No-one is quite sure what 'The Economy' is
No-one is quite sure what 'The Economy' is, because the nature of money is not properly understood. For example, it is not generally realised that it is a function of government to ensure the money supply is adequate and appropriate, so if the society is faltering through lack of money the government should immediately create more money. That is, it should create money to fund the repair and extension of infrastructure: roads, rail, sewers, electricity and gas supply, communication networks, etc. Because these projects not only relieve the lack of money by creating jobs but also improve the efficiency of society, so boosting its ability and confidence.
This was confirmed by the example of Nazi Germany, which immediately started to improve its road networks and military strength, thereby creating jobs, confidence and money, while speeding up road transport and strengthening national security.
Economic Depression is stagnation and decay
If governments fail to do this then Society must enter an ever-worsening financial depression. Then, because most citizens do not have a secure and adequate source of money, they reduce their spending, which, because of reducing sales, forces companies to follow suite by reducing staff and services, which in turn reduces the money available to most citizens. Thereby creating a 'vicious circle' of an ever-shrinking money supply, deteriorating infrastructure and economic stagnation. Hence:
A more detailed description of Western civilisation's economic collapse is described in "America: What Went Wrong" by Donald Barlett and James Steele (1992). Though it is about the decline of commerce in the USA, the influences and the outcomes are the same for all of those countries making up Western Civilisation.
Despite the reporting of mass redundancies, company closures and corporate failures, the media plays the same role as it did during the last Great Depression (1929-1944) — it reports only that the economy is doing well or about to boom. Even the rare truthful article incorporates the notion that somehow, despite the fact that most people struggle to make ends meet, the economy is sound. False claims made inevitable by the community's hatred of truth.