Asset bubbles can be more insidious than traditional product inflation, because they seem to be a sign of health: higher values lift the real economy, which in turn can send the bubbles higher.

• 相对于传统产品通胀，资产泡沫可能危险性更大，因为从表面看，它们是健康的信号：价值提升会拉动实体经济，进而将泡沫吹得更大。