You’ve been doing a lot of work. You’ve been busy with these five forces that have been shaping the global economy just to quickly go through the money and debt, internal order and order, power, conflict, acts of nature and technology. I want to start on that first one, though. It’s a point that you’ve made globally. But here in the us, 5 trillion in revenue. Are we already passed the point of no return, that the fact we have this dynamic means that some sort of crisis is inevitable? Yes, we’re past the point of no return. Meaning when debt service payments squeeze out, spending like plaque in the circulatory squeezes out the flow of money, the flow of blood, it’s the same kind of thing could be measured. So we’re seeing that happen. And then there’s a supply and a demand issue. The supply of one budget deficit means that debt has to be sold and you have a supply demand issue. And we could see it happening in the bond market and we could see that bonds have been a bad investment and that there’s pressure and interest rates and there’s borrowing. And that’s one of the five factors, as you’re saying. But that dynamic is happening. People are treating it like if it hasn’t happened before, they don’t understand that like plaque in the arteries that it builds up and they have that exposure.
你做了大量的工作。你一直在忙于研究塑造全球经济的这五股力量——简要来说就是：货币与债务、内部秩序、权力、冲突、自然之力以及科技。不过，我想先从第一点说起。这是你在全球范围内反复提出的一个观点。但在美国这里，支出高达7万亿美元，而收入却只有5万亿美元。我们是否已经越过了不可逆转的临界点？我们拥有这样的动态，是否意味着某种危机不可避免？是的，我们已经越过了不可逆转的临界点。意思是，当债务偿还支出被挤压出来时，就像循环系统中的斑块挤压血液流动一样，这种效应是可以被量化的。所以我们正在目睹这种情况发生。此外，还有一个供需问题。预算赤字的供给意味着必须出售债务，于是你就面临供需矛盾。我们可以在债券市场上看到这种情况，可以看到债券一直是糟糕的投资，可以看到利率和借贷方面存在压力。正如你所说，这是五大因素之一。但这种动态正在发生。人们却好像把它当作从未发生过的事情来对待，他们没有理解到，这就像动脉中的斑块一样会不断累积，而他们正暴露在这样的风险之中。