Yesterday it officially became a Recession with experts saying it will be a deeper and longer recession than any we've seen in three decades and it is now being called a Global Crisis. Looking at the art of it all of these things we are now naming, Time magazine's cover for October 13 takes us back to images of The Great Depression. What is interesting is that this Time cover art with the cover story headline The New Hard Times is on all four global regional issues for the week. Usually these covers are tailored for each market. Another digital visual of the moment: the U.S. National Debt Clock ran out of digits to record the spiraling failure as it passed $10 trillion.
Time also had a good visual illustration of the global meltdown, and the cultural art as we go through this is part of the studies for the U.S. Economic Crisis Media Study I'm working on. Today the G7 meets and takes on the crisis.
The $700 billion Bailout is now called Troubled Asset Relief Program while in the UK it is called a Bailout Plan as our crisis spreads globally. For us, we're thinking about the visual reference to the Soup Lines of the 1930s which makes us think: The Great Depression, redux.
Mother this week reminded me of the saying: Eat it up, wear it out, make it do or do without.