In this edition, PlumTree Financial is shining the spotlight on an economic concept that has been getting more attention in recent years, inflation. Whether you are a factory worker in the middle of America, a lead economist, or a DC politician, price change is something you understand. Inflation is measured in several ways: core, headline, producer, consumer, etc. In this newsletter, we will focus on ‘headline inflation'. We will also steer clear of political commentary and avoid trying to address who is to blame for the spike in inflation. Instead, we will address the question: what are the contributors of headline inflation? We will also provide a summary chart from J.P. Morgan that presents the components of inflation and their contribution to overall inflation over the past few years.
Have you ever wondered how Medicare is funded? The U. S. Treasury utilizes two trust fund accounts that can only be used to pay for Medicare. Learn more.
The week of August 2 - 8, 2024 my father, Greg Bernhard, and I embarked on a Sea Base High Adventure Boy Scout trip. Sea Base is a trip to the Bahamas where participants spend a week sailing on a boat. We spent the week on a 50’ catamaran. There were eleven sailors, eight Boy Scouts and three adults, representing Troop 976.
While we were at sea in the Bahamas we participated in lots of activities. We snorkeled, caught lobster with nets, fished, sailed, and learned about living on a boat. Snorkeling was my favorite activity because I love to explore nature, and I loved seeing new things. We saw lots of cool things in the ocean including boats, cars, stingrays, and cool fish including grouper, pufferfish and lion fish. We learned how to live at sea, and it was harder than I expected. We each had jobs every day. We had to lower the anchor, clean the head (bathroom), cook, and wash the dishes. Another tricky thing was sleeping. We slept on nets on the bow (front) of the ship and on parts of the ship in the stern (back). It stormed most nights. On those nights, we had to sleep in the galley (kitchen).
During this trip, we also visited the islands of Man-O-War, Marsh Harbor, Elbow Cay, Hope Town and Great Guana Cay in the Bahamas. These small islands had been destroyed by Hurricane Dorian. They were mostly finished rebuilding, but some houses were still in shambles. These islands had delicious food and were very rich in history. We learned about boat builders and how to build boats. We also visited the only human operated kerosene lighthouse remaining in the world, which is located in Elbow Cay, Bahamas.
Our captain knew many people, and we got to see how some of them were in the process of building boats. We visited a library that the captain and many Boy Scout troops had built. Every week the captain had a task for the troop that was sailing with him to keep the library progressing. Our troop’s task was to donate more books because they wanted to give the children more books to read.
We also visited beaches that had clear water. We relaxed in the water, and we met up with another troop. We played football with them and our troop took home the win. The islands were peaceful, and we had a great time visiting them.
I enjoyed going on this Boy Scout trip. I loved that I could take this unique trip with my father and that we could bond. I got a lot closer to my crew mates and did a lot of awesome things. I enjoyed living on the boat and visiting the islands. This was truly a once-in-a-lifetime experience. In the upcoming years, I am looking forward to doing the other two High Adventures: Philmont and Northern Tier.
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"Far and away the best prize that life offers is the chance to work hard at work worth doing."
Theodore Roosevelt, 26thU.S. President
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