I was listening to a podcast the other day, and one of the hosts made a point that I’ve often thought of and is worth remembering:
There are two metonymies going on: one metonymy is mistaking the stock market for the economy; the other is mistaking the economy for life… We could all live in a country with a terrible economy but be much happier and much more prosperous because of other factors. And so I just worry in general about using the economy as the barometer for anything right now, much less the stock market.
Slate Political Gabfest, The “Two Trillion Dollars” Edition, March 26, 2020
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