In its recent look back on the first 10 years of the century, Time Magazine proclaimed the period to be "the decade from hell". The editors made their case based on what they saw as the signature events of the past 10 years, notably the ravages of terrorism, failed wars, and a global financial crisis. Taken together, these factors produced an era that Time is convinced will be remembered as one of the low points in our history.



As the media hate to dwell on the negative, the commentary was rife with notes of optimism about pending recovery. It could hardly be accidental that in the very next issue, Fed Reserve chairman Ben Bernanke was named "Man of the Year" for his supposedly Herculean efforts to keep the economy afloat as we departed the Naughty Aughties. Although Time takes pains to point out that the "Person of the Year" honor reflects impact rather than adulation, its profile of the chairman was triumphant.