'Growth recession?' What's that?

Concerning the article "Economy edges closer to stalling" prominently featured in your Aug. 28 paper, I take issue with the caption that accompanied the colorful photograph:

"We seem to be in the early stages of what might be called a 'growth recession,' " said Ethan Harris, an economist at Bank of America-Merrill Lynch. The economy is likely to keep expanding, but at a snail's pace and without creating many more jobs.

Does anyone know where the concept of a "growth recession" originates? What exactly is a "growth recession?" I understand that perception is important and this appears to be another weak attempt at seducing consumers into unfounded optimism, but this brand of gross word-smithing makes these educated professionals appear lame and desperate. They've resorted to semantics to combat a real, measurable economic phenomenon.

After laughing heartily and sharing this creative label with my fellow economics majors at California State University, Stanislaus, I tried to genuinely consider the message. I can't help but wonder how much more growth must we experience before the recession ends?

It's no wonder that many of these large financial institutions are/were on the verge of insolvency. Their economists prefer word games over sound financial forecasting and analysis.

MICHAEL CAMARA
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