3.2% inflation

Mr.Badguy said:
If Trump had stayed in office and had the exact same numbers they'd be praising him.
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You are correct. And Democrats would be complaining about these exact same numbers if Trump was still in office.

It's literally the same playbook over and over. Now in our defense we aren't economists here, but notice how little discussion there is about actual inflation, what's driving it, what the Fed is doing etc? Every single time it goes back to past President's performances as if that has anything to do what decisions are being made today. Different day/same discussion.
 
It has absolutely been the pattern since Reagan: the Republican leaves office w/ a Recession or crash or otherwise negative economy, and a Democrat leads the recovery. This is just statistics.

And agreed w/ what others have posted: if Trump was President w/ this economy, it would be the most amazing economy in history.
 
BartenderElite said:
It has absolutely been the pattern since Reagan: the Republican leaves office w/ a Recession or crash or otherwise negative economy, and a Democrat leads the recovery. This is just statistics.

And agreed w/ what others have posted: if Trump was President w/ this economy, it would be the most amazing economy in history.
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Actually that is not true. There was a recession in 1990 - 1991 (ended in March 1991). After that the economy recovered and was on the upswing when Clinton took office. Clinton's final year in office was when the dot com bubble burst and we went into recession like a month after he left office. So he took office on the upswing and left it heading downwards. And the economy had already rebounded from the shutdown when Biden took office. He took office during an upswing.

Talking about Bush and Clinton has nothing to do with the policy choices we are making today vis a vis inflation.
 
If you use the graphs I posted earlier, the real GDP growth adjusted for inflation for each president since Eisenhower you get:

Eisenhower 0.6
Kennedy 4.3
Johnson 2.6
Nixon -2.8
Ford -4.8
Carter -4.7
Reagan 0.6
Bush I -1.2
Clinton 1.9
Bush II -0.8
Obama 1.3
Trump 0.9
Biden (estimated) -3.2

So, Biden has the worst economy since Carter, but both Carter and Ford presided over worse ones than Biden.
 
Jarod said:
I understand and it is a problem. New people cant move here unless they inherited a lot of money, it is changing the character of the area. I hate it for that reason. My kids, who will inherit very little, wont be able to move here.

I am considering cashing out in a few years and moving away, I hate the entitled nature of the newcomers.
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Is there any reason you posted this twice?
 
For a quick, off the cuff, set of reasons the above numbers for each president occurred, I'd give:

Eisenhower presided over a peacetime economy so growth was slow but steady

Kennedy presided over a massive increase in government spending for defense and the space race artificially moving the GDP up.

Johnson tanked Kennedy's economy with massive social spending (the Great Society) and getting us into Vietnam

Nixon was hurt by Vietnam and then by his own expansion of government with agencies like the EPA and OSHA that hit industry hard.

Ford was a chair warmer and took it on the chin because of Nixon's actions.

Carter didn't help anything with his response to the gas shortages of the time. Rationing and cutting back on use were the wrong answers. The economy tanked further.

Reagan spent massively on defense, like Kennedy, and the economy recovered due to that.

Bush I got the benefit of the beginnings of a "Peace dividend" from the end of the Cold War.

Clinton, pushed that peace dividend further and continued the economic boom.

Bush II got hit with the GWOT and wars are expensive. The economy took a hit

Obama got a bit of a peace dividend and the economy came back to positive growth.

Trump saw a slowing of that growth, much like Eisenhower for example.

Biden came in to a recovering economy and immediately dumped trillions into Greentard projects that lost money in massive amounts. The economic upheaval that created tanked the economy when it should have grown.
 
cawacko said:
You are correct. And Democrats would be complaining about these exact same numbers if Trump was still in office.

It's literally the same playbook over and over. Now in our defense we aren't economists here, but notice how little discussion there is about actual inflation, what's driving it, what the Fed is doing etc? Every single time it goes back to past President's performances as if that has anything to do what decisions are being made today. Different day/same discussion.
Click to expand...

You aren't wrong. I tend to stay out of economic discussions regarding single presidents or their administrations, because the "economy" is too nebulous of a term and can be used just about any way you want to promote an agenda.

As a super-lefty I tend to blame laissez faire capitalism in general which both Republicans and corporate Democrats serve.
 
