DOUBLE DIP, WHAT DOUBLE DIP? (May 2, 2012)
A whole bunch of European countries are in “technical” recession again, which means that their economies have dipped for two consecutive quarters. This also means that we are going through a double-dip recession, which has been bantered about ever since the so-called Great Recession several years ago. But even the best of financial newspapers do not mention the awful term at this juncture. Double dip, what double dip? The stockmarkets are way too skittish already for mere play on words. Why give them heartburn at such an awkward moment. In short, it is clear that we are living on borrowed time. The situation we face is too bad to talk about, lest the hoi polloi figure it out, too. Hey, how about entertainment, instead? This year’s Olympic games could not have come at a more propitious moment. And in London, too!