How did Biden manage to create inflation and high gas prices in other countries?

Just curious how Biden has that much power.

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NatureGuy77 · 56-60, M

By other governments pursuing the same government overreach ours has. Overspending, overegulation

Burnley123 · 41-45, M

@NatureGuy77 Our government (UK) recently announced the most 'libertarian' budget in living memory. I don't know if you ever follow international news but let me assure you that this did not work out too well.

NatureGuy77 · 56-60, M

@Burnley123 Inflation has not come about recently. Started in earnest ‘21

Burnley123 · 41-45, M

@NatureGuy77 To fill you in, our mentioned conservative budget caused our budget to devalue with tax cuts .

The inflation started under our conservative govt and their tax cuts made the situation worse.

NatureGuy77 · 56-60, M

@Burnley123 To fill you in on ours, it started under a liberal administration providing stimulus and government spending aggressively and economic policies that reduced supply

Burnley123 · 41-45, M

@NatureGuy77 It's true that stimulus plans can cause inflation. They can be needed for other reasons, though inflation is sometimes a cost.

Your argument has a huge causality problem because other things can cause inflation. And the have, to be honest.

The UK has inflation at over 10%. There has been no stimulus plan and it's been a conservative govt for twelve years.

Linking inflation to a democratic president might be politically useful for an American conservative but the one problem is that it's not true. There is no credible economic modelling that shows US inflation as being connected to anything Joe Biden has done. It's like blaming the wind for a house falling down when foundations were missing. The wind might have blown mildly in that direction but it's not the cause

NatureGuy77 · 56-60, M

@Burnley123 Plenty of analysis have linked to his policies. Just none that you subscribe to.

SunshineGirl · 36-40, F

@NatureGuy77 As I remember, there was a very expensive stimulus package introduced by the last, extremely illiberal administration, that involved handouts of public money to all, irrespective of need. The origins of current high inflation and pressures on labour markets throughout the world lie in the boost to consumer spending occasioned by President Trump's economic policy during Covid.

SomeMichGuy · M

@NatureGuy77

To fill you in on ours, it started under a liberal administration providing stimulus

(Emphasis added.)

NO.

Who started stimulus payments?

The Coronavirus Aid, Relief, and Economic Security Act,[1] also known as the CARES Act,[2] is [b]a $2.2 trillion economic stimulus bill passed by the 116th U.S. Congress and signed into law by President Donald Trump on March 27, 2020, in response to the economic fallout of the COVID disease.[3][4]

(Emphasis added.)

Unprecedented in size and scope,[9] the legislation was the largest economic stimulus package in U.S. history,[14] amounting to 10% of total U.S. gross domestic product.[15] The bill is much larger than the $831 billion stimulus act passed in 2009 as part of the response to the Great Recession.[15] The Congressional Budget Office estimates that it will add $1.7 trillion to the deficits over the 2020–2030 period, with nearly all the impact in 2020 and 2021.[16]

(Emphasis added.)

See
https://en.m.wikipedia.org/wiki/CARES_Act