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What Happened to Inflation? Bidenomics

Roo Island

By Roo Island
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Hanaguma
Hanaguma

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

Roo Island
Roo Island

The change over the past two years has been startling. Consumer price inflation, which peaked at 9 percent, is now under 3 percent. And the true inflation picture is arguably even better. U.S. inflati

Roo Island
Roo Island

From the article. @maesariang and you seem to be in this group.   Before I get there, let’s talk about two kinds of people who refuse to acknowledge this good news. First, there are in

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maesariang Platinum Member

maesariang

Posted
Posted
  On 8/23/2024 at 7:19 AM, Roo Island said:

The change over the past two years has been startling. Consumer price inflation, which peaked at 9 percent, is now under 3 percent. And the true inflation picture is arguably even better. U.S. inflation numbers place a large weight on a price nobody pays — the imputed rent on owner-occupied housing, which among other things lags far behind market rental rates. If we measure inflation the way other countries do, without that imputation, we’re all the way down to prepandemic inflation:

 

image.png.9667127a4de9ca18c4cb1e8a87af1226.png

 

Although the unemployment rate has drifted up a bit, it remains historically low — yet as I’ve been saying, inflation appears to have been beaten anyway. What went right?

The simplest, most plausible answer is that high inflation was mainly caused by disruptions related to Covid. The pandemic caused big changes in both how we spent our money and how we worked, and it took time for the economy to adjust.

 

https://www.nytimes.com/2024/08/20/opinion/inflation-biden-economy.html

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High inflation for 3.6 years. Total disaster.

Irish star Gold Member

Irish star

Posted
Posted
  On 8/24/2024 at 11:17 AM, maesariang said:

 

 

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.

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Who told you Joe is responsible, that weird news source you will not divulge 

  • Like 1
TedG Gold Member

TedG

Posted
Posted
  On 8/24/2024 at 11:20 AM, Irish star said:

Who told you Joe is responsible, that weird news source you will not divulge 

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Joe Biden is more responsible for high inflation than for abundant jobs

The main effect of the president’s economic policies has been to boost prices

 

https://www.economist.com/leaders/2023/05/11/joe-biden-is-more-responsible-for-high-inflation-than-for-abundant-jobs

 

Mr Biden’s stimulus did, however, put a rocket under inflation. In April “core” consumer prices, which exclude energy and food, were 13.4% higher than when he came to office. They have risen more than in other g7 countries, and their acceleration coincided with the introduction of Mr Biden’s stimulus. Research suggests that, even by September 2022, the largesse was pushing up core inflation by about four percentage points.

Mo Sawadee Rookie Member

Mo Sawadee

Posted
Posted

Of course the OP doesn’t understand that the facts don’t care about his feelings. Everything is fine? It’s the Kamala plan… roll out feelings! 
 

Genius… pure genius! 
 

Love what your Team did on the border… next stop, going to fix the Housing shortage, bail out more college debt and fix the SC. Perhaps you should educate yourself, recommend you start by reading the federalist papers… CNN has led you astray! 

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Roo Island Platinum Member

Roo Island

Posted
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Posted
  On 8/24/2024 at 11:21 AM, TedG said:

 

 

Joe Biden is more responsible for high inflation than for abundant jobs

The main effect of the president’s economic policies has been to boost prices

 

https://www.economist.com/leaders/2023/05/11/joe-biden-is-more-responsible-for-high-inflation-than-for-abundant-jobs

 

Mr Biden’s stimulus did, however, put a rocket under inflation. In April “core” consumer prices, which exclude energy and food, were 13.4% higher than when he came to office. They have risen more than in other g7 countries, and their acceleration coincided with the introduction of Mr Biden’s stimulus. Research suggests that, even by September 2022, the largesse was pushing up core inflation by about four percentage points.

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Paywall. But here's the first few lines. Not bad!

 

America’s roaring labour market beat expectations again in April. The unemployment rate is lower than in any year since 1969. The share of 15- to 64-year-olds in employment has surpassed its pre-pandemic peak, which was itself the highest seen since 2007. Mr Biden likes to tell people that his presidency, which began in the midst of a rapid recovery from covid lockdowns, has coincided with more monthly job creation, on average, than any other in history. Provided America avoids a debt-ceiling crisis, and the associated halt to federal spending and probable lay-offs, the booming labour market looks like a ticket to re-election in 2024.

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Roo Island Platinum Member

Roo Island

Posted
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Posted
  On 8/24/2024 at 11:29 AM, Mo Sawadee said:

Of course the OP doesn’t understand that the facts don’t care about his feelings. Everything is fine? It’s the Kamala plan… roll out feelings! 
 

Genius… pure genius! 
 

Love what your Team did on the border… next stop, going to fix the Housing shortage, bail out more college debt and fix the SC. Perhaps you should educate yourself, recommend you start by reading the federalist papers… CNN has led you astray! 

