Kevin Drum sums up the latest data about how wealthy Americans think they are:
And as dramatic as that sounds, it’s actually even more dramatic than those bare words suggest. Class self-identification is deeply tied up with culture, not just income, and this decline means that a lot of people—about one in six Americans—now think of themselves as not just suffering an income drop, but suffering an income drop they consider permanent. Permanent enough that they now live in a different neighborhood, associate with different friends, and apparently consider themselves part of a different culture than they did just six years ago.
Or, as the lackeys of the capitalist class over Forbes might put it:
The last six years have been unrelentingly beautiful.