I read this op-ed this morning. I would say that I agree that things just cannot go back to the way they were before. What we had before was a false economy created by irrational exhuberance and easy credit. For too long readily available credit substituted for decent wages. This is not sustainable and the recent economic turmoil seems to support that. As for the dire predictions for 2009, I don't know that it's going to be that bad or the recovery will take that long. I sure hope not.
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