America’s fiscal and external deficits will not disappear just because the chief magician at the Federal Reserve waves his wand and says abracadabra. On the contrary, the longer Greenspan plays down America’s dangerous macroeconomic imbalances with happy talk, the more damage they will ultimately inflict on the global economy.
美国的财政赤字和外部赤字不会仅仅因为美联储的首席魔术师挥舞着他手上的魔杖、念上几句咒语就消失了。相反，格里斯潘越是长期使用乐观谈话来淡化美国岌岌可危的宏观经济不平衡，就会最终给全球经济带来越多的危机。