A US downturn will not be avoided. US households cannot continue to spend more than their income as they have in recent years, even if the credit crunch eases. Household consumption is bound to fall steeply. The writedowns in US household wealth from the reversals in housing and equities will probably reach $15,000bn (€12,000bn, ￡9,700bn) and the resulting steep decline in private consumption and investment could reach about one-tenth of that amount.
美國的衰退是無法避免的。即使信貸緊縮有所緩和，美國家庭也不能再像近些年那樣寅吃卯糧。家庭消費必然會急劇萎縮。樓市和股市逆轉可能導致美國家庭財富縮水15萬億美元，由此產生的私人消費及投資的大幅下降可能達這一數額的十分之一。
您已閱讀10%（564字），剩余90%（4816字）包含更多重要信息，訂閱以繼續探索完整內容，并享受更多專屬服務。