The net impact of the financial crisis has been a lost decade — not just for the US, but for much of Europe as well:
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Source:
Rolling back the years
The Economist online Feb 23rd 2012, 14:35
http://www.economist.com/blogs/graphicdetail/2012/02/daily-chart-15
Category: Bailouts, Digital Media, Economy, Really, really bad calls
Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.
I guess in Greece they will be partying like its 1999, because two thousand zero zero party over, oops ,out time.
Luckily we have record local, state, federal and consumer debt to show for it!
Boy are people going to be surprised/hurt when the credit bubble really does collapse.
Then why does a decent house in Westchester still cost what it did in ’06?
All brought to us via the power of lobby money of Citigroups bribe influence in eliminating Glass-Steagal in 1999.
It baffles me hearing any political leader rant on about further deregulation for their corporate masters.
It’s simple, deregulate the small businesses that create jobs (but can’t afford to bribe), re-regulate & tax the big monopolies who decimate jobs and fleece entire civilizations.
unbelievable
the average PIIG unemployment 16%
the idea of debtor austerity ought to be-and used to be the aim under 1980s 90s reschedulings–
creditors squeeze debtors to consume less, service debt more
while holding up output and employment– among more noble reasons– to keep the debt service up
beyond that max debt service
the lender screwed up and takes the hit.
this is a 1930s solution-you can say much of Greeks are profligate wastrels
scamming creditors if you like
i will
but they are dying from lack of medical attention
PIIG unemployment 16%
AND rising rapidly
It will be over 20% maybe 25% before the year is out