Biden didn't do anything to CAUSE the inflation either. It is falling MAINLY because we are moving away from the event that caused it....moving away from the pandemic and then the outrageous amount of spending in 2021 that led to the inflation.
Hope that clears it up for you.
I disagree with your first sentence and you actually make my case in the following sentences. Biden reopened the economy and the pent up demand combined with supply shortages led to increased inflation. I’m not saying this was a bad thing, but Biden’s actions most definitely led to the inflation.
Nah. The pandemic caused the pent up demand and supply chain issues. Most of the shutdowns were during Trump's Presidency, and most of those were on the state level including by my own REPUBLICAN state governor.
The shutdowns were NECESSARY to protect the public. Was Biden supposed to NOT usher in a post-pandemic period of time? I get that you are being pedantic here, but it's a silly stance and really has no discussion value.
Maybe I shouldn’t have reduced my shorts. At least the CEFs are still doing well, until the next dollar bump.
market fell on reports of russian missiles hitting poland. An accident that pulls NATO in is what we're all worrying about.
Thx.
Two dead as the missiles hit a farm in Poland just across the Ukrainian border. They are not sure where the missiles came from but the strike coincided with similar strikes across Ukraine by Russian forces. They are reporting heavy shelling today across Ukraine.
"Russia rained missiles on cities across Ukraine on Tuesday in what Ukraine said was the heaviest wave of missile strikes in nearly nine months of war, echoing a pattern in recent weeks of Moscow lashing out far from the front after battlefield losses."-Reuters
I disagree with your first sentence and you actually make my case in the following sentences. Biden reopened the economy and the pent up demand combined with supply shortages led to increased inflation. I’m not saying this was a bad thing, but Biden’s actions most definitely led to the inflation.
I think we have to agree that in retrospect one of the big stimulus bills was too much and contributed something to the inflation. Not the major factor (that was all the pent-up savings being spent at a time supply chains were messed up), but I do think the stimulus was a factor.
But on the other hand, getting 6% economic growth and skyrocketing tax collections made up for some of that. If we get away without a recession in 2023...maybe the inflation period won't be such a problem and the stimulus might flip to being more positive an effort.
MINIMAL effect, and we can't forget that TRUMP did it as well.
Global inflation was the result of the other side of the pandemic. Governmental shutdowns were reasonable responses to that virus before we had a vaccine.
Inflation will likely be at historic norms by Spring 2023. It will actually be HARD for it NOT to be.
For anyone to blame Joe Biden for the historic inflation is extremely disingenuous. Had Trump won in 2020, he would have had the same situation.
I think we have to agree that in retrospect one of the big stimulus bills was too much and contributed something to the inflation. Not the major factor (that was all the pent-up savings being spent at a time supply chains were messed up), but I do think the stimulus was a factor.
But on the other hand, getting 6% economic growth and skyrocketing tax collections made up for some of that. If we get away without a recession in 2023...maybe the inflation period won't be such a problem and the stimulus might flip to being more positive an effort.
MINIMAL effect, and we can't forget that TRUMP did it as well.
Global inflation was the result of the other side of the pandemic. Governmental shutdowns were reasonable responses to that virus before we had a vaccine.
Inflation will likely be at historic norms by Spring 2023. It will actually be HARD for it NOT to be.
For anyone to blame Joe Biden for the historic inflation is extremely disingenuous. Had Trump won in 2020, he would have had the same situation.
It sounds like you are agreeing with me. Biden reopened the economy, in large part by getting shots into arms. As agip pointed out, he also put more money into pockets with yet another stimulus package. There was pent up demand and people had money to burn. Combine that with the predictable supply chain issues and we know what happens to prices. These actions contributed significantly to the rise in inflation.
I am not necessarily complaining about any of this (maybe the stimulus). I give Biden credit, not blame. He did the right thing (mostly).
“FTX’s stunning downfall has prompted Washington lawmakers, including the Biden White House, to more closely scrutinize the company and the industry at large. The moves by some in Washington to distance themselves from FTX followed a broader push by the company and key executives to ingratiate themselves with policymakers.”
—CNBC
Surprising…..
Biden didn't care about scrutinizing them when they gave him $10 million in 2020, or when they gave primarily Democratic candidates $39 million for the 2022 midterms or when they gave the left winged Mind the Gap PAC (headed by his mother) many more millions. I guess now they can scrutinize them. At least, now that the midterms have been bought and paid for and they kept the senate. Of course, it's worth mentioning that one of the congressmen on the financial services committee who would be in charge of oversight employed SBF's brother Gabe.
