The term has become ubiquitous in news media reports and blogs, particularly those focusing on fashion on a budget.
The recessionista "is at the mall finding designer threads ... at discount prices," wrote Style.com blogger Derek Blasberg. "That's because recessionistas aren't letting a little thing like falling stock prices and rising gas bills get in the way of their wardrobe."
shovel ready: noun A construction project that can begin immediately after it receives funding.
The term "shovel ready" blasted into the public vernacular as proponents of the Obama administration's economic stimulus plan touted the public works projects that could begin -- and create jobs -- immediately if they received funding through the package. Obama called the plan, which received Congressional approval last month, "the largest new investment in national infrastructure since the creation of the federal highway system in the 1950s."
The term now is also being used colloquially by some to describe any project that is on the verge of beginning.
staycation: noun A holiday spent at home, especially due to straitened financial circumstances. --courtesy Collins Dictionaries.
As more people are finding their finances strained by job losses, the sinking stock market and withering house prices, they're tightening their belts by skipping pricey vacations. Instead, they're staying at, or close to, home with trips to local attractions like amusement parks.
The trend has spread to college students, with some now contemplating taking "spring break staycations."
zombie bank: noun A bank that has a negative net worth but continues to operate because of depositor's insurance or other governmental intervention. --courtesy Merriam-Webster.
The term may provoke images of horror movies and "the undead," but zombie bank refers not to monsters but financial institutions that cannot survive without aid from another party, often the government. Ressurected in recent months, "zombie bank" was also used to describe banks during the savings and loan crisis of the 1980s and during the Japanese financial crisis of the 1990s.