Inflation

Rises yet again in Big Guy 10%ers LAST month in office!!!!

2017   2.1%

2018   2.4%

2019   1.8%

2020   1.2%

2021   4.7%

2022   8.3%

2023   4.1%

2024   2.9%

WOW, the last FOUR years sucked!!  I wonder why

I should add, this means the four years of Big Guy 10%er inflation rose an even 20%!!!  Compare that to 7.5% in the Trump ERA

more maga non sense.  Dont worry trumpy is gonna wave a magic wand and make all corporations lower their prices lmfaoooooooooooo.

Oh wait he has already said that he wont be able to lower the prices, wait didnt he promise he could do it

I wish that i could let myself be a con artist, cause i would make so much money off magas, just telling them bullshit they want to hear. But since i couldnt sleep at night and wouldnt be able to look at myself in the mirror, i choose not to become a con artist.

That's not how this math works, bro.

Presidents have no or little control over inflation which is determined mainly by market supply and demand.  Trump was lucky to inherit low inflation from Obama economy.  He never had to work to lower inflation especially in a recession.  However Biden was unlucky to inherit a mess from Trump.  Fortunately, US economy recovered with low unemployment and inflation dropping from 9% to under 3%.  Now strong US economy is the envy of the world.

Trump saw us through the worst days of covid. At some points was essentially halted. Save the spin for your echo chamber.

@thirdperson

Do you agree or disagree with this one?

This is what mine said:

A president can influence inflation, but they are not solely responsible for it. Inflation is a complex economic phenomenon driven by multiple factors, including monetary policy, fiscal policy, supply and demand dynamics, and external influences like global commodity prices and geopolitical events. Here's how a president can have an impact, but also why they aren't the only factor:

1. Fiscal Policy: A president can propose and push for government spending and tax policies, which can affect inflation. For instance:

   • Increased government spending (such as on infrastructure projects or social programs) can stimulate demand, which, if the economy is near full capacity, can lead to higher prices.
   • Tax cuts or direct transfers to consumers can boost disposable income and aggregate demand, which may also contribute to inflationary pressures.

2. Regulation and Policy: Presidents can influence regulations that impact the cost of goods and services, including energy costs, healthcare, labor markets, and housing. For example, changes in environmental or labor regulations can increase or decrease production costs, which in turn can influence inflation.

3. Trade Policy: Presidential decisions about tariffs, trade agreements, and international relations can affect import prices, especially for goods like oil, food, and manufactured goods. For example, trade barriers could raise the cost of imports, leading to higher overall inflation.

However, the president is not the only actor in determining inflation. Key contributors include:

• Monetary Policy: The central bank (e.g., the Federal Reserve in the U.S.) plays a dominant role in managing inflation through control of interest rates and money supply. If inflation is rising, the Fed may increase interest rates to slow down borrowing and spending, which can counter inflationary pressures.

• Global Economic Forces: Global supply chains, commodity prices (such as oil), and external factors like geopolitical instability can also heavily influence inflation. For example, a rise in global oil prices or a disruption in supply chains can cause prices to rise in the U.S. and other countries.

• Labor Markets and Wages: If wages rise too quickly relative to productivity, this can lead to higher costs for businesses, which might pass those costs on to consumers in the form of higher prices.

• Private Sector Behavior: Companies may also play a role in inflation through pricing decisions, especially in concentrated industries where monopolistic or oligopolistic behavior can lead to higher prices.

While a president can have an impact on inflation through fiscal policies, regulatory decisions, and trade policies, the causes of inflation are multi-faceted. The Federal Reserve and global economic conditions often play a larger role in determining inflationary trends. Therefore, it's important to view inflation as the result of many interrelated factors, not just the actions of the president.

look it up.  Inflation is CUMULATIVE

Covid pandemic lasted for several years.  US third leading cause of death in 2021 and fourth in 2022.  Pandemic lead to supply problems.  Fortunately, US vaccination prevented over one million covid deaths and millions of hospitalizations.

@BigfootIsThere

 Even allowing that some of this is beyond Biden's control and the Pandemic's influence, it is still a drastic look when you examine it in detail.  But the overview also shows some of the stark concerns.

Some general overview key takeaways from the latest report:

Americans’ average hourly wages rose from $29.84 to $35.69 over the last four years, a 19.6% pay bump.

The fruits of higher pay were offset by inflation. The government’s consumer price index increased by 20.8% from December 2020 through November, slightly outpacing the pace of pay increases.

The labor force participation rate inched up from 61.5% to 62.5% over the last four years (the metric looks at the proportion of working-age Americans who are or want to be employed).

the labor force participation rate is still well below its 63.3% level in February 2020

Unemployment is higher than the 3.5% jobless rate at the beginning of Trump’s final year, in February 2020, before covid lockdown orders ravaged the labor market.

The total number of American workers in December 2024 is up only 5% from February 2020, far less than the headline 12% worker growth during Biden’s presidency.