{"id":4169,"date":"2007-12-28T12:51:00","date_gmt":"2007-12-28T12:51:00","guid":{"rendered":"http:\/\/brianjnoggle.com\/blog\/?p=4169"},"modified":"2017-11-23T14:10:17","modified_gmt":"2017-11-23T20:10:17","slug":"journalist-mistakes-inflation-for-interest","status":"publish","type":"post","link":"https:\/\/brianjnoggle.com\/blog\/2007\/12\/28\/journalist-mistakes-inflation-for-interest\/","title":{"rendered":"Journalist Mistakes Inflation for Interest"},"content":{"rendered":"<p>The <i>Milwaukee Journal Sentinel<\/i> carries a <a href=\"http:\/\/www.jsonline.com\/story\/index.aspx?id=701111\" target=\"_new\">regrettable story<\/a> about a little old lady who lost her &#8220;life savings&#8221; of about $20,000 because she left it in the form of a check in a safe deposit box for 22 years (regrettable both because her life savings was only $20,000 and because she lost it).  Tucked inside, we have a stunning display of simplistic Web research and basic misunderstanding of economics:<\/p>\n<blockquote><p>Willie Floyd said she hadn&#8217;t thought about the interest she was losing by not having it in a standard savings account. The interest she would have earned could vary, but a calculator provided online by the Federal Reserve Bank indicates that if she had bought something for $19,700.22 in 1985, it would cost her $38,480.79 to buy the same goods or services, based on the Consumer Price Index.<\/p><\/blockquote>\n<p>Bravo, Marie Rohde, your economics teacher must be proud!<\/p>\n<p>You don&#8217;t have an economics teacher?  The <i>deuce<\/i> you say!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Milwaukee Journal Sentinel carries a regrettable story about a little old lady who lost her &#8220;life savings&#8221; of about $20,000 because she left it in the form of a check in a safe deposit box for 22 years (regrettable both because her life savings was only $20,000 and because she lost it). Tucked inside, [&hellip;]<\/p>\n","protected":false},"author":3334,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[29],"tags":[],"class_list":["post-4169","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/brianjnoggle.com\/blog\/wp-json\/wp\/v2\/posts\/4169","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/brianjnoggle.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/brianjnoggle.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/brianjnoggle.com\/blog\/wp-json\/wp\/v2\/users\/3334"}],"replies":[{"embeddable":true,"href":"https:\/\/brianjnoggle.com\/blog\/wp-json\/wp\/v2\/comments?post=4169"}],"version-history":[{"count":1,"href":"https:\/\/brianjnoggle.com\/blog\/wp-json\/wp\/v2\/posts\/4169\/revisions"}],"predecessor-version":[{"id":17694,"href":"https:\/\/brianjnoggle.com\/blog\/wp-json\/wp\/v2\/posts\/4169\/revisions\/17694"}],"wp:attachment":[{"href":"https:\/\/brianjnoggle.com\/blog\/wp-json\/wp\/v2\/media?parent=4169"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/brianjnoggle.com\/blog\/wp-json\/wp\/v2\/categories?post=4169"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/brianjnoggle.com\/blog\/wp-json\/wp\/v2\/tags?post=4169"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}