CAMBRIDGE – The massive downturn in American’s economy will last longer and be more damaging than previous recessions, because it is driven by an unprecedented loss of household wealth. Although the fiscal stimulus package that President Obama recently signed will give a temporary boost to activity sometime this summer, the common forecast that a sustained recovery will begin in the second half of 2009 will almost certainly prove to be overly optimistic.
剑桥——当前美国所面临的经济衰退将比以往任何时期的破坏力都大，持续的时间也更长。原因是本次经济衰退的起因是由于房产资产大幅度意外缩水所造成的。虽然奥巴马总统在近期推出了经济刺激方案，美国经济也许会在今年夏天暂时有所好转，但如果认为09年第二季度经济将会持续好转的话，那就显得过于乐观了。