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Federalist papers. Come on. Too far right wing bs for me

  • Like 1
TedG Gold Member

TedG

Posted
Posted
  On 8/24/2024 at 11:50 AM, Roo Island said:

Paywall. But here's the first few lines. Not bad!

 

America’s roaring labour market beat expectations again in April. The unemployment rate is lower than in any year since 1969. The share of 15- to 64-year-olds in employment has surpassed its pre-pandemic peak, which was itself the highest seen since 2007. Mr Biden likes to tell people that his presidency, which began in the midst of a rapid recovery from covid lockdowns, has coincided with more monthly job creation, on average, than any other in history. Provided America avoids a debt-ceiling crisis, and the associated halt to federal spending and probable lay-offs, the booming labour market looks like a ticket to re-election in 2024.

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It's easy for jobs to return when the states end the shutdowns. 

Irish star Gold Member

Irish star

Posted
Posted
  On 8/24/2024 at 11:29 AM, Mo Sawadee said:

Of course the OP doesn’t understand that the facts don’t care about his feelings. Everything is fine? It’s the Kamala plan… roll out feelings! 
 

Genius… pure genius! 
 

Love what your Team did on the border… next stop, going to fix the Housing shortage, bail out more college debt and fix the SC. Perhaps you should educate yourself, recommend you start by reading the federalist papers… CNN has led you astray! 

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What lib watches CNN ffs 

TedG Gold Member

TedG

Posted
Posted
  On 8/24/2024 at 11:55 AM, Irish star said:

Dude are ya trying to get the comments count up

with one liners form a paragraph your lil quips are annoying and not too intelligent 5555

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You can't even handle resizing while posting screen captures from a phone.  

Roo Island Platinum Member

Roo Island

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Posted

https://en.m.wikipedia.org/wiki/Paul_Krugman

 

Paul Robin Krugman (/ˈkrʊɡmən/ ⓘ KRUUG-mən;[4][5] born February 28, 1953)[6] is an American economist who is the Distinguished Professor of Economics at the Graduate Center of the City University of New York and a columnist for The New York Times.[7] In 2008, Krugman was the sole winner of the Nobel Memorial Prize in Economic Sciences for his contributions to new trade theory and new economic geography.[8] The Prize Committee cited Krugman's work explaining the patterns of international trade and the geographic distribution of economic activity, by examining the effects of economies of scale and of consumer preferences for diverse goods and services.[9]

Education
   
    Yale University (BA)
    Massachusetts Institute of Technology (MA, PhD)
   City University of New York
    Princeton University
    London School of Economics
    Massachusetts Institute of Technology
    Yale University
 

Awards
  
    Nobel Memorial Prize in Economic Sciences (2008)

Krugman was previously a professor of economics at MIT, and, later, at Princeton University. He retired from Princeton in June 2015, and holds the title of professor emeritus there. He also holds the title of Centennial Professor at the London School of Economics.[10] Krugman was President of the Eastern Economic Association in 2010,[11] and is among the most influential economists in the world.[12] He is known in academia for his work on international economics (including trade theory and international finance),[13][14] economic geography, liquidity traps, and currency crises.

  • Like 1
TedG Gold Member

TedG

Posted
Posted
  On 8/24/2024 at 11:59 AM, Roo Island said:

https://en.m.wikipedia.org/wiki/Paul_Krugman

 

Paul Robin Krugman (/ˈkrʊɡmən/ ⓘ KRUUG-mən;[4][5] born February 28, 1953)[6] is an American economist who is the Distinguished Professor of Economics at the Graduate Center of the City University of New York and a columnist for The New York Times.[7] In 2008, Krugman was the sole winner of the Nobel Memorial Prize in Economic Sciences for his contributions to new trade theory and new economic geography.[8] The Prize Committee cited Krugman's work explaining the patterns of international trade and the geographic distribution of economic activity, by examining the effects of economies of scale and of consumer preferences for diverse goods and services.[9]

Education
   
    Yale University (BA)
    Massachusetts Institute of Technology (MA, PhD)
   City University of New York
    Princeton University
    London School of Economics
    Massachusetts Institute of Technology
    Yale University
 

Awards
  
    Nobel Memorial Prize in Economic Sciences (2008)

Krugman was previously a professor of economics at MIT, and, later, at Princeton University. He retired from Princeton in June 2015, and holds the title of professor emeritus there. He also holds the title of Centennial Professor at the London School of Economics.[10] Krugman was President of the Eastern Economic Association in 2010,[11] and is among the most influential economists in the world.[12] He is known in academia for his work on international economics (including trade theory and international finance),[13][14] economic geography, liquidity traps, and currency crises.

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Krugman is nothing but a left-wing pundit for the NY Times.   I still laughed at his hissing comment. 

Roo Island Platinum Member

Roo Island

Posted
  • Author
Posted
  On 8/24/2024 at 11:56 AM, TedG said:

 

It's easy for jobs to return when the states end the shutdowns. 

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A once in a lifetime pandemic. Shutdown was recommended by the medical community. And opposed by maga cult members

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