With middle class incomes stagnated since about 1980, it's no surprise everybody feels a lot poorer now. They have a quarter of the effective income people in a similar position had in 1980.

that is not my understanding. how are you defining "effective income"

If everything gets 4 times as expensive but your pay stays the same, you can only afford 1/4 of what you used to.

Correct, but I do not believe that is the case.

I think both pay has gone up over time and tracked with inflation. I also think the things people are buying better and more expensive products than they did before.