The fact that Western publics are unreasonably mad at objective trade-offs and tolerable living standards (and have to make up new words to describe a nebulous “crisis”) is bad because it generates real crises (avoiding trade-offs causes debt crises, grievance politics cause democratic crises).

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People's feeling about the economy became uncoupled from actual economic data during the Biden administration.

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The "this is about increased uncertainty" thesis is interesting. But I'd like someone to actually demonstrate it.

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"When a basket includes cheap consumer electronics, toys, that pushes CPI down despite, say, child care doubling." The basket is weighted by expenditures. "Cheap consumer electronics" do not make a big shift on CPI because they are a small fraction of expenditures. (Housing is 40% of CPI)

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Is that, specifically, what "they're" upset by? What's the singular why of everyone saying everything sucks? And, also, there have in fact been other times when it's been about as hard to buy a home and people did not believe "everything sucks shit" in the way they do now.

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