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The COVID-19 pandemic led to a significant increase in prices due to the Federal Reserve printing more money, which devalued the purchasing power of the dollar.

Electricity prices are rising at twice the rate of inflation, and grocery prices are at their highest in three years, making it increasingly difficult for families to manage their expenses.

The cost of living remains a significant concern for Americans, comparable to the period of 9% inflation, indicating a sense of losing control.

Salaries have been rising consistently, but when measured in gold, they've actually been falling since 1970. This suggests that in terms of stable value, we're earning less than ever before.

Dominic Frisby explains that the reason things are more expensive today than in the past is due to the lack of constraints on money creation. He highlights that prices in the UK have increased twice as much as in the US because the pound has been roughly twice as weak as the US dollar.

The economic disparity between the past and present is often misunderstood, with modern society having more wealth but also higher expectations.

Since the final vestiges of the gold standard were abandoned in 1971, the supply of money has ballooned. This has led to more money chasing the same amount of goods, contributing to the rise in prices over the years.

House prices have increased by three and a half times the rate of salary increases since 1970. In the 1970s, a single salary could afford a house, but now it requires two salaries and significant debt.

The government can increase the number of dollars in existence with the click of a button, devaluing the dollar you just worked for. This leads to a decrease in purchasing power over time.

The reason cars have become significantly more expensive compared to washing machines since 1970 is largely due to the use of debt in purchasing cars. While washing machines have become cheaper relative to earnings due to improved productivity and outsourcing, cars have seen a price increase because financing creates more money, driving prices up.