"Butterfield 8 and the fear of a new Depression." (Slate Magazine)

[KoKo]

BUtterfield 8 and the fear of a new Depression.

By Ron RosenbaumPosted Thursday, Sept. 1, 2011, at 7:23 PM ET

BUtterfield 8, the movie based on John O'Hara's Depression novel, starred Elizabeth TaylorIt can't be ignored any more. The fear. You've heard it in whispered asides, hesitant, nervous questions and observations like, "I've lived through bad recessions, sure, but things always started coming back" and "Do you get the feeling things are getting out of hand?" I keep wondering when they'll stop saying "double-dip recession," making it sound like a Baskin-Robbins promotion. I keep wondering when they'll start saying the dread D-word: Depression.

Oh, the word has been uttered (most saliently last week by Judge Richard Posner). And this week the White House has edged closer, calling it, "this great recession"—a step from the brink. But a fearfulness, almost a taboo, surrounds it. If we have nothing to fear but fear itself, as FDR said of the first Great Depression, we're beginning to fear the fear of a second. One can't help but notice people tip-toeing around the fear.

The best way I can explain the feeling is to compare it to those moments when a plane hits heavy weather. Even if you're a pretty good flier on smooth flights, there's that moment when your Airbus suddenly drops like a stone. No matter how many times it's happened before, and however much you tell yourself that stability will be recovered, it's hard not to avoid the sickening flash panic that this time the drop won't stop.

http://www.slate.com/id/2302344/

[glowing]

1. I would venture to say that Main St has been living a Depression this entire time.

[FirstLight]

2. good article...

but i would have preferred more about today's climate and it's indicators and less of a book review. that's just me.