Looks like we will be forced to suffer low prices again since Biden's approval is around 40%
i decided i no longer approve of biden's job performance
Posts
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@Greyparrot
Do you not realize that inflation was a global problem,It wasn't.
Yes, it was.
The fact that you can cherry pick a list of countries that weren't as badly affected does not mean it wasn't a global issue.
I think he was saying it was unnecessary, and exacerbated and prolonged the inflation.I am sure you will have to agree with that.
Whether it was necessary is entirely subjective. What is undeniable is that our economy was still not nearly recovered, so if he didn't that would have prolonged the recession further, which you guys would then be criticizing him for.
It's damned if you do, damned if you don't. Just like how you and ILP5 are hitting him here for not doing enough to stop companies from setting their own prices, meanwhile if he did more you guys would be screaming from the mountaintops that he's destroying the country with big government socialism. These aren't serious critiques, it's a game where you find any excuse to trash him.
Regarding the inflation, I don't deny that the stimulus payments contributed, but first off its miniscule compared to the impact of the supply chain disruptions, second it's absurd to suggest only the third one contributed and not the first two. And if you are really hanging your hat on this idea that inflation is entirely about government injecting money we don't have into the economy, then you have to blame Trump even moreso since he blew up the deficit more than any president before him. Inflation hit us hard before any of Biden's policies had any chance to have a meaningful impact, ignoring that and blaming Biden regardless is flagrant partisan hackery.
The fact that you can cherry pick a list of countries that weren't as badly affected does not mean it wasn't a global issue.
Nope, seems like you are cherry-picking USA and EU inflation rates and then claiming it's a "global" problem...
Regardless, as you don't seem to care about the other major countries (you know...ones with a billion people in it) globally that had around 3% inflation over the same period, (those inconvenient countries at the bottom of the chart you posted who are not tied to the US dollar also conveniently), it's clear USA was way worse off than most countries due to the severe lack of austerity measures and ridiculous monetary policies.
But it's not surprising a straight white male would take a Eurocentric view and extrapolate that as a "global" trend. Par for the course.
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@Greyparrot
Nope, seems like you are cherry-picking USA and EU inflation rates and then claiming it's a "global" problem...
This is just stupid. I'm not going to sit here and debate with you what "global" means. The following 3 paragraphs contained the substance of my post, so not surprisingly you ignored them and only responded to the one part you think you got me on. Another demonstration of how unserious you are to talk to.
"I miss mean tweets and low gas prices"
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@Double_R
I'm not going to sit here and debate with you what "global" means
Then why claim it? Unless you are determined to indulge your confirmation bias....
Fact is, according to the chart you posted, most of the world by population had sound monetary policies to compensate for Covid. It's only the EU and USA that are the global outliers with the failed monetary policies.
But go ahead and blame it on Covid again, see if it works this time. As if that 3rd round of spending had no effect at all....
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@Greyparrot
I'm not going to sit here and debate with you what "global" meansThen why claim it?
Because it's common sense so I figured we could have a real conversation about it, but as usual, you will challenge even the simplest things to prevent having to address being wrong.
Again, of you actually go back and read my post, this had nothing to do with any of the substantive points I made. I talked about how the decision to inject more money into the economy was not an isolated decision, so criticizing it is such is brazenly dishonest. Had Biden not done that the recession would have only been prolonged, which would have resulted in the need to print more money anyway so the inflationary impact of that decision (however impactful it was) was inevitable regardless of what he did.
I also talked about how even if I grant you that US government spending was in fact the catalyst, that all you guys want to point to is the third stimulus payment and not the first two, which is again, brazenly dishonest. You also disregard the fact that the prior administration blew up the deficit worse that any administration before them, so putting this all on Biden is just plain stupid.
But yeah, let's sit here and debate what global means.
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@Double_R
But yeah, let's sit here and debate what global means.
I am sure you know what a partisan narrative is. When people in power claim a problem is global when it really is not, it's up to the media to challenge those in power, not perpetuate the propaganda. There was a clear difference in monetary policy between the countries that had 8% inflation in 2021 and the policies of countries that experienced 3%. To obfuscate those bad policies by claiming it was just a "global problem" is like blaming the devil for your own sins. What's worse is that we never get to learn from the monetary policies that actually worked so that the cycle might not repeat in the future.
This is 3rd grade stuff.
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@Double_R
I also talked about how even if I grant you that US government spending was in fact the catalyst, that all you guys want to point to is the third stimulus payment and not the first two, which is again, brazenly dishonest.
Let's look at the charts. When Biden passed his 3rd round, inflation was climbing slowly. So Biden KNEW there was an inflation problem, yet spent the money anyway. The result was an immediate spike to 8% inflation over the following months. So blame Biden? You betcha. If he didn't know better, his advisors should have. To excuse the behavior is to ask for more of the same. America cannot afford to be so naive. There's a huge difference between 4% and 8% inflation. Lots of poor people got a serious shaft over this. Was Trump bad? Yeah. Was Biden a lot worse? Absolutely.
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@Double_R
Had Biden not done that the recession would have only been prolonged, which would have resulted in the need to print more money anyway so the inflationary impact of that decision (however impactful it was) was inevitable regardless of what he did.
