Yesterday, The New York Times (Sunday edition) devoted almost a full page of its Op-Ed section to a number of short essays written by economists, Wall Street analysts, scholars and fellows at various “think tanks” (both liberal and conservative) government advisers (past or present) and prominent business people (many of these folks fit into more than one category, by the way). The question they were all asked to address: Are We in a Recession?
[. . .] Oddly enough (well, not really, I just like to use the word odd in all its varieties when discussing serious purveyors of news and public opinion such as, for example, The New York Times) there was one significant group of individuals who apparently were not asked to contribute to this discussion by answering the question posed by the Times’ editors, as to whether “we” are in a recession (and I’m using we here in the same sense as that term is used in the phrase “We the People” in the Preamble to the Constitution of the United States of America, rather than limiting it to any “subset” of said “we” such as financial institutions, economists, investors, fellows at well known non-profit educational and policy foundations or highly compensated, highly educated, and highly intelligent people offered the chance to present their opinions on the Op-Ed pages of The New York Times). Can you guess who those people might be, the ones whose opinions were deemed unsuitable for inclusion alongside all of these well spoken and well informed worthies the Times chose to answer this question of serious concern to all Americans?
And what do you think, are “we” in a recession now? Leave a comment.