What is it you think caused inflation?

archives said:
Interesting note on all these views on inflation as Biden’s fault is that they all completely ignore the fact that inflation is worldwide, and currently, most of the world is experiencing worse than what the US is going thru

So now did Biden cause world wide inflation?
Click to expand...

Because the idea of nuance is lost on a lot of people. And on a board like this, people see things only in absolutes because that's what partisans often do. The folks who think Biden is 100% responsible are wrong and those who think Biden played no role are wrong as well.
 
cawacko said:
As explained, even if he pushed for it (which would have been economically & politically ignorant) Powell wouldn't stopped what they were doing.

Inflation has multiple reasons; two big ones were monetary policy (the Fed reacting too late to what it had created) and excessive fiscal stimulus.
Click to expand...

In this case the biggest one was a Pandemic. It affected all the nations of the planet. Anyone who solely focuses on the US and disregards what happened in Europe, Japan, China and our other trading partners is either an idiot or a partisan asshat.

https://www.worldbank.org/en/public...n-the-economic-impacts-of-the-covid-19-crisis
The COVID-19 pandemic sent shock waves through the world economy and triggered the largest global economic crisis in more than a century. The crisis led to a dramatic increase in inequality within and across countries. Preliminary evidence suggests that the recovery from the crisis will be as uneven as its initial economic impacts, with emerging economies and economically disadvantaged groups needing much more time to recover pandemic-induced losses of income and livelihoods.
 
cawacko said:
As explained, even if he pushed for it (which would have been economically & politically ignorant) Powell wouldn't stopped what they were doing.

Inflation has multiple reasons; two big ones were monetary policy (the Fed reacting too late to what it had created) and excessive fiscal stimulus.
Click to expand...

You need to read the news, Trump very publicly pushed for the fed to keep QE going, after it was leaked that they had decided to end it. Powell's was threatened and he kept it going.

Trump said over and over again that he had the power to fire him and or demote him.
 
Jarod said:
You need to read the news, Trump very publicly pushed for the fed to keep QE going, after it was leaked that they had decided to end it. Powell's was threatened and he kept it going.

Trump said over and over again that he had the power to fire him and or demote him.
Click to expand...

Trumpers only know what Trump tweets or "truths" them.
 
cawacko said:
As explained, even if he pushed for it (which would have been economically & politically ignorant) Powell wouldn't stopped what they were doing.

Inflation has multiple reasons; two big ones were monetary policy (the Fed reacting too late to what it had created) and excessive fiscal stimulus.
Click to expand...

Well if you had paid attention, he did back down.
 
Jarod said:
You need to read the news, Trump very publicly pushed for the fed to keep QE going, after it was leaked that they had decided to end it. Powell's was threatened and he kept it going.

Trump said over and over again that he had the power to fire him and or demote him.
Click to expand...

Ok. And how is that relevant to our conversation?
 
cawacko said:
Inflation has multiple reasons; two big ones were monetary policy (the Fed reacting too late to what it had created) and excessive fiscal stimulus.
Click to expand...

Nope.

Completely fucking wrong.

Inflation was caused simply by corporate greed and nothing else.

Corporations dressed up price increases as inflation, while making record profits the entire time.

The true inflation rate is whatever the lowest rate of growth was, and that was on wages.
 
BidenPresident said:
Putting too much air in the tires. Sorry, we all get one joke per day.

But seriously, Exxon posted one of its greatest profits last year.
Click to expand...

You are a joke all unto yourself.
As for the gas profits, ask yourelf it the POTUS told you he was going to put you out of business, then drains the country's oil reserve and now has to replace it,...
Do the math idiot.
 
Jarod said:
It was that plus 12 years of pumping money into the economy, about 6 years too many.

Guess who ended QE? There were Republicans screaming for all 8 years of the Obama administration that it was going to cause inflation. Trump thought that also, its why he refused to end it....

Biden bit the bullet and ended it, resulting in inflation.
Click to expand...

Incorrect.

Jerome Powell
 
Jarod said:
What is it you think caused inflation?
Click to expand...

Corporate greed...because every single one of them made record profits during this period of supposedly high inflation.

They all lied and said they were raising costs because of inflation, but the truth is that they were raising costs because they could get away with it.

The true inflation rate is whatever the rate is that wages grew by...everything above that is attributable to simple corporate greed.
 
cawacko said:
When did he do this? Were you expecting 75 basis point increases into infinity?
Click to expand...

You are ignoring the reality. He said he was going to do it when Trump was president, it was the right thing to do... Trump threatened to fire him then said demote him, Powell backed off until Biden was president.
 
Inflation is baked into the cake.

it's a progression made inevitable with the beginning of our currency coming off the gold standard.

When we have to print more money, all existing money is worth less.

It's an occasionally necessary tax that can be implemented without passing a tax bill.
 
We are overthinking this.

It wasn't anything The Fed or the government, or anyone did to bring about inflation...corporations are faking price increases as inflation even though they have made record profits during this time of high inflation.

So that says to me that it's not any policy that drove inflation, it was simply corporate greed and they knew they could get away with it.

Record profits during a time of high inflation translates to corporate greed.
 
LV426 said:
We are overthinking this.

It wasn't anything The Fed or the government, or anyone did to bring about inflation...corporations are faking price increases as inflation even though they have made record profits during this time of high inflation.

So that says to me that it's not any policy that drove inflation, it was simply corporate greed and they knew they could get away with it.

Record profits during a time of high inflation translates to corporate greed.
Click to expand...

Yes, that too.

We have a seriously underregulated private sector.
 
You must log in or register to reply here.
Back
Top