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January 4, 2010
Paul Krugman - That 1937 Feeling
By Sheila Samples
During the good years of the last decade, such as they were, growth was driven by a housing boom and a consumer spending surge. Neither is coming back. There can't be a new housing boom while the nation is still strewn with vacant houses and apartments left behind by the previous boom, and consumers are $11 trillion poorer than they were before the housing bust.
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During the good years of the last decade, such as they were, growth was driven by a housing boom and a consumer spending surge. Neither is coming back. There can't be a new housing boom while the nation is still strewn with vacant houses and apartments left behind by the previous boom, and consumers are $11 trillion poorer than they were before the housing bust.Sheila Samples is an Oklahoma writer and a former civilian US Army Public Information Officer. She is a Managing Editor for OpEd News, and a regular contributor for a variety of Internet sites.