At worst, the economy might succumb to debt-deflation.
在最糟糕的情况下，经济可能陷入债务通缩的局面。
But inflation is not a cheap solution to high public debt and the debt-deflation problems of the private sector.
不过，对于高公债和私人部门的债务紧缩问题，通货膨胀却并非一个廉价的解决方案。
From the Fisher's debt-deflation theory to Minsky's finance unstable hypothesis, the theories explained financial crisis in varying degrees.
从费雪的负债-通货紧缩理论，到明斯基的金融不稳定假说，都在不同程度上使泡沫经济与金融危机获得了解释。
The economy began growing properly again only 12 years later, and only in 2005 could Japan say it had put financial stress and debt-deflation behind it.
12年后，日本经济才有复苏迹象。直到2005年，日本才终于可以说是摆脱了财政压力和债务紧缩。
If the BoJ has a plan to boost economic growth and exorcise deflation while avoiding a debt panic, it is clearly not yet ready to share it.
如果日本央行有一个刺激经济增长、驱除通缩的同时，避免债务恐慌的计划，那么它显然还没有准备好分享这个计划。
Deflation can be avoided through debt and money printing.
通过举债和印制钞票可以防止通缩。
The effect of deflation in reducing aggregate demand, known as debt deflation, probably played a significant role in the Great Depression.
通缩于降低总需求上的效应叫做债务紧缩，在大萧条时期它可能扮演了重要的角色。
Fisher argued that borrowers, who lose from deflation, are typically short of cash and will be forced to cut their spending sharply when their debt burden rises.
费雪强调因通缩而蒙受损失的借款人缺的主要是现金，一旦债务负担上升则将迫使他们急剧地削减开支。
Deflation, on the other hand, increases debt, and feels like being smothered by a lead blanket.
通缩则相反，它会加重债务负担，感觉就像盖着灌了铅的被子一般透不过气来。
The finance ministry blames the bank of Japan for failing to tackle deflation. The central bank blames lax fiscal policy for the country's debt.
财务大臣谴责日本银行未能解决通货紧缩，而央行则怪罪针对国家负债的宽松财政政策。
The way to get there, then, is to raise inflation, which obviously addresses the debt deflation concerns.
那么，方法是提高通货膨胀，这显然解决了债务紧缩问题。
Today, though, deflation is more likely to resemble the malign 1930s sort than that earlier benign variety, because demand is weak and households and firms are burdened by debt.
但是现在由于需求疲软，家庭和公司面临巨大的负债压力，这次价格下跌更接近于1930年代的恶性通货紧缩，而不是更早期的良性通货膨胀。
So Fannie and Freddie had to be rescued - otherwise debt deflation would have gotten much worse.
因此，两房必须被拯救，否则债务紧缩将会愈演愈烈。
Deflation drives up real debt burdens, further sapping consumer spending.
通货紧缩提高实际债务负担，进一步削弱消费者的支出能力。
These include deflation, huge public debt, ugly demographics and a glaring lack of decisiveness among policymakers about how to deal with them.
这包括了通缩、巨额预算赤字、人口严重老龄化和在政策制定者中缺少解决这些问题的决策。
With the largest amount of debt relative to the size of its economy among the rich countries, and a stubborn deflation problem to boot, Japan has an economic time-bomb ticking beneath it.
相对于经济总量来看，日本的债务规模是发达国家中最大的。另外，它还面临着顽固的通缩难题。
Many people worried that the overhang of debt, and the depressed state of the economy, would cause a prolonged period of deflation, as experienced by Japan over the past two decades.
许多人担忧，背负着高额债务并且经济状况不景气，这些会引发长期的通货紧缩，如同日本在过去20多年所经历的状况一般。
Recession and, worse, deflation, would exacerbate the debt ratio.
经济衰退以及更加糟糕的通货紧缩会加剧这一比例的恶化。
From then on, some believe, demography will seriously aggravate Japan's other d-words-debt, deficits and deflation.
一些人认为，自那以后日本的人口问题将使其债务、赤字和通货紧缩问题变得更加严重(可以根据英文首字母将其称为3d问题)。
But there is no universal prescription: each central bank must weigh the local risks that inflation will persist against the threat of deflation from overhanging debt and fragile Banks.
但是没有通用的处方：每个央行必须权衡自己当地的风险，与未偿债务和脆弱的银行引发的衰退相比通货膨胀将是持续的。
Japan's true weaknesses have been debt and deflation.
日本的真正缺陷是高额债务和通货紧缩。
Japan lost its AAA rating in 2009 because of a world-leading debt burden. But because of deflation, its bond yields remain at rock-bottom levels.
日本在2009年因为较高的债务负担而失去其AAA评级，但是因为通缩，它的债券收益率仍维持在谷底水平。
If deflation took hold, the gap in demand left by those fleeing debt would not be filled by cash-rich consumers, who tend to be less free-spending.
如果通缩继续下去，手头现金宽裕的消费者是弥补不了由偿债而引起的需求缺口的，原因是这些消费者一般不会大手大脚。
Some argue that this combination of deflation-sapped growth and high debt makes Japan next in line for a Greek-style debt crisis.
一些人认为通货紧缩的微弱增长和高负债的组合会使日本陷入希腊式债务危机。
Some argue that this combination of deflation-sapped growth and high debt makes Japan next in line for a Greek-style debt crisis.
一些人认为通货紧缩的微弱增长和高负债的组合会使日本陷入希腊式债务危机。
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