Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.
Was preparing a more snarky title FT: 'By the way, our metrics sucked'

Here's one reason:

In spite of growth, people were worse off on average, as Stiglitz says:

"Many people looked at US GDP growth in the 2000s and said: `How fast you are growing - we must imitate you.' But it was not sustainable or equitable growth. Even before the crash, most people were worse off than they were in 2000. It was a decade of decline for most Americans."

And of course this was a big part of what caused the crash. Note Jerome's diaries 'The One Graph That Damns the Bush Economy' and 'Blame the Poor'.
by nanne (zwaerdenmaecker@gmail.com) on Wed Jan 28th, 2009 at 08:08:38 AM EST

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