In the 70's Nixon finally killed off the Gold Standard. Since then, the U.S. (and the world) has spiralled into ever-increasing inflation. The gold standard dictated that American assets had a fixed and finite value. Moving away from the standard ensured the the only value on American assets, indeed world assets as America was the economic foundation for the entire civilized world) had no fixed value other than the labor produced by the citizenry. (The federal reserve determines the amount and 'value' of money in circulation based upon the amount of taxes that can be paid to "repay" the money in circulation.) In time, with no actual physical asset to stabilize currency, the fed has released more and more "money" into the economy taking less and less of a complete payment through our taxes until we pay merely the slightest fraction of the debt. This is a ponzi scheme of epic proportions and is ultimately doomed to failure.
Yet, this very scheme allows the wealthy to amass "wealth" in unimaginable ratio to the laboring class. If we were still on the gold standard and the ultra rich held 90% + of the country's assets, the rest of the populace would be mired in inimaginable poverty. Anti-trust laws and federal regulations would move to redistribute the wealth such that the country could continue to function, even thrive. But, with "fiat" money the economy can continue in a farcical half-life, slowly meandering toward utter collapse.
The only solution... Somebody has to eventually come in to power and reinstate a standard like the Gold Standard that establishes a physical asset as the base of the economy. The bonus? We'd have an economy truly grounded on actual assets and that would dramatically undermine inflation. The negative? Your $350k house and your $55k car would instantly be worth around $35k and and $4k. Your salary would drop precipitously. On the plus side, everything else you want to buy would also be scaled accordingly because your money, although much "less" would have dramatically greater purchasing power.
Good luck finding somebody with the balls to do it though.