Bernanke: "Inflation is a tax"

so are sadly mistaken sir, the standard of living has gone down considerably over the last hundred years in terms of working for money and what it gets you, its easy for reality to be masked by technological advances, just because their are better cars nad electricity and iphones doesnt mean that in terms of economics your standard of living went up, when inflation year over year is more than wage increase its is by def.a lower standard on living in terms of money.I wish people would understand

That doesn't make any sense. What is a standard of living if not the goods and services you have and consume. Most people eat out and have work a lot less than they did a 100 years ago to get by. Entertainment abounds. Health on the whole is far superior to anything like what it was 100 years ago. Indeed, our problems now are that people are too fat which is surely a sign of opulent society.

Your way off, please consider it this way.. Andrew carnagie and Rockefeller were amoung the richest men of their days. And a struggling family today may be amoung the poorest of today, now it seems what your saying is that the poor family of today is better off in terms of economics than carnagie and rochefeller because of all the tecnological advances, that is not a fair comparison because what im talking about is economic standards of living not technological advances.

You're speaking way off topic. You have the standard of living confused with the things we have available to purchase today compared to 100 years ago. In that sense, yes the "standard of living" has increased. What you fail to discuss is what the standard of living truly means and that is: Can people afford these new items? No. They cannot. Wages have not kept pace with the standard basket of goods. You can barely leave Wal-mart or any store these days without spending 150 dollars. Get it?

as a recent college graduate [2008] , I now know this in more than as a intellectual concept

Because Obama wins.