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

2 comments:

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.