The value did not.
quotingArrived back in London today.
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At Heathrow, I overheard someone say their Heathrow Express ticket was £30.
£30 to take a train from the airport into the city.
This is not a transport story.
It is a currency story.
Purchasing power is what money can buy.
When everyday services absorb larger portions of income, purchasing power has declined.
Not long ago, £30 represented meaningful optionality.
Today, it is consumed by a short, unavoidable trip.
The number stayed the same.
The value did not.
This is how currency decline presents itself.
Quietly.
Through routine transactions.
Most people notice prices.
Few notice the unit of account failing.
#GBP #Inflation #PurchasingPower #SoundMoney #Bitcoin