Your statement may sound a bit harsh or selfish to someone who does not have a stock portfolio or have large investments in energy companies. A sizable increase in fuel prices has a significant impact on a majority of people in North America. If you are living from check to check, hearing how well oil company profit margins and someone's stock portfolio is doing may ring a little hollow.
Yes, that is true. However having a robust stock market that can sustain higher prices means economic growth in the country. That produces more jobs and many of the people that have almost lost everything because they have not managed to pay off debt and planned to do it early will be able to come back, find a job, and get a new start. They may not have big trucks and campers anymore, but they may be able to take their families out more economically and all that is good.
I worked overtime to pay for my two kids fun and still had to give the ex her share too, and took on a huge house with the idea that it would be paid out much earlier than full term. Part way into paying it off, I took out the equity and invested it into a dreadfully sunken stock market. That gamble worked. Meantime, I had an old camry that ran and ran and ran. Things worked out, but we all did without a lot when we were younger and debt was a really dirty word.