Eric Hovde: “They collapse the purchasing power of everybody's dollars by…”

“Why? Because they have been. We've never had real wages decline for three years in a row. That's wage increases subtracted for the rate of inflation because They collapse the purchasing power of everybody's dollars by 22%. If you measure inflation the way they measure it now, but if you took the way they measured inflation back into the eighties, it's almost a decline by 40%.” (01:08–01:14)

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