I would not say it's a new thing historically, this is why it's been important to have strong (decently large, and broadly spread throughout the economy and geo

I would not say it's a new thing historically, this is why it's been important to have strong (decently large, and broadly spread throughout the economy and geographically) middle class. And that middle class has been squeezed. Poor people don't buy much stuff, and there aren't that many rich people.