The Controversy Surrounding the 'Silent Depression' of 2023
TikTokers are claiming that the current economy is in a "silent depression," comparing it to the Great Depression, despite experts pointing out flaws in the comparison. While prices for housing and other goods have increased significantly since the 1930s, experts argue that the existence of social safety nets and improved living standards make it an unfair comparison. However, young people today still face challenges such as student loan debt and high rent, leading to concerns about achieving homeownership and a sense of economic insecurity.