Are We Heading for Another 2008? How Rising Tariffs Are Fueling American Recession Concerns

A few weeks ago, Kiki Rough started feeling uneasy about the economy. Reminded of past financial struggles, she began creating cooking videos based on recipes from tough times in history, like recessions and wartimes. Kiki, who learned to cook on food stamps, shares money-saving meals and encourages viewers to swap ingredients with whatever they already have on hand.

“I keep seeing this joke in the comments: ‘The old poors teaching the new poors’,” she said in an interview. “We need to share knowledge right now because everyone is scared. Learning can help us navigate tough situations.” Kiki’s videos have gained traction on TikTok and Instagram, attracting over 350,000 followers and captivating audiences with 21 million views recently.

With rising anxieties about the U.S. economy, many are turning to lessons from the Great Recession of 2008. Google reports a spike in searches for terms like “Global Financial Crisis,” with interest hitting levels not seen since 2010. This trend reflects how deeply the last recession impacted many people’s lives, leaving lasting memories and hard-earned lessons.

On platforms like TikTok, Millennials and Gen Xers are stepping up to share their experiences. They’re advising younger generations on how to save money during troubling times. Some Gen Z users, too young to have faced the 2008 crisis, are asking for insights on what a recession feels like.

Scott Sills, a marketer and life coach, notes that this is the first time Millennials can be the “experts” on economic downturns. “We’re the experts on getting the rug pulled out from under us,” he says.

Old habits are resurface as creators reminisce about their frugal pasts. Porkchops and “jungle juice” became symbols of life during the Great Recession. These affordable staples now remind people of that challenging time, highlighting a resourceful past that resonates with many today.

However, rising inflation poses new challenges. Across the board, prices for everyday items have skyrocketed, leaving many struggling. Kimberly Casamento, who shares budget-friendly recipes from a 2009 cookbook on TikTok, notes that the cost of low-budget meals has increased by 100% to 150%. “Every aspect of life is so expensive,” she remarks. “If you can cut your meal cost by $5, that’s a win.”

Megan Way, an associate professor at Babson College, points out that sharing advice during hard times is a natural human response. Instead of gathering in kitchens, people are now exchanging ideas online. “It’s a very human thing to reach out when uncertain,” she explains. “Feeling connected helps us feel prepared.”

Interestingly, Americans are quick to reference the Great Recession because it was profoundly felt nationwide. Yet, there’s a notable difference today: the lack of the bad debt that caused the housing crisis back then. Despite this, feelings of uncertainty loom large today, fueled by economic concerns and broader social issues.

As tension builds, it’s clear that people’s economic confidence is diminishing. The University of Michigan recently reported one of its lowest consumer sentiment readings in decades. This anxious atmosphere has sparked discussions on social media, with some joking that divorce rates are rising again—despite data suggesting they actually declined during the last financial crisis.

Cultural parallels to the late 2000s are also popping up online. For instance, social media trends reflect nostalgia for past dance crazes and shared experiences, signaling a collective memory of resilience. Popular music from that era is resurfacing, with artists like Miley Cyrus and Lady Gaga topping charts. Katy Perry is even kicking off a world tour, reminding us of how music can uplift spirits amid challenges.

As we navigate today’s uncertain economic landscape, it’s interesting to observe how communities come together. By sharing tips and experiences, we can find comfort and creativity in a tough world. Sharing knowledge is more than just saving money; it’s about building resilience for challenges ahead.



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