The Pink Elephant in the Room...

...is the looming economic crisis in America. Normally we ascribe terms such as "recession" or, in extreme cases, "depression" when the economy exhibits traits such as slow or negative growth, price increases, and a rise in unemployment rates, but to do so today would be non-PC. Instead of labeling present conditions with established terms we've taken to finding more creative ways to describe economic woes. My favorite term used to describe the present state of our economy was delivered last week. An official commented on the recent drop in home construction revenue (the lowest in 14 years), saying, "...it appears we are on the verge of a self-reinforcing downward spiral." Somewhere the politically correct crowd smiles in unison.

Last Friday President Bush acknowledged that the economy has slowed, but stopped short of using the word recession as an adjective. Instead, Bush bragged that his stimulus package would provide a needed booster shot. While that concession/explanation (and the promise of fresh cash) by Bush may pacify some of our consumer-driven citizens for another few months, the reality is that America has tried this "stimulus" approach before...with disastrous results.

Bush's tiptoeing around the issue of recession, depression, etc. should surprise no one, however. What elected official would openly admit to presiding over a slowing/failing economy? Asking Bush to admit that America is in a recession would be like asking a mother if she thinks her child is ugly. It ain't gonna happen.

If you remain unconvinced that our economy is in a recession, the fact that Dubya is beginning to speak of it should serve as the proverbial cold-bucket-of-water-over-the-head for you. After all, you don't want this guy realizing anything before you, do you?