Friday, February 12, 2010
It's Not a "Recession," Stupid!
1. the act of receding or withdrawing.
2. a receding part of a wall, building, etc.
3. a withdrawing procession, as at the end of a religious service.
4. Economics. a period of an economic contraction, sometimes limited in scope or duration.
Get it? LIMITED in scope or duration. If something recedes for a while, it has the capacity of going back. Like the tide that recedes and then comes back in. It withdraws and then comes back.
So if you talk about what is going on right now in this country's economy as a "recession", it means that you are clinging to the misguided belief that eventually things will go back to the way they were before the current economic meltdown. Come on, are you kidding me? It is never going to go back. We have to acknowledge that this is no temporary recession. This is a deep-seated systemic crisis of huge proportions that is going to transform the way we live, whether we want it or not.
Preferring to hide in illusion from unpleasant, uncomfortable reality is what got this society into the current crisis. Let's not compound our mistake by refusing to recognize what is going on.