Bursting of bubble begets buzzwords

The rising unemployment rate and bearish stock market are reliable indicators that the economy is in dire straits.

But an economic downturn isn’t a full-blown recession until it spawns a new set of creative and descriptive buzzwords, catch phrases and acronyms.

In other words, the rising tide of underwater and upside-down homes, zombie banks, TARPs and toxic ARM mortgages are proof that we’re in a recession of historic proportions.

There hasn’t been an explosion of new entries into the business vernacular like this since the Great Depression, which spawned Black Tuesday, Dust Bowl, WPA, New Deal, migrant worker, Hooverville and bread line.

[more] via The Columbus Dispatch : Bursting of bubble begets buzzwords.