Firm recommends term for economic crisis

AUSTIN, Texas, Feb. 17 (UPI) -- The Global Language Monitor in Texas, a self-appointed arbiter of buzz words, suggests using "global economic restructuring" to describe the economic turmoil.

The Austin firm contends most terms now in use are highly emotional, including crisis, collapse, depression, meltdown and tsunami. Paul J.J. Payack, the company's founder, said in a news release Tuesday that those terms may meet the challenge of describing the size of current financial problems but do not meet the criterion of doing so in an "objective non-emotional manner."

"Global economic restructuring" combines precision with removal of "some of the emotional freight from the debate," Payack said.

Payack said that at least in the United States the economic crisis has not approached the severity of the Great Depression of the 1930s yet.