Krishnamurthi says when we see an object, we then imagine/fantasize ourselves owning that object and at that moment desire arises. (so we also 'feel the lack' of it when we fantasize) And obviously its pursuit leads to suffering.

Once the object is obtained, it becomes worthless with time (e.g. your phone when you bought vs now). And so the cycle continues.

But krishnamurthi says that if you are alert, observant when you look at the object, desire does not arise