A serious global slowdown looks likely in 2012 - or, at least, that's the way conventional wisdom is shifting.
But there is a serious slowdown, compounded by what many experts say is political dawdling and disagreement about how to fix it.
But if he isn't, the stock market drop of the last two days will be remembered as the start of a serious economic slowdown.
They've held on to this section of grayspace for weeks without a serious slowdown.
There seem to be no signs of a serious slowdown.
He said the Federal Reserve's incremental pace was "unnecessarily keeping the risk too high" for a more serious slowdown.
The recent drop in mortgage interest rates has helped avert a more serious slowdown that was coming if rates had remained at their mid-October levels.
He added that it should also erase the fears of a serious slowdown.
To be sure, the evidence of a potentially serious slowdown in travel to Europe is largely anecdotal.
We've not seen a more serious slowdown in job creation.