他说：“私人股本中的过剩流动性激发了前所未有的吸引力。”
“Excess liquidity in private equity has created temptation like there has never been temptation before,” he says.
他说，美联储的措施没有考虑到这种过剩流动性对新兴市场经济体的影响。
The Fed's move doesn't 'take into account the effect of this excessive liquidity on emerging-market economies.
一年前，日本央行宣布通货紧缩结束并完成为期5年的“定量放松”尝试，使市场充满过剩流动性。
A year ago the BoJ declared deflation dead and ended its five-year experiment with "quantitative easing", which involved flooding the market with excess liquidity.
由于在全球经济中的过剩流动性将变的极其巨大，收紧措施有可能导致资产泡沫破灭，引发新一轮全球危机。
As the excess liquidity in the global economy will be gigantic by then, the tightening will probably trigger a global crisis as asset bubbles burst.
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。
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.
由于收入增加部分的高储蓄率，上述两个因素往往会造成流动性过剩。
Both tend to lead to excess liquidity due to a high savings rate on incremental income growth.
中国日益扩大的贸易顺差一直是流动性过剩的主要原因。
China's widening trade surplus has been a major source of excess liquidity.
劳动生产率上升和消费偏好之间日益扩大的差距，会导致流动性过剩，从而催生泡沫。
The widening gap between the Labour productivity increase and the consumption preference leads to the excess liquidity that feeds bubbles.
这一趋势将有利于中国抑制流动性过剩的努力。
This trend will be beneficial to China's efforts to curb excess liquidity.
与此同时，人为地维持较低的人民币汇率，给中国制造了过剩的流动性。
Meantime, maintaining an artificially low value for the renminbi creates excess liquidity in China.
引导货币条件回归常态，其原因是中国出现了资本流动性的严重过剩。
The guidance of the return to normal monetary conditions is warranted because of the excessive surplus in capital liquidity in China.
因此，一旦市场信心恢复，联储局就应该马上抽走过剩的流动性并调高利率。
So once confidence returns, the Fed must act to withdraw excess liquidity and raise interest rates.
并且它们也没有产生严重的流动性过剩，更没有面临另一次金融崩溃。
But nor are they awash with excess liquidity and heading for another financial meltdown.
美联储还计划通过反向回购协议来减少流动性过剩，提供定期债券，从银行体系中抽离现金。
The Fed also plans to use reverse repurchase agreements to reduce excess liquidity. In a reverse repo, the Fed lends securities for a set period, draining cash from the banking system.
欧洲中央银行期望通过流动性支持商业银行走出过剩。
The European Central Bank (ECB) had hoped to make the terms of its liquidity support to banks less generous.
Roubini先生相信亚洲各国央行所谓“清除不良影响”的手段和余地是相当有限的，外汇储备的每一点增长就意味着更加过剩的流动性。
Mr Roubini believes that the room for sterilisation by Asian central Banks is severely limited and so rising reserves mean even greater excess liquidity.
美国上调债务上限后，许多业内人士推测新一轮的量化宽松政策即将出现，这将意味着新兴国家的货币流动性过剩。
After the US lifted its debt ceiling, many speculated that another round of quantitative easing is around the corner, which could mean excess liquidity in emerging countries.
那么，我们目前的全球繁荣是否只是一种周期现象——是可能就要破裂的流动性过剩泡沫造成的结果？
So, is our present global prosperity just a cyclical phenomenon - the consequence of liquidity-inflated bubbles, which may be starting to burst?
一家银行的老板认为，投资银行在2003到06年间所享受的黄金时光是”不正常的”–由过剩的流动性驱使而来，流动性大到足以掩盖诸多的风险过错。
The head of one bank suggests that the golden times enjoyed by investment banks in 2003-06 were an “aberration”, fuelled by a global liquidity glut big enough to hide a multitude of risk-taking sins.
过剩的流动性被股市所吸收而上升，表面上出现了经济增长。
The excess liquidity was soaked up by the stock market, which gave the appearance of economic growth.
当然中央银行也可以出售国债以“清除”巨额外汇储备的影响，解决流动性过剩。
The central bank can try to "sterilise" the impact of bigger reserves by selling securities to mop up the excess liquidity.
流动性过剩已导致资产泡沫再度抬头。
The excess liquidity has led to the resurgence of asset bubbles.
流动性过剩已导致资产泡沫再度抬头。
The excess liquidity has led to the resurgence of asset bubbles.
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