"The Economy" Is All Vibes Now

The problem isn't the economy. It's how people *feel* about the economy.

(The Bulwark / Midjourney)

1. But Inflation

Last week I had a long debate with Tim about the Biden economy and inflation. This was my thesis:

In every economic time there are lots of people in precarious positions, because this is America and our economics are red in tooth and claw. Whether you’re in 1986, or 1996, when things are going great, there are a whole lot of people who are an illness or lost job away from real financial calamity.

And so, even in times where we say “the economy is good,” there are a lot of things that cut both ways. For instance: