This post is mostly for my US-based readers, but everyone is welcome to read it. It horrifies me to see how false the reality that the establishment paints is.
I am afraid people don't see financial crises anymore. The media tells them we are in a boom. Governments tell them everything is great. Meanwhile, they are unemployed or underemployed, living paycheck to paycheck. They fail to grasp that everyone else is living in the exact same insecurity. The media is simply not showing the truth.
I remember how colleges preyed on high school students by falsely promising that they would get a high-paying job after graduation. They were told they would make $45,000 right after graduation. Of course, none of it was true. But the myth allowed them to live in a blissful complacence. Anyone with a different opinion was not allowed in schools. They discovered the truth only after graduation. Unfortunately, they had racked up thousands of dollars of student debt by then. It was not good debt, no matter what people say.
The same I see again when governments tell their people that the economy is great and people have jobs. In reality, people are mostly unemployed or underemployed. They are living paycheck to paycheck, barely keeping a roof over their head. Many of them have education and credit card debt. They were promised that they would make a lot of money only if they finished college. They were simply lied to in order to make them pay. Now, even employers can suck more work out of them per dollar because they [employers] know that have no choice. A good number of them will never own a house. They have been enslaved.
People are really far poorer than the media is telling. Individuals, I am afraid, are underestimating how widespread economic hardship is. Since they see only what on social media and on TV, they are largely unaware of the facade. Most people are just as poor and helpless as they are. They just don't talk about it on social media or on TV. Just when have you seen people talking about being on welfare, being in debt, or making barely more than the minimum wage? When have you seen people admit that they don't own most of their assets? Most people don't even own their cars. They purchase on credit. Most of them have little to no savings. They are only a few paychecks away from eviction.
There are folks who apply for more than 500 jobs to land one. They stay unemployed for years. And these are not just a few people. In fact, only a few people are living the life that the establishment says everyone is living.
Therefore, don't fall for what the media is telling you. Social media is a den of lies anyway. Don't fall the statistics either. They can easily be manipulated. Remember they said college graduates are employed within 6 months and earn a decent income? They made that point with a chart that compared the average income of high school graduates with that of college graduates. Those were all lies. Don't fall for the false reality the establishment is presenting you.
Here's a related and relevant article from American Institute for Economic Research.