patrick.net

Many experts say private debt owed by households, as well as businesses, is an even bigger problem than the government debt that's getting so much attention lately. And it won't be solved without a difficult stretch of high unemployment and slow growth that will likely last for six or seven more years, producing America's own version of Japan's "Lost Decade."

Ours is not somewhat aligned with a decade boundary like the Japanese one was. Are we even over the hump yet? Considering our efforts to drag this thing out and maximize pain on the peasants though, let's just round it off to 2020. "Lost 1.5 Decades" just doesn't roll of the tongue though.

CNN: America's own Lost Decade