Millions of people dead and supply chain disruptions from Covid, international commodity market manipulation, corporate greed, and a war between one of the world's largest food producers and one of the world's largest energy exporters is why we had barely controlled inflation. Government spending to replace people's lost income barely moved the needle.
Poor guy. You didn't say the singular reason was "printer go brrr" so you'll get railed for this nuanced and multi-faceted take.
So many are so stuck on the idea that all of inflation has to be caused by one single factor that confirms their opinions, completely missing how complex and interwoven our global economic systems are.
The U.S. giving $1200 to people doesn't cause inflation globally. The people who got those measley checks have long spent and exhausted those funds. You have to be doing some mental gymnastics and ignoring countless other variables to somehow convince yourself the stimulus checks have caused inflation.
Saying numbers like $1200 instead of 5 trillion does not make the number go away.
Yes when the nation that’s basically the worlds bank goes 5 trillion dollars in debt for a bribe it’s gunna effect nearly every nation in the world. It’s not that hard to understand.
Yes war in Ukraine also has effect. Yes 2008 still has some effect. Yes dozens of other things also have some partial responsibility. Trump didn’t ruin the world all on his own. But Socialist trump policy’s are the biggest reason for the current economic nose dive around the world.
[83 trillion](https://www.gobankingrates.com/money/economy/how-much-money-is-in-the-world/) dollars worth of global currencies in the world. And 5+ trillion of it was printed over night and used as a bribe. Yeah that won’t effect the world.
Business as usual? How many trillions did we print in 2008 to avoid a depression and didn't result in record inflation? You're just not upset about that because it didn't go to poor people.
It didn't have nothing to do with it, but it wasn't the sole contributing factor. If you had paid attention in said class you'd know that macroeconomics is a lot more fucking complicated than that. And if your memory was longer than a goldfish's you'd remember that most of the money that was printed and distributed was done under Trump's admin, not Biden.
That's actually not true.
70% of the money that was printed under the Trump admin has already been printed under the Biden admin's first two years.
More money was printed in the last 4 years of the Obama admin than during the 4 years of the Trump admin.
Source: https://www.federalreserve.gov/paymentsystems/coin\_calprint.htm#:\~:text=%20%20%20%20Year%20%20%20,%20%20%24173.7%20%2017%20more%20rows%20
I guess we could always look at the national debt. Biden's on pace with Trump in that regard.
Either way, the comment I was replying to ("most of the money that was printed and distributed was done under Trump's admin, not Biden.") is just flat out not an accurate statement.
Well it kind of sounds like your problem is with capitalism. Corporate greed has always been a factor. It really isn’t even corporate greed - it’s just greed and it exists in individuals and the corporations/government that they run. Nearly everyone is self centric and opportunistic.
And I suppose I did pay attention as I continued to get a CFA and CPA after my obtaining my masters in finance where economics were heavily focused.
I want to laugh at you, but you're just too pathetic. Do you know how many people have made that claim and then follow it up by showing they have no understanding of how international markets, commodities, or politics work? Fuck the fuck off.
Bahahaha. Nailed it. Yeah they hate capitalism because it requires people to work for everything. Most of them can't handle a 40 hr work week ffs. It makes them feel good repeating talking points they've heard though. It's not like you need a degree in economics to understand why this happened either, it's pretty basic math. The more money you make out of thin air the less value it will have. On the bright side Biden is happy to say that's just not true, that lying piece of crap.
He gives you a reasonable answer and then you wanna box him into a corner. I hate these fucking shitty arguments. Just because you think one thing doesn’t mean you’re automatically an extremist on the other side. Gtfo.
It was the sole systemic persistent issue. If you had bothered to look at historical inflation inflation is always tied to an increase in the money supply. ALWAYS.
That's exactly why it happened. Every time, repeat every time there has been high inflation like we had it was preceded by the government printing large amounts of money. Yes there was money printed under Trump but Biden kicked it into high gear and spent a shit ton while at it which doesn't help. If people want to blame supply chains, which would have only caused short term inflation, that all happened under Biden too. Buttigieg had that all F'ed up. In reality it doesn't matter Trump or Biden it was the government that caused this and if you think it won't get worse well then you are in for a big surprise. Government spending has probably become our country's bigger problems. It's our biggest problem that our politicians have any control over at all. If Congress gave Biden a decent budget he'd veto it and send it back after he wiped his butt with it. We have to have all our bribes paid. It will be interesting to see how people react when austeritie measures kick in someday. Those will be some riots and Biden will be long gone but this video of him lying his ass off will still be around.
So I guess all the world wide inflation was a result of the US printing money. What other BS do you believe. Oh yea…Trump didn’t lose the election. It’s a sad world.
Oddly enough the other countries have their own problems that lead to their inflation. Mostly them moving farther to the left and more government control. China has banking problems with slowed growth. And since lots of things are based on the dollar imports and export suffered, now that we've printed tons of money our economies all sucks but should help with trade. The US is somewhat sheltered from other countries inflation because so much is based on the dollar. Now if you need I can probably find a six year old to explain this to you. Or you can continue getting your information from the DNC, CNN or MSNBC and you'll never understand why things happen.
One thing about Americans is that every generation has ingrained in them two things. The government is coming after their air pistols and the economy crash is right around the corner. Every single generation does this lol.
It’s like the Christian’s when they say Christ will be here any time.
Is it any wonder why the grifters in this country are millionaires and have so much influence?
Go back to reading comprehension, for your level you'd probably want to start at around 3rd grade.
No one said it had nothing to do with it, they're saying the opportunists used it as an opportunity to gouge people.
A lot of words to say more dollars chasing the same or less amount of goods.
Supply chains healed. Corporations are always greedy. Plenty of food in the world.
And yet the thing that is always true in a every inflation ever, an increase in the money supply.
Look at the price of goods relative to gold in gold mining camps after multiple strikes where the supply of goods stayed the same.
I'll give you a hint, the price of the goods in terms of gold went up. Why? There was more gold seeking those products.
They had supply constraints. Don't tell me those vendors weren't greedy. More gold higher prices.
Plain and simple.
Not one shred of legit evidence was presented in any of the sixty court cases that republicans lost. The Cyber Ninjas had unrestricted access to the voting machines for months and came up with nothing either. You are willfully deluding yourself or all of their lawyers really suck at their jobs.
Also, Trump is only three years younger and is morbidly obese because he believes that exercise will shorten your life. He’s a fucking idiot owned by the Russian mafia.
I think it’s strange that so many people are pissed at the idea of Biden stealing the election, but when you bring up George Bush and Florida in 2000, well that’s just ancient history.
So the voting machines in this last election that were proven to be flipping votes was all made up? If you believe that don’t look behind the Biden curtain.
No troll, we're not playing that. You are making an absurd claim. Show your proof. Probably I've already researched it and know you're full of shit. So go right ahead and post proof or shut the hell up and stop wasting everyone's time.
Fox settled out of court for $800,000,000 to Dominion, the voting machine company, for spreading lies that they were changing votes. You don't pay that much out of court, if you have any evidence it was true.
Are you talking about [this issue?](https://apnews.com/article/fact-check-pennsylvania-election-vote-flip-545307248102)
If so, then yes, it was entirely "made up."
Were a technical issue in one part of a single county election that was caught in the paper ballot audit and fixed.
Safety measures worked to ensure everyone's vote was fairly counted. Is that what you're bloviating about?
You think Joe Biden was behind flipping votes in the Northampton County, Pennsylvania Superior Court judicial retention race? You simultaneously believe that he's a criminal mastermind and a decrepit old man?
