Skepticism Towards Doom and Gloom Predictions

Public discourse often predicts economic doom and gloom at the slightest hint of trouble, like during the 2020 pandemic. Despite predictions of a deep depression worse than 2008 or the 1930s, there was actually a swift recovery. In 2021, fears of perpetual inflation following strong recovery were proven wrong as inflation fell after a temporary increase. Even in 2022, despite scaremongering about emerging market defaults due to raised interest rates, these catastrophic predictions did not materialize.