During periods of inflation the economists/propagandists can use inflated numbers to show “growth” while everything is trash for the average consumer.
That's exactly it. Over the past year, my net worth has increased slightly, if I go simply by the total of the various accounts. When I allow for inflation, it's a considerable loss. No, I don't think I'm better off financially than I was a year ago.
Exactly.
But…. When inflation outpaces real wage growth , you take a pay cut. This had happened month over month for years under Biden. People look and say I made more money than year than last then notice all their credit cards are maxxed out and cant figure out why.