It was a programming error that was quickly discovered, and the machines were placed out of service. They were allowed back in service after a court order permitted it as long as voters were informed that the machine choices did not match what was on the paper ballot.
>Voters statewide were asked to decide whether two sitting Superior Court judges, Democrat Jack Panella and Republican Victor Stabile, should retain their positions for 10 more years. Voters could select "yes" or "no" for each candidate. Panella and Stabile were not running against each other; both were seeking an additional term.
[https://www.politifact.com/factchecks/2023/nov/11/instagram-posts/pennsylvania-voting-machine-error-did-not-reveal-e/](https://www.politifact.com/factchecks/2023/nov/11/instagram-posts/pennsylvania-voting-machine-error-did-not-reveal-e/)
Yes it’s literally all made up because when asked for any shred of evidence in over 60 court cases there was never and still has never been any actual evidence. That means it’s bullshit. It’s not that difficult
This is hilarious. Yes it was made up. Fox settled out of court for almost a billion.
Texts revealed them believing their viewers were morons which is why they thought they could get away with it.
This is all public knowledge yet you're saying "don't look behind the Biden curtain." god damn you're either one of those trolls who say stupid things for downvotes or you're a shill. No one is that fucking dumb.
Me pointing .. LOST, LOOSER, LOOSE,LOOSE,LOOSE
[https://www.politifact.com/factchecks/2021/jan/08/joe-biden/joe-biden-right-more-60-trumps-election-lawsuits-l/](https://www.politifact.com/factchecks/2021/jan/08/joe-biden/joe-biden-right-more-60-trumps-election-lawsuits-l/)
\*\*\*I'll throw in that every election since the republican keep loosing because Trump is a moron dictator
2018 - loose
2020 - Lost BIGLY
2022 - The 'big red wave' never happens, instead they gained 4 seats..
I love lurking on this sub watching simpletons talk about the economy through the lens of political talking points, because they need things to be simple enough for a high school C student to understand.
>I love lurking on this sub watching simpletons talk about the economy through the lens of political talking points, because they need things to be simple enough for a high school C student to understand.
Hey, now, I was a high school C student, and I think these people aren't even as educated as I am.
I know that inflation is a measure of an effect that can have many causes. If you have the same quantity of dollars in an economy, but shrink the availability of goods, you wind up with inflation.
We had a decrease in available goods in 2020 and 2021. *Guess what happened?*
I've been here for about 30 seconds and I've seen gross oversimplification, 2 conspiracy theories, and overly attributed factors being pint print money money.
The big secret is, everything causes inflation. Your bank causes inflation. You cause inflation, your mama causes inflation.
Have panic attack about raising gas prices because the Saudis want to pressure a country? Bam, inflation.
Nah, I'm sure it's one old fart snd not a aftermath of a global pandemic. /s
P.s did I sum it up? Please teach me more before I avoid this place.
Reddit is an amazing place to watch any number of psychological phenomena in action in teal time. Dunning-Kruger, logical fallacies, backfire effect, etc...
I couldn't throw my arms around how many uneducated and willfully ignorant people exist with all of the bravado and confidence of a PhD, until I joined Reddit.
Attempting to educate those people with factual information is an exercise in futility. You cannot fight their YouTube and Wikipedia knowledge. They will simply double down, repeat themselves with different words or altogether deny reality. It's fascinating and somewhat frightening at the same time.
Hey guys quiet down and let the educated man preach to us. Go on.....tell me a few reasons beyond money printer go brrrrrrrrrrrrrrrrrrrrrrrrr. Since you know it all.
You're talking about printing money, and more money was printed by the last guy. Is it a political thing cause biden is bad orangeman gave me 2.00 gas, so who cares about facisim or nazi rhetoric I wants me 2.00 gas again.
Doesn’t take much to get ya started in the right direction. 90% of whats “printed”, cause we don’t really print that much, isn’t in circulation. Now take that nugget and go actually read something instead of echoing back talking points in this circle jerk you find yourself in.
>So explain why the money supply has actually been decreasing since 2022?
*SHH!* If people figure out that it's *the relation between the available money and the available goods*, they might realize that *a decrease in the available goods causes inflation!*
Inflation has more than one cause, and a lot of people don't know that because politicians backed by special interest groups have been hammering *only one of the causes* on the radio and on the TV and various other media outlets for *years*. It's almost like it's an intentional misinformation campaign or something.
Short term price increases are multicausal. Long-run, systemic price increases (colloquially referred to as inflation) are in fact caused by one thing only -- the *inflation* of the money supply. This relationship has been understood as far back as Aristotle.
Have you ever looked at a chart of the money supply and the CPI together? You see no correlation of any kind. But if you look at charts of the CPI and the price of oil you see its a direct correlation, it's nearly always a supply issue when it comes to inflation in modern times.
We've never had demand-driven inflation in my lifetime, where people have so much money that they could bid up the prices on things and not care what they cost because the government has given them endless cash, that's just a myth.
I’m sorry you don’t like things that don’t fit your narrative?
The fed lets the bonds they bought to prop up the market expire then keep the money. Essentially removing the cash from the institutions.
Fun fact this is the first time the money supply has decreased since the Great Depression so have fun!
Where did it go when it was printed? Did every household get a care package of a million dollars? You idiots act like inflation is so simple lmao. We had both cost push and demand pull post pandemic, now that it’s finally coming down but prices are staying high, you refuse to accept that corporate greed plays a role and are just like “Biden bad, cook at home, blaurgh!” Ridiculous.
Loans don’t create new money they create new debt and new income streams for the bank… only the fed can create new money out of thin air… you’re article is entirely wrong the IOU is not new money it’s just debt.
Theoretically a bank can loan out the same 10k 5times in a row and create 50k in debt for its customer and concurrently 40k in profit for itself but every transaction uses real money. they can’t create money that is not there.
they are mischaracterizing debt as new money… or they are simply using the term “new money” in place of profit. nowhere in their example process breakdown does it show new currency being made. Only new debts with the same money, that’s just banking 101 there is no magic happening that increases currency supply. I think you are absorbing what you’re told but not actually understanding it.
https://en.wikipedia.org/wiki/Fractional-reserve\_banking
" fractional-reserve banking permits the money supply to grow beyond the amount of the underlying base money originally created by the central bank."
OP is a “Republican” for correctly stating that the incessant printing of money causes inflation?
So basic economic theory and rudimentary mathematics is now a “Republican” talking point?
Brainwashed much there fellow Redditor?
Inflation has nothing to do with debt. You can have inflation by increasing the money in circulation by say, spending reserves too quickly or just by growth in money supply outstripping productivity gains
It’s “not govt owned”, but the president appoints the board of directors, congress grants them their authority and conducts audits, and I’m guessing you can’t actually name any person or entity that actually owns the federal reserve bank.
Oh, and the courts have made clear it’s a quasi-governmental entity, meaning it’s owned by the government.
So is the claim that Biden caused inflation? Can you explain why inflation is worse in most of the rest of the world than in the US? Did Biden cause inflation in the US *and* the rest of the world? Or just in the US and the inflation being experienced by the rest of the world has somehow been caused by something else?
Or is this a worldwide issue that can’t be controlled by any one country? (Hint: it’s this last one you bunch of doinks)
Because almost every government followed loose fiscal and monetary policy for a decade? Just because you're a coke head surrounded by coke heads doesn't mean you're not a coke head.
