I only searched purchasing power to see if I was missing something. I was not. I do not claim to be an "economics expert", but I know more than you.
Case in point:
If you understood what real income meant you would not have said the bolded - real income takes inflation into account by definition.
And also, you are patently incorrect. No matter when you compare today's stats to anything in the 20th century.
Graph and download economic data for Real Median Personal Income in the United States (MEPAINUSA672N) from 1974 to 2023 about personal income, personal, median, income, real, and USA.
fred.stlouisfed.org
Yes, it's disproportional in trades.
The government, oversaturated and feminized as it is, is also good at organizing and "avoiding being exploited". Or (in some people's view) "exploiting the situation".
You are correct that that's not the only reason. The other reason is overly permissive and chronically low interest rates that inflated the market beyond salvage. The primary beneficiary of which was the "working man".
If you buy explicitly cheap shit in the name of consooming beyond your means in increments, sure.
But you keep on saying "the same lifestyle" when it just isn't correct.
If there is any objective way to define "purchasing power", it is real income. Ie nominal income adjusting for current price levels. Staple of classical economics.
But the bolded gives up the goose. It used to be that the antiwokes would ridicule the spurning of well established economic principles in favor of their conceptions of how things should be. Now we're seeing a horseshoe effect on the subject.
There's little further discussion to be had if you're just going to throw out actual data and definitions on the false premise that it was all dreamt up by "bankers".