Characterizing the decade

Time magazine describes the first 10 years of this century as "the decade from hell." Peter Schiff disagrees, saying it had striking parallels to the Roaring Twenties. "[T]he decade now closing gave us the biggest and most irresponsible spending orgy in U.S. history. The past decade was the party; the one ahead will be the hangover."

Schiff goes on to say:

For now, Congress and the President remain as clueless as Time. To show its resolve to "get to the bottom of things," the Obama Administration has impaneled a commission to investigate the causes of the financial crisis. Do not expect the proceedings, which are just getting underway, to come up with anything but the most politically useful explanations.