Friday, October 8th, 2010
The “recovery” metaphor persistent in writings and talk about the US economy is somewhat puzzling, as it would require some explaining about the malady and the expected outcome. “Recover from” and “recover too.” “Recover” would imply that the “outcome” would match some desirable past state or condition. But I don’t think a recovery would aspire to 2006. What about 1995? Could 2006, for example, have been 2006 with clever monitoring of the difference between real productivity on national scales and funny money activity, such as betting on the housing bubble?
During lunch I watched a little of MSNBC and the talk about today’s job numbers. Of course, the talk was all about what the “administration” should do and what this means for Democrats and Republicans and what so and so should do and so and on and so forth with very little concern for much else. I found this as odd as the metaphor of “recovery.”
And, of course, I don’t have much more to add.