Something between recession and depression might better serve to describe the relentlessly worsening pickle we’re in, and perhaps convey its urgency without igniting widespread panic. Addressing the appellative problem, that estimable pair Jay and David Levy have dusted off a label they’ve pinned on earlier serious setbacks, calling the current state of the economy a "Contained Depression." [1]
Maybe it’s just because they’re getting paid and I’m not, but I love to see mainstream scribes squirm. Propaganda often becomes educational when it starts breaking down. This piece asserts the meme that "depression" has been overexposed in the news for a long time, when in fact it only emerged beyond the blogosphere a couple of weeks ago. The only intellectual weapon Doomers need to fight tripe like this is a memory.
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[1]: "The Not-So-Great Depression", by Alan Ableson, Barron’s, February 28, 2009.
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(unrelated to the thread, but a gem)
The Short and Simple Story of the Credit Crisis
Oops!
Let’s try this again:
(unrelated to the thread, but a gem)
The Short and Simple Story of the Credit Crisis
NVmike -
That video is a truly amazing performance. Jonathan Jarvis is a genius. I’ve posted an embed with a link to the vimeo original.