This article discusses the concept of “recession indicators” and how they are being used in popular culture, notably on social media. The author uses humor and personal anecdotes to explore the anxieties surrounding potential economic downturns.
Here’s a breakdown of the key points:
The Rise of “Recession Indicators”: the author notes a trend of labeling almost anything as a “recession indicator,” from popular toys like Labubu dolls to social behaviors like young people enjoying themselves. This is attributed to the constant barrage of negative news and the general sense of impending disaster.
Cultural Portents: The article draws parallels between current cultural trends and those observed during the 2008 financial crisis. Examples include:
The “desk to dance floor” movement in fashion,characterized by business-casual attire paired with statement jewelry,is seen as making a comeback. The renewed focus on “ultra-processed foods” and “heroin chic” slimness is also presented as a sign of economic anxiety.
Personal Experience of the 2008 Recession: The author shares their personal experience of the 2008 recession, highlighting how their modest upbringing and parents’ risk-averse financial habits, coupled with their family not benefiting from the Celtic Tiger boom, meant they had “not much to lose.” they describe their life as relatively unaffected by the crash, with the most tangible impact being the reduction in media-related parties with free alcohol.
Insulation from the Worst: The author acknowledges feeling lucky that their parents’ public service jobs and their family’s position on the lower end of the middle class insulated them from the most severe impacts of the 2008 crisis, though they still feel the reverberations, particularly concerning housing.
Current economic Climate: While acknowledging that a repeat of the 2008 crash seems unlikely, the author recognizes that many people are currently struggling due to the cost-of-living crisis.They suggest that the use of memes and humor to label things as “recession indicators” is a way for people to express their readiness for disaster.
The Underlying Anxiety: The core message is that the widespread use of “recession indicators” reflects a deep-seated anxiety and a feeling of being “poised for disaster” in the current global climate, even if the economic indicators themselves are not definitive.
In essence, the article uses humor and personal reflection to explore how cultural trends can be interpreted as signals of economic unease, driven by a collective sense of vulnerability and anticipation of hardship.