[hshdhdhj4444]

The Biden administration missed this completely.

They looked at headline numbers and saw that everything was improving and couldn’t understand why people were behaving as if we were in a recession.

The current situation is a lot worse. Everything isn’t improving. It’s improving but more slowly, flat or getting worse. So the administration is reduced to pointing to the only things that are improving (albeit more slowly). Hence the Attorneh General’s infamous response in her congressional hearing on the Epstein files, that the Dow was over 50k.

Ultimately it comes down to the K shaped economy. The upper arm of the K is doing better than the lower arm is doing worse, so the average is a rise, but in reality the number of people in the lower arm is significantly greater than the number of people in the upper, hence the “vibecession”.