来自《耶鲁大学开放课程：资本主义：成功、危机与改革 第10集 第10集》
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there's a market contagion that prices can't fall down,由于市场感染 所有价格都不会下跌 -
they can just go upwards,只会盲目地上涨 -
so people in general just start taking more risks这样普通百姓就开始要冒更大的险 -
and financial institutions which grant these subprime loans批准这些次贷的金融机构 -
also become overly optimistic.也变得过于乐观 -
They all feel that prices have to go up, and they feel他们都认为价格一定会持续上涨 -
that the real value of houses have increased, and that is--还认为房子真正的价格也增加了 -
That sounds like irrational exuberance.听起来像是非理性繁荣 -
Okay. It's easy to say that they're irrational.认为他们是非理性的比较合乎逻辑 -
It's harder to say that they're rational.很难说他们是理性的 -
It would be nice to know if--我很高兴知道这些 -
first of all Bob Shiller is a good friend of mine,首先我要说鲍勃·希勒和我是好朋友