But the real puzzle here was not the existence of these two bubbles but the fact that the first burst with minor consequences while the second provoked a financial bloodbath.
但真正的谜题，并不在于这两个泡沫存在与否，而是为何第一个泡沫破灭时影响甚微，而第二个泡沫破灭时金融业血流成河。
Perfectionism is an illusion, but the pursuit of it is real and can have damaging consequences.
完美主义是一种错觉，但追求完美是真实的，而且会产生破坏性的结果。
But if such a debacle is not to occur again, a disaster of this magnitude requires deeper reflection and real consequences.
不过，要想避免重蹈覆辙，这样规模的灾难应当带来更深刻的反思与真正的后果。
In retrospect the momentary collapse may seem like a bad dream but it was real enough and two years later we still suffer from its consequences.
现在回想起来瞬间崩溃可能看起来像是一场噩梦但它是真实的两年后我们仍然遭受其后果。
"I'm not saying PTSD is not real and that it doesn't have health consequences. But much more study is needed," he says.
“我不是说PTSD不是真的，或者说它没有影响健康方面的结果。这还需要更多的进一步研究。”他说。
But one thing I would caution is to not treat competitions lightly. Try to approach it as if it is a real project that it's got real-life issues and consequences.
但是有一件事情我想提醒学生们的是：不要对竞赛掉以轻心，尽量把竞赛当做是一个真实的项目，具备现实生活中的种种问题和后果。
Excessive wage increases could create additional cost pressures, with potential consequences not only for prices but also for competitiveness, real GDP growth and employment creation in the euro area.
工资增长过快可能对成本造成了压力，可能因此受到不利影响的不仅仅是价格，还包括竞争力、实际GDP增长率，各国创造更多就业机会的努力也有可能受挫于此。
But we should know that the bursting of the bond market bubble will have even more dire consequences than the bursting of prior bubbles in stocks and real estate.
我们必须明白当前国债泡沫的严重程度已远远超出之前的股票与房地产市场。
But we should know that the bursting of the bond market bubble will have even more dire consequences than the bursting of prior bubbles in stocks and real estate.
我们必须明白当前国债泡沫的严重程度已远远超出之前的股票与房地产市场。
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