The Great Recession did not turn into Great Depression II because of coordinated action by governments around the world. Although fiscal expansion may have played a role in this success, central bank intervention was the most important component by far.
大衰退不会变为第二次大萧条，因为全世界政府能够协调行动。尽管财政扩张在其中起到了一定效果，但到目前为止，央行干预才是最重要的。量化宽松通过提振财富价值起作用。不管是在美国还是在英国，量化宽松都减少了长期政府债券的实际预期回报，这有利于股市复苏。