Thursday, Jul 15, 2010
Try lost century
Cnn: Lost decade: The new threat to the U.S. economy
Now some economists are starting to talk about an even worse fate: a prolonged period of very weak growth, a so-called "lost decade."
"The probability of a lost decade is significantly greater than a double dip," said Sung Won Sohn, economics professor at Cal State University Channel Islands.
The most famous lost decade occurred in Japan in the 1990s. From 1992 through 1999, the Japanese economy grew by less than 1% a year. It has yet to fully recover from the economic weakness and falling prices it suffered during that period.
Posted by mark @ 12:54 PM (418 views) Add Comment
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