This key difference between the US and (continental) Europe explains the resilience of the US economy to the collapse of its credit boom. The excessive debt accumulated by households has been worked off much more rapidly; and, once losses have been recognized, people can start again.
这一美国和（大陆）欧洲的关键差异解释了为何美国经济在信用繁荣崩溃面前有如此强大的恢复力。家庭所积累的过度债务以快得多的速度被消灭；而一旦损失得到承认，人们可以重头开始。