Here is the price-earnings ratio for the U.S. stock market from 1881 to the present-- this is also on that spreadsheet that you have on the website.
这是美国股票市场的市盈率,从1881年至今,这份数据也在网站上的电子数据表上
and the first you are going to be reading will be a chapter in a book I wrote 5 or 6 years ago I guess it's almost 6 years now since 1998 to came up.
首先你们要读的,是我5年或6年前写的一章,我想应该是至今6年了,从1998年算的话。
And now maybe...now I've just heard that maybe one of those two recessions wasn't even a classic recession at all So the question is 1890 to 1945 on the one hand, 1983 to the present on the other, does that tell us that ? we've gotten better at government interventions?
那么现在也许。。。就你们刚才所说,其中一次所谓的衰退也许,根本不能算是典型的经济衰退了,那么问题在于,从1890年到1945年,以及1983年至今的经济状况,是否说明,政府对经济的干预是有利的?
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