http://blogs.dailymail.com/donsurber/archives/25920 A "lost decade" in the US is seeming more and more likely. But for your viewing pleasure, since all we seem to care about are Bread and Circuses... http://www.youtube.com/watch?v=gEmJ-VWPDM4
Pretty crazy they had a good ADP report but shitty jobs report. I guess that's what happens when you artificially prop up the job market with imaginary jobs.
Not paying attention again? 2000-2001 was a lost decade for the US. A president installed through a fraudulent election immediately starts a bogus terrorism threat to justify a war on personal freedom...er...terror and after murdering a quarter of a million people and giving us a whole new generation of PTS cases to deal with somehow alienates the entire world against us while turning the largest surplus in history into the largest deficit in history, destroying the best economy we've had in a century. Close to a third of all Americans have lost their life savings in the last 3 years. The foreclosures will continue at record pace for years. Most definitely a lost decade. I can't really think of any notable accomplishment by our country in those 10 years.
I disagree. I don't see that we went through any period of denying the severity of the problems. The time between when the bubble burst and when the government took significant actions was weeks in the USA, not years as it was in Japan. barfo
Barney Frank denied we had a mortgage problem in back in 2004, 2005 and 2006. We've been living in denial about our debt issues for longer than that.
I think the article was talking about denying the problems after the bubble burst, not beforehand. Obviously any two bubbles are comparable in that people denied that they were bubbles before they burst - otherwise they wouldn't have been bubbles. barfo
I would say the bubble peaked in 2006, started to deflate rapidly in 2007, and the most significant bursting (i.e. rapidly falling prices) was 2008-2009. barfo
Bubble burst in 2007, but you didn't see it big-time until 2008. There were signs in 2007 - that housing development that seemed to take forever to get finished... where the contractors were only working like one day a week. Or the For Lease signs that stayed up so fricking long at the refurbished minimall where only that one Papa Murphy's still lives. All of this in 2007 pointed to big troubles getting capital and getting loans, but you didn't see the big huge national OMFGWTF moments until 2008. Read The Big Short; fantastic book about the inner workings of the bubble.
