If they perceive improvements in their terms of trade as permanent – a view that gains traction as prices climb – increases in consumption and investment tend to outpace income gains, and public and private leverage grows.
Se considerarem que as melhorias efectuadas nos seus termos de troca são permanentes (uma perspectiva que adquire força à medida que os preços sobem), o aumento do consumo e do investimento tende a superar os rendimentos e a alavancagem pública e privada aumenta.