What Happened to Inflation? Bidenomics

[Srikcir]

 

"Trump says he wants huge tariffs if elected. That could send inflation spiking." May 2, 2024 businessinsider.com

• "Trump has plans for at least a 10% universal tariff on US imports, he told Time Magazine.
• He argues that such a levy wouldn't lead to increased inflation.
• But research from the bipartisan Tax Foundation suggests otherwise, and says Trump's 2018 trade war was also economically damaging."

Remember it's the importer that pays the tariff.

 

 

 

[Will B Good]

1 minute ago, Srikcir said:

 

"Trump says he wants huge tariffs if elected. That could send inflation spiking." May 2, 2024 businessinsider.com

• "Trump has plans for at least a 10% universal tariff on US imports, he told Time Magazine.
• He argues that such a levy wouldn't lead to increased inflation.
• But research from the bipartisan Tax Foundation suggests otherwise, and says Trump's 2018 trade war was also economically damaging."

Remember it's the importer that pays the tariff.

 

 

 

 

 

To be fair he just says what he wants.....says what he thinks people want to hear.....and says things to rile people up for no good reason.....

 

He'll build the wall and make the Mexicans pay for it.....all waffle.....and this time immaterial, as he won't (without an armed conflict) make it to the White House.

[Srikcir]

Sorry Trump, the sky isn't falling except on you.

"US inflation cools again, potentially paving way for Fed to cut interest rates soon"  APnews.com  July 2024

• "US inflation cools again, potentially paving way for Fed to cut interest rates soon."  
• In a better-than-expected report, consumer prices declined 0.1% from May to June after having remained flat the previous month, the Labor Department said."

Fed Chair Powell Signals ‘Time Has Come’ for September Rate Cut, NY Times.com

• Jerome H. Powell made it clear that the Federal Reserve will cut rates on Sept. 18, as the central bank turns the corner in its fight against inflation.

[Hanaguma]

40 minutes ago, Srikcir said:

Sorry Trump, the sky isn't falling except on you.

"US inflation cools again, potentially paving way for Fed to cut interest rates soon"  APnews.com  July 2024

• "US inflation cools again, potentially paving way for Fed to cut interest rates soon."  
• In a better-than-expected report, consumer prices declined 0.1% from May to June after having remained flat the previous month, the Labor Department said."

Fed Chair Powell Signals ‘Time Has Come’ for September Rate Cut, NY Times.com

• Jerome H. Powell made it clear that the Federal Reserve will cut rates on Sept. 18, as the central bank turns the corner in its fight against inflation.

Could have happened a LOT sooner if Biden hadnt spent money like a drunken sailor. Actually, worse than a drunken sailor. At least a drunken sailor is spending his own money. Biden was borrowing and expecting his grandkids and future generations to pay it off.

[TedG]

9 hours ago, spidermike007 said:

I believe Trump started this hyper inflationary cycle when he declared an insane trade war on China and Huawei, with hardly anything to back him up, other than hollow threats, and sanctions, which only hurt the US economy, and US consumers and businesses. The Chinese sensed sanctions coming and went out and cornered the world market on rare earth, chips, motherboards, circuit boards, and other materials. Companies started ramping down production due to Covid. When they started to order these elements and parts, none were to be found or the price had skyrocketed. It started a massive supply chain issue with cell phone, computer and automotive components. Then the shipping issues came later. Then came corporations engaging in historic price gouging. 

 

Few want to look back at where this started. Easier to just make it a talking point, and blame Biden. At the time I said it was the single dumbest thing a politician had done since Chamberlain denied the bad intentions of the Nazis. Trump created hyper inflation, singlehandedly. Thanks, Don.

 

No, that’s not it. 

[maesariang]

Just now, TedG said:

No, that’s not it. 

He makes stuff up. Inflation was low until Biden took over.

[TedG]

8 hours ago, Wrwest said:

And I seem to recall a massive increase in government debt as a result of Trump/Republican actions? (Rhetorical).

You need to toss in the dems.  They controlled the House and Senate.  

[TedG]

6 minutes ago, maesariang said:

He makes stuff up. Inflation was low until Biden took over.

That was one of the dumbest posts I’ve seen on this site. 

[maesariang]

4 minutes ago, TedG said:

That was one of the dumbest posts I’ve seen on this site. 

All the Democrats make stuff up. They have no facts. Harris 1300 days done nothing except support Biden's failures.

[TedG]

6 hours ago, Hanaguma said:

Could have happened a LOT sooner if Biden hadnt spent money like a drunken sailor. Actually, worse than a drunken sailor. At least a drunken sailor is spending his own money. Biden was borrowing and expecting his grandkids and future generations to pay it off.

Biden decided he wanted to be FDR and piled on more spending right after the COVID spending binge.  In 2022 Biden had a never record level of revenue (19% of the GDP) and the deficit was $1.4 trillion. 

 

 

The gerontocracy is leaving behind a mound of debt that will wreck the future.  

 

 

[Irish star]

On 8/23/2024 at 2:54 PM, Hanaguma said:

I think a better title would be "What created inflation? Bidenomics".   The jumps in basic costs, especially housing and food, are hard for ordinary Americans to bear.  And they have the Biden/Harris administration to thank for it. 

