State of the Union: Casino Recess

The word recession, meaning a temporary dip in economic activity, was coined in 1929 during the start of the Great Depression, so even then, we were kidding ourselves. Now, after months of babbling on about “green shoots,” the main stream media, always fluffy and clueless when not outright dishonest, are starting to use "Great Recession," but that’s still sugarcoating it. Why not the Great Recess, as in a fun pause in labor when we can all run out and play, or, better yet, let’s give a nod to Saddam Hussein and label it, properly, as the Mother of all Depressions.

In November of 1929, a month after the stock market crash, Lou Nevin recorded, “Happy days are here again, / The skies above are clear again / Let us sing a song of cheer again.” In June of 2009, eight months after another stock market collapse, the New York Times launched “Happy Days,” a series of mostly palliative, feel good articles. Like Twain was supposed to have said, “The past does not repeat itself, but it rhymes.”

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