The main good that determines whether you think the economy is good or bad is slack. How much headroom is there between what you are going to buy and what you can afford to spend? 1/
@interfluidity Right. Could also describe it as freedom to save (or not). But need to consider capital gains accrued and accumulated over years/decades as saving to think in terms of lifetime income/saving and spending. (Also considering difficulty/cost of spending from home equity and 401s/IRAs.)