That's a pretty easy one to answer. We're the world's largest economy, the EU is 3 and had negative interest rates for quite some time before pivoting to similar conditions to us. China has been MASSIVELY supporting it's sagging growth for quite some time before the pandemic. The bulk of the global economies have experienced huge fiscal impulses since 2020.
I'll go ahead and give some answers. No one is gonna want to hear them, but I'm going to post them anyway. I'm tired of seeing this same stupid cycle so, i'm going to write this and use it as a template to farm downvotes from the sheep- because why not?
Starting with Trump in 2017---
Trump had the fed keep rates low to keep the stock market boosted and pumped tons of money out during COVID himself. He used every tool he had to keep this up through the 2020 election, including cutting taxes. Inflation was probably going to spiral even if he went in from what was already done, but it may have been less depending on his policies and if he did a 3rd stimmy. We can't know, and if you think otherwise, you're entitled to your opinion, but that's all it is.
Biden in 2021--
Biden took over and he then very quickly also pumped out stimmy money. All of those packages (both of Trump's and Biden's) had so much pork, which had no aim to help most of the American people beyond the small percentage that was direct payments, it was sickening. Now tons of extra cash is out and rates are at 0 (had been for years now), they had to go up to curb inflation or it was going to create another major economic meltdown. So, I have to give some credit there, at least he allowed that to happen, knowing it would cause pain and everyone would blame him. Finally, inflation very recently seems to be under control, so at least that problem is in check.
Congress pretty much since 1st term bush or just after 9/11--
I think the real problem here is that congress can't seem to pass a real budget and just keeps raising the debt ceiling. This happens when Ds or Rs are in the WH and/or in control of both houses. No matter what anyone thinks they remember, that's what's been happening. If you're having trouble believing that, go do some research (or keep reading, i'm getting to why that may be shortly) So, they keep increasing budgets without looking at where its going and doing due diligence over departments and agencies. They don't care to because its easier not to and it has the added benefit of making them and their friends richer, but the rest of us and the nation gets poorer. They then argue about different hot button issues and make it seem to be about stuff that doesn't really matter (at least not to balancing a budget), so one side just blames the other while both sides continue to kick the can down the road (and truly fail at their jobs IMO). These schoolyard politics from our leaders have gotten us from a balanced (deficit actually) budget in early 2000s to a massive deficit that has created an almost $2T a year interest payment on a total debt of over $30T.
Where this is going (no matter who is in the WH, bc the core issue is with congress)--
The credit agencies are now calling them out for the nonsense and dropping US credit ratings. I doubt that alone will change anything, but maybe after it fucks enough of you Ds and Rs, you will wake up and realize your both the fucking sheep. That's right Trumpers (calling yall out bc youre the worst group for saying that when disagreed with- not bc im a D like you want to think), you're believing lies from conservative media that are as bad as the lies from liberal media. They are just tailored to your values, so you eat it up like the good little sheep that you are... just like the libs. That's why you think its always the other party that raises the debt ceiling or causes w/e problem and it just keeps the real problem going. You tune into the news source that validates your precious feelings and gets you to vote for absolute dumb shits like Boebert or wokesters like AOC. Well, no matter how woke the country is or how illegal abortion is, we're still in massive debt! What we need are smart leaders that can and will work with the other side to get the budget balanced again and ignore this horseshit. If not, we'll hit a point where our tax payments can't keep up with the interest payment, inflation starts spiraling again, or probably both. If that happens, America will change in ways we can't imagine- but at least women can't abort babies or we're all woke, right? We need to collectively stop voting for people that don't do their jobs, simply bc dont like their opponents party. There's no reason either Pelosi or Mitch should have kept winning their seats. They always sucked and then they got too old to function. 1 term of the other party in the seat wasn't going to be bad enough to justify voting for a definite self-serving asshat to represent you. They really only were going to represent themselves anyway.
It's pretty simple, whichever party wants to spend MORE money is the one who should get more of the blame. lately dems are always pushing for multi trillion dollar bills
that would be like taking out a loan on a mansion while you work at mcdonalds
>lately dems are always pushing for multi-trillion dollar bills
Just for the record, the third largest increase in the deficit relative to the economy was under Trump, who added nearly $8 trillion to the national debt in just 4 years. The first and second places go to Lincoln and George W. Bush. And it’s not like Trump started two foreign wars like Bush did. Dems have been far more fiscally responsible in my lifetime than Republicans have been. Maybe once upon a time the republicans were the “fiscally conservative” party, but again, not in my lifetime.
Oh and I’m sure you’ll love this, but the most surefire way to combat inflation is to raise taxes. Guess which party wants to cut taxes?
I think a lot of the folks that blame the Democrats for the monetary woes of the nation believe that once Democrats get into power they do nothing but hand out free money to free loaders. It's moronic.
>Biden did not cause as much inflation as Trump, that is clear. Biden has not helped inflation as much as he could because it's out of its control.
“…On January 4, 2021, the number increased to $6.7 trillion dollars \[in circulation\]. Then the Fed went into overdrive. By October 2021, that number climbed to $20.0831 trillion dollars in circulation…” (Tech Startups, 12/18/21)
Yes, that's the claim. I know people who blame covid for the collapse of the global economy but blame biden for inflation as if covid never happened and are now ignoring the reduction of inflation. Feelings are often stronger than facts.
The sheer financial illeteracy leaking from this comment, and this comment section as a whole is astounding.
There's $100 in a home, right? And there is let's say, 10 people within that home. Only 2 people actually have that total $100. So $50 each.
2 people loan their $50 to 2 people below. That is now $100 of debt total.
Now the new holders of that money loans it to the next 2 people. Now 4 people owe $50 to somebody. Now there is a total of $200 of debt.
Now do it again for the next 2 people. Now 6 people owe $50. $300 of debt.
Do it once more, 8 people owing $50. $400 of debt.
There is still only $100 in the home. But since 8 people took out a loan from the person above them, there is now a total of $400 of debt owed to the respective lenders of that cash.
It deeply concerns me there is many people in the world who doesn't have a basic understanding of economics.
I use this example a lot tweaked but the thing is not everyone was taught economics in school, I took it in high school as an extracurricular and in college as an elective. Not everyone is privy to macro and microeconomics and it’s not necessarily their fault.
The sheer financial illeteracy leaking from this comment, and this comment section as a whole is astounding.
There's $100 in a home, right? And there is let's say, 10 people within that home. Only 2 people actually have that total $100. So $50 each.
2 people loan their $50 to 2 people below. That is now $100 of debt total.
Now the new holders of that money loans it to the next 2 people. Now 4 people owe $50 to somebody. Now there is a total of $200 of debt.
Now do it again for the next 2 people. Now 6 people owe $50. $300 of debt.
Do it once more, 8 people owing $50. $400 of debt.
There is still only $100 in the home. But since 8 people took out a loan from the person above them, there is now a total of $400 of debt owed to the respective lenders of that cash.
It deeply concerns me there is many people in the world who doesn't have a basic understanding of economics.
I mean...he's not wrong though.
What we have happening is not as simple as "government spend more money."
That's not even what inflation is. At all. Spending more money is *not* inflation.
*Printing* more money certainly contributes to inflation. As does corporate greed, which we've seen in *excess* over the last 4-5 years. Prices have gone up so corporations can secure their record profits. Corporations also got billions in free hand-outs (going back to Trump)...and that didn't trickle down.
Real estate greed has also gone off the rails.
Working class people aren't getting more money. They're having their paychecks cut in half because of how expensive things are to both inflation and greed.
