It is, of course, true that real long-term interest rates have declined quite markedly – not suddenly and not only recently, but at a fairly steady pace for more than twenty years. According to the IMF, world real long-term interest rates peaked at nearly 7% on average in 1984, and fell to just below 2% by 2004.
当然，不可否认的是，实际长期利率已经显著降低—这种变化不是突如其来，也不是最近才有，而是在过去的二十多年里以一种较为平稳的速度发生的。根据国际货币基金组织（IMF）的说法，世界实际长期利率在1984年达到顶点，平均为7%，而到了2004年则降低到2%以下。在此期间利率有所起伏，但总体上呈下降趋势，且下降的幅度—近5个百分点—是惊人的。