Betting on the Uncertain

If you think hard, you might be able to remember the good old days of, say, this past summer — back when some economists still had an argument for using terms like “slowdown” or “softness” in place of the dreaded “r” word. How quickly things change. The bleak news of September has plunged us not only into recession, but into one of its most dismal and enduring byproducts: consumer uncertainty.