the point of the example was to illustrate how people fixate on the increased cost of living fron inflation and ignore their increased earnings, even if the increased earnings out-pace the inflation in their cost of living. my point is that's a bad example because we couldn't say that that's true given that the cost od living has been out-pacing wage inflation for a long time.

so yeah, the example illustrates the idea, but it also underlines how the idea contradicts reality.