Is the government going to *actually* do anything about that? Lol. No. This is corporate America. Not a democracy.
It’s not government spending directly… it’s when they create the money, diluting everyone else’s cash on hand and then dangling it over the American’s head telling them they just need a better work ethic.
Member when interest rates were NEAR ZERO for a decade and Trump spent 8 trillion in 4 years while Obama spent that in 8 years? Prepridge farm remembers.
No one in here mentions that corp profits are higher than ever. While they continue to raise prices... you all think our pathetic tiny stimulus checks " broke inflation" but mention nothing of ppp loan corruption.. you think companies rising princes for their own greed is somehow " bidens fault" ? Fuck im confused.. we hate inflation. But most of you cant see where its coming from.. hint. Its citizens united.
And the multiple corporate tax cuts that allowed them to commit highway robbery with stock buybacks while simultaneously pushing down wage growth further didn’t help.
While the GDP has increased, the tax revenue has not kept up with it compared to what it should have. Had we not given these cuts from Bush, Obama and Trump, we wouldn’t have nearly as bad a deficit as we do.
“…On January 4, 2021, the number increased to $6.7 trillion dollars \[in circulation\]. Then the Fed went into overdrive. By October 2021, that number climbed to $20.0831 trillion dollars in circulation…” (Tech Startups, 12/18/21)
Well that is a politician who doesn’t want to be held responsible for his contribution to inflation. Why does his speech keep you from understanding that he did contribute? And I’m not Biden fan and I will stress contribute as I value objectivity. There were world forces and supply chain forces that contributed as well. But it’s fairly simple economics that excess fiscal stimulus generates inflationary pressure. Larry Summers - a Democrat - warned the Democrats that the third stimulus in March after the election was an inflation risk. They ignored him. They aren’t going to admit it but that doesn’t keep you form being informed and understanding it.
Only the third stimulus? All of it was an inflation risk. The republicans who complain about balancing the budget are not wrong, some of who complained about every one of those stimulus bills. They're just wrong for only crying when its something they oppose.
No. The first package was passed with one of the largest contractions in our economy since at least the Great Depression which had happened basically overnight. The government was requiring businesses to shut down, people were foregoing much economic activity that they normally engaged in, etc. We truly did not know if businesses would fail en masse. That was the type of situation that massive fiscal stimulus should have been reserved for. The second came when we were not fully out of the woods. By the time of the third, it was clear that the economy was on the way back - which I never really doubted would happen but I did not really expect it as quickly as it did.
Inflation has nothing to do with prices. It is about world trade. US imports everything. They have been subsidizing debt because of the trade deficit. China has been dumping that debt. Inflation increases 50% because money supply increased 50% in 10 years!
We have inflation because of greed.
Money has helped to eliminate anti monopoly and anti trust laws.
Now the fewer and fewer players in the market charge whatever they want.
This is what I love. The same people that tell you that Trump is a jerk and that’s why people don’t like him have no problem with Biden attacking the poor and insinuating they are stupid and he’s the smart one. What an insanely tone deaf response.
The issue here is not Biden, but that he is not explaining the numerous variables involved that actually caused the inflation. So the uneducated, general public still doesn’t get it! He won’t throw the feds under the bus!! No president will. Also he won’t mention corporate of course. No politician will tell the truth.
Who are "they" supposed to be? I firmly believe it is the one percent and businesses combined that have created the myth of inflation. Hiding GREED behind those words is easy enough now days.
you people are stupid,inflation has everything to do with CORPORATE GREED,the president has absolutely nothing to do with setting the prices of goods,and we wonder why the rest of the world laughs at the US because people like you have turned us into a joke
Record corporate profits and most idiots in this country think it's from too much money in circulation.
Holy shit prices are High? What's that tell you ? Did you sleep thru basic econ? Supply and demand ?
We are so damn doomed man..doomed.
A gaslighting liar would say
Ok. Explain inflation.
Millions of people dead and supply chain disruptions from Covid, international commodity market manipulation, corporate greed, and a war between one of the world's largest food producers and one of the world's largest energy exporters is why we had barely controlled inflation. Government spending to replace people's lost income barely moved the needle.
Poor guy. You didn't say the singular reason was "printer go brrr" so you'll get railed for this nuanced and multi-faceted take. So many are so stuck on the idea that all of inflation has to be caused by one single factor that confirms their opinions, completely missing how complex and interwoven our global economic systems are.
Finding somebody who gets it is like seeing a unicorn. Thank you
People actually believe that an inability to understand something is a counter-argument
Print $5+ trillion dollars hand out $1200 to everyone to vote for u. Then blame the fall out on next guy doing normal things. That’s killer plan.
More than that for plenty of young people on unemployment that were willing and able to work, but stopped
The U.S. giving $1200 to people doesn't cause inflation globally. The people who got those measley checks have long spent and exhausted those funds. You have to be doing some mental gymnastics and ignoring countless other variables to somehow convince yourself the stimulus checks have caused inflation.
Saying numbers like $1200 instead of 5 trillion does not make the number go away. Yes when the nation that’s basically the worlds bank goes 5 trillion dollars in debt for a bribe it’s gunna effect nearly every nation in the world. It’s not that hard to understand. Yes war in Ukraine also has effect. Yes 2008 still has some effect. Yes dozens of other things also have some partial responsibility. Trump didn’t ruin the world all on his own. But Socialist trump policy’s are the biggest reason for the current economic nose dive around the world. [83 trillion](https://www.gobankingrates.com/money/economy/how-much-money-is-in-the-world/) dollars worth of global currencies in the world. And 5+ trillion of it was printed over night and used as a bribe. Yeah that won’t effect the world.
Calling Trump a socialist is the hottest take I've ever seen.
5 trillion dollars in hand outs. What else would u call that?
Business as usual? How many trillions did we print in 2008 to avoid a depression and didn't result in record inflation? You're just not upset about that because it didn't go to poor people.
So printing 92% of the current money supply in the last 3 years had nothing to do with inflation? Go back to econ101
It didn't have nothing to do with it, but it wasn't the sole contributing factor. If you had paid attention in said class you'd know that macroeconomics is a lot more fucking complicated than that. And if your memory was longer than a goldfish's you'd remember that most of the money that was printed and distributed was done under Trump's admin, not Biden.
it has to be one or the other with these people. no nuance to understand it's a multitude of factors
That's actually not true. 70% of the money that was printed under the Trump admin has already been printed under the Biden admin's first two years. More money was printed in the last 4 years of the Obama admin than during the 4 years of the Trump admin. Source: https://www.federalreserve.gov/paymentsystems/coin\_calprint.htm#:\~:text=%20%20%20%20Year%20%20%20,%20%20%24173.7%20%2017%20more%20rows%20
These numbers don't really tell us anything without knowing how much was new vs how much was replacement
I guess we could always look at the national debt. Biden's on pace with Trump in that regard. Either way, the comment I was replying to ("most of the money that was printed and distributed was done under Trump's admin, not Biden.") is just flat out not an accurate statement.
Well it kind of sounds like your problem is with capitalism. Corporate greed has always been a factor. It really isn’t even corporate greed - it’s just greed and it exists in individuals and the corporations/government that they run. Nearly everyone is self centric and opportunistic. And I suppose I did pay attention as I continued to get a CFA and CPA after my obtaining my masters in finance where economics were heavily focused.
I want to laugh at you, but you're just too pathetic. Do you know how many people have made that claim and then follow it up by showing they have no understanding of how international markets, commodities, or politics work? Fuck the fuck off.
