The 'Vibecession' Is Over. The 'Permacession' Is Here
Americans are expressing significant dissatisfaction with the economy, despite positive economic indicators. The University of Michigan's consumer sentiment index has reached its lowest level since 1952, reflecting widespread pessimism across various demographics. This sentiment has led to the characterization of the current economic climate as a 'permacession,' indicating a long-term belief that economic conditions will not improve.
- ▪The University of Michigan's consumer sentiment index dropped to its lowest point since 1952.
- ▪A poll showed that only 43 percent of potential Republican voters rated the economy as 'excellent' or 'good.'
- ▪Despite a booming stock market and low unemployment, Americans are experiencing deep economic pessimism.
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IdeasThe ‘Vibecession’ Is Over. The ‘Permacession’ Is Here.Why Americans are so unhappy.By Annie LowreyIllustration by The AtlanticMay 24, 2026, 7:15 AM ET ShareSave Listen−1.0x+Seek0:0016:17According to Americans, it is bad out there. Real bad. This month, the University of Michigan’s index of consumer sentiment dropped to its lowest point since 1952, when the survey started. A poll of potential Republican voters found that just 43 percent rated the economy as “excellent” or “good” and 55 percent as “fair” or “poor”; for potential Democratic voters, the shares were 5 percent and 94 percent, respectively. Low-income families are nervous, and so are high-income ones. Students and retirees are dour. Rural and urban voters are dissatisfied. People are worried about the present and future.
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Excerpt limited to ~120 words for fair-use compliance. The full article is at The Atlantic.
