#boomcession
Economists have called the phenomenon a “boomcession,” as regular people feel like they’re being left behind even as the economy is sizzling for the wealthy.
August 24, 2026 at 3:26 AM
ICYMI: The 'boomcession' is here. GDP is up and your paycheck is shrinking: Wages are losing ground to rising prices even as GDP grows and stocks climb. The workers left behind aren't showing up in the data that drives policy
The 'boomcession' is here. GDP is up and your paycheck is shrinking
Wages are losing ground to rising prices even as GDP grows and stocks climb. The workers left behind aren't showing up in the data that drives policy
dlvr.it
August 22, 2026 at 5:12 PM
The 'boomcession' is here. GDP is up and your paycheck is shrinking: Wages are losing ground to rising prices even as GDP grows and stocks climb. The workers left behind aren't showing up in the data that drives policy
The 'boomcession' is here. GDP is up and your paycheck is shrinking
Wages are losing ground to rising prices even as GDP grows and stocks climb. The workers left behind aren't showing up in the data that drives policy
dlvr.it
August 21, 2026 at 5:11 PM
"Boomcession" happens when the economy is doing well and households still can't pay their bills.
qz.com/boomcession-...
What 'boomcession' means for the AI economy
Wages are losing ground to rising prices even as GDP grows and stocks climb. The workers left behind aren't showing up in the data that drives policy
qz.com
August 18, 2026 at 10:17 AM
The 'boomcession' is here. GDP is up and your paycheck is shrinking qz.com/boomcession-...
What 'boomcession' means for the AI economy
Wages are losing ground to rising prices even as GDP grows and stocks climb. The workers left behind aren't showing up in the data that drives policy
qz.com
August 18, 2026 at 10:57 AM
ICYMI: The 'boomcession' is here. GDP is up and your paycheck is shrinking: Wages are losing ground to rising prices even as GDP grows and stocks climb. The workers left behind aren't showing up in the data that drives policy
The 'boomcession' is here. GDP is up and your paycheck is shrinking
Wages are losing ground to rising prices even as GDP grows and stocks climb. The workers left behind aren't showing up in the data that drives policy
dlvr.it
August 18, 2026 at 4:34 PM
The 'boomcession' is here. GDP is up and your paycheck is shrinking qz.com/boomcession-...
What 'boomcession' means for the AI economy
Wages are losing ground to rising prices even as GDP grows and stocks climb. The workers left behind aren't showing up in the data that drives policy
qz.com
August 17, 2026 at 4:05 PM
The 'boomcession' is here. GDP is up and your paycheck is shrinking: Wages are losing ground to rising prices even as GDP grows and stocks climb. The workers left behind aren't showing up in the data that drives policy
The 'boomcession' is here. GDP is up and your paycheck is shrinking
Wages are losing ground to rising prices even as GDP grows and stocks climb. The workers left behind aren't showing up in the data that drives policy
dlvr.it
August 17, 2026 at 4:33 PM
The elite want to tell us the economy is booming! Affordability is a hoax. For the richest 1% oligarch billionaires in the US, biz may well be booming. But not for the lower 99% of us.
#boomcession
#trumpcronies
#oligarchs
February 18, 2026 at 2:51 PM
Or they don’t use models at all; Kevin Warsh is not an economist, he’s a lawyer & political operative...uninterested in academic theory. He cares about corporate profits & capital formation. That probably won’t work out well either. At any rate, we have to start measuring what matters again.
The Boomcession: Why Americans Hate What Looks Like an Economic Boom
The models used by policymakers to understand wages, economic growth, and consumer spending are misleading. That's why corporate America is having a party, and everyone else is mad.
open.substack.com
February 7, 2026 at 12:26 AM
But...a better approach is to try to knit us into one society again. The kinds of policymakers who could try to create metrics to understand the different experiences of classes, and ameliorate them, don’t have power. open.substack.com/pub/mattstol...
The Boomcession: Why Americans Hate What Looks Like an Economic Boom
The models used by policymakers to understand wages, economic growth, and consumer spending are misleading. That's why corporate America is having a party, and everyone else is mad.
open.substack.com
February 7, 2026 at 12:23 AM
But...a better approach is to try to knit us into one society again. The kinds of policymakers who could try to create metrics to understand the different experiences of classes, and ameliorate them, don’t have power. open.substack.com/pub/mattstol...
