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

  • GiddyGap@lemm.ee
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    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
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      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.

    • orrk@lemmy.world
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      1 year ago

      well no, the econ 101 guys are the ones calling for getting rid of inflation, you actually need to get a bit further down into the mud to get to “inflation is super important and one of few reasons for investment instead of dragon hordes”