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

@redredred More proof that you fail to understand global economics and are engaging in right wing partisan blather.

@TrashCat inflation is ONLY caused by governments. My understanding of global economics is based on my Masters in Economics degree. What’s the basis for yours?

@redredred Wrong. It can also be caused by cataclysmic events as hurricance, eatquakes. If you are educated as you say, why dont you know that production, services, raw materials, and wages contribute. Cost of gas, etc. Prices of consumer goods were already on the rise when Biden took office. For example, Trump's China policy drove soy though the roof and US farmers were getting bllions in relief.
Cost of building materials were rising and anyone who bought plywood & OSB in 2019 knows this. You must have gotten your degree from TrumpU.

@redredred You're going to confuse these leftist clowns with facts.

@ron122 You seem to be confused

@TrashCat 🥱

@redredred You almost had that right... All except the bit about the Democrats and 2 years.. This has been going on to a greater or lesser extent since the GFC and took off under the previous administration well before the Pandemic.. And thats why its not working any more for America. It had all the stops pulled out just to keep it afloat before the Pandemic.,😷

@redredred That is utter nonsense. Inflation is caused by a shortage of goods worldwide because of the supply chain. You definitely qualify as trumps poorly educated.

@Ryderbike Quick Ma! Come look at the man who doesnt even know what inflation means!!😷

@whowasthatmaskedman I know exactly what it means. Too many dollars chasing too few goods. Capitalism 101 supply and demand

@Ryderbike Nope, guess again.

@Ryderbike No.. And with that level of understand I clearly have to explain to you what money is before I can start educating you. 😷

@whowasthatmaskedman Nope, debt incurred by the sale of bonds does not materially add to the money supply. Printing more unbacked or fiat currency does. There’s a difference

@redredred The order for fiscal year 2021 – which ended in September 2021 – resulted in $325 billion being printed, Washington said. For the ongoing 2022 fiscal year, the Fed has issued a print order ranging from $310 to $356 billion.

More:Is the U.S. headed for a recession? This Wall Street bank thinks so.

That's an increase from print orders of around $200 billion in 2019 and 2020, driven higher by the COVID-19 pandemic.

The volume is based on the board's estimate of currency demand in the coming year. That estimate is determined by forecasted currency inventories, destruction rates of unfit notes, trends in net payments and other factors, the print order says

@Ryderbike so you agree that Joe Stupid had more money printed thus causing inflation by putting more money chasing static goods.

@redredred I’m educated

From the bank of Canada


The Canadian economy is running hot
Over the summer, the consumer price index dropped slightly—to 7.6% in July from 8.1% in June.
While overall inflation may have peaked, most of the drop was due to gasoline prices. Inflation has continued to rise and broaden across goods and services. And globally, we’re still seeing supply chain bottlenecks and high commodity prices, both of which contribute to inflation here in Canada.
Domestically, demand continues to outpace supply. Consumer spending, particularly on services, was robust in the second quarter of 2022. And significant labour shortages persist, with the unemployment rate at its lowest level ever.
While housing resales and house prices dropped from unsustainably high levels, the Canadian economy remains in excess demand, and inflation is more and more broad-based.

@Ryderbike one more time and then I’m done. If you don’t get it this time, it’s not my fault.

Inflation is ALWAYS a policy. It is not a natural disaster, it is a conscious decision by the government. The pandemic was a conscious governmental decision by the CCP. Shipping disruptions were a governmental decision.

More important by far than either of those as the decision by Joe Stupid to run the printing presses at the mint overtime and flooding the economy with decreasingly valuable fiat currency. THAT is what causes inflation. It is ALWAYS a government policy decision. I’m not going to waste my time arguing the obvious with anyone.

@redredred Your definition of "obvious" needs work.

@redredred You credit governments the world over with way more control of economies than they actually have. Now IF you have a centralised government AND you provide all your own raw materials and Manufacture everything nation consumes what you propose is just possible. But since imports raw materials and energy by the megaton and sells to the world and America imports almost everything and exports almost nothing other than stuff that is meant to kill their pricing structures are subject to global influences, plus the laws of supply and demand that move prices. Now I take no pleasure in telling you that you are wrong. So I wont. But you get the idea..😷

@whowasthatmaskedman nothing you said prove me wrong. In fact you confirmed what I told you all along which is that inflation is caused by supply and demand in this case. The demand far exceeds the supply.

Thank you for reaffirming my position

@Ryderbike You sure know a lot about nothing.🤣🤮

@redredred Inflation is caused by too many dollars going after to few goods in todays world,

The supply chain interruption has caused a shortage of goods. What in the world do you think capitalism 101 supply and demand is all about?

@ron122 oh i’m pretty sure the Bank of Canada has a pretty good idea what’s going on

From the bank of Canada


The Canadian economy is running hot
Over the summer, the consumer price index dropped slightly—to 7.6% in July from 8.1% in June.
While overall inflation may have peaked, most of the drop was due to gasoline prices. Inflation has continued to rise and broaden across goods and services. And globally, we’re still seeing supply chain bottlenecks and high commodity prices, both of which contribute to inflation here in Canada.
Domestically, demand continues to outpace supply. Consumer spending, particularly on services, was robust in the second quarter of 2022. And significant labour shortages persist, with the unemployment rate at its lowest level ever.
While housing resales and house prices dropped from unsustainably high levels, the Canadian economy remains in excess demand, and inflation is more and more broad-based.

@Ryderbike HAHA you are so easy.🤣