Consumer sentiment surveys say we're more miserable now than during COVID, 2008, the 70s stagflation, Vietnam, and the last 10 recessions combined.
Yet unemployment is near record lows. Wages are up. Spending is strong. Travel is booming. Restaurants are packed.
The disconnect is wild. Part of it is social media — everyone's doom-scrolling negativity 24/7. Part of it is inflation psychology — people hate rising prices even when their incomes rise too. Part of it is political polarization making half the country feel terrible no matter who's in charge.
Sentiment surveys used to track reality. Now they track vibes. And vibes are shaped by algorithms, not bank accounts.
Don't ignore sentiment entirely — it affects behavior. But don't mistake how people *feel* for how they're actually *doing*. The gap has never been wider.
Yet unemployment is near record lows. Wages are up. Spending is strong. Travel is booming. Restaurants are packed.
The disconnect is wild. Part of it is social media — everyone's doom-scrolling negativity 24/7. Part of it is inflation psychology — people hate rising prices even when their incomes rise too. Part of it is political polarization making half the country feel terrible no matter who's in charge.
Sentiment surveys used to track reality. Now they track vibes. And vibes are shaped by algorithms, not bank accounts.
Don't ignore sentiment entirely — it affects behavior. But don't mistake how people *feel* for how they're actually *doing*. The gap has never been wider.
