Democrats most to blame for inflation
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@wtg said in Democrats most to blame for inflation:
I wondered how the US did when compared to other countries with respect to inflation during COVID. Turns out we did do worse, at least initially.
Couple of years old, but some thoughts from a couple of analysts at the SF Fed.
tl;dr
The United States is experiencing higher rates of inflation than other advanced economies. In this Economic Letter we argue that, among other reasons explored by the literature, the sizable fiscal support measures aimed at counteracting the economic collapse due to the COVID-19 pandemic could explain about 3 percentage points of the recent rise in inflation. However, without these spending measures, the economy might have tipped into outright deflation and slower economic growth, the consequences of which would have been harder to manage.
I haven't checked around for how our inflation rates compare to the rest of the world during the most recent couple of years, prior to the above analysis.
The part that’s hard to quantify with all of that is how much the US Inflation also impacted other countries economies. The US Dollar is the world’s principle reserve currency with over 60% of global central bank currency held in the USD. When the USD loses value domestically, it loses it internationally as well and causes ripple effects around the world.
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@wtg said in Democrats most to blame for inflation:
I haven't checked around for how our inflation rates compare to the rest of the world during the most recent couple of years, prior to the above analysis.
About average, apparently
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@Renauda said in Democrats most to blame for inflation:
Odd, we blame the Trudeau Liberal government for the inflation.
In fact we blame Trudeau for everything bad that has occurred in the world since The French Indian War.
There's a reason for that. He's just so very blamable. Plus, he looks like he's Fidel's kid.
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Plus, he looks like he's Fidel's kid.
So foreigners say. To us he is clearly Pierre Trudeau’s progeny; has his father’s eyes, facial features and mannerisms. Unfortunately though, he also inherited the old man’s arrogance but none of his intelligence or originality. On the other hand, he’s definitely his mother’s spoiled little brat.
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"My pronouns are FA/FO." - Mik, 2024
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LOL This guy is perfect for TNCR.
Like me, he can speak with authority on any subject, even if he doesnt really know much about it. 555
Send him an invite to the room!!
On another note, I was reading an economist who said that the massive stimulus stopped the US from going into recession (or worse). I guess it depends on which would have you rather have - inflation or recession.
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"My pronouns are FA/FO." - Mik, 2024
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@Mik said in Democrats most to blame for inflation:
So you can decry one writer, while throwing up another to buttress your point? That seems silly. Are you declaring that a well-educated person cannot understand economics?
Not at all. I think most of the people here on this forum board are pretty well read outside of their specialty.
But I just dont think that his arguement is very valid.
