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re: Today's lesson: Inflation
Posted on 3/19/24 at 2:42 pm to TheDude854
Posted on 3/19/24 at 2:42 pm to TheDude854
quote:
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.
Then teach them about deflation and how well that has worked in US history. 2% inflation YOY is a good target.
1
Posted on 3/19/24 at 3:07 pm to el Gaucho
quote:
Yep. Biden has been working tirelessly for 4 years and he still can’t fix trumps economy
I literally spit my drink out laughing at this post
Damn that is funny.
Posted on 3/19/24 at 3:12 pm to Locoguan0
What grade are they?
If young enough tell them based on 2020 baseline they only get 70% of their recess. So if recess is normally 40 minutes they only get 28 minutes.
Or tell them in phone charging terms - imagine again using 2020 as a 100% baseline - they have to start every day with only a 70% charge on their phone.
If young enough tell them based on 2020 baseline they only get 70% of their recess. So if recess is normally 40 minutes they only get 28 minutes.
Or tell them in phone charging terms - imagine again using 2020 as a 100% baseline - they have to start every day with only a 70% charge on their phone.
Posted on 3/19/24 at 3:15 pm to Locoguan0
gas was back up 50% since orange man bad.
Posted on 3/19/24 at 3:17 pm to go ta hell ole miss
Kids are really interested when it is something they buy- fast food.
They can look up old menu pictures on the internet.
My guilty pleasure is the orange chicken bowl from Panda Express.
2020 5.90
2024 8.30
I recently looked at a bunch of old receipts from the past few years. The walmart ones show some very large price increases.
I couldn't bring myself look at the Lowes ones yet.
They can look up old menu pictures on the internet.
My guilty pleasure is the orange chicken bowl from Panda Express.
2020 5.90
2024 8.30
I recently looked at a bunch of old receipts from the past few years. The walmart ones show some very large price increases.
I couldn't bring myself look at the Lowes ones yet.
This post was edited on 3/19/24 at 3:19 pm
Posted on 3/19/24 at 3:17 pm to Oilfieldbiology
quote:
Its transitory
10s of millions of people belived every word this woman says.
Posted on 3/19/24 at 3:19 pm to Locoguan0
I sincerely hope you tell them WHY we have inflation.
Deficit spending plus end of gold standard.
Deficit spending plus end of gold standard.
Posted on 3/19/24 at 3:22 pm to BamaCoaster
Low interest rates combined with excess spending was a huge reason. Give someone $100k in additional discretionary income when the fed rates are at 0%. They'll turn it into a $1M loan. Now do this 1M times. Also increase for many it was $1M+ in extra income that then result in $10M+ in low-interest loans.
PPP started us down a bad path. Then add ARPA giving governments excess funding to spend in a short period of time. Then IIJA and IRA fighting for additional labor and materials for housing and infrastructure projects... Inflation is the result.
PPP started us down a bad path. Then add ARPA giving governments excess funding to spend in a short period of time. Then IIJA and IRA fighting for additional labor and materials for housing and infrastructure projects... Inflation is the result.
This post was edited on 3/19/24 at 3:25 pm
Posted on 3/19/24 at 3:34 pm to MoisterOyster
quote:
Now teach them about fed and state income, property, sales, and capital gains taxes.
And then, estate taxes for the “nail in the coffin”…
This post was edited on 3/19/24 at 3:35 pm
Posted on 3/19/24 at 3:34 pm to LStU
quote:
LStU
Removing us from the gold standard allowed for your example.
Posted on 3/19/24 at 3:40 pm to Locoguan0
No way $100 20 years ago equals to $165 today. I can get a cart full of food 20 years ago for $100.
Posted on 3/19/24 at 3:44 pm to tigergal918
quote:
tigergal918
quote:
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."
Literally LOLd at this comment. I wouldve lost it for a second IRL had I been there haha.
Posted on 3/19/24 at 3:53 pm to JohnnyKilroy
quote:Weren't you the guy that told me in the Corona mega thread that the 2020/2021 stimmys wouldn't result in inflation?
JohnnyKilroy
Just L after L for you.
Posted on 3/19/24 at 3:55 pm to Locoguan0
quote:
BLS.gov.
Should be BS.gov.
This that fancy (D)emocrat calculator that doesn’t factor gasoline and food costs into the inflationary evaluation, baw?
Posted on 3/19/24 at 5:34 pm to Locoguan0
Feel free to use this bit I picked up from listening to Dr. Walter E. Williams (RIP) a few years back:
quote:
Let’s say you’re walking down an old dirt road and you’re starving. I don’t mean “I missed my mid-morning snack and am simply faaaaaamished”. That’s merely “hungry”. I’m talking about “I haven’t had a single morsel of food in over a week and my organs might begin shutting down on me soon”. I mean starving.
As you do your best to ignore that ever-present gnawing in your stomach, in the distance you notice a sign on the road. As you get closer you see that it’s advertising “24-HOUR ALL YOU CAN EAT BURGER BUFFET – ONLY $1.00!” and beyond that you see the restaurant in the distance.
You begin to feel hope, but then quickly remember that you are flat broke. You don’t have a dollar, you don’t have even a penny.
You become even more dispirited.
As you continue to trudge along the road, contemplating your eventual death from starvation, you see a crumbled, dirty dollar bill on the side of the road. In that moment, how valuable to you is that dollar bill? Pretty freaking important, I would guess. That crusty old dollar literally means you get to continue living.
Now, imagine that entire exact scenario except that instead of being broke you’re pulling a wagon filled with dollar bills all stacked and bound but easily accessible. How valuable to you is that dirty, crumpled roadside dollar now? Would you even bother to pick it up?
That difference in attitudes towards that roadside dollar is the inflationary effect of too much money in an economy.
Posted on 3/19/24 at 5:56 pm to Locoguan0
Technology and automation decrease the cost of production yet everything gets more expensive
Posted on 3/19/24 at 6:01 pm to Locoguan0
Now do the numbers on higher education costs
Posted on 3/19/24 at 6:06 pm to Locoguan0
Well my salary has kept up with inflation over the years.
Posted on 3/19/24 at 6:12 pm to RogerTheShrubber
quote:
Inflation is higher than 20%. They exclude volatilities.
Closer to 30% +
Posted on 3/19/24 at 7:37 pm to el Gaucho
quote:
Yep. Biden has been working tirelessly for 4 years and he still can’t fix trumps economy
Biden doesn’t always sound out of breath because he’s working on the economy.
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