警惕新一轮更为深重的金融危机——美国后危机时代的经济态势分析

Alert to A New and Deeper Financial Crisis——An Analysis of the Economic Situation in the Post-crisis Era of the United States

美国自2007年爆发次贷危机以来,采取了一系列增发货币的刺激政策试图化解其经济危机。虽然美国近年来GDP增长有所改善,但是从其失业率和劳动参工率、M2/GDP、商业银行的负债率和贷存比以及信贷结构等指标来看,其所谓的'经济复苏'实质是'再金融化'导致的一个货币现象。特朗普政府力图利用经济贸易战以摆脱和转嫁国内的危机,又为世界经济的发展带来了极大的冲击和风险。我们要警惕爆发新一轮更为深重的世界性金融危机和美国政府铤而走险。

Since the sub-prime crisis broke out in 2007, the United States has adopted a series of monetary stimulus policies to try to resolve its economic crisis. Although the United States has improved its GDP growth in recent years,its so-called 'economic recovery' is essentially a monetary phenomenon caused by refinance,basing on the indicators such as its unemployment rate and labor participation rate, M2/GDP, the debt ratio and loan to deposit ratio of commercial banks,and the credit structure of commercial banks. The Trump administration has tried to use the economic and trade war to escape and pass on the domestic crisis, which has brought great impact and risk to the development of the world economy. We need to be wary of a new and deeper global financial crisis and America’s desperation.