While I continue to work on the Risky Business blog post about the current status of the U.S. economic cycle that I mentioned in "Synchronicity in the Blogosphere" yesterday, I came across "The R-Word Index: Up Means Down -- The Economist's Gauge of Gloom" today.
According to its anonymous author, "The Economist's informal R-word index tracks the number of newspaper articles [in either the Financial Times or The Wall Street Journal] that use the word 'recession' in a quarter."
Speaking of the index, he or she notes, "[I]t boasts a decent record: previous incarnations of the index pinpointed the start of American recessions in 1990 and 2007." And that, of course, makes the index's visible rise this month all the more alarming.
In a comment that could have been accurately aimed at your humble correspondent, the writer then cleverly concludes, "[T]he hacks are getting anxious."
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