Double-click on the image to get a better view. The image is found at this location, from the FED. The chart shows the value of the dollar from 1913 (start of the FED) to today. If you go to the website you will see that the $1,017 in January 1913 would be worth $39 today. Another way of saying it is that $1 in 1913 would buy $0.038 worth of goods today. A 1913 dollar would be worth 4 cents today. The chart is interactive. You can move your mouse back and forth over it and the value is visible in a cursor related box.
You might notice the graph says "FRED" at the top. I think that stands for Federal Reserve Economic Data. Here is a link to their "About Us" webpage.
We need to get our children to understand that inflation is bad for them and all of us. Then we need to get our elected representatives to push the Federal Reserve to push inflation back down.
The money you have saved for retirement is shrinking. The money your children will save for their retirement will be shrinking. Only the U.S. government likes inflation because it pays its debts with cheapened dollars.
Robert Canright
Link to the inflation thread in this blog:
Teaching Our Kids About Interest and Inflation April 11, 2015
