The U.S. economy has endured equally long stretches of poor performance in the past. For example, the Dow Jones Industrial Average was actually lower in 1982 as it was in 1966—16 years stuck in neutral. Real median household income was lower in 1983 than it was in 1969—14 years of no net gains. Yet the economy recovered and scaled new heights.
The recent \”lost decade\” has happened before. It\’s just that this time as a quirk of timing it happened to be 99 to 09….thus enabling people to say \”lost decade\”.