Let's start with a simple question. Is Biden responsible for the global inflation all industrialized countries have experienced? Yes or no? And by the way, Japan and China both artificially hold down inflation.
I don't give a crap about globalism, questions, or nicely colored graphs. It's Bidenflation in the US. Now, account for it by explaining why Biden didn't create it with his policies.
If inflation is happening around the globe, and the US is part of the globe, then isn't part of the explanation of why there is inflation in the US is because of global issues? So yes or no. Is Biden responsible for the inflation that is happening around the globe? Or, can all you do is deflect and derp derp derp?
The problem for Biden is that the economic reality and the political reality aren't the same. The Republican/Trump message is very simple. Prices especially food and fuel prices were much lower three and a half years ago than they are now, Biden has been in office for three and a half years therefore the higher prices are Joe Biden's fault. The fact that the president has relatively little impact on the economy, that inflation is a global phenomenon and is in fact lower in the US than in any other advanced industrialized country and the fact the rate of inflation now is back down to historic norms after being at its highest level in almost 40 years for a 1-year period in 2022 is irrelevant as far as good percentage of the electorate is concerned.
Another part of the problem are people who aren't deep thinkers who believe Trump to be some sort of magician. And if he's re-elected, things will automatically revert to 2017 economic conditions. Which is ignorant at best, and incredibly stupid plus dangerous at worst! Dangerous because a big part of the global inflation is a global labor shortage. The world was already aging, and the pandemic caused a large number of early retirements, plus a higher death rate of people of working age than usual. As a result, the US still has more job openings than unemployed, and worldwide, there are labor shortages in industries such as manufacturing, supply chain management, and healthcare. Three things that can cause inflation. One of the reasons why the US hasn't had as much inflation as the rest of the globe is an influx of immigrants. Imagine if instead of having 2 million more jobs that currently unemployed, that number was 3 or 4 million! That would most certainly have an effect on inflation as jobs would go unfilled and take longer, and jobs that were filled would be competing for smaller labor pool and pay more to attract talent, and then moving those costs along to the consumer. Several of Trump's policies might not have had an inflationary effect in 2017. In part because we were in a mature economy cycle. And also because Trump had a few adults in the room that stopped him from doing everything he wanted. This time around? If Trump is elected, Trump may be more successful in having mass deportations, which would be inflationary, enact tariffs on all imported good, also inflationary, and could devalue the dollar, which is another inflationary policy. But Trump supporters either are unwilling or unable to understand all this. All they can seem to do is derp derp derp....Trump rulz!!!
You can certainly refuse to participate in a discussion. However, I asked you a direct question. It is not an unfair question. You have just refused to answer. You are not accountable, but that doesn't mean that I can't point this set of facts out.
US inflation wasn't caused by inflation around the world. All you give is BS excuses without looking at any Biden policies that most highly had an impact on US inflation. I do not accept your premise that the world, the dog's tail, is wagging the dog, the US.
You can certainly choose to participate in my discussion. When you are prepared to talk specifics as to Biden's policies that caused inflation in the US, have at it. Your original question directed to you from me: Why do you think house prices are high? How about gas prices, why are they high? I'll be glad to respond to your claims.
I think we can all agree that prices were lower when Obama left office than when Trump was in office. How did Obama do it? What policies did he implement to ensure that his prices were lower than Trump's?
What Biden policies specifically caused US inflation? And did these policies also cause global inflation too? If not, then why did the rest if the world experience inflation? And last, but not least, why was the inflation the US inflation not effected by what the rest of the world experienced? Care to answer just one of these questions for a change? Or can all you do is derp derp derp?
No, I can't agree with prices were lower under Obama than Trump. I don't even know how you would come to that conclusion without providing the inflation rates posted by Obama and Trump. Would you like to present evidence of your claim with the understanding that the Fed has a 2.0% target? What do you think happened with Biden to cause so large of an increase in inflation that didn't happen under Trump?
