First, consumers, faced with tighter credit and falling house values, will need to cut spending, slowing the US economy and affecting all countries via world trade. Second, with banks losing substantial amounts of equity capital – estimates now reach $300 billion and more – the need to maintain minimum equity-debt ratios will force them to curtail business lending, hindering investment demand.
这一资产破灭就是可能到来的衰退的原因。首先，消费者面临银根紧缩和房价下降就会不得不减少开支，从而减缓美国经济并且通过世界贸易影响所有国家。第二，银行的资产资本损失惨重，估计达到三千亿美元或者更多。为了维持资本负债率，它们被迫限制企业借贷，从而阻碍投资需求。