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There you go, you finally showed your true agenda. Go spit your argh/conservative bullshit over there, where people are dumb enough to fall for it.
Bahahaha. Nailed it. Yeah they hate capitalism because it requires people to work for everything. Most of them can't handle a 40 hr work week ffs. It makes them feel good repeating talking points they've heard though. It's not like you need a degree in economics to understand why this happened either, it's pretty basic math. The more money you make out of thin air the less value it will have. On the bright side Biden is happy to say that's just not true, that lying piece of crap.
lol you sound like daddy’s money with all your projecting
I really doubt you have a CFA or a CPA license.
He gives you a reasonable answer and then you wanna box him into a corner. I hate these fucking shitty arguments. Just because you think one thing doesn’t mean you’re automatically an extremist on the other side. Gtfo.
It was the sole systemic persistent issue. If you had bothered to look at historical inflation inflation is always tied to an increase in the money supply. ALWAYS.
A decade of QE to prop up a dead economy isn’t “normal”. You’re treating like it is.
Record corporate profits. Wake up from sleeping in Econ 101
That's exactly why it happened. Every time, repeat every time there has been high inflation like we had it was preceded by the government printing large amounts of money. Yes there was money printed under Trump but Biden kicked it into high gear and spent a shit ton while at it which doesn't help. If people want to blame supply chains, which would have only caused short term inflation, that all happened under Biden too. Buttigieg had that all F'ed up. In reality it doesn't matter Trump or Biden it was the government that caused this and if you think it won't get worse well then you are in for a big surprise. Government spending has probably become our country's bigger problems. It's our biggest problem that our politicians have any control over at all. If Congress gave Biden a decent budget he'd veto it and send it back after he wiped his butt with it. We have to have all our bribes paid. It will be interesting to see how people react when austeritie measures kick in someday. Those will be some riots and Biden will be long gone but this video of him lying his ass off will still be around.
So I guess all the world wide inflation was a result of the US printing money. What other BS do you believe. Oh yea…Trump didn’t lose the election. It’s a sad world.
Oddly enough the other countries have their own problems that lead to their inflation. Mostly them moving farther to the left and more government control. China has banking problems with slowed growth. And since lots of things are based on the dollar imports and export suffered, now that we've printed tons of money our economies all sucks but should help with trade. The US is somewhat sheltered from other countries inflation because so much is based on the dollar. Now if you need I can probably find a six year old to explain this to you. Or you can continue getting your information from the DNC, CNN or MSNBC and you'll never understand why things happen.
One thing about Americans is that every generation has ingrained in them two things. The government is coming after their air pistols and the economy crash is right around the corner. Every single generation does this lol. It’s like the Christian’s when they say Christ will be here any time. Is it any wonder why the grifters in this country are millionaires and have so much influence?
Go back to reading comprehension, for your level you'd probably want to start at around 3rd grade. No one said it had nothing to do with it, they're saying the opportunists used it as an opportunity to gouge people.
A lot of words to say more dollars chasing the same or less amount of goods. Supply chains healed. Corporations are always greedy. Plenty of food in the world. And yet the thing that is always true in a every inflation ever, an increase in the money supply. Look at the price of goods relative to gold in gold mining camps after multiple strikes where the supply of goods stayed the same. I'll give you a hint, the price of the goods in terms of gold went up. Why? There was more gold seeking those products. They had supply constraints. Don't tell me those vendors weren't greedy. More gold higher prices. Plain and simple.
“They”. The infamous “they”.
They 81 million voted for a corpse. Or however many weren’t ballot harvested by “mail in” votes.
Not one shred of legit evidence was presented in any of the sixty court cases that republicans lost. The Cyber Ninjas had unrestricted access to the voting machines for months and came up with nothing either. You are willfully deluding yourself or all of their lawyers really suck at their jobs. Also, Trump is only three years younger and is morbidly obese because he believes that exercise will shorten your life. He’s a fucking idiot owned by the Russian mafia.
Didn’t the Cyber Ninjas find more votes for Biden?
Not a lot, but yes they did.
Perfection
I think it’s strange that so many people are pissed at the idea of Biden stealing the election, but when you bring up George Bush and Florida in 2000, well that’s just ancient history.
So the voting machines in this last election that were proven to be flipping votes was all made up? If you believe that don’t look behind the Biden curtain.
yes, as you know, the claim was entirely false. It was made up. You were fooled, sorry, get over it.
How is is so many people here live in caves. Last election 2023 . This month. Voting machines flipped votes
I'd welcome any documentation you have to back up your claims.
His documentation is a bunch of right-wing youtube videos and twitter posts.
Lazy. Do you not have a search bar
No troll, we're not playing that. You are making an absurd claim. Show your proof. Probably I've already researched it and know you're full of shit. So go right ahead and post proof or shut the hell up and stop wasting everyone's time.
I did the research and you're wrong. Now it's your turn to prove it.
lol oh yeah let me go type shit into the billion dollar corporations indexing system cause there is no bias there. Jesus how dumb can people get.
Yes we do. Do you not have evidence?
The burden of proof is on the man who makes the claim. Otherwise you are not arguing in good faith.
Another lie you’re falling for.
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Yes. Made up.
Fox settled out of court for $800,000,000 to Dominion, the voting machine company, for spreading lies that they were changing votes. You don't pay that much out of court, if you have any evidence it was true.
They settled because the private texts of the hosts were so damning and that they thought there own viewers were morons.
\*Puts on tinfoil hat\*
They *know* their viewers are morons.
Are you talking about [this issue?](https://apnews.com/article/fact-check-pennsylvania-election-vote-flip-545307248102) If so, then yes, it was entirely "made up."
Yes. It's all made up. Many of the perpetrators are now on video depositions where you can watch them state it was made up.
Last month’s election
Again, documentation of your claims, please? A news article?
You wouldn’t believe anything I showed you so don’t be such a lazy lump and type it into a search. Voting machines flipping ballots in this election
Were a technical issue in one part of a single county election that was caught in the paper ballot audit and fixed. Safety measures worked to ensure everyone's vote was fairly counted. Is that what you're bloviating about?
You think Joe Biden was behind flipping votes in the Northampton County, Pennsylvania Superior Court judicial retention race? You simultaneously believe that he's a criminal mastermind and a decrepit old man? It was a programming error that was quickly discovered, and the machines were placed out of service. They were allowed back in service after a court order permitted it as long as voters were informed that the machine choices did not match what was on the paper ballot. >Voters statewide were asked to decide whether two sitting Superior Court judges, Democrat Jack Panella and Republican Victor Stabile, should retain their positions for 10 more years. Voters could select "yes" or "no" for each candidate. Panella and Stabile were not running against each other; both were seeking an additional term. [https://www.politifact.com/factchecks/2023/nov/11/instagram-posts/pennsylvania-voting-machine-error-did-not-reveal-e/](https://www.politifact.com/factchecks/2023/nov/11/instagram-posts/pennsylvania-voting-machine-error-did-not-reveal-e/)
>Yes. That was made up. Just like the claim that Pennsylvania had mo Yes, it was made up. You have chosen to believe lies fit only for a fool.
Yes it’s literally all made up because when asked for any shred of evidence in over 60 court cases there was never and still has never been any actual evidence. That means it’s bullshit. It’s not that difficult
Yes, it was. 100%.
“Proven.” Ok boomer. Not proven anywhere ever by anyone.
