Originally Posted by
Koyote
No one claimed that "there has been no inflation in the past 40+ years."
I could easily give you three anecdotes to prove the opposite, but that's all rather pointless. The plural of "anecdote" is not "fact."
Bingo. Median real wage rate is actually
higher than 40 years ago - meaning that the typical person has MORE purchasing power.
Facts are stubborn things: they still exist, even when people refuse to believe them.
Post some facts. Maybe someone might believe you.
After adjusting for inflation, however, today’s average hourly wage has just about the same purchasing power it did in 1978, following a long slide in the 1980s and early 1990s and bumpy, inconsistent growth since then. In fact, in real terms average hourly earnings peaked more than 45 years ago: The $4.03-an-hour rate recorded in January 1973 had the same purchasing power that $23.68 would today.
https://www.pewresearch.org/fact-tan...d-for-decades/