https://blog.alansun.host/tags/%E5%80%BA%E5%8A%A1%E5%91%A8%E6%9C%9F/Recent content in 债务周期 on 没用知识库Hugo -- gohugo.iozh-cnalansundy@gmail.com (羊羊羊)alansundy@gmail.com (羊羊羊)© 2026 羊羊羊Sun, 18 Oct 2026 00:00:00 +0000https://blog.alansun.host/posts/20261018_%E5%9B%BD%E5%AE%B6%E9%9C%80%E8%A6%81%E4%BD%A0%E8%B4%B7%E6%AC%BE%E6%9D%A5%E5%85%BB%E5%AE%83%E4%BA%86/Sun, 18 Oct 2026 00:00:00 +0000alansundy@gmail.com (羊羊羊)https://blog.alansun.host/posts/20261018_%E5%9B%BD%E5%AE%B6%E9%9C%80%E8%A6%81%E4%BD%A0%E8%B4%B7%E6%AC%BE%E6%9D%A5%E5%85%BB%E5%AE%83%E4%BA%86/梳理 2008 年以来债务承担主体从地方城投、购房家庭、国有金融体系向普通个人依次外移的四个阶段，剖析“社保贷”现象、家庭提前还贷潮与信用收缩下的经济传导机制。