What the current crisis does underline, however, is that a cyclical downturn associated with a collapse of the banking system is by an order of magnitude worse than a normal cyclical downturn.

• 不过，当前危机所突出表明的，是伴随银行体系崩溃的周期性衰退，在数量级上要比正常的周期性衰退更为严重。