Posted 12/8/2023, 2:30:00 PM
Despite Economic Gains, Public Pessimism Fuels Idea of 'Vibecession'
- Despite economic indicators being positive, public pessimism about the economy has led to the concept of a "vibecession"
- Median household income and earnings for lower income groups have increased recently
- Inflation and unemployment are lower now compared to recent years
- Public sentiment that life is worse now than 50 years ago is not supported by data
- Allowing pessimism and misremembering the past can lead to harmful inaction and defeatism