Thursday, July 1, 2010

The Big "D"

Posted By on Thu, Jul 1, 2010 at 11:57 AM

The Columbia Journalism Review takes a look at who is using the D-word these days. "D" as in "Depression." As in the nightmare that makes your grandma want to bury cash in her backyard.

With Washington still unable to get its act together on a new round of stimulus spending, warnings about the consequences of inaction are taking on a much more serious tone. And while it may not be a full-fledged meme shift, the word “depression” is starting to creep into the coverage.

Paul Krugman looked to the history books in his Monday column and found “only two eras in economic history that were widely described as ‘depressions’ at the time: the years of deflation and instability that followed the Panic of 1873 and the years of mass unemployment that followed the financial crisis of 1929-31.”

Read the rest of this CJR article, by Holly Yeager, to find out who else is mentioning the D-word.

On the obsession with deficits, ignoring the jobless and how the G-20 failed us:

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