I don't see what stocks and other investments going down has to do with this, unless most middle class people are leveraged against their portfolio value, which

I don't see what stocks and other investments going down has to do with this, unless most middle class people are leveraged against their portfolio value, which I doubt. This is really a story about inflation and the value of cash savings and earnings decreasing. The only people who benefit from inflation are debtors, specifically those whose debt interest increases slower than inflation / interest rates - or not at all. This also benefits low income earners, but they are hit harder by rising prices.