Let us recall that in the other great bear market of the past century, in the mid-1970s, the peak in today's adjusted terms was only about 7,700.
让我们回想一下，在上世纪70年代中期的另一场大熊市期间，在调整后的基础上，峰值水平只相当于目前的7700点左右。
It is beginning to look as if we are in the middle of another of those great phases, what commentators call a secular, as opposed to a cyclical, bear market.
现在的境况开始让人觉得我们似乎处在又一个重大的历史阶段之中，相对于周期性的熊市，评论家们把这个阶段称为长期性熊市。
It is beginning to look as if we are in the middle of another of those great phases, what commentators call a secular, as opposed to a cyclical, bear market.
现在的境况开始让人觉得我们似乎处在又一个重大的历史阶段之中，相对于周期性的熊市，评论家们把这个阶段称为长期性熊市。
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