The number of job titles has grown. Not enough younger people for the trades. Many younger people marketing and building businesses online. Not enough immigrants for basic labor. Trading of jobs for better pay means there is more demand in the economy. This last point is a hallmark of a demand side economy. The recessions in the 50s and into the mid 60s often very shallow.
There is fallout. There can be less income if you own your own business currently. There can be lower profits in corporate America than in 2021.
The real problem again is what I am speculate for the financials if China has a Lehman Brothers moment of their own. At any time the apple cart in finance can get flipped over.
I would not recommend owning Wells right now.