来自《耶鲁大学开放课程：金融市场第16集第16集》

That's what happened in '81-82,

这就是1981-1982年的危机
but you have to remember that times are different.

但你们要记住时代不同了
Subsequent recessions were not like that.

此后的衰退已经不再像从前那样
We had another recession

1990-91年再次发生衰退
in 1990-91 and it wasn't very big or bad.

但并不是特别严重
This recession was, I think, just a Gulf War recession.

我认为这次经济衰退仅是海湾战争引发的衰退
It was caused by, well partly by,

当然也有一部分原因
an oil price spike caused by the Saddam

是萨达姆引发的油价飞涨
--the war against Saddam Hussein.

这场反对萨达姆·侯赛因的战争
It was also caused by just a general lack of confidence.

另外一个原因是大众失去了信心
It wasn't caused by

这是由于
the Fed's sudden tightening against inflation.

美联储突然采取紧缩政策来应对通胀