Biden's Dishonest Attempt To Pin Inflation on Putin

[Grand Mal]

I'd like to see all the negative alt-right MSM propaganda end. But I have very little confidence that that will occur. It would take a renaissance of enlightenment for that to happen, and I have very little faith in the emotional growth of my fellow man. Team Bidens going to have to completely revamp their media output if they're going to stand a chance against the deluge of anti Biden garbage packing our news feeds.

No doubt the partisanship is getting more and more toxic. Especially around economic issues that everyone has strong opinions on but very few people really understand.
But I'm confident we're all in for an economic boom, a strong reaction to the pessimism that we all suffered these last couple years. And economic booms bring inflation and inflation brings rising interest rates. Anyone who was encouraged by low rates to increase their debt load ought to do whatever they can to reduce it now.
Those vocal rightists are going to ignore the truth and spin whatever happens to suit their narrative. Economic boom? Biden is responsible for rising prices and rising interest rates and jobs going begging. Economic recession? Biden is responsible for low growth and high unemployment. When actually Biden doesn't have near the influence over those things happening that his detractors say- all he can control is the reaction the federal government has to events.

 

[Mach]

You seem to be doing everting in order avoid what is being proven to be the central cause of inflation: both the fed and federal government injected excessive levels of stimulus into an already recovering economy.

The two more credible sources I cited do not believe that's been "proven".

IMO, anyone who cannot acknowledge that as at least a factor is working an agenda.

Claiming disagreeing with you based on good reasons found and quoted from those better sources, is "working an agenda", is absurd.
Clearly your Reason article was working the agenda here, it reads like something they would put on Fox news...Biden bad!! It was so obviously partisan I'm ashamed for you that you posted it.

 

[AGENT J]

wait f what?
are tinfoil hat nutters still desperately pushing "Biden" is responsible for Gas prices and "Biden" is responsible for inflation false narratives?
good lord

imagine there was a speeding car that hit a pothole, then blew a tire, flew off the road and rolled over 20 times down a hill
its stuck down there with you in it

EMS shows up, fire, police, search and rescue, local tow truck, state DOT etc and they coordinate and decide what to possibly do
they decided theres a person in the car and thats first priority, they send some guy named joe down to announce the plan that he also supports
another guy is sent down to you on ropes and with a crowbar, blanket, water, food and first aid kit
he reachers you, forces your door open scratching it and denting it some and puts a blanket on you, treats your wounds and gets you to the top of the hill

then you turn around and yell at joe. . .. " hey asshole look what you did to my car, you scratched my door, this is all your fault"!!!

yep . . .thats how stupid it is to blame an American president for our current situation regarded gas and inflation
oh wait . . . . . . did i mention that global road safety scholars predicted this accident as early as March 2020
LMAO

 

[Napoleon]

It's my contention that your opinions are nothing more than that of just one more armchair general parroting unsubstantiated alt-right MSM propaganda. If Biden is so culpable for inflation in America, how is it that the rest of the planet is also suffering from runaway inflation? If Biden is responsible for our high petrol prices, is he also to blame for gas being $8.00 a gallon in Canada?

Biden can’t blame Putin for inflation without blaming himself for his sanctions. You can’t have it both ways. If you want to claim that the war in Ukraine is responsible for extending inflation then there’s no escape from the fact that the only reason for that is Biden’s response to it. You can’t slice Russia out of the global economy and walk away from that like you aren’t responsible for the consequences of that economic shock.

 

[NatMorton]

The two more credible sources I cited do not believe that's been "proven".


Claiming disagreeing with you based on good reasons found and quoted from those better sources, is "working an agenda", is absurd.
Clearly your Reason article was working the agenda here, it reads like something they would put on Fox news...Biden bad!! It was so obviously partisan I'm ashamed for you that you posted it.

First of all, Trepper has also been a writer for the NY Times, so that alone draws his objectivity into question.

But more to the point, even your Forbes article acknowledges the Fed's role in driving inflation by citing what the Fed plans to do now that it's realized inflation was not "temporary":

To deal with inflation more forcefully, the Federal Open Market Committee (FOMC) moved up the end date for its quantitative easing (QE) bond purchases to March. The committee has also put markets on notice that it will start selling assets from its tremendous balance sheet later in 2022.

The quantitative easing is the Fed stimulus cited in the articled from OP. The Fed should have been far quicker pulling back on this.

Trepper is also silent on whether he thinks the COVID aid packages fueled inflation, or not, so your cite does not refute the OP, either.

 

[Greenbeard]

Biden can’t blame Putin for inflation without blaming himself for his sanctions. You can’t have it both ways. If you want to claim that the war in Ukraine is responsible for extending inflation then there’s no escape from the fact that the only reason for that is Biden’s response to it. You can’t slice Russia out of the global economy and walk away from that like you aren’t responsible for the consequences of that economic shock.

Blame for Biden's sanctions on Russia also lies with Putin. His war of aggression, his consequences.

 

[NatMorton]

The two more credible sources I cited do not believe that's been "proven".