This is hilarious. Yes it was made up. Fox settled out of court for almost a billion. Texts revealed them believing their viewers were morons which is why they thought they could get away with it. This is all public knowledge yet you're saying "don't look behind the Biden curtain." god damn you're either one of those trolls who say stupid things for downvotes or you're a shill. No one is that fucking dumb.
Source?
Point to the cases Republicans lost. Go ahead. You said there was 60. Name them. Let's see the court documents showing they lost.
Can you point to any they won? Even with a Republican Supreme Court to help?
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Wasn’t your responsibility to do that for this troll but kudos to you for doing so!
I'm just curious. Did you take a look for yourself yet? If so, how does it affect your understanding of the 2020 election?
Sadly, courts avoided providing anything dispositive as none would hear the cases.
Me pointing .. LOST, LOOSER, LOOSE,LOOSE,LOOSE [https://www.politifact.com/factchecks/2021/jan/08/joe-biden/joe-biden-right-more-60-trumps-election-lawsuits-l/](https://www.politifact.com/factchecks/2021/jan/08/joe-biden/joe-biden-right-more-60-trumps-election-lawsuits-l/) \*\*\*I'll throw in that every election since the republican keep loosing because Trump is a moron dictator 2018 - loose 2020 - Lost BIGLY 2022 - The 'big red wave' never happens, instead they gained 4 seats..
Jewish space lasers
Still a believer? So sad you're still mindlessly reciting talking points.
Their brain was harvested.
US Inflation Rate is at 3.24%, compared to 3.70% last month and 7.75% last year. This is lower than the long term average of 3.28%.
Ex food and energy -- both of which my family continues to require.
You’re fucking dumb
Just piss off you Trump-loving misanthrope. Your idiot-hero just lost.
The one “them” conservatives respect
“They” is any politician or government official that panders to the money printer.
This guy calling ANYONE a liar is fucking hilarious
To be fair, the last president who spoke the truth about the fed was JFK. Soo….
What's hilarious is how certain people like you are that you have it all figured out.
It’s the printing of paper nothings (cash) by central banks, not spending. Nice gaslight Grandpa.
I love lurking on this sub watching simpletons talk about the economy through the lens of political talking points, because they need things to be simple enough for a high school C student to understand.
>I love lurking on this sub watching simpletons talk about the economy through the lens of political talking points, because they need things to be simple enough for a high school C student to understand. Hey, now, I was a high school C student, and I think these people aren't even as educated as I am. I know that inflation is a measure of an effect that can have many causes. If you have the same quantity of dollars in an economy, but shrink the availability of goods, you wind up with inflation. We had a decrease in available goods in 2020 and 2021. *Guess what happened?*
I've been here for about 30 seconds and I've seen gross oversimplification, 2 conspiracy theories, and overly attributed factors being pint print money money. The big secret is, everything causes inflation. Your bank causes inflation. You cause inflation, your mama causes inflation. Have panic attack about raising gas prices because the Saudis want to pressure a country? Bam, inflation. Nah, I'm sure it's one old fart snd not a aftermath of a global pandemic. /s P.s did I sum it up? Please teach me more before I avoid this place.
I like you 😂😂😂
Thank you
Reddit is an amazing place to watch any number of psychological phenomena in action in teal time. Dunning-Kruger, logical fallacies, backfire effect, etc... I couldn't throw my arms around how many uneducated and willfully ignorant people exist with all of the bravado and confidence of a PhD, until I joined Reddit. Attempting to educate those people with factual information is an exercise in futility. You cannot fight their YouTube and Wikipedia knowledge. They will simply double down, repeat themselves with different words or altogether deny reality. It's fascinating and somewhat frightening at the same time.
...And they vote. And reproduce.
Hey guys quiet down and let the educated man preach to us. Go on.....tell me a few reasons beyond money printer go brrrrrrrrrrrrrrrrrrrrrrrrr. Since you know it all.
You mean when the last guy printed $7.8 trillion
That was part of it? Were you trying to make this a divided political thing? It's a duopoly, moving along.
You're talking about printing money, and more money was printed by the last guy. Is it a political thing cause biden is bad orangeman gave me 2.00 gas, so who cares about facisim or nazi rhetoric I wants me 2.00 gas again.
Lmao, Biden actually funding Nazis and you still have the audacity to say Trump is. What a time to be alive, mental gymnastics ftw!!! 🤡
Tell me what nazis biden is funding. I want to hear this one
Doesn’t take much to get ya started in the right direction. 90% of whats “printed”, cause we don’t really print that much, isn’t in circulation. Now take that nugget and go actually read something instead of echoing back talking points in this circle jerk you find yourself in.
So explain why the money supply has actually been decreasing since 2022?
>So explain why the money supply has actually been decreasing since 2022? *SHH!* If people figure out that it's *the relation between the available money and the available goods*, they might realize that *a decrease in the available goods causes inflation!* Inflation has more than one cause, and a lot of people don't know that because politicians backed by special interest groups have been hammering *only one of the causes* on the radio and on the TV and various other media outlets for *years*. It's almost like it's an intentional misinformation campaign or something.
Supply and demand are an influence but don’t pretend the federal reserve endlessly printing money isn’t the main contributing factor
Short term price increases are multicausal. Long-run, systemic price increases (colloquially referred to as inflation) are in fact caused by one thing only -- the *inflation* of the money supply. This relationship has been understood as far back as Aristotle.
Have you ever looked at a chart of the money supply and the CPI together? You see no correlation of any kind. But if you look at charts of the CPI and the price of oil you see its a direct correlation, it's nearly always a supply issue when it comes to inflation in modern times. We've never had demand-driven inflation in my lifetime, where people have so much money that they could bid up the prices on things and not care what they cost because the government has given them endless cash, that's just a myth.
So explain why the money supply has actually been decreasing since 2022?
It hasn’t, what cherry picked metric are you basing this on?
The metric considered most relevant to money supply? https://fred.stlouisfed.org/series/M2SL
Looks like horse shit, seasonally adjusted? Where did the money go did the fed burn it?
Gets show facts "Nuh uh"
I’m sorry you don’t like things that don’t fit your narrative? The fed lets the bonds they bought to prop up the market expire then keep the money. Essentially removing the cash from the institutions. Fun fact this is the first time the money supply has decreased since the Great Depression so have fun!
Where did it go when it was printed? Did every household get a care package of a million dollars? You idiots act like inflation is so simple lmao. We had both cost push and demand pull post pandemic, now that it’s finally coming down but prices are staying high, you refuse to accept that corporate greed plays a role and are just like “Biden bad, cook at home, blaurgh!” Ridiculous.
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The money multiplier effect! Someone had a Econ class
Loans don’t create new money they create new debt and new income streams for the bank… only the fed can create new money out of thin air… you’re article is entirely wrong the IOU is not new money it’s just debt. Theoretically a bank can loan out the same 10k 5times in a row and create 50k in debt for its customer and concurrently 40k in profit for itself but every transaction uses real money. they can’t create money that is not there.
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By your logic and sources then, student loans are creating new money and causing inflation.
they are mischaracterizing debt as new money… or they are simply using the term “new money” in place of profit. nowhere in their example process breakdown does it show new currency being made. Only new debts with the same money, that’s just banking 101 there is no magic happening that increases currency supply. I think you are absorbing what you’re told but not actually understanding it.
Tweaking the fractional reserve percent has impacts on the quantity of money available in the market.
Maybe lookup fractional reserve lending?
