There was an unacknowledged recession in Q1 and Q2 of 2022. Go look at the data, particularly real GDP per capita growth, it was negative for both quarters. The Conference Board gave it a pass as it was short, shallow and insignificant. The not headline story is that real GDP per capita growth is small, tiny. With the top decile taking all the benefit so almost no Americans in the current economy are doing better, read that most Americans are doing worse. I doubt the data is out there but if you had the plots of real net worth growth by decile for Americans it would show the at least the bottom 7 deciles getting poorer with the bottom 3 with increasingly negative net worth.

TEK