Biden administration ratings have just gone down to match the Carter administration.

@MasterDvdC Before I leap to conclusions, would you care to break down that grade?

@soar2newhighs Apparently, he fucked everything up in the entire world. Possibly the solar system.

@fanuc2013 So you know the future ? How stupid is that ?

@KALIS Care to make a bet?

@fanuc2013 Who really cares . I'm not American and his leadership doesn't affect me either way

@ViciDraco Trump -russia collusion wasn't factual, but that didn't stop people from being mad about it!

@TheOneyouwerewarnedabout it has some impact on inflation. But the impact is miniscule compared to the impacts of low unemployment and supply chain disruptions. The supply chain disruptions are not just surface level things being stuck on boats, but due to sudden demand drops during the pandemic production slowed. As economies are reopening demand is outpacing how quickly production and transport has been able to ramp back up.

That's why inflation is a global problem and not just a US problem.

For gas prices, they may stay high. Reinvestment into oil has dropped significantly since the pandemic sent us briefly into negative oil prices. There are thousands of unexercised approved land leases for drilling. Oil producers are also colluding to keep the prices up. Smaller competitors used to make that more difficult, but a lot of them changed their tune or went out of business with negative oil.

Oh, and a decade of easy debt didn't help either. Raising interest rates earlier probably would have helped. It would have cooled economic growth earlier but it would have helped avoid this moment here.