Wednesday, February 4, 2009

nearly too frightening to define

"There is no exact definition of a depression, even now, more than 70 years after the last one ended."

Gary Duncan, Economics Editor
UK Times


jamiegp said...

I'd prefer he say "previous" rather than "last." It would clear up any ambiguity re where we are right now.

I'm a usual big fan of ambiguity, but after the first few months of TARP I prefer clarity in my economic policy.

Justin Sirois said...

Well stated, sir. You'd make one hell of a journalist, but there's a glut of unemployed scribes sniffing for work as it is.
I predicted some sort of doomsday when the real estate market was unsustainably inflated, but I never imagined this.
Oh Greenspan, your Atlas is shrugging and his dandruff is a fine nuclear snow.