Because in real terms (adjusted for inflation) you literally are poorer, with pretty much each passing day.
Even those with significant assets are hurting. Keeping up with inflation was, most of the time, not terribly difficult. A cd at the local bank was often enough. But now, with interest rates at historic lows it is very difficult to find low risk yield. It’s either get into the market or get left behind.
Grandma shouldn’t be in the market, especially the way it is now.
What we see here is the Federal Reserve keeping the debt game going. This is good for the banks, but not so good for nearly everyone else.
For those still working, most are losing purchasing power each year. Wages are not keeping up with inflation, even the understated numbers reported by government. In short, the decline of a once-great economic power is well underway. The country is no longer growing enough to raise everyone’s standard of living.
Government has killed the golden goose and in an attempt to hide the obvious is debauching the dollars. Government tries to hide their own failure with phony statistics and a welfare state designed to placate the masses. Bread and circuses are deceptions not progress.