Posted 12/11/2023, 5:55:00 PM
TikTokers Draw Parallels Between Today's Economy and Great Depression, But Experts Urge Caution on Claims of Silent Depression
- TikTokers claim the economy now is as bad as the Great Depression, dubbing it a "silent depression"
- They compare 1930s prices to today's - homes, cars, rent, salaries - arguing things are proportionally more expensive
- Journalists critique the TikTok claims, noting lack of reliable 1930s economic data and today's broader social safety nets
- While houses are more expensive, that doesn't equal a depressed economy by traditional measures
- Still, young people face challenges including student debt, high rents, and barriers to home ownership