We are in the midst of a deleveraging, we are nearly out of ammunition and we are at each other’s throats. Being in a deleveraging and nearly out of ammunition is a very difficult position to be in. But being at each other’s throats is our biggest problem.
我们正处在一个去杠杆化的世界，我们几乎弹尽粮绝，我们正在互相厮杀。处于一个去杠杆化的世界而且几乎弹尽粮绝是非常艰难的处境。但互相厮杀才是我们的最大问题。
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