Families vastly overborrowed in recent years , and now they are retrenching .
近年来，很多家庭都超额借贷，而现在他们都在紧缩开支了。
Even goldman sachs , wall street 's most profitable firm , is retrenching .
甚至高盛投资银行，华尔街最能盈利的公司，也在紧缩开支。
Companies are retrenching not expanding , and workers fear for their jobs .
企业在缩减开支，而非进行扩张，工人们担心自己的饭碗。
Bnp paribas 's recent history is not about being brilliantly contrarian-expanding in downturns and retrenching in booms .
巴黎银行最近的历史并不是关于其出色的逆向投资----即在萧条时扩张而在繁荣中紧缩。
These figures might sound pretty modest , but with the government busy retrenching and consumers still digging themselves out of debt , they hinge on an upturn in exports and business investment that seems unlikely to materialize .
