The Economy’s Lost Decade

To hell with Japan, we have already had our lost decade — or at least so says the Washington Post. And, it was more than just the stock market that lost ground over the past 10 years:

• Job growth was essentially zero;
• Economic output (GDP) was weak.
• Household net worth (inflation adjusted) fell as stock prices stagnated;
• Home prices declined in the second half of the decade
• Consumer debt skyrocketed.

Here is how the 2000’s compared with a few other decades:

click for larger graphic

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Source:
The lost decade for the economy
NEIL IRWIN, CRISTINA RIVERO AND TODD LINDEMAN
Washington Post, January 1, 2010
http://www.washingtonpost.com/wp-dyn/content/graphic/2010/01/01/GR2010010101478.html

Aughts were a lost decade for U.S. economy, workers
Neil Irwin
Washington Post, January 2, 2010
http://www.washingtonpost.com/wp-dyn/content/article/2010/01/01/AR2010010101196.html

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