As a Boom, It Kind of Sucked

Matt Yglesias links to a Powerpoint that has several depressing slides. These are two particular downers:





I don't know what happened to the last slide, but you certainly get the idea. Our first economic boom of the 20th century provided us with almost no wage growth, but an astounding amount of debt. That is why Phil Gramm's stupid statements during the election probably did as much to discredit John McCain as Sarah (the gift that keeps on giving) Palin ever did.