One of my favorite sources for financial news, CNN Money, recently featured a piece on America’s “Lost Decade.” It referenced Japan’s “Lost Decade” — a period of similar economic crisis that began in the 1990s when their own real estate bubble burst. The author, Chris Isidore, says that private household debt in America is actually a much bigger problem than the government’s monstrous debt. With high unemployment and slow growth still plaguing us, it’s likely that things will continue to be this way for another six or seven years. We are “in for a long and painful adjustment period,” he says.
Learn more about achieving personal finance success with the following roundup of my favorite personal finance blog posts from the past week.