It is not that the world economy faces a liquidity squeeze. Far from it: two-year United States Treasury notes with a face value of $1,000 will get you $998 in cash – the lowest liquidity price since the Great Depression and Japan in the 1990’s.
不是世界经济面临着流动性紧张。实际情况远不是这样：面值一千美元的两年期美国国债现在只能变现998美元——这是自大萧条和20世纪90年代日本危机以来最低的流动性定价。