Looking at the economic impact of the last 18 months, it looks like the outcome should be very K-shaped. Using the USA as an example, I'd expect:
High Earners
- Steady paychecks
- Assets prices to the moon from money printer go brrr
- Stimmy checks
- High probability of WFH
Low Earners
- Layoffs from lockdowns
- Inflation to the moon
- Stimmy checks (that don't offset having no job)
- School closures forcing them to keep a parent at home for childcare or pay $$$ for childcare
Looking at this, I can see why white collar workers are blase (e.g. if your grocery bill went up $100, and your investments went up $100,000, the grocery bill barely registers), but why aren't low earnings flipping their shit? This seems like an utter disaster for them that isn't going to get better. Have I been hiding under a rock and missing widespread freak-outs? Is there some factor that's keeping a lid on social unrest for low earners who got bent over like a cheap hooker by the lockdowns?
Looking at the economic impact of the last 18 months, it looks like the outcome should be very K-shaped. Using the USA as an example, I'd expect:
High Earners
- Steady paychecks
- Assets prices to the moon from money printer go brrr
- Stimmy checks
- High probability of WFH
Low Earners
- Layoffs from lockdowns
- Inflation to the moon
- Stimmy checks (that don't offset having no job)
- School closures forcing them to keep a parent at home for childcare or pay $$$ for childcare
Looking at this, I can see why white collar workers are blase (e.g. if your grocery bill went up $100, and your investments went up $100,000, the grocery bill barely registers), but why aren't low earnings flipping their shit? This seems like an utter disaster for them that isn't going to get better. Have I been hiding under a rock and missing widespread freak-outs? Is there some factor that's keeping a lid on social unrest for low earners who got bent over like a cheap hooker by the lockdowns?
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