Friday, May 23, 2008

Recesshawazzat, II

What does a recession "sound" like? It's an important question, because all I hear is happy talk from public figures, financial experts, and journalists. But despite their rosiest takes, those people know that the hobgoblin of the US economy is that tangled mass called "consumer confidence," which is by any measure quite low these days. That being the case, talking about the economy in realistic--which is the same, just now, as gloomy--terms isn't going to erode confidence any further. So, when will we see somebody in a position of authority talk about the recession we're in and offer up some ideas instead of pie in the sky?