Some of what they’re pointing to is inflation.
It’s inflation. I am gen X, very well paid, and I can’t afford the things that my Boomer relatives could even though I earn significantly more than they did. All the financial schemes over the last 6 decades, private and public, have made everything so expensive that even someone with a six figure salary struggles to make ends meet. And Covid really tipped the apple cart over - even more inflation.
The cost of everything is astronomical, it can all be lain at the feet of the Federal Reserve, Congress and debt.
I saw a video that showed a 1971 Datsun, that sold for $1,780 new. In that year, I was a 17 year old, soon to be 18 year old, who made $1,120 a month gross as a Carpenters apprentice. I had side jobs, and lived with my parents paying them $25 a week for rent.
I could have purchased this new car in 6 weeks of savings. The house we lived in, my parents bought in 1965 for $17K.
Inflation is a scam, it is deflation of the worth of Money. 40 Million Billion in debt does that, commonly referred to as 40 Trillion dollars.
We are poor, because our currency is debased.
How many have a few thousand silver coins? 1K Silver dollars are worth $70K more or less right now.
A US dollar should have the same purchasing power. It doesn’t, because its worth was stolen for the rich to get richer, and the working class to be slaves.
The equivalent pay for a person making $7 an hour in 1970 approximately would be $490 an hour. It is not, it is closer go $40 an hour in reality.
Our country and WE THE PEOPLE, are now debt slaves, only a very few ever make it out ourselves to generational freedom.