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...question Ronald Reagan posed years ago, Are you better off today than you were at the beginning of the decade? For most of us, the answer is a resounding no. Let us count the ways. For one thing, the stock market is down 26% since 2000, making this the worst decade for stocks. (Inflation-adjusted, it's even worse.) I remember Warren Buffett telling me at the beginning of the decade that there was no way the go-go returns of the 1990s were going to continue and that we had better get used to meager returns going forward. Buffett...

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

...wink) the union would keep the peace, i.e., rule out strikes, even though both sides must have realized that the amount being paid to workers was unsustainable, particularly if the industry hit any downdrafts - which happened with increasing frequency starting with the 1973 OPEC oil embargo. (See the 50 worst cars of all time...

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

...what about the Hurricane Katrina debacle? An act of God, right? Not really. When the storm raced toward New Orleans in late August 2005, scientists at the National Oceanic and Atmospheric Administration feared the worst. For years they had been warning the Army Corps of Engineers, which oversaw the city's 350 miles of levees, that its system was inadequate. The scientists wanted the Corps to revise the Standard Project Hurricane, a model that determines how extensive the levees should be. For instance, the Corps did not consider the tendency of soil to sink over time, and it excluded...

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

...people who are investing today are going to have fairly nice returns." Over time, stocks have averaged a total return of about 9%. Remember, stocks were down 1.2% per year this decade, after being up 18.2% per year in the 1990s. Returns always revert to the mean. (See the worst business deals...

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

...Clearly the worst is behind us." - On the financial crisis' effect, at a World Economic Forum meeting (New York Times...

Author: /time Magazine | Title: Manmohan Singh, India's Prime Minister | 11/24/2009 | See Source »

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