I wouldn't expect that it's the sole cause of the current instability and troubles (there are a number of other obvious sources of perturbation), but it can't b

I wouldn't expect that it's the sole cause of the current instability and troubles (there are a number of other obvious sources of perturbation), but it can't be entirely irrelevant that we've been going for ~50 years with minimal increases in real wages, and vast increases in income and wealth at the top, and then thrown in on top of it a global pandemic, a war in Europe creating supply shocks (particularly in energy), and now very, very clear signals that if you're not part of The Elect (rich non-queer white men), you're going to have your rights stripped away from you, including your (effective) right to vote (if you're a minority or queer in a red state) and your right to bodily autonomy (if you have a functioning uterus). These things can have a real effect on how, and whether, people choose to spend.