One problem in forecasting earnings, he says, is that the Internet and real-estate bubbles pushed corporate profit margins to 7%, above the historical level of 6%.

他说，预测收益时存在的一个问题是，互联网和房地产泡沫将公司利润率推高到7%，超过了6%的历史水平。

youdao

So-called negative real interest rates often encourage savers to shift money into assets such as real-estate, sparking risk of bubbles.

而负的真实利率常常会导致存款者把资金投入房地产，这导致了地产的泡沫风险。

youdao

Japan experienced a huge boom in the prices of both stocks and real estate in the late 1980s, then saw both bubbles burst.

日本于1980年代其股票和房地产价格都曾一度经历了巨幅的增长，接下来是看着这两个泡沫破裂。

youdao

a vision of America where growth is not based on real estate bubbles or overleveraged banks, but on a firm foundation of investments in energy, education and health care that will lead to a real and lasting prosperity,"

VOA: standard.2009.03.21

So, sadly, not a pure and perfect method of identifying real estate bubbles, the heights of the new skyscrapers.

FORBES: Rising Skyscrapers, Not Rising Skirts, Indicate a Recession Coming

This produced a series of bubbles, including sub-prime in the U.S. and real estate bubbles in a range of European countries including the U.K., Spain and Ireland.

FORBES: Five Ways Markets Can Avoid Turning Japanese

Consider that during this 42-year period we had wars, financial and energy crises, technology and real estate bubbles, and of course periods of high market volatility.

FORBES: The Long and the Short of Europe