Right now we're in a liquidity trap, which, as I explained in an earlier post, means that we have an incipient excess supply of savings even at a zero interest rate.

现在我们陷入了一个流动性陷阱(在我此前的一篇文章中解释过)，意味着我们即使在零利率的时候，也将会遇到初始就过剩的储蓄。

youdao

That's not a bug, it's a feature; it says that when you're in a liquidity trap, thinking in terms of the supply and demand for money is just not a helpful way to approach the issues.

说明了当你处于流动性陷阱中时，仅仅思考货币的供给和需求并不能是个有效地方式去理解这种困境。

youdao

He is wrong, however, to assume that this is evidence of a "liquidity trap" in the US financial system.

然而，他的错误在于他认为这是美国金融体系中存在流动性陷阱的证据。

youdao

One hallmark of a liquidity trap is the creation of scrip.

FORBES: Anatomy of an Economic Meltdown

Washington politicians are pointing the U.S. economy straight into a liquidity trap and instead of a bright economic future, the U.S. is looking at years of high unemployment, weak GDP growth and the possibility of widespread deflation.

FORBES: Goodbye Recovery, Hello Recession

In fact, I view his General Theory as a guide for getting out of a recession or liquidity trap.

FORBES: Supply Side Employment Growth