Inevitable? Wow. And this is why people dream to make America great again, when the government didn't spike prices up by printing money as a fix for a supply/demand market correction.
A recession is a function of supply and demand. Increasing the money supply by, say, $10 trillion only introduces $10 trillion more into the economy. It doesn't magically conjure $10 trillion worth of goods. More dollars chasing the same amount of goods would cause prices to spike in a major way without affecting the supply issues that caused the recession...
Bottom line is, no government can print money to get out of a recession or downturn. The deeper reason for this is that money is really a facilitator of exchange between people, a middleman in a trade. Money is not a substitute for actual production. Just look at all the historically failed countries that tried to do this. https://www.sofi.com/learn/content/worst-cases-hyperinflation-history/
Inevitable? God save the USA from demagogues and propaganda.
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@Double_R
Well stated.
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@FLRW
Lol, low effort trolling isn't going to help Biden's 37% job approval rating. But keep up the good fight anyway.
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@Greyparrot
Well, Trump registered several 49% readings in early 2020 before falling to 39% in May 2020. He ended his presidency with 34% APPROVAL. Trump is the only president not to register a 50% job approval rating at any point in his presidency since Gallup began measuring presidential job approval in 1938.
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@Greyparrot
Poorly stated.
Too bad the next election will be in 2024, not 2020. It's too late to be great again. The 2024 people now have things other than mean tweets to worry about. Like paying for basic food and fighting a government that wants to take it all away and hand it to illegal invaders, Ukraine, and Israel.
when the government didn't spike prices up by printing money as a fix for a supply/demand market correction.
That’s nonsense. You don’t know what you’re talking about.
Eggs are more expensive because of bird flu. 63 million chickens have been destroyed by egg farmers in the last 2 years.
Gas is more expensive because nobody wants to build new refineries for a product that is the next kerosene.
Labor is more expensive because of Trump’s idiotic handling of immigration
Supply chain issues in the wake Covid persisted into 2023.
The easiest way to lower prices would be to have high unemployment like we did under Trump. Let’s lay off some substitute teachers.
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@Greyparrot
There was a clear difference in monetary policy between the countries that had 8% inflation in 2021 and the policies of countries that experienced 3%
It's not nearly as clear as you make it sound. The countries who decided to pass stimulus measures were almost entirely wealthier nation's who had very high rates of imports vs experts, so the level to which fiscal policy itself was responsible is much more difficult to assess because it was all intertwined. The federal reserve estimates the stimulus impacts as being responsible for 2.5% of our inflation, and that's all three of them. Hardly the narrative you're desperately trying to craft.
Again, the claim is not that the stimulus payments did nothing, it's that with "Biden's" stimulus payments in particular, you're talking about a piece of a piece of the story, yet you pretend that's the entire story. It's the dishonesty that is noteworthy here.
Let's look at the charts. When Biden passed his 3rd round, inflation was climbing slowly. So Biden KNEW there was an inflation problem, yet spent the money anyway. The result was an immediate spike to 8% inflation over the following months.
Again, you tell half the story and ignore the half that is inconvenient to you.
Biden took office just as the vaccines came out correlating precisely with a sharp drop in cases and by extension a reopening of many businesses that were shut down or severely impacted by people staying home. It ALL happened in the recovery phase of the pandemic and it all contributed to inflation, not just the one piece of a piece that you want to focus on.
Was Trump bad? Yeah. Was Biden a lot worse? Absolutely.
Out of those two choices, remind me again which one had the federal reserve change it's entire printing system in order to put his signature on the checks so he could take full credit, and thereby delaying payment to millions of Americans as a result?
You can have a legitimate disagreement with the third stimulus, you cannot pretend Trump would not have eagerly done the exact same thing.
Inevitable? Wow. And this is why people dream to make America great again, when the government didn't spike prices up by printing money as a fix for a supply/demand market correction.
Pretty sure the America you and all your white friends remember is not one that was recovering from a once in a century pandemic.
Again, only half the story matters to you, because criticizing Biden is the only point here.
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@Double_R
Pretty sure the America you and all your white friends remember is not one that was recovering from a once in a century pandemic.
2 dollar gasoline doesn't care about skin color. Neither will the votes against Biden care about the skin color. womp womp.
2/5 for racebaiting though.
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@Greyparrot
2 dollar gasoline doesn't care about skin color. Neither will the votes against Biden care about the skin color. womp womp.2/5 for racebaiting though.
It was a nod to the stupidity of your post 63.
But once again you ignore the substance of everything I said in order to cherry pick the one thing you thought you could take a shot at. Why do you bother?
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@Double_R
It was a nod to the stupidity of your post 63.
Nothing stupid about it. White culture is generally recognized (painfully in the case of America) as synonymous with a Eurocentric worldview.
And you still haven't learned what China, Japan, and India did to stop inflation, apparently.
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@Greyparrot
And you still haven't learned what China, Japan, and India did to stop inflation, apparently.
Already addressed your comments on this. Learn how to read.
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@Double_R
That's not true. You never addressed those policies.