this transition looks like an extended downturn from every thing I see and hear. The world hangs on U.S. spending and we have no new big thing to get job creation going. The Tech / Internet cycle was great. The real estate bubble went from terrific to terrible. What next? Taxes are going up and that will further deteroriate the economy. Stunted growth could go on for many years. The Stagflation of the Seventies and early Eighties at least held the tremendous promise of the baby boom build up to come. Who or What is going to boom now?
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