The COVID-19 pandemic has sparked a growing trend on social media platforms, including TikTok, as users prepare for a potential recession. Kim Casamento, a 32-year-old content creator, found an original vintage cookbook that resonated with her current economic concerns while shopping in New Jersey. Seventeen years after its publication, the guide to feeding a family of four for $7 or less remains relevant due to rising food prices and consumer sentiment.
Casamento’s TikTok videos, featuring recipes from The $7 a Meal Cookbook, have gained nearly 700,000 views and sparked conversations about the state of the economy. Her content, combined with that of other creators like itzettromero and Vivian Tu, has led to a surge in recession-prep videos on TikTok. Over 130,000 videos now use the hashtags #recession or #recessionproof.
Economists Sofia Baig notes that while consumer confidence is lower than during the Great Recession, actual economic performance remains within healthy ranges. The unemployment rate, inflation rate, and gross domestic product are all within target limits. However, people’s expectations can influence spending habits, potentially adding to the likelihood of a recession if they change their behavior due to economic concerns.
Baig believes that the current recession-prep trend on social media is more about “vibes” than actual correlation into action, as spending data shows no significant slowdown. Younger people are actually spending more on discretionary purchases, such as entertainment and leisure activities. The hard economic data is currently stable, but economists caution that rising uncertainty can still have a negative impact on the economy.
As the US economy navigates uncertain times, social media users are taking matters into their own hands, sharing their concerns and preparing for potential economic downturns. While it’s unclear whether these efforts will lead to actual changes in spending habits, they demonstrate the growing awareness of economic issues among Americans.
Source: https://money.com/recession-prep-tiktok-trend