The Great Depression 2.0: What’s in a Name?

dustbowl1.jpgNeedless to say things are really bad right now. Everywhere. And considering that the auto bailout just fell apart in the Senate last night we suspect things are about to get worse. But what is about to get worse exactly? At a party the other night we were speculating with some people when exactly the Great Depression got its name — the consensus is it was not that long after the crash since, unlike today, people didn’t have such an issue throwing around the word “depression.” Still words are powerful, it took the government a year to concede that the country was actually in a recession, and this was after Wall Street required an emergency government bailout. Over at the Times Brian Stelter is contemplating this very issue (something we recall him contemplating a while back on his twitter feed, which come to think of it may have been what put it in our heads the other day). The question is what should people who have to report on it call this financial collapse? Says Stelter:

While the “economic crisis” — a term often used by journalists — has also been called the “credit crunch” and the “Wall Street crisis,” it remains the rare major news event without a defining logo, one that crystallizes attention and acts as shorthand for reporters.

Brian Williams says it’s hard to name something while you’re in the midst of it. We disagree. Anyway we are probably going to be in the midst of it for the foreseeable future. So! You readers are a creative bunch, what say you? We are partial to the Great Depression 2.0, but maybe that’s because we spend 18 hours a day online, Clusterstock‘s John Carney suggests the Great Reckoning, and Stelter mentions in his piece that the Great Recession is gaining some ground. Tell us what you think or make your own suggestions in the comments.

What Should We Call the Current Economic Crisis?
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