The “silent depression” is here. Just like in 1929, the American economy is ravaged by a declining GDP, plummeting asset prices, widespread unemployment, and a completely fractured banking system. Wait…are any of those things happening today? Not quite. But, according to social media, a “silent depression” is widespread across the American economy, with high inflation, limited wage growth, and low homeownership for millennials and Gen Z.
To explain the “silent depression” trend, CNBC’s Jessica Dickler is on the show, giving her take on this trend and other popular economic trends across social media. We’ll get into why younger generations feel so bad about the economy, EVEN with strong financial fundamentals, the rising cost of living across the country, and whether or not economists agree with the “silent depression” theory.
And if you want to see Dave get really fired up, prepare to hear his best “you darn kids!” impression as he explains why so many young Americans are tired of older generations holding so much of the wealth.
In This Episode We Cover
The “silent depression” explained and why so many Americans are financially fearful
How BAD is the American economy in 2024? (is it even bad at all?)
Economic depressions vs. inflation and why the rising cost of living hits so hard
Explaining other popular TikTok trends like “loud budgeting” and “girl math”
Social media vs. reality and why you can’t (always) trust the internet
Dave aging instantly by thirty years during an on-air rant
And So Much More!
Click here to listen to the full episode: https://www.biggerpockets.com/blog/on-the-market-182
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