Recession of 2008
With the nation embroiled in talk of recession - the media, investors, politicians - Americans seem desperate to avoid entering this dreaded state. Congress and the President rushed to pass a $100 billion + stimulus package. Pundits spin every day about whether or not we are in a recession, and what it would mean if we are. It is my sense that the obsession with recession reveals the dark side of the infamously optimistic American character. What is this desperate state that is so awful that we must try anything to avoid it, and that is so horrific that even if we are in it we had better not go about and acknowledge it? It reminds me very much of someone in the early stages of a depression, when there is still opportunity for denial and distraction. It's like a depressed person who thinks he can put off depression if he can just go on enough ski vacations consecutively. All kinds of denial and avoidance are preferrable to looking the depression squarely in the face. Perhaps, ...