The net impact of the financial crisis has been a lost decade — not just for the US, but for much of Europe as well:



Rolling back the years
The Economist online Feb 23rd 2012, 14:35

Category: Bailouts, Digital Media, Economy, Really, really bad calls

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6 Responses to “Lost Decade And Counting . . .”

  1. DSS10 says:

    I guess in Greece they will be partying like its 1999, because two thousand zero zero party over, oops ,out time.

  2. MayorQuimby says:

    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.

  3. BennyProfane says:

    Then why does a decent house in Westchester still cost what it did in ’06?

  4. Frilton Miedman says:

    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.

  5. AHodge says:

    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

  6. AHodge says:

    PIIG unemployment 16%
    AND rising rapidly
    It will be over 20% maybe 25% before the year is out