Are We in a Recession? Try the 'D' Word Instead

Published November 19, 2008

It's time overdue for political leaders and economic experts and the rest to stop saying that we're either already in a recession or are about to slide into one.

The truth, instead, is that we're either already in a depression or are about to tumble into one.

No one wants to say this. It's a kind of economic correctness, a superstitious fear that saying the dreaded word will bring the horror on. The reason for this fear...