This is absolutely one of the results of a financialized, and crony economy.
When the dollar was detached completely from gold, that is when the dollar was detached from REALITY, the Fed became free to print and manipulate as it pleased. Those close to the Federal Reserve spigot, Wall Street and government, were given a huge advantage as they are first to get their hands on any new money the Fed decides to create in a truly fiat system.
But as truly fiat money (paper money without the backing of gold/silver etc.) moves into the broader economy, the economy most of us live in, inflation bubbles. OUR money is worth less than it was when Wall Street (and some others) originally got their hands on it. And the cycle repeats.
The cycle has repeated for over 4 decades now and we see it in middle (class) America.
(From The USA Today)
Despite an unemployment rate that has reached a 50-year low of 3.7 percent, most jobs across the U.S. don’t support a middle-class or better lifestyle, leaving many Americans struggling, according to a new study.
Sixty-two percent of jobs fall short of that middle-class standard when factoring in both wages and the cost of living in the metro area where the job is located, according to the study by Third Way…
Sadly in the attached article there is no mention of the real reason for the continued and increased stress on the middle class, though it takes a good little snapshot.