Inflation Creates Economic Turmoil

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Andy Galan, Staff Reporter

The US has had many historical economic affairs, the most noticeable are recessions. The last recession the US has been through was The Great Recession during the years of 2007-2009.

Now coming towards the end of 2022, the US has been creeping into another one and with  recessions comes inflation, but what is inflation and why is it such a big deal in the US?

Jason Janczak is an econ teacher here at GCHS and he has his fair share of knowledge on the topic of inflation, “When we talk about the definition of inflation it’s a general rise in the level of prices. If you look around, things are getting more expensive. That’s inflation, prices of everything are going up” said Janczak.

Having many years of teaching under his belt, Janczak makes sure to inform and educate his students on the causes of inflation and terms related to the topic. Some terms being “demand pull inflation” and “cost push inflation,” , “Demand pull inflation is too many dollars chasing few goods. People still have jobs, there are low unemployment rates. There’s a lot of money chasing fewer goods. Cost push inflation is where goods become more expensive to make” explains Janczak.

Through the years of 2020-2022, America has gone through some tough times, with the pandemic causing catastrophe through 2020-2022, and now inflation rising rapidly, Americans are overdue for a solution to this problem “Americans have to learn how to budget and use their time or use their money wisely. Get back to couponing shopping, the sales when it comes to food, looking at habits like driving habits, in terms of spending less on gas,  and then starting to prioritize what matters and what doesn’t” said Janczak for everyday hobbies to help decrease inflation.

Inflation doesn’t only affect regular hobbies like buying groceries or any kind of good, it can have an impact on politics with who is placed in office. So if the politicians are not doing a good job, or they have not made a change to help a problem that has been in the US then they’d have the chance to be blamed by other politicians, for there doings,

“The Republicans because the democrats are in charge. They’re pointing at the democrats saying you’re not doing enough for inflation. How this would happen on our watch, but it’s happening on yours,” said Janczak.

There is another teacher that is also well known throughout the school that goes by the name of Dustin Chierico. Chierico is an econ teacher while also being an activity director for a club called PSP (Public service Practicum). Cherico has been working at this school for 24 years now and like Janczak he has experience teaching econ to students. While being on the topic of inflation Cheirico has interesting news on good things that could come out of inflation and the future to come with it,

“Saving your money is always a wise move, but incredibly important right now. Eventually, prices will stall, and the sales will begin. You will be rewarded well if you have money to spend when that happens,” said Cheirico.

All in all Inflation itself is not something Americans want to hear, especially if it causes changes to everyday living as is. But while it is ravaging its way through the year 2022 Americans still have to remember when there is darkness there is light and to always look on the bright side.