This is my limited understanding so far, after listening to Jeff Booth on a couple of podcasts.

In The Price of Tomorrow, Jeff Booth points out that technology makes the price of everything “deflationary”, so goods and services and housing are less expensive, not more expensive. This is because technology pushes prices down to their marginal cost of production.

He also points out that increasing the money supply pushes against the deflationary results of technology lowering prices to their marginal cost of production. This is the government purposely fucking you over by maintaining inflation in the economy.