This is exactly what happened in Japan in 90′s due to the pop in real estate bubble and resulting deflation and recession. They can’t get out of it. It’s called the lost decade(s).
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California’s budget crisis is actually much less than they’re spending on the war in Afghanistan. $26 billion for the budget vs $38 billion for war. And what do they get for it? It’s not better to live in California thanks to the war. It’s actually getting much, much worse. [...] We're from the government and the economy IS recovering. It’s tax season now, the season when CPAs work 70 hour weeks. But not this year. Not only do job agencies like Robert Half have no accounting jobs, they tell me companies are laying off accountants now, during tax season. This is unprecedented. This is [...] 10 spicy bits of economic news: 1. Jobless claims rise unexpectedly. The number of Americans filing first-time claims for unemployment insurance climbed unexpectedly last week. There were 473,000 initial jobless claims filed in the week ended Feb. 13, up 31,000 from the previous week’s upwardly revised 442,000, the Labor Department said on Thursday. A [...] Harry Reid stripped down a jobs bill that had bipartisan support because in his cunningness, he thinks this will help passage and ease “voter concerns about federal spending.” The bill was $85 billion. Now it’s $15 billion and excludes provisions for unemployment insurance extension and subsidies for medical insurance. They’ve given trillions to the banksters [...] After a long arduous journey of being half-way there, the Senate finally passed a health care insurance reform bill on Christmas Eve. How is it that throughout the entire health care debate the issue of job creation and economic stimulus has not been brought up? The simple fact is, adding 30 million people into the [...] |  | ||||
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