quote:

Meh, what happened during Covid certainly set the stage for a tic up in inflation. But Biden threw gasoline on the fire right out of the gate. Needlessly. He owns this.

The final 3-4 points of inflation almost certainly came from Biden's dumb final stimulus a couple of months after he took office.

But there's blame on all involved. And there's certainly no reason to believe Trump will somehow be reserved from a spending standpoint.

I actually think the fairest perspective is the split has come down to extreme social issues, as there appears to be uniparty agreement on spending into oblivion.

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Posted by Newgene

Waveland, MS

Member since Nov 2005

7280 posts

Posted on 6/22/24 at 4:52 pm to boomtown143

quote:
Trump wants to impose a new 60% tariff on all imports from China and a 10% tariff on all other imports. Since tariffs are taxes paid by Americans, that would raise a typical family’s costs by $1,700 a year

So, the trade-off will be paying an extra $1700 a year, but I pay no income tax. Yeah, the author is a hack that is just being deceitful. If he tells it truthfully, that's an incredible deal that anyone with a job would take in a heartbeat. That would be too good to be true.

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Posted by TxTiger82

Member since Sep 2004

34324 posts

Posted on 6/23/24 at 4:03 pm to SDVTiger

quote:
Rates where zero when he was prez.

quote:
SDVTiger

Trump governed in a rising-rate environment. I'm not really sure your argument is about or what point you were trying to make here, but your claim about interest rates is straight up wrong. In fact, interest rates rose steadily in between Trump's inauguration in January 2017 and the onset of the Covid-19 recession in March 2020.

The data are publicly available.

LINK

This post was edited on 6/23/24 at 4:13 pm

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Posted by TxTiger82

Member since Sep 2004

34324 posts

Posted on 6/23/24 at 4:12 pm to SloaneRanger

quote:
Covid certainly set the stage for a tic up in inflation.

That's an understatement. Covid created a trifecta of bad circumstances for inflation. (1) supply chain disruptions in China and elsewhere (cost-push factors); (2) whiplashing demand due to revenge spending (demand-pull factors); and (3) rising wages resetting expectations (built-in factors).

No Fed chair (much less a president) could have navigated through that confluence of inflationary pressures unscathed. Frankly, Powell has done a fairly decent job given the very difficult circumstances.

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