Mr.Badguy said:
You aren't wrong. I tend to stay out of economic discussions regarding single presidents or their administrations, because the "economy" is too nebulous of a term and can be used just about any way you want to promote an agenda.

As a super-lefty I tend to blame laissez faire capitalism in general which both Republicans and corporate Democrats serve.
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The other variable involved in the economy is the federal reserve (monetary policy) who arguably has more control over the economy than anyone else in certain ways. But we don’t vote for Fed members and quite frankly most have little understanding of what they do so we end up giving more credit/blame to the President than they usually deserve.
 
cawacko said:
The other variable involved in the economy is the federal reserve (monetary policy) who arguably has more control over the economy than anyone else in certain ways. But we don’t vote for Fed members and quite frankly most have little understanding of what they do so we end up giving more credit/blame to the President than they usually deserve.
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yes. blame the jew bankers, right nazi?
 
Cypress said:
Inflation rates of Developed Countries, October 2023

USA 3.2%
Australia 5.4%
Canada 3.8%
France 4%
Germany 3.8%
Japan 3.0%
Italy 1.7%
South Korea 3.8%
United Kingdom 4.6%
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It's nice that the rate of rise is coming down . But inflation has risen by 17.4% since Biden assumed office.
Since President Biden took office, prices have increased cumulatively by 17.4 percent, while hourly wages have increased only 13 percent. In looking at the past seven presidents, only Jimmy Carter had a bigger inflation rate, 26.2 percent, at a similar point in his presidency. For the past four presidents, their Presidential Inflation Rate was in single digits, and, specifically, Biden’s PIR is triple that of where Donald Trump (5.6 percent) and George W. Bush (5.4 percent) were at this point in their first terms.
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https://rollcall.com/2023/09/20/lat...n took office,similar point in his presidency.
 
When Trump passed his tax package early in his admin, economists said it was a short-term measure. It was designed for a quick spike, for the midterms. It was bad for the foundation of the economy, and for the long-term.

It's such a myth that he achieved all of this great success prior to COVID. Trump was an incompetent President, and even those on his inner circle said he had little interest in actually governing, and in policy.

He's the best con man I've ever seen, and probably the most effective in history. To this day, millions still buy his BS.
 
T. A. Gardner said:
That's rather disingenuous. A near nationwide shutdown of the economy for Chinese Disease, with the high population blue (Democrat run) states like California and New York leading the way, resulted in a huge temporary drop in employment. But you ignore that and then use it as the focus of your statement. That is nothing but cherry-picking evidence.
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And yet you want to use that SAME point of deflation (economy shut down), to criticize Biden and todays inflation rate, and you call others disingenuous?

Are you really that stupid or just a troll?
 
There are few things a POTUS can do that are more damaging to the long term health of the economy than running up massive debt when handed a hot economy, as Trump was gifted by Obama.

A responsible POTUS, focuses, like Clinton did, on then balancing the budget and PAYING DOWN debt by running surpluses so that if the economy goes in to a downturn in the following years, it is better set to deal with it.

What Trump did by piling on debt, cutting Revenues massively (tax cuts) and keeping interest rates so low to give the economy a sugar high, was to ensure when Covid hit, that he and the POTUS who followed would have few of the normal tools to help float and save the economy such as lowering interest rates, to spur the economy and avoid recession.

It is like you get your highest paying job ever and yet still instantly run all your personal debt to the max, so in any personal downturn (job loss, or pay cut) you are screwed.

That is who Republi'cans' are and how they manage the economy and why they ALWAYS ruin them handing off recessions to every Dem admin that follows who clean it up, turn it around and hand the next Republi'can' a strong economy.

Donald Trump Built a National Debt So Big (Even Before the Pandemic) That It’ll Weigh Down the Economy for Years
The “King of Debt” promised to reduce the national debt — then his tax cuts made it surge. Add in the pandemic, and he oversaw the third-biggest deficit increase of any president.
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archives said:
Forget it, the MAGA have come up with new variables to measure the economy, during the Obama recovery it was Labor Participation Rate, and now they’ve added another to counter any signs of economic improvement
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Hahahaha... how true. And don't forget, that during (R) administrations, the statistics from the government are all absolutely, 100% trustworthy. The ones during (D) administrations? They're all lies. :rofl2:
 
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