Looking back at the 1920’s it’s hard to compare the world of then to now. Culture is different, the people are different, the environments, jobs, everything, it’s all different. But most notably, the economy is different. And fortunately, the economy is much easier to compare across time than something like culture.
One of the most direct ways to do this is through price. Inflation is a more than powerful force in today’s economy. In fact, 2022 saw the highest inflation rate in decades. This has led to a dramatic decrease to the dollar, and by 2030, the current buying power of the dollar is projected to be equivalent to just $0.65.
This is the future of the dollar, but what about average American expenses? Things like milk, a car, college tuition, or even investments like gold. This is where the rates of inflation really start to reveal themselves. Starting around 1990-2000, the rates of all of these expenses have started to exponentially rise.
They all follow different slopes, gold for example increasing far more in the past few years than the others. Although it is undeniable the effects of inflation on prices. Even more importantly though is the future of prices, where these costs are only predicted to skyrocket.
The average consumer has a lot of power in what they buy and for how much, but it seems that over the next decade these prices are going to become a lot harder for a lot of Americans to handle. Nothing expresses this better than the predicted price of gold, which will reach all-time highs in response to the harsh inflation.
Brought to you by: usgoldbureau.com