We increasingly hear that “the world is awash with liquidity,” and that this justifies expecting asset prices to continue rising. But what does such liquidity mean, and is there really reason to expect that it will sustain further increases in stock and real estate prices?
我们越来越多地听到“流动性泛滥”这个词，并说正是它会造成资产价格的持续攀升。但是这种流动性到底意味着什么，并且真的有理由可以认为它会导致股票和房地产价格的继续上涨吗？