Tonight was the birthday celebration of my friend Sara (or as her mother lovingly referred to her, "Bitch for her Birthday"). As we sat awaiting our luscious Mexican cuisine at Paloma Blanca, Sara announced that we should start using the term "The Great Recession" to refer to the current economic climate.
"It's just not fair,"Sara claimed. "The people who lived through the Great Depression probably never got to call it that while they were living it. I think we should have a better name for this recession-- it seems to be ending, so we need to act fast." With Sara's logic in mind, the Googling commenced.
Oh the disappointment brought on by the interwebs. It's so rude when fact contradicts theory.
1. As late as 1930, sweet ol' President Hoover was still claiming that "the fundamental strength of the economy is unimpaired." However, by 1931 Hoover himself referred to the economic situation as the "great depression."
Oh wait, there's more...
2. The term "great depression" dates back to 1820!
3. The Great Depression was coined early on, but did not take residence as a Proper Noun until the book The Great Depression (go figure) was published in1934.
Enough with the factoids about the Depression. What about the Great Recession?
Sorry Sara, but not a new idea. The term "Great Recession" (caps and all) was used to describe economic downturns in 1974-75, 79, the 80's, early 90's, 2001...
We still need a name for this era, so in honor of Hurricane Season (I heard about Hurricane Bill this morning... Wait isn't Bill a vampire in Louisiana?) I say we give this recession a proper name. Andre. Gilroy. Rasputin. In my Googling I also came across the following suggestions:
- Bush Recession
- Hoovered Again
- Very Good Depression
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