May CPI 8.6%

[Anonymous]

If it's back to Biden vs Trump, I will vote for Biden again.

[Anonymous]

Anonymous wrote:Trump was buffoon but even he didn't drive the economy into a ditch. Biden just seems like a senile puppet so I blame the people controlling Biden.

GDP went down 3.5 percent in 2020. It was the worst year in over 70 years. I swear you Trump supporters live in a different universe.

[Anonymous]

Anonymous wrote:I voted for Biden to get rid of Trump. Never again. He is a complete disaster and has no plan while the economy collapses and trillions in wealth is wiped out (so far).

Oh, he has a plan. And he's executing it with help.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:This administration loves to say that inflation is a global phenomenon and throws up its hands but that's pretty dishonest.

Biden could ease Trump tariffs that made no sense back then and definitely no sense now.

He should also not entertain this dumb idea of forgiving student loan debt and putting more money into people's hands. Every time this administration has listened to the progressive faction (Bernie/Warren/Jayapal) has been ruinous for the rest of the country.

In what way did entertaining the idea of student loan forgiveness cause current inflation?

By stopping payments on student loans, he has flooded the economy with money that shouldn’t be there all while dangling out loan forgiveness. This means instead of people taking advantage of this time to pay down the principal, they are spending the money elsewhere “just in case”. DP

I would argue that the PPP loans, mortgage freeze, low mortgage rates, and extended unemployment checks were far more damaging.

Most of those were Trump policies, not Biden.

[Anonymous]

I cannot believe anyone would use 2020 numbers as any comparison. That is asinine

Can no one put any of this into perspective? Please, just think

[Anonymous]

Unrealized gain isn’t wealth.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Trump was buffoon but even he didn't drive the economy into a ditch. Biden just seems like a senile puppet so I blame the people controlling Biden.

GDP went down 3.5 percent in 2020. It was the worst year in over 70 years. I swear you Trump supporters live in a different universe.

Hmm…remind me what happened in 2020? Something about pandemic if I recall?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I just honestly don't think the old rules apply here with what we have been through in the last year and a half. Pandemic and now war are the reasons for so much of this trouble.

What exactly would the Republicans do? Tax cuts again? Yeah, those have worked out so well for everyone *MASSIVE EYEROLL*

Agree that the old rules don’t fit the pandemic effects on the economy but the official economic statistics are adjusted for the pre-pandemic economy. We’ve seen that with the BLS labor data using their seasonal adjustments from pre-pandemic patterns and then having to make big adjustments. They finally modified their adjustments but with mostly guesswork.

For CPI and all the other stats adjusted to CPI, the average basket of goods and services built into it is based on pre-pandemic consumption patterns. Yes, gas prices are up but how many people drive as much now as they did in 2019? I sure don’t. I work from home 3 or 4 days a week now vs. 0 days 3 years ago. For commuting, I filled up twice a month 3 years ago but only once a month now, so even with higher prices, I spend less money on gas now. I also spend less on lunch, business attire, auto maintenance, etc., related to commuting, so inflation really hasn’t affected me. But the economic stats assume I’m still buying as much of everything as I bought in 2019.

If gasoline and food consumption were down, enough to make the old CPI models outdated, post pandemic, then odds are prices for those items would be down. The simple answer is that demand is not down enough to offset any supply constraints. The more nuanced answer is that oil flows through everything. You may not be driving to the office but you probably receive a lot more delivered goods at home. The further nuance is that consumption is down marginally from pre pandemic levels, but supply constraints more than offset reduced demand and cost for goods and services are up.

Come on. You know gas prices are not based on consumer demand. Its not a legitimate economic market.

Thats why gas was so cheap the past two years, right?

Demand for gas is higher than last year but not dramatically so, and demand isn’t at pre-pandemic levels. There is no demand reason for the current gas prices. It’s all due to the industry and supplier side.

[Anonymous]

Anonymous wrote:If it's back to Biden vs Trump, I will vote for Biden again.

+1000000

[Anonymous]

Anonymous wrote:Trump was buffoon but even he didn't drive the economy into a ditch. Biden just seems like a senile puppet so I blame the people controlling Biden.

trump DID destroy the economy! All because of the ridiculous covid lockdowns that forced businesses to close. People lost everything- businesses, homes, suicides- all because he shut the whole damn country down for a flu.

There is one person responsible for this economic disaster- trump.

[Anonymous]

Anonymous wrote:If it's back to Biden vs Trump, I will vote for Biden again.

Biden has done more damage in less than 2 years than even I thought was possible. No way I would EVER vote for this buffoon.
Trump had his faults, but he doesn't come close to the incompetency we have seen the past 17 months. From the Afghanistan withdrawal to the pandemic response, to the supply chain issues, the gas price crisis, the baby formula shortage, and the horrendous border crisis......Good God the border crisis. And, these are just the major issues we know about. I suspect there are issues brewing that we have not heard about yet.

[Anonymous]

Anonymous wrote:I voted for Biden to get rid of Trump. Never again. He is a complete disaster and has no plan while the economy collapses and trillions in wealth is wiped out (so far).

STFU troll.

[Anonymous]

Anonymous wrote:If it's back to Biden vs Trump, I will vote for Biden again.

I will vote for Joe as many times as I possibly can if this is the choice in 24. I’ll register at 30 different places if I have to and vote in every single one of them.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Trump was buffoon but even he didn't drive the economy into a ditch. Biden just seems like a senile puppet so I blame the people controlling Biden.

GDP went down 3.5 percent in 2020. It was the worst year in over 70 years. I swear you Trump supporters live in a different universe.

Hmm…remind me what happened in 2020? Something about pandemic if I recall?

Yes, that is what messed up the energy sector and supply chains and shipping and labor markets. Trump spent 2020 denying that there were any problems. The economy has recovered and added jobs in the past year and a half but there isn’t a switch you can flip that instantly resets productivity and efficiency. Some sectors have inefficiencies and obstacles and cartels and oligarchs that take time to sort out globally.

[Anonymous]

Anonymous wrote:

Anonymous wrote:If it's back to Biden vs Trump, I will vote for Biden again.

I will vote for Joe as many times as I possibly can if this is the choice in 24. I’ll register at 30 different places if I have to and vote in every single one of them.

Yeah apparently a lot of people did this in 2020. 83 million votes for the nursing home man.