Are we in a CRECESSION?
By: Myles, July 21st, 2008
According to Noah Rosenblatts post in UrbanDigs,
we are currently in a CRECESSION.
Noah coins an interesting term that describes the odd economic state that we currently find ourselves in. He calls this state a – Crecession. Here is the formal definition:
A period of economic activity where available credit is contracting and the cost of credit is rising, leading to a disruption in the credit markets and difficulties for businesses that borrow short and lend long. The result will likely be a period of asset deflation leading to a lack of growth, rising unemployment, and rising commodity inflation due to pressure on the dollar.
Seems right on the money to me ……
So, will you survive the CRECESSION?
Tags: Crecession
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