Another huge factor is the depreciation of the dollar, it just doesn't buy as much as it did before the recession, and it's not really seen easily in the CPI but just in the prices of individual goods and services. It's really wonky since inflation and other economic indicators paint a mixed message which is used to paint contrasting pictures of where the economy is at. But when you look at the prices of boats and luxury items, it's clear that disposable income does not go as far as it used too.
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