Still higher than before January 2021
Man, you really ARE Trumpian aren’t you! You’re pathetic! Unable to think for yourself. I remember a different parrot, not seen 'round these parts in some time.
What the e fuck does trump have to do with the disaster of an economy since 2021??
You brought up Jan 2021, which is when Biden came to office. You’re blaming Biden for all this inflation when it’s far more complicated than that. But you’re not a thinker, are you Parrot…you’re reactionary. And you probably got this talking point from a facebook page.
Biden was President in January 2021!!!
This is all about how the Biden administration policies are historically bad, but in true gaslighting fashion they post a celebratory tweet about how ithe economy isn’t as bad as it was earlier in their administration.
And I literally copied the official White House tweet, not some FB meme.
I realize you aren’t a “fan” of Biden, but you sure as shit can’t find fault with any of his disasters.
Of course the WH is going to say how amazing he’s doing with inflation, just white noise. But you’re smart enough to realize the runaway inflation was a worldwide problem in late 2021 to 2022 and was a bit of a black swan event.
Don’t pay any attention to what the WH press secretary says and don’t fall for the trap that one man is responsible for the World’s problems. Except for Hitler, he was responsible for the world from 1938-45.
I thought it was Putins fault?
We know Biden is just too stupid to actually be able to blame him for anything!!
Another WH talking point, don’t pay too much attention to it.
I just have a hard time blaming one man for the destruction of the republic. You’ll never recall this but I said the same thing about Trump when others said America was over. This too shall pass.
Wait a minute? 18 months ago when all the Biden apologists were saying that inflation was “transitionary” and those of us who understand eco were saying it was structural, we were wrong. But now, even though we turned out to be right, it was a “black swan”, so even though we were right we were still wrong since the economy just sucks balls now, instead of sucking balls at historic levels?
Sure, but it will take a long time to recover from the historical damage Biden has done.
He didn’t mention trump once.
Wasn’t Biden president in 2021?
The first post refers to before January 2021.
It’s higher than anytime during the Trump years and 3 times higher than the Fed wants inflation to be. I guess to Biden fan-boys over 6% inflation is a good thing.
Meaning, the entirety of the Biden Administration.
You have to have a point of comparison.
It isn’t so much Trump. Actually, it’s not about Trump at all because, as BMW mentioned, a president really has no control over inflation. I’ve heard that Biden would be just like another Obama term, similar policies, yet inflation didn’t seem to be an issue. But I’m pretty sure that at some point between 2009 and 2017 that some who are blaming Biden’s spending is that very likely pointed to the outrageous spending under Obama that would be the trigger for inflation. It didn’t happen, then Trump took office, gave a tax cut, rolled back regulations and this triggered the best economy in the recorded history of man. But one of his little discussed policies was to continue the rate of spending, and I guess all the noise from folks singing “Happy Days are Here Again” drowned out the warnings that this out of control spending might trigger inflation, because I didn’t hear them. Then we had a worldwide pandemic, which created supply chain issues. And that inability to meet demand, combined with the out of control spending that had been going on since 2001 set the stage for January 2021.
Inflation was brewiing long before Biden said “So help me God”. You guys don’t seem to believe that any of the “policies” in the prior decades had anything to do with it.
Oh yeah…and FWIW, the root cause of the supply chain issues weren’t Biden’s policies - it was the Free Market that laid the groundwork for that. We shipped manufacturing to China and other countries. It was cheaper and provided a better return for investors. The second was also a cost cutting measure called “just in time delivery”. Meaning we didn’t stock the materials to finish products and instead the materials would magically appear “just in time” to be used. When a little thing like a supply chain hiccups due to…oh…a worldwide pandemic, everthing might tend to go up Instead, we have inflation because Biden cancelled an unfinished pipeline.l
You think China is free market?
I’ll slow down. The sole purpose of any company is to provide a good return for shareholders, or so I’ve been told. The free market determined that in order to provide higher profits at a cost that allows a significant profit for the price. We could do it in America, but we found that it was cheaper to move production to China and other countries in order to avoid the significantly higher labor costs. Now…Apple sells a iPhone for $1,000. That includes the cost of labor, which is in China (moving to Vietnam I guess). The phones could be built here, with significantly higher labor costs. And while the production costs would still be below $1,000, they would be significantly higher, resulting in a much lower profit per phone sold. So - because shareholders are the prime reason a company is in business - production is sent overseas. The free market determined that. Indeed Trumps tariffs were supposed to encourage companies to bring production back to the US, but a 25% tariff is still far less than paying an American to build it.
But if we support policies that bring production back to the US we are labeled “racist”!!