The 00 Decade

Here’s a good summary for this decade:

 

Bottom line, difference between 1999 and 2009:

 

1.        Dow was and is  10,000

2.       Houses are worth less-in many places drastically less

3.       Basically 0 increase in job creation—the first decade in history private sector employment actually declined.

4.       By 2007 household income was flat, and it’s only gone downhill since then.

5.       Republicans want to fix everything by lower taxes and reducing regulations, which they just finished doing for 9 years last year,  the democrats are too wimpy or too dumb to come up with any strong ideas on what to do going forward. 

6.       In general, an observable un-ability to learn from our mistakes, so the 00’s decade =zero

 

From:  “The Big Zero”  by Paul Krugman, December 27, 2009

 

http://www.nytimes.com/2009/12/28/opinion/28krugman.html?_r=1