The widening gap between the Labour productivity increase and the consumption preference leads to the excess liquidity that feeds bubbles.

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。

youdao

But a darker view has taken hold as the Labour market started to crack, house price declines have intensified and financial markets deteriorated further until the Fed's latest liquidity operation.

但随着劳动力市场开始出现问题、房价跌幅加大、金融市场状况进一步恶化，直至美联储最近的流动性行动，一种较为悲观的观点已取代了原有观点。

youdao

But a darker view has taken hold as the Labour market started to crack, house price declines have intensified and financial markets deteriorated further until the Fed's latest liquidity operation.

然而随着劳动力市场开始崩溃，房屋价格的下跌剧烈，以及在美联储最新的流动性措施出台后金融市场仍进一步衰退，悲观的观点开始占了上风。

youdao