lsayre wrote:Speaking of the Japanese, if we were living in more honorable times our government would admit that we are in a depression. But since to them reality is merely what you make it (as opposed to reality being real), they are making this into not even being a recession (as that was officially declared to have ended back in 2009).
And speaking of that, I've been re-reading many of my economics books.
Thought it was interesting in Rothbard's "Economic Depressions: Their Cause and Cure" where he talks about the fact that there were periodic booms and busts which were generally called "panics" followed by "depressions".
But after the "Great" Depression, we've never had another. Interesting, no?
Depression gave way to "recession" which now are typically called "downturns", "slowdowns" or "sideways movements."
But my personal favorite has to be "negative growth"!
If that's not a term engineered and lab tested to confuse the proles, I don't know what is.