It’s always darkest before the dawn?

The US economy remains almost comatose. The slump already ranks as the longest period of sustained weakness since the Depression. The economy is staggering under many “structural” burdens, as opposed to familiar “cyclical” problems. The structural faults represent once-in-a-lifetime dislocations that will take years to work out. Among them: the job drought; the debt hangover; the banking collapse; the real estate depression; the health care cost explosion and the runaway federal deficit.

Does that sound about right? Did Time Magazine manage to cover all the bases? Or did it leave something out?

The thing is, this quote is from the September 1992 issue. Interesting but maybe similar compared to their September 2010 issue.

What happened next? The U.S. economy boomed for 16 years, without a single down year, until 2008.

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