Yes, Biden played a part. Maybe 1-2% of it during its peak. But inflation was worldwide and initially caused by supply chain issues, and Trump and Republicans certainly engaged in their own fiscal stimulus too, plus Trump was very supportive of low interest rates which is the ultimate cause of high house prices and lingering cpi rent inflation now. I would be shocked if inflation were materially different under Trump vs Biden. Before Covid sept 2019 trump called for negative interest rates https://www.reuters.com/article/idUSKCN1VW1CI/ Here Trump called for stimulus to be increased from $600 to $2000 Trump suggests he won't sign relief bill into law unless Congress makes changes including increasing stimulus checks to $2,000 He signed $900 billion covid package after calling it a disgrace. Trump Signs Pandemic Relief Bill After Unemployment Aid Lapses (Published 2020) Trump extended $600 a week unemployment with executive order. What President Trump’s Executive Order Means for Unemployment Compensation Benefits PPP was a trillion dollar program, much it going to otherwise healthy business. Paycheck Protection Program - Wikipedia Employee retention tax credit https://www.uschamber.com/assets/archived/images/uscc_covid19_employee-retention-tax-credit.pdf The FY2020 deficit was $3.1 trillion. Larger Federal Deficits & Higher Interests Rates Point to the Need for Urgent Action. Trump was running trillion dollar deficits st 5% of gdp even before covid Larger Federal Deficits & Higher Interests Rates Point to the Need for Urgent Action. Again the notion that inflation would have been materially lower is a fantasy.
For a change, LOL! It's you position that Bidenflation doesn't exist. Don't ask questions as it is your burden of proof since you disagree with me. What I care to hear from you is what happened under Biden that caused such a high inflation rate that did not exist under Trump. It's not like you can say "there hasn't been inflation." You'd look silly taking that position. Inflation exists and it is called Bidenflation. Leave out the globalism BS and let's discuss what Biden actually did when he became president. If you think Biden did nothing to cause the inflation, just say so. He's just the president with no power to combat inflation. I'll take that argument on after you state your position. In the meantime, I'm off until tomorrow morning. Tired of this back and forth BS.
LOL! Those were the questions that I asked you in Post 421 after you claimed that Biden did it. Are you really hoping to make it seem like you weren't the one ducking those questions?
I see, discount Trump's first 3 years as if the years don't exist and focus only on what Trump did on a bipartisan basis to fight the economic ills created in fighting the worst pandemic since the Spanish Flu in 1918. Sorry bucko, that dog don't hunt. Bidenflation that rolled to the level it has is another laundry list chosen because well, darn it, it's what the democrats wanted to do due for all sorts of wokeism unrelated to the pandemic. It can't be hard to imagine what that list looks like.
Leave out the globalism bs? Isn't the US part of the globe? And if the entire n bleeping globe is experiencing inflation, why is US inflation a Biden issue only? Or, back to the original question you avoided. Is Biden to blame for the global inflation? Trump in 2017 inherited a mature economy. The last 6 years of Obama and first 3 of Trump saw similar economic numbers. Low inflation, 2.5% to 3% growth, and decreasing unemployment. But the pandemic derailed everything. And GLOBALLY, which again, the US is a part of, saw massive supply chain issues and labor shortages. Again, the US wasn't the only country that had mass inflation. In fact, the US fared better than all other industrialized countries that don't artificially keep inflation down. Now, unless you're arguing the inflation under Biden had nothing to do with the global inflation happening at the exact same time, you are adding nothing but derp derp derp.
You started this thread. You continue to ascribe inflammatory and juvenile labels to the POTUS, along with a consistent flood of misinformation from weak sources. Now you've regressed to red font reflecting an apparent need for attention. In your latest episode, you made certain claims, which you continue to fail to support. And yet, you owe no explanation and are compelled to tell people much better informed than you to "pound sand."
first - I gave the last two years 2019 and 2020. We are talking about inflation and causes. 2018 budget deficit was “only” 800 billion. 2017 budget actually starts in late 2016 during the Obama admin. The Trump tax cut started in calendar 2018, causing further growth in deficits. I gave you a chance to substantively address facts presented, and you responded with “yay team”
What are you talking about?! Nobody discounts the inflationary impact of Trump's deficit-funded fiscal stimulus in a strong and improving inherited economy - tax cuts for corporations and the rich. For that matter, nobody discounts Trump's inflationary tariffs either. And those two inflationary failures are really the only Presidential "contributions" to the economy that Trump made.
