Word: 2000s
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...Blanchard, Olivier J., and Jordi Gali (2007). "The Macroeconomic Effects of Oil Shocks: Why Are the 2000s So Different from the 1970s?" Leaving the Board NBER Working Paper 13368. Cambridge, Mass.: National Bureau of Economic Research, September...
...seen a bit more evidence of this in the 2000s, but it can't go on forever. There comes a point at which government debts grow so large that they start to weigh on the economy, through higher interest rates, bigger debt payments, a weaker currency, etc. Reagan and George W. Bush had the advantage of starting out with a relatively small debt as a percentage of GDP. The next President won't be quite so lucky...
...managed to scrape together enough nickels to take in escapist fare like Marx Brothers comedies and monster flicks. Box office grosses rose during five of the last seven economic downturns in the U.S. - including the '70s oil crisis and the burst of the dot-com bubble in the early 2000s. It's not just a ticket price bump that accounts for the extra dough, either - the total number of movies people see in a year tends to rise in recessionary periods...
Just recently, this quiet, agricultural town of 200,000 was in a boom period. House prices shot up in the early 2000s, and Modesto became a bedroom community for the Bay area. But then the subprime mortgage crisis hit hard: in February alone, Stanislaus County had 1,630 foreclosure filings, third highest in the nation. The physical toll it is taking on this hub nestled amid the almond groves is staggering. Huge, dusty stretches of subdivision developments lay untouched or partially built as developers run out of money...
Many of the forces that initially sent the economy into a tailspin in 1929 and 1930 have been at work in the 2000s as well: a stock-market boom turned bust, a real estate boom turned bust, unprecedented levels of consumer debt. The reason they haven't metastasized 1930s-style is that this time around, the Federal Reserve has acted forcefully, whereas in 1930 it was a spectator at the national train wreck...