Risks Are Growing of a Double-Dip ‘Vibecession’
Last year, Kyla Scanlon coined the term to describe the state of the US economy. The vibes are souring anew.
Are we heading back into a vibecession?
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The US may be heading back into a “vibecession” — a condition in which consumer confidence and other economic “vibes” decline so much that they threaten to become self-fulfilling prophecies and drag the economy down with them.
Content creator (and Bloomberg Opinion contributor) Kyla Scanlon coined the term last year to describe the weird environment in which the US found itself, but by mid-summer this year, a variety of gauges suggested that confidence had bounced back. At the time, I wrote that the vibecession was over, and Scanlon generally agreed. Unfortunately, some preliminary signs are indicating that we’re backsliding.