But in the post-crisis downswing, accumulated debts have a powerful depressive effect, because over-leveraged businesses and consumers cut investment and consumption in an attempt to pay down their debts.
Mas no declínio pós-crise, as dívidas acumuladas têm um efeito depressivo poderoso, porque as empresas e os consumidores com excesso de alavancagem cortaram no investimento e no consumo na tentativa de pagarem as suas dívidas.