Pitchfork-Wielding Mob

Ethan Strimling, All Towns

Recession.

Saying that word in the halls of power is tantamount to saying “Macbeth” in a theater. There are few words capable of striking more fear into the hearts of power brokers than “recession” (except maybe “investigation,” “impeachment,” and “pitchfork-wielding mob”). Get caught using that word in the wrong place, and watch how quickly faces blanche and eyes glance about nervously.

Fears of the dreaded “r” word have begun to sink into the national consciousness. Former Treasury Secretary Lawrence Summers pegs the odds of a recession at greater than 50%. Goldman Sachs, Morgan Stanley and Merrill Lynch all believe we’re on the verge of a recession or may already be in one. The dollar is dropping against foreign currencies based on these analyses.

For Wall Street, it looks like rough sailing ahead.

For far too many families here in Maine and around the country, it just looks like the same stormy weather we’ve been living through for years.