The only thing surprising about this….
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I do read PJ Media. Especially Instapundit, but I rarely venture over to Epoch, because of the paywall.
But, I digress...As a supposedly wise man once told me, if it happens on your Presidential watch, you own it. The Consolidated and American Recovery happened after Mr. Biden was elected. Mr. Biden paid people not to work and vastly increased the money supply. I suspect, but do not know, that even after his inflationary measures started to take effect, he has still leaned on the Fed to supply cheap money.
Now, I'm no economic expert like you, I'm just a dumb ol' country boy, but can you explain to me how increasing a fiat money supply, paying people not to work, firing people who won't take a vaccine that doesn't work, purposefully jacking energy prices through the roof, advocating artificially low interest rates and now stumping for more billions of dollars of COVID money helps the American economy?
I think reasonable people can ask those questions...
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Messrs Trump and Biden paid people not to work, though that’s been over for some time. Trump appointee Powell goosed the money supply.
The good news for you is that Biden reappointed him in December, so you can blame future money supply growth in Biden of you wish.
Anyway, the idea that “the man created inflation with his policies” is really an emotional opinion not a reasoned one. It’s the thing that you want to be true, and pj media and epoch times are there to give you what you want. That’s the main risk of getting your news from ideological sites.
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@jon-nyc said in The only thing surprising about this….:
Messrs Trump and Biden paid people not to work, though that’s been over for some time. Trump appointee Powell goosed the money supply.
The good news for you is that Biden reappointed him in December, so you can blame future money supply growth in Biden of you wish.
Anyway, the idea that “the man created inflation with his policies” is really an emotional opinion not a reasoned one. That’s the main risk of getting your news from fringe sites.
If it walks like a duck, quacks like a duck, etc.
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For the next 6 months, it’s on the Dem controlled Congress.. They are the ones that passed the legislation…
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“Cry havoc and let slip the DOGE of war!”
Warning: I post things that interest me. Read and comment at your own discretion.
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Inflation was coming regardless, if it was not already there. I do think his policies made it worse. The recovery act in 2021 was unnecessarily large and may not have been necessary at all. There was a political side to it that became more important than its actual effect. I think his energy policies were intended to make gas prices rise and he got his wish.
“I am fond of pigs. Dogs look up to us. Cats look down on us. Pigs treat us as equals.” ~Winston S. Churchill
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Whether in office or not, he would have been fully supportive of any existing policy which has caused inflation, and many I’m sure which would have caused even more inflation. But I know we’re not supposed to believe anymore that party affiliation has anything to do with fiscal responsibility because (insert statistic here).
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Look at the global economy, and then look at the US economy.
You can argue Biden is responsible for the difference. Saying he created the entire global mess is giving the distinguished old chap a little too much credit.
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@Jolly said in The only thing surprising about this….:
I do think he has caused it with his policies, energy chief among them.
Most of them haven’t gone into effect (federal drilling) or wouldn’t have been contributing to production yet (keystone). I can’t offhand name any that would have had an actual material impact on supplies.
Can you?
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@Horace said in The only thing surprising about this….:
Whether in office or not, he would have been fully supportive of any existing policy which has caused inflation, and many I’m sure which would have caused even more inflation. But I know we’re not supposed to believe anymore that party affiliation has anything to do with fiscal responsibility because (insert statistic here).
The GOP seems to have lost the path too.
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@jon-nyc said in The only thing surprising about this….:
@Jolly said in The only thing surprising about this….:
I do think he has caused it with his policies, energy chief among them.
Most of them haven’t gone into effect (federal drilling) or wouldn’t have been contributing to production yet (keystone). I can’t offhand name any that would have had an actual material impact on supplies.
Can you?
Just the existence of the leases and exploratory permits help drive the costs down as other oil producing companies respond. And the fracking policies also affects oil futures as well as Natural Gas.
I’m surprised more people aren’t discussing refinery issues, though. That’s a part of this…
The Brad
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@LuFins-Dad Leases are still operable and being signed and renewed. The courts stopped his moratorium before it went into effect.
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@jon-nyc said in The only thing surprising about this….:
@Jolly said in The only thing surprising about this….:
I do think he has caused it with his policies, energy chief among them.
Most of them haven’t gone into effect (federal drilling) or wouldn’t have been contributing to production yet (keystone). I can’t offhand name any that would have had an actual material impact on supplies.
Can you?
You may know finance better than I, but much of any economy is built on public perception and politics. If people are confident, they act differently, they plan differently and they spend differently.
Mr. Biden rapidly lost the confidence of the majority of the American people, particularly the small business people. Without Main Street, there is no Wall Street.
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@jon-nyc said in The only thing surprising about this….:
That’s the equivalent of saying Biden’s mean tweets caused inflation.
And the quadrupling of the money supply was just incidental?
No. But no financial trend is an island. It can be helped or harried, depending on perception and politics.
