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Calling the 2000s "the worst" may seem an overwrought label in a decade in which we fought no major wars, in historical terms. It is a sadly appropriate term for the families of the thousands of 9/11 victims and soldiers and others killed in Iraq and Afghanistan. But the lack of a large-scale armed conflict makes these past 10 years stand out that much more. This decade was as awful as any peacetime decade in the nation's entire history. Between the West's ongoing struggle against radical Islam and our recent near-death economic experience - trends that have...

Author: /time Magazine | Title: The '00s: Goodbye (at Last) to the Decade from Hell | 11/24/2009 | See Source »

...decimating the U.S. companies. In 1979, GM's U.S. employment peaked at 618,365. Today it's at 75,000 and falling fast. GM's U.S. market share, once about 50%, has fallen to about 20%. True, the quality and efficiency of American cars have improved dramatically, but it may be too late...

Author: /time Magazine | Title: The '00s: Goodbye (at Last) to the Decade from Hell | 11/24/2009 | See Source »

...Wall Street? By facing the music now. Toughen up borrowing requirements by banks. Increase oversight, especially when it comes to regulating derivatives. Perhaps enact a 21st century version of Glass-Steagall. And don't allow any institution to become too big to fail. Does that mean some countries may get ahead of us in terms of financial innovation? Sure, but so what? For much of this decade, both England and Iceland were considered friendlier to capital markets than the U.S. England is now threadbare; Iceland is bankrupt...

Author: /time Magazine | Title: The '00s: Goodbye (at Last) to the Decade from Hell | 11/24/2009 | See Source »

There is no guarantee that the next decade (get ready for the Teens!) will be any better than this one. It's likely that China will continue to grow faster than the U.S., and we may continue to see our global dominance erode. But very significantly, we still hold many of the world's trump cards. We still have the world's strongest military, which means we can and must lead in maintaining order and crafting peace. We are the leaders in technological innovation. And we are still the nation that most others emulate. If we remember those points...

Author: /time Magazine | Title: The '00s: Goodbye (at Last) to the Decade from Hell | 11/24/2009 | See Source »

...know that flying with bags these days can cost you extra, but who knew how expensive it could get? One unlucky traveler got hit with an excess-baggage charge so outrageous, he may as well have bought his luggage its own seats on the flight...

Author: /time Magazine | Title: Airline Bag Fees: As High as the Cost of a Seat? | 11/24/2009 | See Source »

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