If the economy’s so good, why do we feel so bad? 84% of Canadians believe we’re in a recession right now and yet Canada's GDP actually outperformed expectations last year, unemployment is low and wages are increasing. There’s a disconnect between inflation rates and how we feel about inflation rates. Welcome to the vibecession.
Our guest, Kyla Scanlon, is the author of In This Economy? How Money & Markets Really Work. Kyla coined the term “vibecession” to capture the mismatch between objective economic indicators and people’s subjective feelings about the economy. We talk with her about the risks of believing the bad vibes, what TikTok has to do with our pessimistic mood, and why we’re still spending when we feel so broke. Kyla also writes a newsletter, is one of the co-hosts of Wealthsimple’s podcast TLDR and has her own podcast called Let's Appreciate.
Also, Vass and Katrina discuss mental breakdown TV.
This is Lately. Every week, we take a deep dive into the big, defining trends in business and tech that are reshaping our every day.
Our executive producer is Katrina Onstad. The show is produced by Andrea Varsany. Our sound designer is Cameron McIver.
Subscribe to the Lately newsletter, where we unpack more of the latest in business and technology.
Find the transcript of today’s episode here.
We’d love to hear from you. Send your comments, questions or ideas to lately@globeandmail.com.