Some of you may have heard some noise in the media over the past week about the small dip in ...
Depression Fears (And A Response To The Housing Bill)
Depression Fears (And A Response To The Housing Bill)
July 30, 2008
The "We are in the worst economic climate since the Great Depression" wackadoos sure put up a good fight. But now more folks are finally seeing through their flawed logic.
From a recent Newsweek article:
The specter of depression stalks America. You hear the word repeatedly. Are we in a depression? If not, are we headed for one? The answer to the first question is no; the answer to the second is "almost certainly not." The use of "depression" to describe the economy is a case of rhetorical overkill that speaks volumes about today's widespread pessimism and anxiety. A short history lesson shows why.