Biden got what he wanted out of young voters and won't have to pay them a dime. A win, win for the Democrats. Had they been serious about student loan relief, they would have included it in the IRA. Instead, Biden put in an executive order, knowing that he did not have the authority to do so.
“People think that the president of the United States has the power for debt forgiveness. He does not. He can postpone, he can delay, but he does not have that power. That has to be an act of Congress.” - Nancy Pelosi in her weekly press conference July 28, 2021
Biden got what he wanted out of young voters and won't have to pay them a dime. A win, win for the Democrats. Had they been serious about student loan relief, they would have included it in the IRA. Instead, Biden put in an executive order, knowing that he did not have the authority to do so.
“People think that the president of the United States has the power for debt forgiveness. He does not. He can postpone, he can delay, but he does not have that power. That has to be an act of Congress.” - Nancy Pelosi in her weekly press conference July 28, 2021
NPR ran an informative article describing ithe issues motivating younger voters this time and they site studies done by groups at Tufts and Duke and by their own interviewers and found the following:
"Youth voters said they were motivated by issues including gun control, student debt, climate change and the abortion debate, which both Democrats and Republicans had made a banner issue after the repeal of Roe v. Wade. "I feel like, especially given the overturning of Roe v. Wade, I think that made a lot of people who are less reactionary to politics to be very upset by this," said 19-year-old Emory University junior Sofia Damer-Salas."
I think those are some very good reasons to get up and vote, as they did, and I applaud them for doing so. And I guess that's the way democracy works.
Biden got what he wanted out of young voters and won't have to pay them a dime. A win, win for the Democrats. Had they been serious about student loan relief, they would have included it in the IRA. Instead, Biden put in an executive order, knowing that he did not have the authority to do so.
“People think that the president of the United States has the power for debt forgiveness. He does not. He can postpone, he can delay, but he does not have that power. That has to be an act of Congress.” - Nancy Pelosi in her weekly press conference July 28, 2021
NPR ran an informative article describing ithe issues motivating younger voters this time and they site studies done by groups at Tufts and Duke and by their own interviewers and found the following:
"Youth voters said they were motivated by issues including gun control, student debt, climate change and the abortion debate, which both Democrats and Republicans had made a banner issue after the repeal of Roe v. Wade. "I feel like, especially given the overturning of Roe v. Wade, I think that made a lot of people who are less reactionary to politics to be very upset by this," said 19-year-old Emory University junior Sofia Damer-Salas."
I think those are some very good reasons to get up and vote, as they did, and I applaud them for doing so. And I guess that's the way democracy works.
NPR ran an informative article describing ithe issues motivating younger voters this time and they site studies done by groups at Tufts and Duke and by their own interviewers and found the following:
"Youth voters said they were motivated by issues including gun control, student debt, climate change and the abortion debate, which both Democrats and Republicans had made a banner issue after the repeal of Roe v. Wade. "I feel like, especially given the overturning of Roe v. Wade, I think that made a lot of people who are less reactionary to politics to be very upset by this," said 19-year-old Emory University junior Sofia Damer-Salas."
I think those are some very good reasons to get up and vote, as they did, and I applaud them for doing so. And I guess that's the way democracy works.
They voted, and what will they get in exchange: Higher bills from more Bidenflation. No student debt relief (it couldn't pass when Democrats controlled everything, it certainly won't now). There won't be any federal action on gun control. Any action will take place on the state level (which is where it should be left, since people in different states have different views on guns) and any benefits of such policies will be more than overshadowed by rising crime due to the coming Biden recession, the defund the police movement and the elimination of cash bail. There will be no federal action on abortion (the Dems had the past few years with full control to enact such legislation and did not). Any action will take place at the state level (which is where it should be left, as there will never be a consensus on when it is acceptable to end a human life). With regards to climate change, CO2 emissions increased 6% in Biden's first year in office. They will trend down, but that started in the Bush administration and continued during the Obama and Trump administrations. The coming recession will continue the trend, but those young voters will face diminished employment opportunities upon graduation. Meanwhile, the gas and natural gas we are not buying will end up in China or SE Asia along with some of the jobs the students and recent grads could have had (global CO2 emissions reached an all-time high in 2021, in spite of US CO2 emissions being almost 20% below their all-time high). Face it: You were used.
Amazing what free stuff will do, for awhile anyway.
that's the amazing thing...the deficit was c. halved and on the monetary side things are very very tight. But we STILL have very high growth. Remarkable.
I suppose a deficit halved is still quite large so fair enough on that.
The Fed balance sheet of $9 Trillion dwarfs everything. Add that to a government that cannot pay its bills without borrowing. You are kidding yourself with fantasy stories.