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1·To be sure, Grantham up until now hasn't been a die-hard inflationist.

当然，格兰汉姆从来就不曾是一个死硬的通货膨胀主义者。

2·The second scenario is just the opposite of the first one, but equally tragic: it consists of an inflationist cure so intense that a new bubble is created.

第二种情况正好与第一种相反，但同样是悲剧：它包含一剂强烈的“通胀疗法”，以至于创造出一个新的泡沫。

3·They can either allow the recessionary process to follow its course, and with it the healthy and painful readjustment, or they can escape forward toward a renewed inflationist cure.

要么放任萧条的过程进行到底，忍受健康而痛苦的调整；要么采用“延续的通胀” 疗法往后推延以图逃避当前。