It was only a matter of time before navel gazing reporters started wondering what we should name this recession. (Well we only found out that we were in one a couple of weeks ago, so give us time…Sheesh!) The New York Times ponders the name game, while correctly noting that it might be a bit premature to assign a definitive name to something on par with the Great Depression and World War I, neither of which were called that at the time.
NY Times: While the “economic crisis” — a term often used by journalists — has also been called the “credit crunch” and the “Wall Street crisis,” it remains the rare major news event without a defining logo, one that crystallizes attention and acts as shorthand for reporters.
…”The news always feels the need to name everything,” Jonathan Wald, the senior vice president for business news at CNBC, said. “If it’s not branded, it doesn’t exist in modern television.” He observed that the television channels in India quickly labelled last month’s militant attacks in Mumbai as the “War on Mumbai” and “India’s 9/11.”