How Long Will the Economy Suck?

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You can make a pretty good case that the U.S. economy won’t truly recover until we finish deleveraging from the credit bubble of the aughts. Stuart Staniford takes a quick look at several methods of estimating how long that’s going to take, and comes up with the following: 15-25 years, 13 years, 10+ years, and 10-15 years. “All of these methods have problems,” he acknowledges, “and you can pick your poison. What they all have in common though is this: deleveraging will take at least a decade, and it could easily take 15-20 years. In the meantime, the economy is likely to be pretty choppy at best.”

Anybody got a problem with this? No? Then back to work you slackers.

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DEMOCRACY DOES NOT EXIST...

without free and fair elections, a vigorous free press, and engaged citizens to reclaim power from those who abuse it.

In this election year unlike any other—against a backdrop of a pandemic, an economic crisis, racial reckoning, and so much daily crazy—Mother Jones' journalism is driven by one simple question: Will America will move closer to, or further from, justice and equity in the years to come?

If you're able to, please join us in this mission with a donation today. Our reporting right now is focused on voting rights and election security, corruption, disinformation, racial and gender equity, and the climate crisis. We can’t do it without the support of readers like you, and we need to give it everything we've got between now and November. Thank you.

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