What Happened to Inflation? Bidenomics

[Roo Island]

Just now, TedG said:

Why?

Read the op

[maesariang]

1 minute ago, TedG said:

You have demonstrated zero understanding of economics.

He admitted lying about studying it.

[TedG]

1 minute ago, Roo Island said:

Read the op

The OP is dumber than you are. 

[maesariang]

On 8/23/2024 at 5:19 PM, 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:

 

 

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

High inflation for 3.6 years. Total disaster.

[TedG]

Just now, maesariang said:

He admitted lying about studying it.

 

I wonder if he has even has a GED. 

[Irish star]

2 minutes ago, 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.

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

[TedG]

3 minutes ago, Roo Island said:

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

Are you? 

[TedG]

Just now, Irish star said:

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

 

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.

[maesariang]

https://www.cnn.com/2024/05/21/economy/economic-wellbeing-2023-inflation/index.html

 

 

[TedG]

On 8/23/2024 at 4:01 AM, Roo Island said:

Did you read the article? He's a well respected economist.

LOL

 

https://www.nytimes.com/2005/08/08/opinion/that-hissing-sound.html

 

 

[Mo Sawadee]

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! 

[TedG]

9 minutes ago, Irish star said:

You can ignore first  pic 

You suck at the internet. 

[Roo Island]

27 minutes ago, maesariang said:

He admitted lying about studying it.

Never said that. Only you and another troll

[Roo Island]

27 minutes ago, TedG said:

The OP is dumber than you are. 

Ya gotta be kidding me?  One of the smartest economists there is.

[Roo Island]

27 minutes ago, 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.

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.

[Roo Island]

23 minutes ago, TedG said:

LOL

 

https://www.nytimes.com/2005/08/08/opinion/that-hissing-sound.html

 

 

2005? Ya gotta be kidding me.

[Roo Island]

22 minutes ago, 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! 

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

[Irish star]

15 minutes ago, TedG said:

You suck at the internet. 

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

[Irish star]

17 minutes ago, TedG said:

You suck at the internet. 

You suck at facts 

[TedG]

4 minutes ago, 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.

 

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

[Irish star]

26 minutes ago, 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! 

What lib watches CNN ffs 

[TedG]

1 minute ago, 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

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

[TedG]

6 minutes ago, Roo Island said:

2005? Ya gotta be kidding me.

He is the dude who said the housing bubble was not a big deal. 

[TedG]

5 minutes ago, Roo Island said:

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

The Federalist Papers are right-wing? 

[TedG]

11 minutes ago, Roo Island said:

Never said that. Only you and another troll

You are not an economist. 

[Roo Island]

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.

[Roo Island]

Just now, TedG said:

You are not an economist. 

I'm retired. Paul isn't. One reason I back up my comments with posts like this.

[TedG]

Just now, 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.

 

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

[Roo Island]

4 minutes ago, TedG said:

 

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

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

[TedG]

1 minute ago, Roo Island said:

I'm retired. Paul isn't. One reason I back up my comments with posts like this.

 

If you were an economist, you would objectively examine inflation.