The problem, Q, is that this was repeating the smae things that occured in the 80s with similar results...

The other problem is that the growth in the economy for the last 8 years has been built upon debt... Now, I fully understand that if I borrow $100K that my new worth does not increase by $100K but that's kinda what we did in the 80s as well as the OOs... We created false growth by borrowing too much to support an industry (housing) that in the end did not leave us with any additional capacity to compete.... Had we borrowed for infastructure, or even for education, we would have at least come out of the end of the pipe better off.... As it turns out, we are worse off... That purdy much makes the 00s economy bogus in the big scheme of things... While others retooled, we partied...

B~