Why It's Called A "Depression"

A statement about the economy in which the single yet still eye-glazing no. mentioned doesn't matter, because the speaker is dealing w/ reality rather than the usual, mind-numbing figures, damned lies & stats. 

A distressing aspect of the report was the lack of business investment, said Joseph Brusuelas, a director at Moody’s Economy.com. Investment in equipment and software fell at an annualized rate of 28.8 percent.

“We’re not going to have a consumer-led recovery,” he said. He predicted it will be led by the technology industry and businesses spending on capital investments, which makes Friday’s figures for capital expenditures look “somewhat troubling.”

Few spend what they used to (even those who have something to spend are sitting on it) belts are tightened, debt is paid down into the bottomless hole of the banking industry (We were only following orders during our 17 odd yrs. in banking, we swear.) it's back to eating staples (except peanut butter — what next, ergot in Wonder Bread©?) and cocooning around the HD plasma videotron w/ CD-quality sound, the X hundred channels, etc., rather than buying or even doing anything. There's a word for that.