Saturday, September 11, 2010

Saturday Reminder: The More Things Change...

"The U.S. economy remains almost comatose . . . The current slump already ranks as the longest period of sustained weakness since the Great Depression . . . Once-in-a-lifetime dislocations . . .will take years to work out. Among them: the job drought, the debt hangover, the defense-industry contraction, the banking collapse, the real-estate depression, the health-care cost explosion, and the runaway federal deficit."

The article then discloses that was Time magazine's analysis of the economy in its September, 1992 issue, when the Dow was at 3,390, and the economy was still struggling to pull out of the 1991 recession.

Read the whole article from Sy Harding.

Excellent reminder that the economic cycle has not been repealed.

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