The ‘Vibecession’ Is Over. The ‘Permacession’ Is Here.
The recent drop in consumer sentiment has sent shockwaves through the economic establishment, leaving many puzzled by why Americans are so pessimistic about an economy that is performing reasonably well.
According to the University of Michigan's index of consumer sentiment, this pessimism has reached its lowest point since 1952 – a stark contrast to the booming stock market and low unemployment rates.