How Bad IS The American Economy?
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.
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Note By BiggerPockets: These are opinions written by the author and do not necessarily represent the opinions of BiggerPockets.