For the bears, low rates are a sign of the desperation of central bankers, and an indication that economic growth will be subdued for some time to come. They predict Japanese-style stagnation.
2
只须想想多年来导致金价飙升的种种经济背景：滞涨、金融恐慌、疯狂投机，以及货币贬值。
Just consider the diverse economic backdrops that have caused its price to spike over the years: stagflation, financial panic, speculative mania and currency debasement.
3
随着今年经济下滑2-2.5%以及物价上涨超过40%，他们预期会产生滞涨。
They expect stagflation, with the economy contracting by 2-2.5% this year and prices rising by more than 40%.
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