According to The Global Language Monitor, which is a… um… well, a global language monitor, the English language has officially added word (or common phrase) number one million: Web 2.0. As a side note, anyone who can list them all without pause gets a free Contrarian mousepad.
Word number 1,000,001, also announced today, is Financial Tsunami.
(By the way, that image is called City of Words, by Vito Acconci. Suitable, no?)