He’s making a vague claim. The inflation had bottomed out, as he was getting to office, due to the pandemic, and right as it was about to take off, due to the fed stimulus.
That cycle did not ebb until 18 months into Biden’s term, and then it started coming down.
That is beyond Biden or trump’s control
So MAGAs can chill, it’s just playing with words and politicking.
Presidents rarely have an effect on inflation.
Unless they do something like start a trade war with China
@Northwest So lying is just politicking? Is that correct? Biden just said he would put a 100% tariff on Chinese EV's. Is that going to cause a trade war? Or is he lying about that too. You know, politicking?
@DogMan I don’t know of he’s lying, or if he misspoke. The number is not correct.
It is, however, important to understand what these numbers mean. Neither Trump nor Biden, can claim these numbers. This was a Covid induced black swan event.
So Trump can stop bragging about the 1.9%, because it did not happen thanks to his foresight.
But that’s where the politicking mention fits in.
You should probably look up “black swan” event.
Here’s china’s % of the US EV car market: zero.
Here’s china’s planned share of the US EV car market: zero.
You should educate yourself about the EV market. Pick up the WSJ. Or something. They’ve been covering this topic for a while.
What Biden is not saying is that parts are not covered, so he can impose a 100% tariff without raising prices. That 100% multiplied by zero. Need help with the maths?
And that is politicking as well.
Imposing a 100% tarried on everything? Only a fucking moron would do that.
@NoThanksLeon Unemployment was through the roof when Trump left office, was that his fault? It’s at a historic low right now, does Biden get credit for that?
@Spoiledbrat Actually, that's not true. Raising the minimum wage has very little effect on prices. And I'm not sure who you're talking about who "raised it by a lot." The current minimum wage of $7.25 per hour hasn't been raised since 2009. The tip credit minimum wage that applies to servers in restaurants is still $2.13 per hour, and hasn't been raised since 1991. If you're complaining that restaurant meals cost more, none of that increase has gone to servers for 33 years.
@Spoiledbrat Even here in Georgia, fast food places are advertising entry level positions starting at $14 per hour because they can't get people to work for less than that.
If the minimum wage had kept up with productivity, it would be at least $25 per hour and possibly as high as $40 per hour. Wages and productivity rose together until 1980 when productivity continued to rise and wages stagnated (corrected for inflation). It's estimated that the top 1% has taken $50 trillion in wealth from the bottom 90% over that period. But yeah, let's blame the people on the bottom for making life harder for the rest of us who are only slightly better off.
@LeopoldBloom From what I’ve read, unfortunately unemployment is a statistic that doesn’t affect the vast majority of the country. Even when times are tough most people keep their jobs. So if Trump were smart he would happily take the blame for high unemployment if it meant that he could also take credit for low inflation, that would be an excellent trade for him.
Politically, inflation is actually one of the worst sins a president can “commit”, because even if wages rise to keep up with inflation people will feel like they earned their raise just to have inflation eat it all up.