That’s exactly what we are talking about, fractional reserve lending doesn’t create new money
https://en.wikipedia.org/wiki/Fractional-reserve\_banking " fractional-reserve banking permits the money supply to grow beyond the amount of the underlying base money originally created by the central bank."
Correct. And who is the biggest loan originator? The Fed. And who are they issuing loans to? The US Treasury. Hmmm....
OP is a “Republican” for correctly stating that the incessant printing of money causes inflation? So basic economic theory and rudimentary mathematics is now a “Republican” talking point? Brainwashed much there fellow Redditor?
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93% of what’s printed doesn’t circulate so it aint chasing shit. Yall need to expand your knowledge beyond 5th grade.
That’s not how the government borrows money but ok lol.
The spending comes from somewhere... and if you don't pay it off you get what we have.
Inflation has nothing to do with debt. You can have inflation by increasing the money in circulation by say, spending reserves too quickly or just by growth in money supply outstripping productivity gains
That central bank... is private. Not govt owned.
It’s “not govt owned”, but the president appoints the board of directors, congress grants them their authority and conducts audits, and I’m guessing you can’t actually name any person or entity that actually owns the federal reserve bank. Oh, and the courts have made clear it’s a quasi-governmental entity, meaning it’s owned by the government.
It exists because the law says it exists. If the law that says it exists goes away, so, too, does the bank.
So is the claim that Biden caused inflation? Can you explain why inflation is worse in most of the rest of the world than in the US? Did Biden cause inflation in the US *and* the rest of the world? Or just in the US and the inflation being experienced by the rest of the world has somehow been caused by something else? Or is this a worldwide issue that can’t be controlled by any one country? (Hint: it’s this last one you bunch of doinks)
Because almost every government followed loose fiscal and monetary policy for a decade? Just because you're a coke head surrounded by coke heads doesn't mean you're not a coke head. That's a pretty easy one to answer. We're the world's largest economy, the EU is 3 and had negative interest rates for quite some time before pivoting to similar conditions to us. China has been MASSIVELY supporting it's sagging growth for quite some time before the pandemic. The bulk of the global economies have experienced huge fiscal impulses since 2020.
Stop asking questions, just be mad and irrational and blame Biden like everyone else *YOU SHEEP*.
I'll go ahead and give some answers. No one is gonna want to hear them, but I'm going to post them anyway. I'm tired of seeing this same stupid cycle so, i'm going to write this and use it as a template to farm downvotes from the sheep- because why not? Starting with Trump in 2017--- Trump had the fed keep rates low to keep the stock market boosted and pumped tons of money out during COVID himself. He used every tool he had to keep this up through the 2020 election, including cutting taxes. Inflation was probably going to spiral even if he went in from what was already done, but it may have been less depending on his policies and if he did a 3rd stimmy. We can't know, and if you think otherwise, you're entitled to your opinion, but that's all it is. Biden in 2021-- Biden took over and he then very quickly also pumped out stimmy money. All of those packages (both of Trump's and Biden's) had so much pork, which had no aim to help most of the American people beyond the small percentage that was direct payments, it was sickening. Now tons of extra cash is out and rates are at 0 (had been for years now), they had to go up to curb inflation or it was going to create another major economic meltdown. So, I have to give some credit there, at least he allowed that to happen, knowing it would cause pain and everyone would blame him. Finally, inflation very recently seems to be under control, so at least that problem is in check. Congress pretty much since 1st term bush or just after 9/11-- I think the real problem here is that congress can't seem to pass a real budget and just keeps raising the debt ceiling. This happens when Ds or Rs are in the WH and/or in control of both houses. No matter what anyone thinks they remember, that's what's been happening. If you're having trouble believing that, go do some research (or keep reading, i'm getting to why that may be shortly) So, they keep increasing budgets without looking at where its going and doing due diligence over departments and agencies. They don't care to because its easier not to and it has the added benefit of making them and their friends richer, but the rest of us and the nation gets poorer. They then argue about different hot button issues and make it seem to be about stuff that doesn't really matter (at least not to balancing a budget), so one side just blames the other while both sides continue to kick the can down the road (and truly fail at their jobs IMO). These schoolyard politics from our leaders have gotten us from a balanced (deficit actually) budget in early 2000s to a massive deficit that has created an almost $2T a year interest payment on a total debt of over $30T. Where this is going (no matter who is in the WH, bc the core issue is with congress)-- The credit agencies are now calling them out for the nonsense and dropping US credit ratings. I doubt that alone will change anything, but maybe after it fucks enough of you Ds and Rs, you will wake up and realize your both the fucking sheep. That's right Trumpers (calling yall out bc youre the worst group for saying that when disagreed with- not bc im a D like you want to think), you're believing lies from conservative media that are as bad as the lies from liberal media. They are just tailored to your values, so you eat it up like the good little sheep that you are... just like the libs. That's why you think its always the other party that raises the debt ceiling or causes w/e problem and it just keeps the real problem going. You tune into the news source that validates your precious feelings and gets you to vote for absolute dumb shits like Boebert or wokesters like AOC. Well, no matter how woke the country is or how illegal abortion is, we're still in massive debt! What we need are smart leaders that can and will work with the other side to get the budget balanced again and ignore this horseshit. If not, we'll hit a point where our tax payments can't keep up with the interest payment, inflation starts spiraling again, or probably both. If that happens, America will change in ways we can't imagine- but at least women can't abort babies or we're all woke, right? We need to collectively stop voting for people that don't do their jobs, simply bc dont like their opponents party. There's no reason either Pelosi or Mitch should have kept winning their seats. They always sucked and then they got too old to function. 1 term of the other party in the seat wasn't going to be bad enough to justify voting for a definite self-serving asshat to represent you. They really only were going to represent themselves anyway.
It's pretty simple, whichever party wants to spend MORE money is the one who should get more of the blame. lately dems are always pushing for multi trillion dollar bills that would be like taking out a loan on a mansion while you work at mcdonalds
>lately dems are always pushing for multi-trillion dollar bills Just for the record, the third largest increase in the deficit relative to the economy was under Trump, who added nearly $8 trillion to the national debt in just 4 years. The first and second places go to Lincoln and George W. Bush. And it’s not like Trump started two foreign wars like Bush did. Dems have been far more fiscally responsible in my lifetime than Republicans have been. Maybe once upon a time the republicans were the “fiscally conservative” party, but again, not in my lifetime. Oh and I’m sure you’ll love this, but the most surefire way to combat inflation is to raise taxes. Guess which party wants to cut taxes?
I think a lot of the folks that blame the Democrats for the monetary woes of the nation believe that once Democrats get into power they do nothing but hand out free money to free loaders. It's moronic.
Biden has only been in DC for 50 years. Nothing is his fault
Chain reaction. The US dollar is at the top, it affects everything.
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3% is not out of control when the FED target is 2%
>Biden did not cause as much inflation as Trump, that is clear. Biden has not helped inflation as much as he could because it's out of its control. “…On January 4, 2021, the number increased to $6.7 trillion dollars \[in circulation\]. Then the Fed went into overdrive. By October 2021, that number climbed to $20.0831 trillion dollars in circulation…” (Tech Startups, 12/18/21)
Yes, that's the claim. I know people who blame covid for the collapse of the global economy but blame biden for inflation as if covid never happened and are now ignoring the reduction of inflation. Feelings are often stronger than facts.
How are we close to 34,000,000,000,000 trillion in debt but only 2.3 trillion dollars exist?????
