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Economic contraction.
The phrase 'economic contraction' has probably been around for a long time but it seems like it's getting thrown around an awful lot these days. Mostly by people trying to soft-pedal our horrific economy. Like the financial analysts and reporters who should have, but didn't, see it coming. And ad agency heads explaining the need for layoffs.
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Over here in blighty, my brother picked up a nauseating phrase penned to describe how the middle classes see themselves during the recession "the coping class". He believes this to mean keeping the Volvo for three years not two and reducing the gardener to two days a week.
Posted by: Keith | 13 March 2009 at 02:54 PM