Are Frequent Flyer Miles Becoming Worthless?

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Ever since I started following the miles community more closely, there have been regular proclamations about how this hobby is dead, points are worthless, yadda yadda yadda. Oh, and that greedy bloggers are ruining all the best deals. It usually happens when there is a massive devaluation on a particular route or some β€œsweet spot” redemption finally dies. Naturally, years after it’s discovered and written about everywhere.
Recently we saw a few notable stealth devaluations.

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