when the value of your currency declines it has a two fold affect: it raises your cost of living and lowers your real earned wages. You take a hit at both ends. While the wages people earn has "theoretically" risen over the years, it is a well documented fact that adjusted for inflation wages have actually gone down. the "wealth effect" is in fact an inflationary illusion. Such as the illusion you have of getting something free at a casino. They bring you a free drink as you sit at the craps table and you think "how nice, a free drink" meanwhile, the dealer takes your chips off the table because you lost and the house won...again. So was the free drink worth it? Did it compensate for the lost chips?
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