Or so once said Olivia Soprano, played by the extremely talented and deeply missed Nancy Marchand.
As I write this, most of you in the USA are in various degrees of preparation for the “big ball drop” on Times Square in a couple hours. Here in the Philippines, it’s just past 9 am on New Year’s Day morning, 1 January, 2010 … the first year in ten where there hasn’t been that foolish ‘oh’ in front of the last significant digit. (see Just Joking, Lang if you haven’t already read my take on this ‘zeroeth’ decade.)
My friend Don Brown pointed out one of Paul Krugman’s final column of that decade you are still mired in, and it pretty much says it all abut how I view the ‘naughties’ …. take the time to read Paul in the morning as your hangover subsides and see if you don’t agree…
Maybe we knew, at some unconscious, instinctive level, that it would be an era best forgotten. Whatever the reason, we got through the first decade of the new millennium without ever agreeing on what to call it. The aughts? The naughties? Whatever. (Yes, I know that strictly speaking the millennium didn’t begin until 2001. Do we really care?)
But from an economic point of view, I’d suggest that we call the decade past the Big Zero. It was a decade in which nothing good happened, and none of the optimistic things we were supposed to believe turned out to be true.
It was a decade with basically zero job creation. O.K., the headline employment number for December 2009 will be slightly higher than that for December 1999, but only slightly. And private-sector employment has actually declined — the first decade on record in which that happened…
(read more of Paul’s column here,) and please, just for one hour on one day, the first day of a new year, turn off you rabid political views and read what the man says and not what his politics say, ok, do that for me, please? Thanks, and Happy New Year. I have seen 2010 and it looks good.