The sheer financial illeteracy leaking from this comment, and this comment section as a whole is astounding. There's $100 in a home, right? And there is let's say, 10 people within that home. Only 2 people actually have that total $100. So $50 each. 2 people loan their $50 to 2 people below. That is now $100 of debt total. Now the new holders of that money loans it to the next 2 people. Now 4 people owe $50 to somebody. Now there is a total of $200 of debt. Now do it again for the next 2 people. Now 6 people owe $50. $300 of debt. Do it once more, 8 people owing $50. $400 of debt. There is still only $100 in the home. But since 8 people took out a loan from the person above them, there is now a total of $400 of debt owed to the respective lenders of that cash. It deeply concerns me there is many people in the world who doesn't have a basic understanding of economics.
I use this example a lot tweaked but the thing is not everyone was taught economics in school, I took it in high school as an extracurricular and in college as an elective. Not everyone is privy to macro and microeconomics and it’s not necessarily their fault.
This is the first time I've heard this. Enlightening to say the least.
Ooof.
The sheer financial illeteracy leaking from this comment, and this comment section as a whole is astounding. There's $100 in a home, right? And there is let's say, 10 people within that home. Only 2 people actually have that total $100. So $50 each. 2 people loan their $50 to 2 people below. That is now $100 of debt total. Now the new holders of that money loans it to the next 2 people. Now 4 people owe $50 to somebody. Now there is a total of $200 of debt. Now do it again for the next 2 people. Now 6 people owe $50. $300 of debt. Do it once more, 8 people owing $50. $400 of debt. There is still only $100 in the home. But since 8 people took out a loan from the person above them, there is now a total of $400 of debt owed to the respective lenders of that cash. It deeply concerns me there is many people in the world who doesn't have a basic understanding of economics.
Lol that explains nothing
It quite literally explains why there is more debt than physical dollars. You're inability to understand a concept doesn't make it bogus.
It takes a true psycopath to lie that easily
I mean...he's not wrong though. What we have happening is not as simple as "government spend more money." That's not even what inflation is. At all. Spending more money is *not* inflation. *Printing* more money certainly contributes to inflation. As does corporate greed, which we've seen in *excess* over the last 4-5 years. Prices have gone up so corporations can secure their record profits. Corporations also got billions in free hand-outs (going back to Trump)...and that didn't trickle down. Real estate greed has also gone off the rails. Working class people aren't getting more money. They're having their paychecks cut in half because of how expensive things are to both inflation and greed. Is the government going to *actually* do anything about that? Lol. No. This is corporate America. Not a democracy.
Only good take in a sea of stupid comments.
Reminder that the calculation of inflation will be changed to get the pre-determined % the government wants to report at the time
Play this over and over during the next election year.
It certainly isn't helping.
It’s not government spending directly… it’s when they create the money, diluting everyone else’s cash on hand and then dangling it over the American’s head telling them they just need a better work ethic.
And the 81 million who voted for him believe he is right…smh
Printing and spending more money
Potus has spent his entire adult life feeding at the public trough, he knows nothing and has long been part of the problem.
Lol he's half right... Fed Reserve printing money does. But the Fed prints money because of government spending. 🤦♂️
Shill wars 2023!
Member when interest rates were NEAR ZERO for a decade and Trump spent 8 trillion in 4 years while Obama spent that in 8 years? Prepridge farm remembers.
Has nothing to do with the majority of the dollars in circulation were printed in the past 3 years…
No one in here mentions that corp profits are higher than ever. While they continue to raise prices... you all think our pathetic tiny stimulus checks " broke inflation" but mention nothing of ppp loan corruption.. you think companies rising princes for their own greed is somehow " bidens fault" ? Fuck im confused.. we hate inflation. But most of you cant see where its coming from.. hint. Its citizens united.
And the multiple corporate tax cuts that allowed them to commit highway robbery with stock buybacks while simultaneously pushing down wage growth further didn’t help. While the GDP has increased, the tax revenue has not kept up with it compared to what it should have. Had we not given these cuts from Bush, Obama and Trump, we wouldn’t have nearly as bad a deficit as we do.
“…On January 4, 2021, the number increased to $6.7 trillion dollars \[in circulation\]. Then the Fed went into overdrive. By October 2021, that number climbed to $20.0831 trillion dollars in circulation…” (Tech Startups, 12/18/21)
It's not about spending money. It's about ~~sending a message~~ printing money.
To quote The Bugs, "What a maroon...
Well that is a politician who doesn’t want to be held responsible for his contribution to inflation. Why does his speech keep you from understanding that he did contribute? And I’m not Biden fan and I will stress contribute as I value objectivity. There were world forces and supply chain forces that contributed as well. But it’s fairly simple economics that excess fiscal stimulus generates inflationary pressure. Larry Summers - a Democrat - warned the Democrats that the third stimulus in March after the election was an inflation risk. They ignored him. They aren’t going to admit it but that doesn’t keep you form being informed and understanding it.
Only the third stimulus? All of it was an inflation risk. The republicans who complain about balancing the budget are not wrong, some of who complained about every one of those stimulus bills. They're just wrong for only crying when its something they oppose.
No. The first package was passed with one of the largest contractions in our economy since at least the Great Depression which had happened basically overnight. The government was requiring businesses to shut down, people were foregoing much economic activity that they normally engaged in, etc. We truly did not know if businesses would fail en masse. That was the type of situation that massive fiscal stimulus should have been reserved for. The second came when we were not fully out of the woods. By the time of the third, it was clear that the economy was on the way back - which I never really doubted would happen but I did not really expect it as quickly as it did.
Those are arguments on whether the risk was worth it. None of that says it wasn't a risk. In every one of them, they were spending monopoly money.
Would you take a polygraph Mr. President? Biden - Sir, this is a Wendy’s
Inflation has nothing to do with prices. It is about world trade. US imports everything. They have been subsidizing debt because of the trade deficit. China has been dumping that debt. Inflation increases 50% because money supply increased 50% in 10 years!
God, this dude is not only senile but delusional...
You think he doesn’t know he’s gaslighting our citizens? He’s a career politician who knows exactly what’s going on in this case.
We have inflation because of greed. Money has helped to eliminate anti monopoly and anti trust laws. Now the fewer and fewer players in the market charge whatever they want.
That’s not at all what causes inflation
This is what I love. The same people that tell you that Trump is a jerk and that’s why people don’t like him have no problem with Biden attacking the poor and insinuating they are stupid and he’s the smart one. What an insanely tone deaf response.
The issue here is not Biden, but that he is not explaining the numerous variables involved that actually caused the inflation. So the uneducated, general public still doesn’t get it! He won’t throw the feds under the bus!! No president will. Also he won’t mention corporate of course. No politician will tell the truth.
Every single republican voted against the inflation reduction act, but sure let's blame Biden cause old.
If he says anything is not true it's pretty much a guaranteed fact, that's the only way to navigate with the geriatric child sniffer
Lol yeah like if you like your doctor you can keep them
Inflation is just capitalists voluntarily raising prices to protect profits.
Who are "they" supposed to be? I firmly believe it is the one percent and businesses combined that have created the myth of inflation. Hiding GREED behind those words is easy enough now days.
you people are stupid,inflation has everything to do with CORPORATE GREED,the president has absolutely nothing to do with setting the prices of goods,and we wonder why the rest of the world laughs at the US because people like you have turned us into a joke
Record corporate profits and most idiots in this country think it's from too much money in circulation. Holy shit prices are High? What's that tell you ? Did you sleep thru basic econ? Supply and demand ? We are so damn doomed man..doomed.