Lost decade? We've already had one

http://finance.fortune.cnn.com/2011/04/20/lost-decade-weve-already-had-one/

Arnott says the U.S. economy actually went off the rails more than a decade ago. What's more, many of us have failed to realize it because the most widely watched economic indicator, gross domestic product, actually tracks consumption, irresponsible or otherwise, rather than real wealth generation.

It certainly wasn't a "lost generation" for the ultra-rich. They've won big time are are still doing quite well. It's just everyone else who lost and are continuing to lose.

What's meant by a "less ridiculous tax code"? I think it's ridiculous that the biggest companies in this country not only pay zero taxes, they receive money back from the government. Most of the time I see writing like this the person is in favor of more tax breaks for the biggest and more taxes for those who cannot afford it.

"While the solution to that problem surely lies in more responsible policy – lower spending, a less ridiculous tax code -- Arnott says it's imperative we start using more meaningful economic statistics, lest politicians miss the message S&P tried to send this week."

truth wrote:It certainly wasn't a "lost generation" for the ultra-rich. They've won big time are are still doing quite well. It's just everyone else who lost and are continuing to lose.

Exactly