U.S. dollar purchasing power lost 20% since before the pandemic

It is widely known that Americans’ purchasing power has vanished over the last 100 years.

But the last few years make the time before the coronavirus pandemic seem like a period of fiscal responsibility.

Here is Federal Reserve data showing that the U.S. dollar’s purchasing power has cratered 20 percent since even before the COVID public health crisis:

Now, this is assuming that the U.S. government is being forthright with inflation data. Of course, everyone knows that the consumer produce index (CPI) is bunk and the annual inflation rate is much higher than four percent.

That said, this is a disgrace in the world’s largest economy.