The Boomcession: Why Americans Hate What Looks Like an Economic Boom
The models used by policymakers to understand wages, economic growth, and consumer spending are misleading. That's why corporate America is having a party, and everyone else is mad.
open.substack.com
February 7, 2026 at 12:22 AM
...the second reason the example of banks overcharging consumers matters[:] Who is more likely to be paying this cost? Rich people tend to get better deposit rates, so the answer is people with lower deposit amounts. That’s inequality, right there, and not income inequality, but spending inequality.
The Boomcession: Why Americans Hate What Looks Like an Economic Boom
The models used by policymakers to understand wages, economic growth, and consumer spending are misleading. That's why corporate America is having a party, and everyone else is mad.
open.substack.com
February 5, 2026 at 1:44 PM
I coined a term for these, economic termites, which companies that find ways of exploiting market power in unnoticeable ways, like monopolizing hospital quality surveys. They ‘contribute’ to consumer spending and GDP, but create no actual value.
open.substack.com/pub/mattstol...
The Boomcession: Why Americans Hate What Looks Like an Economic Boom
The models used by policymakers to understand wages, economic growth, and consumer spending are misleading. That's why corporate America is having a party, and everyone else is mad.
open.substack.com
February 5, 2026 at 1:43 PM
I coined a term for these, economic termites, which companies that find ways of exploiting market power in unnoticeable ways, like monopolizing hospital quality surveys. They ‘contribute’ to consumer spending and GDP, but create no actual value.
open.substack.com/pub/mattstol...
The Boomcession: Why Americans Hate What Looks Like an Economic Boom
The models used by policymakers to understand wages, economic growth, and consumer spending are misleading. That's why corporate America is having a party, and everyone else is mad.
open.substack.com
February 5, 2026 at 1:42 PM
But increasingly, things that feel like taxes are eating up more and more of what people earn. For instance, according to the Personal Consumption Expenditures index, a large chunk of the increase in consumer spending in 2025 was health care, housing and utilities, and financial services.
The Boomcession: Why Americans Hate What Looks Like an Economic Boom
The models used by policymakers to understand wages, economic growth, and consumer spending are misleading. That's why corporate America is having a party, and everyone else is mad.
open.substack.com
February 5, 2026 at 1:42 PM
For instance...the Atlanta Fed came out with a paper showing from “2006 to 2020, poorer metropolitan statistical areas experienced annualized food inflation that was 0.46 percentage points higher than richer ones—amounting to a cumulative difference of 8.8 percentage points over the period.”
The Boomcession: Why Americans Hate What Looks Like an Economic Boom
The models used by policymakers to understand wages, economic growth, and consumer spending are misleading. That's why corporate America is having a party, and everyone else is mad.
open.substack.com
February 1, 2026 at 1:03 AM
Who is more likely to be paying this cost? Rich people tend to get better deposit rates, so the answer is people with lower deposit amounts. That’s inequality, right there, and not income inequality, but spending inequality.
open.substack.com/pub/mattstol...
The Boomcession: Why Americans Hate What Looks Like an Economic Boom
The models used by policymakers to understand wages, economic growth, and consumer spending are misleading. That's why corporate America is having a party, and everyone else is mad.
open.substack.com
February 1, 2026 at 1:01 AM
Who is more likely to be paying this cost? Rich people tend to get better deposit rates, so the answer is people with lower deposit amounts. That’s inequality, right there, and not income inequality, but spending inequality.
open.substack.com/pub/mattstol...
The Boomcession: Why Americans Hate What Looks Like an Economic Boom
The models used by policymakers to understand wages, economic growth, and consumer spending are misleading. That's why corporate America is having a party, and everyone else is mad.
open.substack.com
February 1, 2026 at 1:01 AM
For instance, according to the Personal Consumption Expenditures index, a large chunk of the increase in consumer spending in 2025 was health care, housing and utilities, and financial services. These are “non-discretionary,” meaning people have to pay them.
open.substack.com/pub/mattstol...
The Boomcession: Why Americans Hate What Looks Like an Economic Boom
The models used by policymakers to understand wages, economic growth, and consumer spending are misleading. That's why corporate America is having a party, and everyone else is mad.
open.substack.com
February 1, 2026 at 1:00 AM