Disinflation, Unrecovery, Nonflation, Stagcession…the more annoying this economy gets, the cooler the descriptive adjectives coming from the pundits.
Wilbur Ross just shared a new one with us of his own design – “Subpression“…
Wilbur Ross, chairman of private- equity firm WL Ross & Co., said he expects the U.S. to avoid another recession while entering a “subpression” marked by little economic growth and few new jobs.
“We don’t think it’s going back into a recession, we think it’s more of a subpression, where you have a slight economic growth, but a relatively jobless phenomenon,” Ross said today in an interview with Deirdre Bolton on Bloomberg Television’s “Inside Track.” “It’s a new kind of an event for us to be in. It’s not technically a recession, because you’re not having declining gross domestic product, but it sure feels like one to the people who are losing their jobs.”
Subpression is hilarious, use it three times today and it becomes yours.