Yes - and it 's going to happen a lot sooner than people think.
The next round of 'quantitive easing': printing massive amounts of money, by the Fed, Bank of England etc, along with maintaining interest rates down around zero (when the banks are only lending money to each other) lowers the value of savings (devaluation) and property (negative equity). These are the two elements that largely define the middle class.
America is also engaged in a currency war with China - it is trying to force up the value of the Yuan by devaluing the dollar. This will also lower the value of savings and insurance policies - along with health cover. Health bills are the biggest single cause of bankruptcy in America.
Furthermore, America's banks (along with all the big central banks) are - in effect - bankrupt because they are carrying undeclared 'bad debts' and toxic mortgages to-the-tune-of trillions of dollars.
Now this might sound a bit counter-intuitive but the banks aren't really interested in paper money anymore. They are frantically trying to convert money into something that has intrinsic value. This is why the banks are attempting to claw back wealth and influence by using the money that has been given them by the taxpayer to buy up food stocks and future stock futures.
This is driving up food prices - and destabilizing economies - all over the World.
Things are beginninig to look pretty grim - and not just for the American middle class.
You can blame all of this on the banks - and their cronies in government.