„Our trading partners in Europe and Japan are stagnant or in peril. Banks in this country are not lending to small businesses and banks elsewhere have huge write-downs to endure. The psychological war between business and the Obama administration also is taking a toll. Business types think the administration is stuffed with clueless professors. Some administration officials think corporate honchos are free-market hypocrites prowling for corporate welfare.
What we have is not just a cycle but a condition. We could look back on the period between 1980 and 2006 as the long boom and the period between 2007 and 2014 or so as the nasty crawl.