My armchair macroeconomic take is Covid should have been an enormous financial depression but they flattened the curve and caused bubbles in some cases by print

My armchair macroeconomic take is Covid should have been an enormous financial depression but they flattened the curve and caused bubbles in some cases by printing so much money we’ll be paying the price for decades. It was certainly a huge reallocation/consolidation of wealth. I even think the somewhat untold story is just how much less well off a lot of Americans are. Like in my world, what I’ve seen amongst my access to HR data at a handful of large companies, the executive class (maybe VP and up) did great, the low/minimum wage class did great (labor shortage helped wages net of inflation), but there’s a huge mass of people in the middle that perhaps are only making 10% more than their 2019 wage right now after all the inflation. House prices ~doubled so unless they were already a homeowner acquiring one is basically impossible now, especially with rates were they are. They didn’t own much stock so largely did not participate in that either. It’s a different world and I think we can’t say for sure what will happen next.