The end of the good times
There’s “abundant evidence” that we’re heading toward recession, says Daniel Gross in Slate. So why can’t anybody in Washington bring themselves to mention “the R word”? For a president, of course, a recession is “political poison,” but even many non-politicians have “come to believe (erroneously) that central bankers and executives” have “engineered the business cycle out of existence.” Well, “the laws of physics still apply to the U.S. economy,” and the latest proof is Google. The search engine giants is seeing falling paid ad clicks, in a belated nod to reality. And as “one of the last remaining hot sectors” cools, we have to face reality, too—hint: it “rhymes with shmashmession.”
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