The Great Recession

[darinbradley]

So, it has a name now-well, that's something.

More interesting to me, however, is the newest tide of unease washing over economists: "6 double dip warning signs"I am not surprised. Look, there really wasn't any reason for everyone to start hollering that the recession was over. Yes, things were turning upward, ever so slightly. New unemployment

Comments

[sauvagerie]

Any recovery that can be built on solid ground rather than rushing consumers back into credit-based spending is going to take time. From the start I have seen this recession as an opportunity to "update" the economy by improving the savings rate, moving people into green jobs, getting serious about sustainability, etc. That is, if we can get through some lean years, perhaps we can come out the other side with less reliance on fossil fuels, more long-term financial security for families (including recognition of the necessity for a decent social safety net), and more valuing of quality over quantity in what we buy. I recognize that I'm very lucky: I wasn't living all that high on the hog before the recession, and it has affected me very little. But if we have to suffer, why not see some good come out of it rather than latching onto the first good sign that comes along and saying "Thank God! I can finally start accruing consumer debt in pursuit of more & more mass-produced stuff again!"

[darinbradley]

Well, it doesn't help that a lot of these initiatives you mention have been lumped into the "opposition" by the new culture warriors who have decided that the president, his administration, and those who support him/it/them are all in league with terrorists, Islamists, and socialists. It's becoming almost un-American to invest ideologically in the kinds of change we need to reinvigorate.

[sauvagerie]

I was trying not to think about that part, lest I be forced into the weird position of hoping things get worse so that people will have to figure this stuff out.