Organize students into groups and have them make predictions about what would happen if different scenarios of fiscal and monetary policy were
implemented during inflationary periods and periods of recession / depression.
Similarly, the decline in judicial pay in real terms since 1969 occurred
largely during the inflationary period of 1969 - 1975; since 1975, salaries have stayed roughly within the same zone in real terms.
During inflationary periods and periods of high nominal interest rates, equities tend to languish, while commodity futures prosper.
The same with gold: maybe it does well
during some inflationary periods, but what if the one that's coming is when it perform bad?