Willem Buiter, a former professor at the London School of Economics who is now the chief economist of Citigroup, has called gold the subject of “the longest-lasting bubble in human history”.

前伦敦经济学院（London School of Economics）教授Willem Buiter现在是花旗集团的首席经济学家，他曾经将黄金的表现称为“人类历史上持续时间最长的泡沫”。

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But to focus on the bursting of the housing bubble would be to miss the lasting gains that were made.

但是如果仅看到房地产泡沫的破灭就忽略了其它方面有实质意义的增长。

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Both deals are part of the lasting legacy of the housing bubble, which burst spectacularly five years ago and has remained a weight on the biggest U.S. banks since.

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For a bubble to have a genuinely valuable lasting effect, it must do something more than construct useful things wastefully.

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As such, the impact of this particular bubble from a psychological standpoint will likely be much longer lasting.

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