Bloomberg, via a source, makes its bid for what to call the crisis.

The Great Recession has a nice ring to it, plus it contains an innate hopefulness—that it won’t turn out to be something much worse.

The Motley Fool has been calling it that for a while, and China’s Xinhua news agency got lost in translation using it to refer to the Great Depression.

We can officially use the “R” word now, by the way. The panel that makes that call made it official yesterday, saying it began a year ago.

And it’s a long way from over, folks.