Why are we getting poorer

I saw an article: Why are we getting poorer - behavioural economist weighs in today in RNZ. As a counter point to this, there is an ex Citibank trader that offers an alternative understanding of the underlying reasons. Here is his video.

This is something I'm sure most of you have experienced lately. (If you haven't, I'd love to know your secret) And an issue that I think is important for us to engage with as a nation. What are your thoughts?