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On The Market
182: “Silent Depression” or Complete Delusion: How Bad IS The American Economy? w/Jessica Dickler
Jan 24, 2024
CNBC journalist Jessica Dickler discusses the 'silent depression' trend in the American economy, examining high inflation, limited wage growth, and low homeownership for millennials and Gen Z. The podcast explores the disconnect between the economy and people's perception, the impact of social media on financial situations, and frustrations with mislabeling economic issues.
25:23
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Quick takeaways
- The perception of a 'silent depression' in the American economy is fueled by the disconnect between personal affordability challenges, such as high housing costs and student loans, and broader economic indicators of growth.
- Social media platforms can amplify negative sentiments and frustrations about the economy, leading to the spread of ideas like the 'silent depression' trend, while the highlight reel nature of social media can contribute to a sense of deprivation as people compare their financial situations to others who appear to live lavish lifestyles.
Deep dives
The Trend of a Silent Depression on TikTok
A new trend is gaining traction on TikTok where people are sharing their experiences of a so-called 'silent depression'. They express the difficulty of getting by in present times, with the increasing costs of everyday expenses such as groceries and transportation. These rising costs, particularly in food and transportation, have challenged people's perception of affordability and led them to label the current economic situation as a silent depression. This trend is particularly popular among young adults who are starting out and facing the challenges of high housing costs and student loan payments.
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Discover
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