Indeed, the main question for 2007 is whether macroeconomic volatility will continue to decline, fueling another spectacular year for markets and housing, or start to rise again, perhaps due to growing geopolitical tensions. I lean slightly toward the optimistic scenario, but investors and policymakers alike need to understand the ramifications of a return to more normal volatility levels.
确实，2007年的主要问题就是宏观经济波动是否将会继续下降，进而引发对市场和房地产的又一个投机年份，还是可能出于不断增长的地缘政治中的紧张局势而开始再次上升。我表示谨慎乐观，但是投资者以及决策者需要理解回复到更为正常的波动水平所带来的后果。