When the economic tide began to turn in 2006, as US housing prices peaked, few expected more than a gentle slowdown. After a record-long worldwide expansion, policymakers were congratulating themselves on having tamed the business cycle. That “great moderation” now looks more like a grand illusion – or at least a more equivocal victory than once thought.
2006年，当manbetx20客户端下载 潮流随着美国房价见顶而开始逆转的时候，几乎所有人都预期这充其量只是一次温和的减速。世界manbetx20客户端下载 扩张的持续时间之久，已刷新纪录，政策制定者们自我庆幸，认为他们已驯服了商业周期。这种“大缓和”的观点，如今看上去更像一个大错觉，或至少是比人们曾经认为的、更为难以捉摸的胜利。
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