But the US should be far more worried about promoting faster adjustment of its still-gaping trade deficit, which in many ways lies at the root of the recent sub-prime mortgage crisis. The administration’s multi-pronged effort to postpone pain to US consumers, including super easy monetary and fiscal policy, only risks a greater crisis in the not-too-distant future.
或许布什政府担心如果石油国家抛弃美元标准，美元现在的弱势可能会转变成崩溃。但是，美国应该更加担心推进加快调整仍在扩大的贸易逆差的措施，这在许多方面是最近的次级抵押贷款危机爆发的根源。布什政府多管齐下延缓美国消费者痛苦的努力，包括超级简单的货币和财政政策，只会导致在不远的将来产生更大的危机的风险。不难想象，在2009初期，在下一任美国总统就职后不久，整个策略就会自食其果。