因此，让我们讨论一下长期和短期预算赤字问题。

So let's talk about the long and the short of budget deficits.

youdao

收益率曲线的形状（长期和短期利率的不同）也不相同。

The shape of the yield curve (the difference between long- and short-term interest rates) also makes a difference.

youdao

如果不同渠道上的价格不一致，将会产生长期和短期的恶性影响。

Having different rates in different channels leads to long-term, and short-term, bad behavior.

youdao

So, ownership of stocks absolutely crushes buying bonds -almost 16,000 times your money or more than 3,000 times your money in the stock market as opposed to 72 times your money or 19 times your money in the bond market or the bill market.

股票的收益率远远超过债券,小盘股的收益差不多16000倍于本金,而大盘收益也翻了300倍以上,相比长期债券的72倍,和短期债券的19倍

耶鲁公开课 - 金融市场课程节选