AMI closes on a new all time high soon, page-79

I'm not propagating nonsense, quite the opposite.
Is our form (or the USA's) of capitalism its purest form, no, but its the probably the purest there is on this planet.
Even in its less than pure form the stockmarket, which is what I was referring to, is an engine of growth and wealth.

That does NOT mean that there are not other forces in society and the economy that might work to mitigate that to a greater or lesser extent. Dumb govt policies, competition from other economies, resource constraints etc, there are many forces that factor into the standard of living you have today.

You gave milk as an example of something that isnt cheaper, well 1litre of milk today costs about $1.10. so about 5 times the cost of 1970. I'd say that adjusted for inflation its gone down in real terms. Things will change in value at different rates.
Google salaries and house prices in 1970's Australia, both have gone up a lot more than 5 times in that time so milk is actually cheaper.

Don't know how long you have been around but in the early 1990's you could buy a Pentium 286 PC for $2500 with maybe 640K of RAM and a 3.5" floppy drive and maybe a 10MB hard drive and 15" bulky monitor.
$2500 today will buy you a thousand times more computing power, huge memory & disk storage, access to the internet etc. The cost of computing has just plummeted in that time.

Consider your bubble burst!