RE: Technology Creates Abundance
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The price of a T-shirt in hours of time used to create it has gone way way down.
From about 20 hours to a few minutes.
If we had real money, then the price of a T-shirt should have dropped significantly.
But, it seems to have stayed about the same, or going up slowly due to inflation of the monetary supply.
Inflation is MUCH greater than we are told.
Because you need to add the monetary inflation with the technology deflation of cost.
And the problem with inflation is, that back in 1988 you spent your time earning a dollar.
If you spent that dollar, you could have had a gallon of gasoline, but if you saved it, now you can have a ¼ gallon of gasoline.
And the bigger problem with inflation is that it doesn't effect everyone equally.
What happens instead is the central banksters and their friends get to spend their money first.
Basically, we get all the inflation that they produced.
Yeah I've done a post or two about how central banking has been able to siphon technological gains into their pocket at an alarming rate. Crypto cuts them off from being to do this because crypto is both technology and money, so money can't be used to siphon the gain because it is even higher quality than the siphon.