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Started By
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Today's lesson: Inflation
Posted on 3/19/24 at 1:37 pm
Posted on 3/19/24 at 1:37 pm
My students are looking at inflation today. While they are having a group discussion, thought I'd post right quick.
BLS.gov Inflation Calculator
The students are looking at inflation, comparing various years in the past 120. $10,000 in 1920 had the buying power of $160k today.
Just pointed out to them that $10,000 in 2020 (pre-CoVID) had the same buying power as $12,022.78 today. They didn't think it was much until I pointed out that means 20%. "How about if your mom said that your birthday or Christmas gifts will be reduced by 20%?" NO!!!!
BLS.gov Inflation Calculator
The students are looking at inflation, comparing various years in the past 120. $10,000 in 1920 had the buying power of $160k today.
Just pointed out to them that $10,000 in 2020 (pre-CoVID) had the same buying power as $12,022.78 today. They didn't think it was much until I pointed out that means 20%. "How about if your mom said that your birthday or Christmas gifts will be reduced by 20%?" NO!!!!
24
Posted on 3/19/24 at 1:39 pm to Locoguan0
quote:
Just pointed out to them that $10,000 in 2020 (pre-CoVID) had the same buying power as $52,022.78 today
Providing you the ACTUAL values, not this Administration's published numbers.
Posted on 3/19/24 at 1:40 pm to Locoguan0
Yep. Biden has been working tirelessly for 4 years and he still can’t fix trumps economy
Posted on 3/19/24 at 1:41 pm to Locoguan0
Now teach them about fed and state income, property, sales, and capital gains taxes.
This post was edited on 3/19/24 at 1:42 pm
Posted on 3/19/24 at 1:44 pm to el Gaucho
Agreed. He’s working so hard he can barely stay awake. And you’ve got those bigots at Faux News downplaying all of his accomplishments.
Posted on 3/19/24 at 1:44 pm to Locoguan0
My 11 year-old helps me work in my older daughter's team concession stand each year. When I told her the other day that drinks had gone up $1, her response was, "Can't even avoid inflation in the concession stand."
This post was edited on 3/19/24 at 3:14 pm
Posted on 3/19/24 at 1:48 pm to Locoguan0
Inflation increased the most in June 2022 (this only goes back to 2000). 9.1% in one month.
us inflation calculator
us inflation calculator
Posted on 3/19/24 at 1:48 pm to Locoguan0
Its transitory
Posted on 3/19/24 at 1:51 pm to el Gaucho
quote:
Yep. Biden has been working tirelessly for 4 years and he still can’t fix trumps economy
He definitely fixed the low inflation rates under Trump. The rates took off like a rocket.
Posted on 3/19/24 at 1:54 pm to Locoguan0
Teach them how to invest next. The importance of your 401K, CD accounts, and all the other investment accounts that make you more money than a regular savings account. Teach them how to maximize their money to keep up with the inflation 
Posted on 3/19/24 at 2:00 pm to zadams_318
quote:
Teach them how to maximize their money to keep up with the inflation
Or how about we teach them not to put up with inflation or the government and to take action to remove whatever retard is currently causing the problems
Posted on 3/19/24 at 2:02 pm to Locoguan0
Teach them that the Fed’s target is 2% inflation. Maybe it’ll spark a discussion about why the Fed wants to diminish the dollar’s value in the first place.
Posted on 3/19/24 at 2:05 pm to TheDude854
quote:
Maybe it’ll spark a discussion about why the Fed wants to diminish the dollar’s value in the first place.
Among other things, to encourage sustainable economic activity.
Do you think the value of a dollar should remain static over time?
Posted on 3/19/24 at 2:07 pm to JohnnyKilroy
quote:
Do you think the value of a dollar should remain static over time?
I think the market should set the value of the dollar, not a bunch of unaccountable bankers.
Posted on 3/19/24 at 2:28 pm to TheDude854
quote:
I think the market should set the value of the dollar, not a bunch of unaccountable bankers.
Tell me you have no idea what you are talking about without telling me you have no idea what you are talking about.
Posted on 3/19/24 at 2:30 pm to el Gaucho
Bidenomics is working just as advertised.... shitty
Posted on 3/19/24 at 2:31 pm to Locoguan0
Inflation is higher than 20%. They exclude volatilities.
Posted on 3/19/24 at 2:33 pm to Locoguan0
Just ran a 50 yr projection on nursing care.
Used 80k for a "great" place for assistance at a 6% growth rate.
$1.4 million! Annually!
4% growth? Over 500k annual.
Snickers bar? Almost $20 (not fun size).
Used 80k for a "great" place for assistance at a 6% growth rate.
$1.4 million! Annually!
4% growth? Over 500k annual.
Snickers bar? Almost $20 (not fun size).
Posted on 3/19/24 at 2:34 pm to Locoguan0
quote:
in 2020 (pre-CoVID)
So, January of 2020?
Posted on 3/19/24 at 2:40 pm to Locoguan0
And you’ll still find people who call it “greedflation”. Indoctrination at its finest.
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