There is a shallow kind of happiness that just looks at how things are going for me at the moment and is so focused on my little world that the pain of others doesn’t even cross the radar. To someone like this, the world looks great as long as their good fortunes last. This same person will also see the whole world in deep shades of gray when their fortunes go south.
There’s a deeper kind of happiness (although I much prefer the word “equanimity” to describe this) that comes from recognizing that life is necessarily a mixed bag, and that neither pain nor pleasure is a lasting condition. This state sees the good and the bad with equal clarity, without projections, and takes them both in stride.