Dutch Uncle
* Tertia Optio * Defend the Constitution
Don't expect any MAGA morons to understand this, but here's the truth behind "Bidenflation". Notice that the "soft landing" provided by the Biden administration has now been converted into a Trump crash. Sad.
The final accounting on 'Bidenflation'
Inflation turned out to be the surprise villain of Joe Biden’s four-year presidency. It arrived with little warning in 2021, hit a 40-year high in 2022, and undoubtedly contributed to Vice President Kamala Harris’s loss in the 2024 presidential election.
Yet the US economy survived inflation better than many economists expected. Aggressive rate hikes by the Federal Reserve helped bring inflation down rapidly from 2022 to 2024 without the recession that dramatic monetary tightening often causes. As Biden leaves office, the economy appears to have nailed a “soft landing,” in which growth and employment held up while inflation cooled....
...In terms of buying power, inflation split Biden’s presidency into a wipeout phase and a recovery phase, as the chart above shows. From April 2021 through May 2023, real earnings were negative, which means incomes were growing by less than inflation. Real earnings turned positive in June 2023 and have stayed that way. But the recovery came too late for Biden and his fellow Democrats. Exit polls from the 2024 election clearly showed voters continued to feel stung by inflation and blamed Biden and, by extension, Harris.
Voters trusted Donald Trump more on inflation, and the data backs them up. <--- and this is where We, the People fucked ourselves as events over the past two months have proved.
The final accounting on 'Bidenflation'
Inflation turned out to be the surprise villain of Joe Biden’s four-year presidency. It arrived with little warning in 2021, hit a 40-year high in 2022, and undoubtedly contributed to Vice President Kamala Harris’s loss in the 2024 presidential election.
Yet the US economy survived inflation better than many economists expected. Aggressive rate hikes by the Federal Reserve helped bring inflation down rapidly from 2022 to 2024 without the recession that dramatic monetary tightening often causes. As Biden leaves office, the economy appears to have nailed a “soft landing,” in which growth and employment held up while inflation cooled....
...In terms of buying power, inflation split Biden’s presidency into a wipeout phase and a recovery phase, as the chart above shows. From April 2021 through May 2023, real earnings were negative, which means incomes were growing by less than inflation. Real earnings turned positive in June 2023 and have stayed that way. But the recovery came too late for Biden and his fellow Democrats. Exit polls from the 2024 election clearly showed voters continued to feel stung by inflation and blamed Biden and, by extension, Harris.
Voters trusted Donald Trump more on inflation, and the data backs them up. <--- and this is where We, the People fucked ourselves as events over the past two months have proved.
