Picture du Jour: The lost decade for the US economy
I posted a chart about the decade of zeros in the context of the Dow Jones Industrial Index a few days ago. There are a number of economic statistics conveying the same message. The chart below, courtesy of The Washington Post, illustrates that US job growth expanded at a healthy rate for most of the last 70 years, but stagnated in the first decade of the new millennium as two recessions during this period took its toll. “… gross domestic product, was weak. And household net worth, when adjusted for inflation, fell as stock prices stagnated, home prices declined in the second half of the decade and consumer debt skyrocketed,” said the report in the Post.
Source: The Washington Post, January 1, 2010.
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