http://inflationdata.com/inflation/Inflation_Rate/HistoricalInflation.aspx?dsInflation_currentPage=7
1914-1924: 61.48% Average increase
1925-1936: 19.57% Average decrease
1937-1948: 57.96% Average increase
1949-1960: 21.23% Average increase
1961-1972: 35.31% Average increase
1973-1984: 95.09% Average increase
1985-1996: 42.01% Average increase
1997-2008: 34.35% Average increase
So basically since the the start of the Federal Reserve excluding 1914-1916 inflation has increased on average by 327.86%
Are showing this data to a “economics major” I was told that inflation (as long as it is under 5%) is a great thing and deflationary periods lead to famines. I was then lead onto a debate about how inflation makes growth and continual increase of the money supply doesn’t matter because it somehow makes profit and is the reason our economy is so thriving…Well if inflation is so great then why not make 100% inflation? To which was rebutted, well anything above 5% is bad…
What do they teach in schools?