I think it really is already beginning. I've noticed in my own case that there are things I'm doing without--but I'm also seeing grocery prices particularly rising & am trying to decide what I can do without in the long term. Can't imagine how ppl on an even tighter budget than mine will manage. 😢
I'd go further and say that already happened and not recently. Prices have been out of control for a lot of people for a long time. When's the last time people felt housing was affordable? This isn't a R vs D problem, its systemic but not to say both parties are the same, they are not.
Capitalism, the stock market, profit margins, and overall greed has just gone off the rails. Reagan began the U.S.’s shift from a manufacturing economy to an investment economy and it was off to the races.
Rich vs poor
I'm rationing food.
😢