@SpudMuffin yeah...Dems stole the election, and Biden's first act as POTUS, knocked over the first inflationary domino by shutting down the Keystone pipeline.
Ohhh...but you want to blame COVID, right?
And yet...circled is your covid deflation and the arrow is when Biden took office
@BizSuitStacy I give up with you people - I have tried to have a reasoned discussion, but you just want to hear your own views parroted back to you. America is a lost cause, whether it's due to the low intelligence of the population or your bizarre so-called educational system doesn't really matter. The best thing the rest of the world can do is build a wall to keep you from causing trouble.
Biden's first act as POTUS, knocked over the first inflationary domino by shutting down the Keystone pipeline.
So every inflationary pressure since January 2021 - supply shortages in consumer markets, savings surpluses, housing shortages, government budget deficits, price gouging, the escalation of war in Ukraine - can be linked to Biden revoking the licence for the expansion of a oil pipeline between Canada and America? 🤔
@BizSuitStacy the fact is that prices increased dramatically around the world, not just in the USA. I know it's difficult for you to grasp this, but there is a world out here that doesn't revolve around whoever happens to be president of the USA.
@Thrust answered what? I replied to the OP pointing out the false assertion that Biden caused inflation in the USA, when prices were going up everywhere.
Are you unable to have a grown-up discussion without resorting to childish insults? @Thrust
@BizSuitStacy Inflation in a global economy is usually attributable to macro-economic events. No one should be "blaming" any single politician for stoking it (or giving them credit for reducing it) unless they do something remarkably stupid . . like interfering in the independence of their central bank.
The first economic shock that stoked inflation was without doubt Covid. It massively disrupted consumer supply chains. Governments reacted by pumping huge amounts of money into the economy to stimulate demand and stop people from losing their homes or starving. None of this was "wrong" - although in hindsight much stronger controls should have been exercised to prevent fraud and price gouging by private companies - but the inevitable impact of a mismatch between supply and demand is higher prices in the medium to long term. That these manifested themselves in 2021 rather than 2020, is wholly irrelevant. The free market is more or less oblivious to domestic politics . . and note how quickly it even adjustrd to Trump's random outbursts on tariffs, which is arguably an international foreign policy.
Try to resist Trump's impulse to politicise and simplify everything. You will feel much better for it 😌
@BizSuitStacy I know this is difficult for you, but please try and understand. You are blaming Biden for something that happened globally. I appreciate that thanks to the woeful state of education in your (for want of a better word) 'country', you probably don't believe that anything could happen in the rest of the world that isn't directly connected to the USA.
Please try and grasp this concept, it is so important.
@Thrust Good, we are making progress in establishing that increased money supply is an important inflationary pressure . .
Now having asserted that the Covid stimulus packages that Biden got approved by Congress (which extended the provisions of Trump's 2020 CARES Act and directed money towards lower paid Americans, unemployment benefits, and schools trying to adapt . . rather than Wall Street) stoked inflation, would you not agree that the $2.2 tn of stimulus funding announced by Trump in March 2020 did exactly the same thing? Or indeed similar stimulus packages passed by virtually every other rich nation in the world?
This shouldn't be a political issue - the consequences of doing nothing would have been far worse than what actually happened. High inflation is simply a fact. It affected most rich nations equally at the same time and most rich nations have used the same tactics to reduce it.
@SunshineGirl You can mark the inflationary beginnings to the ink drying on the EO to shutdown the pipeline. The inflationary pressure of the mid 70s...it started with a shock to the oil supply.
