In your main leader you warn that the world economy is heading toward a “black hole” (“Be Afraid,” October 1, 2011). According to you, the eurozone seems to be slipping into recession. Also, the American economy is being pushed into recession. Besides, the emerging economies are offering an ever-slimmer cushion against these calamities of the rich world. As you point out, the main culprits are politicians. They are not being honest. In your words: “Too many rich-world politicians have failed to tell voters the scale of the problem.” Recession? In fact, the problem we are facing at present is depression, instead. You, too, have failed to tell your readers of the scale of the problem. Although depression is a frightening notion, it is much more honest than the one you chose to employ. Black holes may be frightening to a few innocent souls enthralled by science fiction, but no-one on earth has ever had an encounter with calamities of this cosmic variety. And the Great Depression is still frightening to the living after some eighty years. It is something to be afraid of without any doubt.