washington and the seemingly endless partisan struggles, yet history has shown that, in times of real trial, elected officials rise to the occasion.

Ja znam da su Amerikanci ponekad obeshrabreni kad cuju kako se Washington ponasa i kako se beskrajno koska medju partijama, ali istorija je pokazala da u vremenima teskih izazova, izabrani sluzbenici znaju da sardjuju.

And together we will show the world once again what kind of country America is: a nation that tackles problems head on, where leaders come together to meet great tests, and where people of every background can work hard, develop their talents, and realize their dreams.

Zajedno ce mo opet pokazati svijetu kava smo mi zemlja.; narod koji se suocava s problemima lice u lice, gdje se vodje skupe da zajedno prodju teske testove, i gdje svi ljudi mogu da tesko rade, razvijaju svoje talente, i ostvare svoje snove.

Thank you for listening. May God bless you.

Hvala vam sto ste me saslusali. Bozija milost s vama.