Bidenflation in Pictures (Page 1/8) Doug85GT JAN 21, 09:48 PM Guest starring Joe Biden as himself. Joe Biden 3 years ago Joe Biden Nowadays His meal went from $5.99 3 years ago to $7.69 today. That is a 28.3% increase. Bidenomics at work. rinselberg JAN 21, 09:57 PM Unless you look at what's happened over the same period with employment numbers and wages, and look at it in relation to other countries and the global economy, posts like that one are just "hot air." theBDub JAN 21, 10:41 PM Bidenomics must be why the U.S. fared so much better than other comparable nations. Doug85GT JAN 22, 11:43 AM quote Originally posted by rinselberg: Unless you look at what's happened over the same period with employment numbers and wages, and look at it in relation to other countries and the global economy, posts like that one are just "hot air." People are not smart enough to notice their grocery bills and just about everything else have significantly increased in price. You have to be an expert in global economics to notice it. This is just a "hot air" post to obfuscate what is in plain sight. BingB JAN 22, 11:53 AM Amazing how Joe Bidens policies effected the entire world? How was that possible? BTW which one of Bidens policies caused all this inflation anyway? 82-T/A [At Work] JAN 22, 12:18 PM quote Originally posted by BingB:Amazing how Joe Bidens policies effected the entire world? How was that possible? BTW which one of Bidens policies caused all this inflation anyway? Whenever the United States suffers a financial crisis... the world suffers a financial crisis. It's been like this since the confluence of the U.S. becoming the world reserve currency and the United States dropping the gold standard (which of course didn't happen at the same time). In this case though, the world dealt with COVID in the same way the United States did... which was to just keep printing money in order to survive the economic recession. I think the United States was in a better position from the start (due to an exceptionally strong economy from 2016-2019). BingB JAN 22, 02:19 PM quote Originally posted by 82-T/A [At Work]: In this case though, the world dealt with COVID in the same way the United States did... which was to just keep printing money in order to survive the economic recession. I think the United States was in a better position from the start (due to an exceptionally strong economy from 2016-2019). But our "strong economy" from '17-'19 was just the result of massive increases in deficit spending, or, as you call it, "printing money". So why do you want to put that guy back in office? BingB JAN 22, 02:22 PM quote Originally posted by 82-T/A [At Work]: Whenever the United States suffers a financial crisis... the world suffers a financial crisis. And whenever the world suffers a financial crisis the United States suffers a financial crisis. And the financial crisis in this instance had nothing to do with Biden policies. It was a worldwide pandemic that occurred before he took office. theBDub JAN 22, 03:35 PM Inflation, by definition, is a lagging indicator. If it was all Biden’s fault (it wasn’t), you’d see inflation charts showing the USA trending a couple months ahead of other comparable groups, but you don’t, because it was global inflation caused by lagging effects of the pandemic. When inflation exploded, the consensus was that there was extremely limited to no chance that we could have a “soft landing,” reducing inflation without causing a recession. But we did (so far). It wasn’t even Biden’s credit that we did achieve a soft landing. His primary credit is that he kept the Fed neutral and let them play proverbial Air Traffic Control without causing further panic. But to even attempt to put the blame on him is just ignorant, at best. 82-T/A [At Work] JAN 22, 03:45 PM quote Originally posted by theBDub: Inflation, by definition, is a lagging indicator. If it was all Biden’s fault (it wasn’t), you’d see inflation charts showing the USA trending a couple months ahead of other comparable groups, but you don’t, because it was global inflation caused by lagging effects of the pandemic. When inflation exploded, the consensus was that there was extremely limited to no chance that we could have a “soft landing,” reducing inflation without causing a recession. But we did (so far). It wasn’t even Biden’s credit that we did achieve a soft landing. His primary credit is that he kept the Fed neutral and let them play proverbial Air Traffic Control without causing further panic. But to even attempt to put the blame on him is just ignorant, at best. Biden enacted many policies that exacerbated this situation. Chief among those was his energy policy changes he made on day 1, which directly resulted in dramatically increased fuel costs. This automatically increased the cost of everything due to transportation costs. It eventually got bad enough that he tried to mitigate it by releasing oil from the strategic oil reserves. Of course, once he realized how catastrophic this was on the economy, he started approving a lot of oil leases... but that takes a solid year to spin up (which we're starting to see the benefit of right now). The Inflation Reduction Act was also anything but... and never should have been passed. It was basically a relabeled "Green New Deal" project (among other things). The biggest inflationary cost was the bill that Trump passed to "save America" during COVID... it was a 2+ something (maybe bigger) budget bill. Democrats can't celebrate for the bad news though, because it was created entirely by the Democrat House and Senate... and Trump was foolish enough to sign it into law. All of that money ends up trickling back up to the corporations though... which is exactly what happened.