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It's Been a Minute

Lipstick, sunscreen, & this podcast are recession indicators

It's Been a Minute

NPR

News Commentary, Society & Culture, News, Spirituality, Religion & Spirituality

4.68.8K Ratings

🗓️ 11 April 2025

⏱️ 20 minutes

🧾️ Download transcript

Summary

Global markets got a case of the jitters this week in the wake of President Trump's global tariff policy. Everyone from hedge fund managers to online content creators have been starting to question the stability of America's economic trajectory. We're now seeing increased fear that a recession is just around the corner.

Brittany is joined by co-host of NPR's Indicator podcast, Wailin Wong, and co-host of NPR's Planet Money podcast, Jeff Guo. Together, they discuss how this moment connects to the economic anxiety of 2008 and why the definition of a recession is a bit harder to pin down than you might expect.

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Transcript

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0:00.0

Psychologist Dolly Chug studies the lengths we will go to protect the way we see ourselves.

0:07.3

We care about whether we're seen as a good person, whether others see us as a good person, and whether we feel like good people.

0:16.0

Ideas about our self-image. That's on the TED Radio Hour podcast from NPR.

0:26.5

Hello, hello.

0:28.0

I'm Brittany Luce, and you're listening to It's Been a Minute from NPR,

0:31.7

a show about what's going on in culture and why it doesn't happen by accident.

0:43.2

Yeah. culture and why it doesn't happen by accident. All right, all right.

0:44.6

This week, we are connecting the dots between chaparone, skincare dupes, and the Nintendo

0:50.6

Switch.

0:52.6

I know, I know.

0:53.9

How are all these things connected?

0:55.6

Well, we are going to find out with co-host of NPR's Indicator podcast, Waylon Wong,

1:00.5

and co-host of NPR's Planet Money podcast, Jeff Guo.

1:03.8

Waylon, Jeff, welcome to its minute.

1:05.8

Amazing to be here.

1:07.5

Hi.

1:08.7

All right.

1:09.3

So, I have a question. What is your favorite unscientific recession

1:14.1

indicator? Lipstick. Lipstick. Yes. So one thing that happens in a recession is, you know,

1:21.4

people are spending less, right? But that doesn't mean they're spending less on certain things. And

1:27.2

sometimes what happens is you see people looking for little luxuries, right?

1:31.3

Like they can't afford the big, expensive thing, but they're going to buy a little thing just to keep their spirits up and to, you know, make the recession feel less bad.

...

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