Real disposable income is decreasing at an alarming rate. With all the inflation, unemployment, higher education costs for our kids and everything else, it's just becoming too hard to cope up with all the real life challenges.
Indeed! There are a lot of lies being told to people-- one of the biggest is the myth of "The Economy" as told by governments around the world-- be that in Pakistan, the USA or anywhere else. Sure, "the economy" is better as measure by how much oil we pull out of the ground and what the corporations are making, and the position of the stock market. But these numbers mean little to the average person on the street.
People may be "making more than ever" but if the cost of actual living-- inflation, education, insurance, housing, food-- amounts to "more than ever x1.5" that becomes a meaningless statement.
Absolutists point to the fact that there are fewer people living in "absolute poverty" than ever before... to me that's very close to a straw man argument; sure "there would be no poverty" if we all ran around in the woods with sticks, wearing only a loincloth. Possibly true, but has little to do with the real world as it currently exists.
That is absolutely correct. If the standard of living is going down for an average citizen of any country, these numbers have no value whatsoever.
But again, do they care?