Wow. If inflation after Year 1 is 7%, Year 2 is 9%, Year 3 is 6% and Year 4 is 3% ... then what is the inflation over that TIME PERIOD of 4 years? (Hint ... it is NOT 3% ... take excedrin for any headaches or midol for any cramps...)That's an extreme viewpoint. Yes, inflation has impacted it some but to say all gains were lost is just not even close to factual.
For me personally, my 401k has gone up about 30 percent in 4 years.
The Dow was at 29k in Nov 2020 and is now at about 42k. That is about 45 percent growth since Biden was elected.
We have not had 45 percent inflation over the last 4 years.
Inflation is currently at 2.5 percent.