Listening to a podcast with @Rajat Soni, CFA and @Bram tonight. Really liked the conversation.

There was one point they we talking about why things in fiat are constantly losing quality. Cheaper materials, poor workmanship, etc. they used a table as an example.

Rajat said he wanted a solid wood table like his parents bought 20 years ago for $200, but that now all you can get for is an MDF table (crap) for $200. If he were to buy a quality table today it would cost $1500.

I don't think either of them understand why the table cost more and is junk. If it were only debasement, I could just get a nice table in whatever the units would cost today. After all I make more today than Rajat's parents did 20 years ago.

The key they are missing is that the value of my labor is also going to zero. That paired with inflation is the true picture. Technology also reduces the value of our labor as well as goods and services. An uncomfortable truth.

This is why we need Bitcoin to win so badly. If we don't have a deflationary currency to bring assurance in the amount we need to live, we are all going to work harder and harder until we die because we have no idea how much we need.