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What's the Best Name For the Current Economic Situation?

What's the Best Name For the Current Economic Situation?

Whenever there's something big going down, the people responsible for reporting on it are inclined to come up with a name for the situation. Throughout these uncertain economic times, there have been several references introduced, from the straightforward credit crisis to the government involvement derived Great Intervention.

Ali Velshi, the chief business correspondent for CNN, notes that a truly accurate name can't be given until the economy has started to recover and said, "We need some time to go by before we know what the turning points are and what actually happened." That may be true, but the current economic situation needs a name for the time being. All of these choices have been thrown around in the media — which do you think is most appropriate?


Join The Conversation
ECULeah ECULeah 8 years
I chose Credit Crisis, but then I absolutely adore alliteration.
starangel82 starangel82 8 years
I think we are a little beyond crisis at this point, but calling it a great anything is a little much right now. melizzle has a pretty good name for it up there. :) And I sympathize Bella... my retirement is just a sad thing to watch these days.
aimeeb aimeeb 8 years
I'd like to call it the Black Hole...
chatoyante chatoyante 8 years
I don't think we can call it the Great anything yet...that seems like a retrospective sort of thing. It'll take time to see exactly how great (and not in a good way) this collapse is.
Spectra Spectra 8 years
It's definitely a credit crisis...the overuse of credit is what got us into this huge mess and severely limiting credit and only giving it out to highly qualified people is going to be the only way it gets reversed.
CYL CYL 8 years
I was just in Hong Kong and they are calling it a market tusnami...I like that better much more creative ;)
fleurfairy fleurfairy 8 years
Financial Collapse seems like a good name. Credit Crisis limits the problem to just credit cards and that's not the case.
Shadowdamage Shadowdamage 8 years
"The Great I Told You So of 2008"
nancita nancita 8 years
I went with "Credit Crisis," because the others just feel too lighthearted. I'd say in situations like this it's best to avoid cute monikers.
stephley stephley 8 years
I'm with Bella, Financial Collapse. The other names are way too polite for what's going on.
looseseal looseseal 8 years
Here in Hong Kong it's being called the Economic Tsunami.
melizzle melizzle 8 years
Massive clusterf**k sums it up pretty nice.
Beauty Beauty 8 years
Financial collapse. (Maybe I've been reading too many peak oil blogs?) Ha ha, uneasy laughter as Bella watches her 401(k) plummet...
bsglrok132 bsglrok132 8 years
Credit crisis is the one I've seen thrown around the most, and it seems to fit.
ilanac13 ilanac13 8 years
see i wouldn't want to call it the great recession since it sounds too much like the 20's and i don't think that's the case. i think that the credit crisis is a bit more realistic since that's kind of what it is. companies are in a credit mess, people are in a credit mess - and it's resulting in a recession.
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