The '70s were a terrible time to invest in stocks, a bull market had started in 1982.

0年代股票投资一直萎靡不振,牛市在1982年才露端倪

耶鲁公开课 - 金融市场课程节选

But then the U.S. crashed into a huge well actually it was as worldwide recession of 1981-2.This was the biggest recession since The Great Depression.

但是之后，美国卷进了一个巨大的,事实上，是个世界范围内的经济衰退,于1981-1982年，这是自从大萧条以来,最严重的一次经济衰退。

耶鲁公开课 - 金融市场课程节选

Big recessions have ended in November 1982, just a little more than 25 years ago, and since then the policy of getting inflation down And it's also not just the United States.

较严重的在1982年11月已触底回升，也就是25年前不久，从那开始，政策就一直维持了低通胀,不仅仅是美国。

斯坦福公开课 - 经济学课程节选