The eleventh hour is a colloquial expression meaning "a time which is nearly too late". The phrase originates in the book of Matthew of the Christian bible and references workmen being hired late in the day
这里指美国 in hock(American slang for' pawn '=in debt): 被典当 ‘the bondholders to whom the land of the free is in hock.’ 原文直译,我感觉这句话有讽刺意味,债券持有者的对象是有一个深陷负债泥潭的自由之国。