Categories: uncategorized
Date: 19 June 2008 07:26:52
Even the Bank of England and Radio Four are using the fluffy terms like: "slow down in the housing market" and "credit crunch", none are prepared to be honest and say what we are experiencing is recession.
The Oxford Popular Dictionary defines a recession as:
"A temporary decline in economic activity or prosperity."
Therefore, we are currently in recession. The only explanation for not using the word I can think of is that somehow people think it will be easier if we use fluffy euphuisms. Let's face it, it happened before and it will happen again, recessions are, a somewhat unpleasant, economic reality. So let's be grown ups and be honest about what we're experiencing.