> A hard thing to wrap your head around in economics is the idea that two opposite things can be true at once.
> Consumers are in the best shape they’ve been in, ever.
> A huge portion of consumers think that’s bogus because they’re in the worst shape they’ve been in, ever.
> Both are true.
They're not. Workers, whether they've materially done well through the pandemic, or not, are sufficiently lucid to see that this all has to be paid for. And they're the ones who will pay for it.
Unlike the author, who is blindsighted by, and even marvels at, the "huge" numbers, unable to see more than a few months down the line.
A worker may be in a house that's booming in value with a tech salary and buying lots of nice things from Amazon and deliveroo but he can see the world outside.
Workers aren't atoms spread apart in a vacuum. They know people friends and family who aren't doing as well as themselves, or vice versa.
So there is no contradiction in terms. Things are bad full stop.