All three Baltic states are facing double-digit economic declines in GDP this year, following the collapse of credit bubbles created by reckless lending and spending.

不顾后果的借贷和消费导致信用泡沫破碎后，波罗的海三国今年都遭遇了GDP经济总量的双位数下降。

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For the United States, the consumption boom was fueled by bubbles in stocks and housing. This was accompanied by a collapse in the U.S. savings rate.

就美国而言，股市和房地产泡沫给旺盛的消费火上浇油，同时伴随着美国储蓄率的崩溃。

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In Europe, the first round of damage came from the collapse of those real estate bubbles, which devastated employment in the peripheral economies.

在欧洲，第一轮破坏来自房地产泡沫破裂，它摧毁了周边国家的就业市场。

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But microscopic bubbles of gas have a tendency to collapse within a few seconds, and so must be injected close to the site of interest.

ECONOMIST: The ne plus ultra of medicine

Then, in July 1997, the Asian Crisis hit, and everyone looked on in horror as hot money from global hedge funds, fueled by the steroid of high leverage, brought the economies of Thailand, Malaysia and Indonesia to their knees, first creating asset bubbles when it flowed in, and then causing the local currencies to collapse when it was suddenly withdrawn.

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