It took 36 hours, but we finally made it to Bohol, Philippines 🇵🇭 My wife and I are volunteering for Faces of Tomorrow - we’ll be helping to repair kids with cleft lips and cleft palates this week. Tomorrow we have our preop clinic. Pray for lots of patients! 🤙

GM #nostr

We’re so used to inflation because we grew up experiencing it but we haven’t stopped and think about why there is inflation.

We know it, we feel it. But we can’t explain why there is inflation.

A product will increase in price if it becomes better or bigger. But the apple we eat today is the same apple 5 years ago. It’s the same with fish, pork, beef or eggs. They did not become bigger or better. But somehow, they became more expensive.

Inflation is not a natural phenomenon like gravity or the sunrise and sunset .

Inflation doesn’t happen on its own.

Just like what we learn in school, for every effect there is a cause.  But in school, they didn’t teach what is the cause of inflation. This was perhaps to hide the real reason why we have inflation.

Inflation is a result of something happening.  It’s the effect of a cause.

What’s the reason or cause of inflation?

The true reason why we have inflation is because they increase the money supply.

-Cause: increase in money supply

-Effect: inflation

Increase in money supply and inflation are economic terms. I hate using these terms because they sound too academic.

I like to use words that are relatable and easy to understand, so I like to rephrase the above cause and effect to simpler words:

-Cause: money printing

-Effect: everything becoming more expensive

Money printing = Everything becoming expensive

This is what inflation really is. It is as simple as that. We have inflation because we print more money. Prices of everything is becoming more expensive because we print more money.

In the past, inflation was defined as  ” increased in money supply”.

This definition was later changed to  “ increased in prices of goods”.

This was perhaps to hide the fact that the real reason why we have inflation is because they print more money.

#bitcoin