Current economic news in newspapers can be eye-popping at times. It can be flabbergasting when leaders in industry and business make sensational claims by using phrases that describe how the world’s economy will turn out to be in the coming days, months or years. One of the latest phrases introduced is ‘the new mediocre’.
This is how one local newspaper defines the phrase ‘the new mediocre’ in one of its articles: “This is a period characterised by low growth in output, investment, trade and earnings”.
Let me put that definition in proper and easy to understand English for the layman. What the phrase ‘the new mediocre’ really means is “THE WHOLE WORLD IS GOING TO HELL, ECONOMICALLY”. That definition is much clearer, isn’t it?
In addition, ‘the new mediocre’ should not be allowed to metamorphose into ‘the new reality’. Huh?! From ‘the new normal’ to ‘the new mediocre’ right up to ‘the new reality’. All these phrases are just pure bunkum. The economic phrases to describe the current evolving global economy malaise keep getting better and better.
All these phrases mean only one thing – the policy makers in charge of a country’s economic performance don’t know what is actually happening around them. They are at their wits’end to come up with quick solutions to solve the economic disease affecting their respective nations’ businesses and trade. They don’t know what to do and so they resort to such abovementioned phrases to allay the fears of the majority of their population. By resorting to such phrases, they hope to minimise the level of PANIC among their countrymen. That’s the REAL DEAL.
Tis’ the season for the new phrases to describe the global economic turbulence.
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