Then stay in Canada and leave us Alone 

[TedG]

1 minute ago, Irish star said:

Then stay in Canada and leave us Alone 

 

You support candidates who bring forth inflationary polices. 

[Irish star]

On 8/23/2024 at 3:11 PM, Will B Good said:

 

Nothing to do with covid 19 and global supply issues.....how did Bidenomics managed to cause almost identical inflation in the UK and EU.....Mmmmmm?

I had a friend from Bulgaria he’s a chef in UK he’s doing Well he’s building a beautiful home , and what’s he say The World is Collapsing because of  Biden , I was Speechless, I don’t need ignorant people in my circle 

[Irish star]

1 minute ago, TedG said:

 

You support candidates who bring forth inflationary polices. 

Then what are they lowering rates because of bad policy , did the boogie man Trump teach you how to think 

[TedG]

5 minutes ago, Irish star said:

Then what are they lowering rates because of bad policy , did the boogie man Trump teach you how to think 

 

 

The fed lowered the rate of inflation via interest rate hikes.   The high rates were put in place to combat Biden’s inflationary policies.   

Edited August 24 by TedG

[Irish star]

1 minute ago, TedG said:

 

 

The fed lowered the rate inflation via interest rate hikes.   The high rates were put in place to combat Biden’s inflationary policies.   

Caused by Trump ineptness and Putin War the whole world is suffering, because of Biden lol

[TedG]

7 minutes ago, Irish star said:

Caused by Trump ineptness and Putin War the whole world is suffering, because of Biden lol

 

This is false.   You live in an alternate universe. 

[Roo Island]

5 minutes ago, TedG said:

 

This is false.   You live in an alternate universe. 

He's spot on. You believe in alternative facts. Put up a link proving him wrong.

[Irish star]

6 minutes ago, TedG said:

 

This is false.   You live in an alternate universe. 

Everyone blames Biden , Why we aren’t in control of Oz or UK or anywhere 

[Roo Island]

17 minutes ago, TedG said:

 

 

The fed lowered the rate of inflation via interest rate hikes.   The high rates were put in place to combat Biden’s inflationary policies.   

Ummmm....inflation is under control. The economy is doing good. Where do you get your news?

[TedG]

Just now, Roo Island said:

He's spot on. You believe in alternative facts. Put up a link proving him wrong.

 

The OP made a fact-free claim.  

[Mo Sawadee]

The first thing to take note about Bidenomics is the 1st letter and the last letter. Inflation is cooling… let’s hope so from a multi-decade high! The 9% didn’t go away… the recent 3% is added to the nearly 17%. Core prices are much higher than 20%… 

 

Let’s not forget the last recent Big Lie where they reported… I mean adjusted the jobs down by 811,000 jobs. The last time the Government lied this big, I mean adjusted down this drastically was 2009, when Joes old boss was the President. Seems they have problems with the truth…. 
 

Blue states are hemorrhaging ppl… Fleeing from high crime and high taxes. California has been losing 200,000 net ppl a year. Illinois and NY failing just as famously. It’s the not so secret secret…. 🤫 

[Roo Island]

58 minutes ago, maesariang said:

He makes stuff up. Inflation was low until Biden took over.

A very short term view. Must not understand economics very well.

[TedG]

1 minute ago, Irish star said:

Everyone blames Biden , Why we aren’t in control of Oz or UK or anywhere 

Excess demand caused US inflation, while energy prices caused European inflation. 

[Roo Island]

Just now, Mo Sawadee said:

The first thing to take note about Bidenomics is the 1st letter and the last letter. Inflation is cooling… let’s hope so from a multi-decade high! The 9% didn’t go away… the recent 3% is added to the nearly 17%. Core prices are much higher than 20%… 

 

Let’s not forget the last recent Big Lie where they reported… I mean adjusted the jobs down by 811,000 jobs. The last time the Government lied this big, I mean adjusted down this drastically was 2009, when Joes old boss was the President. Seems they have problems with the truth…. 
 

Blue states are hemorrhaging ppl… Fleeing from high crime and high taxes. California has been losing 200,000 net ppl a year. Illinois and NY failing just as famously. It’s the not so secret secret…. 🤫 

Turn off your news source. Please. Things are ok. Calm down

[Roo Island]

Just now, TedG said:

Excess demand caused US inflation, while energy prices caused European inflation. 

Absolutely incorrect

[TedG]

1 minute ago, Roo Island said:

A very short term view. Must not understand economics very well.

You have demonstrated zero understanding of economics.

[TedG]

Just now, Roo Island said:

Absolutely incorrect

Why?

[maesariang]

18 minutes ago, Irish star said:

Caused by Trump ineptness and Putin War the whole world is suffering, because of Biden lol

 

 

Why lie? Trump had low inflation. The non stop lies on here is pathetic and childish. Biden has had non stop high inflation caused by Joe.

Edited August 24 by maesariang

[Roo Island]

2 minutes ago, TedG said:

 

The OP made a fact-free claim.  

So you're an economist? Put up a link proving otherwise.