What Should We Call the Economic Crisis?

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What Shall We Call the Present Economic Crisis: A Contest

by Walter Block by Walter Block Recently by Walter Block: How I Offended the Diversitarians

Nomenclature first. Unless and until we know how to refer to the economic debacle of 2009, we cannot make much progress in solving it. We all know what to call the previous episode: The Great Depression. But, what about this present one?

If we do not get on record with a name, our friends on the left will steal a march on us. They will call it by some or all of these appellations:

The Great Struggle. The Capitalist Collapse. The Greed Depression. The Capitalist Depression. The Libertarian Depression. The Laissez Faire Depression.

So, we have to head them off. I would like to have a consensus on this matter, though. Therefore, we are going to have a bit of a contest. Readers of LewRockwell.com are asked to send in their votes. Everyone can get up to three votes: 3 points for your first choice, 2 points for your second choice, and 1 point for your third choice. Since I am expecting 100s of responses, please put your vote in the following format, for ease of compilation:

1. (3 points) Depression to End all Depressions.

2. (2 points) Fiat Money Depression.

3. (1 point) Great Depression II.

(These are just for example, to illustrate the format; do not be biased by these choices.)

After a week or so, I will compile the results, and announce the top 10 winners. Maybe we can sneak this onto the David Letterman show. Here are the options:

  • A Depression You Can Believe In
  • Attention Deficit Depression (for our lack of attention to history and its lessons)
  • Austrian School-Predicted Depression
  • Banking-Depression.
  • Banking-Insurance-Depression (BI-Depression).
  • Beginning of End of the Dollar Depression
  • Bernanke’s Tar Baby Depression
  • Big Banana (the Carter administration presided over an economic downturn but did not want to call it a recession, so they referred to it as a “Banana”) 
  • Big Government Depression
  • Fed’s depression
  • Bum Deal Depression
  • Bush-Obama Depression.
  • Bush-Obama-Depression (BO-Depression).
  • Central Bank Depression
  • "Change" Depression.
  • Crap Capital Panic
  •     $58     $39     Dead Banks Recession
  • Debt Depression
  • Debt-pression
  • Democratic Party-Depression (DP Depression)
  • Depression to End all Depressions
  • DNC-Depression. Barney Frank-Depression.
  • Echo Depression
  • Economic Debacle of 2009
  • Great Repo Session
  • Economists Gone Wild Depression (All-Economists-Apart-From-Austro-libertarians-Gone-Wild Depression.)
  • Empire’s Depression (we are a bankrupt empire.)
  • Fannie and Freddy Muck
  • Fed’s Second Depression
  • Federal Reserve-Depression (FR-Depression which sounds close to FDR-Depression!).
  • Fiat Bank Depression/Collapse
  • Fiat Money Depression.
  • First Meltdown of the 21st Century Depression
  • First Quadrillion Depression
  • Frank-Dodd-Obama-New Century-Raines-ACORN-Cramer-Kudlow Depression
  • FeD-ON-CRACK Depression
  • Friedman-Keynes Depression
  • Gigantic Depression
  • Grand Cahuna Depression.
  • Great Cainseyian Depression (Cain killed Abel; in reference to the present statist economic system trying to kill off free enterprise once and for all.)
  • Great Debt-pression (debt-prison)
  • Great Deleveraging Depression
  • Great Denouement Depression
  • Great Depression 2.0.
  • Great Depression II.
  • Great Depression on Steroids
  • Great Devaluation
  • Great Green Depression
  • Great Keynesian Depression
  • Great Regression Depression
  • Great Repression
  • Great Stagflation.
  • Great Stagflationary Depression
  • Great Terminal Depression
  • Great Western Depression
  • Greater Depression
  • Greenspan-Bernanke Depression.
  • Indebt Depression.
  • Indebted Depression.
  • Intervention Depression.
  • It’s not a depression we’re in; it’s an Oppression…with emphasis on O
  • Mainstream Media Depression (MSM-Depression)
  • Mainstream-Economists-On-Crack Depression
  • Manic Depression
  • Meltdown Depression (guess who’s book inspired this one)
  • Messiah-Depression.
  • Mother of all Depressions
  • Mr. Market Stomps Washington
  • No green shoots depression
  • Obama-Depression (OB-Depression)
  • Obamanic Depression
  • Oppression Depression.
  • Regulatory Depression/Collapse
  • Republican Party Depression (RPD)
  • Revolutionary Depression
  • Rich Banker Full Employment Program Depression
  • Ron Paul was Right Economic Crisis
  • Ron Paul was Right Depression
  • Terminal Depression
  • Twenty First Century Flop
  • We Deserve It (because we elected these clowns)-Depression (WDI-Depression)
  • We-Learned-Nothing-From-The-Great-Depression Depression
  • World Depression II
  • "Yes We Can" Depression
  • You-Can-Have-It-Now Depression
  • Zombie Bank Slump

Among those who have brainstormed with us, so as to elicit the best name for the economic situation of 2009 for which we thank them, are the following (if your name is not on this list, and you have sent me suggestions, please let me know so that I can publicly thank you; do mention your suggestion).

  • Geir Agustsson
  • David Beck
  • TC Bell
  • Kevin Bogvin
  • Bob Broadfoot
  • Raymond Bryan
  • Collins, Charles A
  • Jim Davidson
  • Joe Depczynski
  • Brad Dillman
  • Roy Drake
  • Kevin Duffy
  • Bruce Faling
  • Aaron Fedora
  • Fox, Dick P
  • Jason Gordon
  • Kaj Grüssner
  • Jennifer Lewis
  • Ansel Leigh Lindner
  • Caitlin Long
  • Daniel McCarthy
  • Lorenz H. Menke, Jr.
  • Christopher Quick
  • Matthew Palmer
  • Jennifer Penman
  • Dennis Petticrew
  • aleksander pruitt
  • Monty Roberts
  • Roesler, Nolan
  • Jim Shepherd
  • Robin Winterset

Dr. Block [send him mail] is a professor of economics at Loyola University New Orleans, and a senior fellow of the Ludwig von Mises Institute. He is the author of Defending the Undefendable and Labor Economics From A Free Market Perspective. His latest book is The Privatization of Roads and Highways.

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