First, the exit strategy from monetary and fiscal easing could be botched, because policymakers are damned if they do and damned if they don’t. If they take their fiscal deficits (and a potential monetization of these deficits) seriously and raise taxes, reduce spending, and mop up excess liquidity, they could undermine the already weak recovery.
如何避免第二次危机的发生，我们还有两个因素需要考虑。第一，政府继续加大财政和金融的投资的问题，不管做与不做，都不会有什么好结果。如果为了消除巨额赤字而增税，减少支出，消除过度的信贷，这对微弱的复苏来说就是雪上加霜。