"Americans addiction to money. Their addiction to debt. Have got them where they are.."
As the recession grinds on, more and more of the nation's means of production -- its workers, its factories, its retail outlets, its freight lines, its bank lending, even its new inventions -- are being mothballed.
The mathematics are daunting. The shortfall is running at more than $1 trillion in annual sales and other transactions.
Only once since the Great Depression has there been such a severe loss of output -- in the 1981-82 recession -- and after that downturn, it was seven years before the economy regained the lost production..
Source: http://finance.yahoo.com
