This is the paradoxical result of the policy response to the financial crisis. Macro liquidity is feeding booms and bubbles; but market illiquidity will eventually trigger a bust and collapse.
这是对金融危机的政策响应带来的矛盾结果。宏观流动性孕育了繁荣和泡沫，但市场无流动性最终将导致泡沫破裂和崩溃。