AP: "Even As Economy Mends, A Jobless Decade May Loom"

Encouraging news from the legacy media — and of course, their own industry’s woes cloud their viewpoint. First Time magazine dubs the naughts, “The Decade From Hell.” What about the decade that will succeed it? The wags at the Associated Press write, “Call it the Terrible Teens”:

The decade ahead could be a brutal one for America’s unemployed—and for people with jobs hoping for pay raises.

At best, it could take until the middle of the decade for the nation to generate enough jobs to drive down the unemployment rate to a normal 5 or 6 percent and keep it there. At worst, that won’t happen until much later—perhaps not until the next decade.

You and I have a rendezvous with scarcity…