Rising prices now are primarily because of exploding demand while supply chains have still not recovered from trumpian policy, and prices are recovering from their deflation because of a devastated economy under trump's administration. Inflation now is the price we're paying to avoid trump's depression. Now almost all Americans are better off because of record low unemployment and rising wages. But more specifically regarding trumpian policies: - inaction against COVID that ultimately decreased demand because of 2.9 million jobs lost and 6.9% unemployment - massive spending that produced the largest Federal deficit in history - 0% prime interest rate that resulted in cheap money and a devaluation of the dollar against foreign currencies - Tariffs that interrupted the supply chain of consumer products - $3 trillion stimulus in the latter part of trump's administation (mid 2020 and later) whose impact is now taking place.
Your ignorance is laughable What inaction? He did what he could with the information he had including banning travel to China, which got him blasted as a racist and developing a vaccine that you're so proud to force everyone to take. Biden said 'Hold my beer.' You've already proven yourself ignorant of how this works. Cheap borrowing costs boost economic growth. Businesses have an incentive to spend and invest, households are more likely to make new purchases and stocks prices propel forward. This does not cause devaluation of the dollar. Complete and utter bullshit. You have ZERO idea of what you're talking about. There were no supply chain issues under Trump. Wait, you just said Trump didnt do anything and now you're saying he enacted a $3 trillion stimulus. So which is it? And if Trump's stimulus is just now impacting us from mid 2020, imagine how bad its going to be next year when the impact of Biden's 'stimulus' hits us.
Your ignorance is staggering. Let's see... where shall I start... Do you even know that cash is not the biggest part of the money supply? 0% interest means easy credit, meaning lending institutions. as long as they maintain legal levels of reserve, create money as deposits. The point of such credit is to increase purchasing power. Increased money supply, increased purchasing power = increased demand = upper pressure on prices. Go take an economics course, for chrissake. Tom Cotton Admits Trump, Not Biden, Caused Inflation (nymag.com) Do you know what "supply chain issues" even means? It means supplies can't keep up with demand.... in a nutshell, PRODUCT SHORTAGES. Want evidence that trump's tariffs caused product shortages? How many articles do you need? Trump’s Tariffs Fueling US Inflation – Veterans Today | Military Foreign Affairs Policy Journal for Clandestine Services
Cash is a meaningless term as money cash or credit is fungible. The money supply has been increasing since 2009 and the Fed is primarily responsible for the inflation. Trump and the tax cuts & initial Covid relief and Biden with the follow on relief, BiPartisan Infrastructure Bill have been pouring gasoline on a fire. if the so called BBB passes it will exponentially increase the problem. The unfunded spending that will be required when the so called sunset provisions of many programs in the bill are extended indefinitely will add more debt. Like wise Biden has been complicit in reducing the flow of goods with his restrictions on drilling and other restrictions on market forces. So why has Biden maintained Trump’s tariffs? If they’re so bad it seems a simple thing to drop them. His so called order to open the ports 24/7 is meaningless when they can’t get enough trucks as a result of California’s restrictions on emissions. There are more ships in line waiting than there were before. Biden has done little to resolve the problem and much to make it worse.
No but I stayed at a Holiday Inn express. Actually I have friends who are fairly highly placed economists. One was a member of the St Louis Fed another a consultant for Hong Kong prior to the Chinese takeover. Also several who ran major corporations and banks. I’ve learned a lot from them…mostly by osmosis
