Recent clip of Jeff Booth talking about the property sector, manipulated markets and why things get more expensive over time even with improvements in technology.
I’ve just started reading his book. 📕 🙏
41 sats \ 3 replies \ @siggy47 10 May
This is a great book. His discussion about technological advances leading to deflation really opened my eyes. Even more pertinent now as his predictions about AI come true. Good skewering of the fiat system's desperate attempts to fight this momentum.
reply
65 sats \ 0 replies \ @cristaiji OP 10 May
I’ve started it on kindle but I’m gonna buy a copy too.
reply
64 sats \ 1 reply \ @btc_remnant 10 May
I don't think so. Technological deflation enables the government to print more money without the people noticing price increases.
So for example, if computer companies figure out ways to build computers 10% cheaper each year, even if money inflation is 8%, the price of the computers will slowly decline 2% a year, so consumers are happy :)
reply
10 sats \ 0 replies \ @siggy47 10 May
I agree
reply
64 sats \ 0 replies \ @freetx 10 May
This idea can be expressed also by looking at Gold vs Oil (two widely traded assets).
1968 - Gold was $35/oz, Oil was $3.18/barrel. Therefore 1oz of gold would buy you 11 barrels of oil
2024 - Gold is $2400/oz, Oil is $80/barrel. Therefore 1oz of gold would buy you 30 barrels of oil
That "gain" of 20 barrels in purchasing power largely came from computers/ new tech / etc. That is to say, in a rational (non-inflationary) world, its enough to just save.
(I know that Gold is very imperfect as a measure of inflation, and the above calcs are not purely accurate, however they are correct enough as an example)
reply
10 sats \ 0 replies \ @nullama 10 May
A usable mobile phone is dirt cheap today compared to 20 years ago though
reply