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I suggest we assign economic recessions male and female names like we do with hurricanes. It would make each recession more specific and memorable (a la "Hurricane Andrew", rather than "The big hurricane around 1992")
A recession is like a hurricane in many ways: It travels a deadly path from one
financial sector to another, destroying all profits in its path and affecting the health and wealth of everyone remotely near to it financially. It leaves financial ruin and financial injury (poverty; layoffs) in its wake which take many years to recover from.
Making past recessions more memorable would encourage people to invest more prudently. Associating a name with the crash will spark people's minds as to how bad things really can and do happen. A lot of people would never choose to live in a place plagued by hurricanes, and yet those same people happily invest their money in a stock market that experiences recessions every 5 to 10 years.
Recessions could even be named after whoever's Secretary of the Treasury at the time - this would impose a strong incentive for the Secretary to try to prevent them, as no one wants his/her name attached to a bad historical event; yet it would not be a real financial stake.
Also there is this
http://www.whitehou...09/20080919-15.html
A press release by the administration [Cuit_au_Four, Oct 11 2008]
[link]
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There was also a recession during the previous Bush administration. This one should be called George Jr. [+] |
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//Warren Buffett is cleaning up// |
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Capitalism only works if you have capital. |
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Wasn't the depression of the 1930s named after Alexander the Great? |
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No I suspect that Reagan-bombics would be a superior description. |
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Many of these clowns will retire wealthy beyond their years as a result of their actions, and couldn't care less what we hang on their names. |
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+ Still a great idea. It would be nice to add something nasty after the name besides the word *recession*.
(what was so *great* about the Great Depression?) |
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I think there is a specific definition of "recession" - e.g. produce drops by 20% or something, and it becomes a depression if this goes on for a specific number of years. So we could name them as they happen. |
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//"possibly about to deviate from splendidness" //
Oh no, sell! Sell! SELLLLLLLLLLLL! |
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//possibly about to deviate from splendidness// |
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's funny, how repressing words correlates to control. One day I'm setting up shop in an unpopulatated area of Canada and shooting anyone that steps foot on my property. |
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That's 13 syllables; I don't see it becoming a jargon phrase anytime soon. |
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This is like calling World War II the Hitler War. |
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However, I would call it the Congressional Recession, or the "Concession," because if you don't blame Congress for its inaction, that's what you are granting them. |
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I was going to propose naming it "Thatcher" a few days ago, but held off as I feared devastating neocon economic flaming. But last night the TV agreed with me, so I'm feeling braver. |
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It's Thatcher's fault - name it after her. |
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Not only Thatcher's; more Reagan's. |
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Europe just put another trillion dollars into the system. |
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Name bail-outs after people. In this case, the great Socialist Sarkozy gets the credit of saving global capitalism's ass. |
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nope, Bush does not have the power to concieve and pass a budget without congressional approval. |
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Thatcher Reagan recession - what about the general recessions of the early 80's, 90's and 2000's - who do they get named after, and how/why is there a 20+ year gap between a person being in charge, and having a recession named after them? - is it because there are *so* many people to blame that you just have to wait your turn? |
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This is "Recession Alan Grenspan". The last Great Depression was "Recession Herbert Hoover". |
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