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This Recession Was Brought to You by the Letters U, V and L

A popular question [1] for economists lately has been what shape this recession will take. Will it be a “U,” a “V,” or maybe an “L”? Could we even find ourselves caught up in the roller coaster of a “W,” just when we think we’ve finally voted out that letter once and for all? What’s with the alphabet soup? This categorization is a kind of verbal shorthand for describing the shape of the ups and downs of the gross domestic product and the broader economy. It’s not an exact science, which is part of the reason there’s so much debate [2] about which type the United States is experiencing. There’s no governing body or think tank tasked with crunching the numbers and officially declaring a recession one letter or another. In general, V-shaped recessions are those that last for a few quarters, while the more unpleasant U-shaped recessions can drag on for up to a couple of years. It’s the difference between a head cold that clears your system in a week and a case of bronchitis that leaves y...
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Can't Ask For More

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Tomorrow I will be starting a new career in Shanghai for at least a year. The opportunity came at a timing less than ideal given our family has just celebrated the arrival of 欣蒽, and 芯宁 is now enjoying her sister's companion; all the good reasons for me to be at home. At the same time, 丽晶and I are both doing so well together. Like our past successes, we always need to keep ourselves on the toes and be prepared to take up new challenges that could represent a greenfield for our family. Nelly took up the challenge of being a Private Banker after her surgery in 2005, I took the risk of jumping into Operations at the time banking is most unstable in 2008 and we had just overjoyed with 芯宁arrival. Looking back we are glad to take up the challenges and enjoying the fruits of our decision and hardwork. I guess now this is another huge leap of faith for me, again, and this time it is Shanghai. It will be a challenging career and tough time managing being aw...
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