Upon inception it was set at $0.25. It is now $7.25.

  • GiddyGap@lemm.ee
    link
    fedilink
    English
    arrow-up
    12
    arrow-down
    12
    ·
    edit-2
    1 year ago

    inflation is still absolutely sucking us all dry.

    However, as a side note, inflation is absolutely essential to keep the economy healthy. Most developed countries around the world have a goal of 2 percent inflation. US inflation is currently 3.7 percent before seasonal adjustments.

    Edit: Wow. Lots of people here who need to retake Econ 101.

    • firadin@lemmy.world
      link
      fedilink
      English
      arrow-up
      20
      arrow-down
      1
      ·
      1 year ago

      Inflation is important because it punishes the hoarding of wealth and encourages spending. When investments grow greater than inflation but wages grow slower, it’s problematic because the investing class is rewarded for having money while the working class is punished.