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The Illusion of Cheapness
Technology makes electronics and clothing more accessible, which masks the real rise in the cost of living in a metropolis. If you exclude depreciating gadgets from your basket, it becomes clear: services are rising in price by 10–15% per year.
The purchasing power of savings falls not because of rising bread prices, but because of the inflated service sector. While you enjoy a cheap smartphone, the cost of an expert's hourly labor is eating away at your capital.
#capital #inflation