Quite the contrary, income growth post-covid has disproportionately favored lower income groups[1]. White collar working professionals captured a disproportiona

Quite the contrary, income growth post-covid has disproportionately favored lower income groups[1]. White collar working professionals captured a disproportionate amount of the growth from the previous recovery as a result of over inflated speculative bubbles resulting from low interest rates lasting nearly a decade. Easy to justify speculative tech companies when you don't need to be profitable any time in the near future, but when interest rates are >0% reality sets in. The idea that the crunch is now hitting the "real" economy is a bit out of touch, but given HN's demographics it's not surprising there's so much screeching. [1]https://www.dallasfed.org/cd/communities/2022/0808 https://www.dallasfed.org/cd/communities/2022/0808