وعلاوة على ذلك أصبح من الواضح في عام 2002 أن استجابة الاستثمارات التجارية للتخفيضات في أسعار الفائدة هي استجابة مخفضة، نظرا للتركيز على توحيد الدين والحاجة إلى العمل على التخلص من الطاقات الزائدة.
But such a rebound was not in any case very desirable, as a renewed upswing led by the United States would only postpone the necessary correction of the existing financial imbalances with the concomitant risk of a disruptive outflow of foreign capital and a more severe cyclical downturn later on.3 Moreover, it became clear in 2002 that the responsiveness of business investment to reductions in interest rates is reduced, given the focus on debt consolidation and the need to work off excess capacities.