Before the financial crisis erupted in 2008, consumers buoyed US demand by borrowing heavily against their rising house prices. Now these heavily indebted households cannot borrow and spend any more.
答案在于他们对持续高失业根源的看法：过高的真实利率。此种逻辑十分简单。2008年金融危机爆发以前，消费者利用上涨的房价大量举债，撑起了美国的需求。如今，这些负债累累的家庭不再能够通过借钱来应付开支了。