is that you can borrow debt for long periods of time.

你可以长期贷款
This looked to be a very low-risk, rapidly growing situation,

看上去低风险高成长的形势下
where we were hopeful we were going to make four to five times our money

我们满心希望以为可以赚到4到5倍的钱
There was only one problem that--Argentina the country collapsed.

问题出现了阿根廷经济崩溃了
I mean, literally collapsed.

真的崩溃了
The linkage, which is called a peg to the dollar,

所谓的联动汇率与美元的挂钩
turned out to be a most unfortunate thing and the emerging markets--

成为了新兴市场最不幸的一件事
this is when you started with the Russian financial crisis

在俄罗斯金融危机和这次危机后
and this crisis.

其他危机接踵而至
Then you had an Asian financial crisis;

之后出现了亚洲金融危机
it rolled through the whole world with currencies

危机席卷全球
rapidly changing their values--

货币价值在飞快的变化着