“Dip” has been enjoying 24/7 saturation exposure in stories about imaginary economic progress and real backsliding. The historical name for something like the quarter-century long depression that must follow the epic Panic of 2008 (which climaxed in the events of the afternoon and evening of Thursday September 18th) will, as usual, grow naturally out of a commonly used euphemism. While the official narrative-mongers have been selling the snake oil of a Great Recession, overuse of this latest word may cause the period 2009 – 2033 to be remembered instead as The Great Dip.
CS Monitor (8/20 ’10): “Forget a double dip: We’re still in one long big dipper”
It’s nonsense to think of the economy heading downward again into a double dip when most Americans never emerged from the first dip.