We're a couple of years into the recession. Okay, officially, we're out of it with some economic growth. For us on Main Street, the recession is ongoing. The job market is weak and the Feds are a bit worried that we might slip back into more economic contraction.
So, the worry how is that the United States might slip into a "Lost Decade" much like what Japan went through in the 90s.
Will we? And at what point will we are we officially in it?
The WSJ has a good post on what happened to Japan and what they went through provides us with a good lesson on how to avoid it. However, with the country so polarized, GOP and Democrats rather play poltics than work for the national economic interests, and a general feeling that the US has lost its edge, things cannot be looking good.
At least not from where I'm standing.
However, I have to confess that economic policies might stave off a worse economic calamity, it will be up to the American ingenuity and can-do spirit that will bring the US back from this slumber.
For now, I think the public is a bit tired. Tired of Washington, broken promises, and just a general breakdown in trust.
But it's okay. We'll be back. We always do. Each time, stronger than the last.
More at Yahoo (WSJ).