One internet meme has recently gone completely viral. It draws on our shared retro-futurism of that optimistic mid-2000s era, before the GFC of 2007-2009 changed everything. This cultural phenomenon has emerged at a time when Australians are facing significant economic stress, such as rising interest rates and a cost-of-living crisis. Well, experts think that’s because this particular meme taps into Americans’ fears about the state of the economy today. On the other hand, that’s what makes it so reassuring in all of this chaos.
Dr. Zhong, a prominent psychologist, urged validation for these anticipatory feelings of anxiety. He stated, “I can acknowledge that the past few years have been hard for a lot of Australians, with interest rate hikes and the cost-of-living crisis.” For goodness’ sake, I hope everyone has a chance to experience that sense of calm over anything as big as an entire life plan! Dr. Zhong added, “Let’s acknowledge the fact that we have seen some decrease in interest rates already,” highlighting a glimmer of hope amid ongoing challenges.
The Roots of the Meme
The meme was originally based on this tweet from 2019. It cynically framed some recent cultural happenings as markers of an oncoming recession. Since then, it has morphed, comparing today’s economic indicators with an uncanny valley of nostalgic references from yesteryear. In particular, Lady Gaga’s emergence as the unexpected Coachella headliner and the now-infamous avocado smash have turned into pantheon symbols inside this satire-based structure.
Dr. Scully, a cultural analyst, pointed out that similar nostalgia emerged after the Great Depression, illustrating how past economic crises have historically influenced societal sentiments. He noted, “If you’re going to have a society that allows for free speech and free political expression, you have to have something like this kind of satire.” This fictitious line points to a real-world truth about the tremendous potential of humor and satire to speak truth to power.
The viral meme apparently rung the bell for a number of influential public figures. Even passionate promoters like Ed Sheeran and Spotify have sung its praises in their own distinctive styles. In the words of Australia’s Prime Minister, Anthony Albanese, you would see “the writing on the wall.” He described shuttered caravan parks and “for rent” signs on businesses as examples of the uncertainty permeating normal life around the country.
The Role of Memes in Coping with Stress
Research conducted during the pandemic revealed that sharing memes through platforms like WhatsApp helped individuals cope with stress in Spain. These often humorous depictions lifted spirits when they were most needed, showing that joy can be a form of resistance and even a potent weapon in the face of evil. Dr. Zhong noted, “These are used because people find that they’re relatable,” underscoring the importance of connection in times of anxiety.
Dr. Scully elaborated on this phenomenon, stating, “It creates communities, communities of contempt, anger and disgust, which are pretty powerful emotions.” The gift of bringing people together through shared experiences with laughter creates community for those who have had to overcome similar obstacles. He added, “All you really need is a computer and an image, text and the platform to disseminate,” emphasizing how accessible meme creation has become in today’s digital landscape.
American consumers are already starting to feel the pinch as prices for necessities go up and GDP drops. Unsurprisingly, meme culture focused on the impending economic doom is picking up steam. This cultural dialogue is a beautiful and transformative form of resistance, healing and coping. Not only is it good art, but it is helping Americans process their feelings about the economy.
The Future of Economic Memes
The continued topicality of these memes, as a critique of the economic situation of today, makes one wonder how pertinent the sequel will be. Dr. Scully was quick to remind us deluges like this one have already occurred previously. In the 1990s, listeners associated Pink Floyd albums with recessions – the best evidence that Americans have a cultural history of correlating artistic metaphors with economic hard times.
Moreover, he argued that satire remains crucial for public discourse: “Otherwise people won’t be sharing memes. They’ll be sharing plans for the next revolution.” This highlights how humor can serve as an outlet for frustration while simultaneously fostering community among those who feel discontented with their circumstances.
