Spain's consumption boom and ballooning current-account deficit continued unchecked because foreign lenders faced less currency risk.

西班牙的消费繁荣与膨胀的经常项目赤字得以毫无节制地持续下来，正是因为海外债权人的汇率风险减小了。

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But economists worried that as America's consumption boom took it deeper into hock, foreigners would become less willing to lend to it.

然而，经济人士担心随着美国消费激增导致透支过度，外国可能就没那么愿意向美国出借了。

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For the United States, the consumption boom was fueled by bubbles in stocks and housing. This was accompanied by a collapse in the U.S. savings rate.

就美国而言，股市和房地产泡沫给旺盛的消费火上浇油，同时伴随着美国储蓄率的崩溃。

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And the best way to rein in the consumption boom is to tighten fiscal policy.

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America's economy is relying ever more heavily on a stockmarket-fuelled consumption boom, and the stockmarket itself has reached ever more surreal heights.

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Since it is exports that have fuelled the consumption boom, and since electronic goods have been a crucial component of exports, the economy looks increasingly vulnerable.

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