We've heard numerous times the dollar has lost much of it's purchasing power over the past 50 years, but what does that really mean?

Joseph Solis-Mullen at the Libertarian Institute does an excellent job explaining the dollar's devaluation. The scary part is the The Ghost of Inflation Future!

According to Joseph Solis-Mullen, using the conservative annual inflation rate of 2.5% - 3% from 2025 - 2050, we would be looking at the following prices in 2050:

"The median home price, around $450,000 in 2025, would exceed $950,000 to $1.1 million by 2050.

Average new car prices would approach $80,000–$100,000.

A year of college at a private institution could cost $100,000+.

Median household income would need to reach roughly $180,000–$200,000 just to maintain the same living standard Americans had in 2000".

When looking at the numbers above I find myself wondering how future generations will afford these things? Is this how we get to the World Economics dystopian vision of the future, where we own nothing?

https://libertarianinstitute.org/articles/the-ghost-of-inflation-past-present-and-future