This writer had no idea what Labubu is, or why it's a craze. According to Google, Labubu are 'collectible plush toy monster elves' created by a Hong Kong illustrator.

And they're the hot toy -- kind of like Pokemon cards and fidget spinners.

Most people would read a toy craze as good news. But some economists warn it's really a sign of a coming recession:

Here's more from the New York Post:

Labubu dolls have been spotted dangling from Louis Vuitton and Saint Laurent purses as fashion’s quirky new status symbol, but their popularity could soon spell doom for the economy, an expert warns.

During economic downturns, consumers gravitate toward what experts call 'affordable luxuries' — small, dopamine-spiking splurges that don’t break the bank — like lipstick, ice cream or movie tickets, studies have shown.

It’s sometimes called the 'lipstick index' — and the creepy but cute mischievous dolls could be its latest iteration.

'When we’re seeing this kind of a craze in an uncertain economic climate — where consumer confidence is at best uneven and filled with anxiety — it’s hard not to look at this and try to think, ‘well, are people being rational?'' said David Lang, Sacramento State Economics Department chair.

And this is why no on trusts the experts anymore.

The 'experts' were calling for a recession back in April, too.

Absolute clowns.

Literally grasping at straws now.

Yup. Just look at Labubu sales instead.

Possibly.

We bet the Venn diagram of the economists cited in this story and those who criticized President Trump's trade policies is a circle.

Remember when people collected Beanie Babies thinking they'd be an investment worth thousands (or more) down the road? Good times.