Claiming disagreeing with you based on good reasons found and quoted from those better sources, is "working an agenda", is absurd.
Clearly your Reason article was working the agenda here, it reads like something they would put on Fox news...Biden bad!! It was so obviously partisan I'm ashamed for you that you posted it.

... and the same is true for your second, AP cite. It too acknowledges the Fed's role in driving inflation:

So the Fed has radically changed course. Last month, the central bank signaled that it will begin a series of rate hikes in March. By doing so, the Fed is moving away from the super-low rates that helped revive the economy from 2020′s devastating pandemic recession but that also helped fuel surging consumer prices.

And that AP article certainly doesn't refute the OP article's claim that federal spending also played a role. Like the OP's article, it quotes Summers but does not take an editorial position.


(Tip: I realize you're eager to defend the administration, but I suggest you read your own cites just a bit more carefully. They're not making your argument.)

 

[Crakhobarbie]

Biden can’t blame Putin for inflation without blaming himself for his sanctions.

You can't prove that Bidens sanctions had any discernable affect on gas prices or inflation. You can cite opinion pieces, but there's no viable evidence that supports such a claim.

 

[Napoleon]

You can't prove that Bidens sanctions had any discernable affect on gas prices or inflation. You can cite opinion pieces, but there's no viable evidence that supports such a claim.

Other than the Fed and the Administration saying it is?

 

[Nickyjo]

the only dishonest idiots are the ones blaming Biden, right wing traitor trolls

As has been already explained, inflation is caused by the pandemic, and now Russia invading Ukraine which raised gas prices, oh, and price gougin

Nobody is going to read your moronic troll link from garbage sites. And I know you won't respond with anything other than more moronic trolling

Deman d was down during pandemic, production decreased, workers were laid off. Things opened up (if you want to blame Biden for securing vaccines and testing to help open things up again, fine, but that is what right wing whiners wanted the entire time). production hasn't ramped up. Also, the pandemic was worldwide and many places still dealing with it. Even now, places across thew orld are going into lockdown. We are a global economy so things happening in other countries affect. People struggling to find workers as well

2. War by russia raised the prices of oil worldwide. Greedy countries making killing don't want to increase production to reduce prices since they are making a killing. And oil companies making so much profit they are gouging. No president controls oil prices

Anyway, the same typical traitor troll moronic shit that's been refuted over and over and over again

You don’t understand Biden’s great power. In a little over a year he has single-handed my caused inflation to rise at levels not seen for years, and has influenced Russia to invade Ukraine. And his foolishness in opening the border completely - under the genius cover of obeying laws and treaties - has flooded the US with illegals.

 

[Crakhobarbie]

Other than the Fed and the Administration saying it is?

Nonsense. How's it possible your less I formed than I already assumed? The fed is responsible for addressing the inflation. They are not the "cause" of the inflation. Do you understand now?

 

[Crakhobarbie]

You don’t understand Biden’s great power. In a little over a year he has single-handed my caused inflation to rise at levels not seen for years,

The inflation were all experiencing now is global . Are you suggesting Bidens solely responsible for global inflation?

, and has influenced Russia to invade Ukraine.

Total nonsense Putin invaded Ukraine and would of done do no matter who was president. I'd love to see you support your nonsensical allegations with some viable proof instead of your mindless speculation..

. And his foolishness in opening the border completely - under the genius cover of obeying laws and treaties - has flooded the US with illegals.

Joe Biden does not have an open border policy. You've fallen victim to alt-right MSM propaganda.

Biden Doesn't Have an 'Open Border' Policy, so Why Does GOP Say Otherwise?

While Republicans such as Greg Abbott and Ted Cruz have said Biden has an "open border," immigrations experts have said that is not correct.

www.newsweek.com

 

[Court Jester]

Biden is OWNED by the far left environmentalist and social justice camps. ALL of Biden's decisions since he was elected have prioritized for anything other than making the American economy strong during the pandemic recovery.

Right now we are in a period of stagflation, and unless the Federal reserve starts raising interest rates at a level to counter inflation, a steep economic recession is not too far off. So, Biden and the democrats need to make some hard decisions to STOP attacking fossil fuel, to STOP regulating businesses to death, and to stop raising taxes. They fail to do this NOW, they will be voted out of power soon anyway.

What was it Clinton's advisor James Carville told Clinton when Clinton wanted to stick to social justice crap when the economy was slowing? He said "its the economy stupid!" The thing which matters MOST to voters.

 

[jcgriff2]

The debt financed tax cuts during an expansion along with the increased spending starting in 2020 has brought us here. The attempt to lay all the blame on what has occurred since January of 2021 is unreasonable.

No... the US began its latest downhill plunge on January 20, 2021, after Biden began signing dozens of presidential proclamations negatively affecting US oil policies, calling all Republicans and whites racist and white supremacists and other stupid democrat rhetoric.

Biden then went on an autocratic rampage with his damn COVID mandates which resulted in many millions of smart Americans saying "the hell with this" and never returning to work.

We used to be able to say that Jimmy Carter's presidency was the worst, but Biden has disgracefully far surpassed Jimmy on every front. There is a reason that Biden has never been a serious presidential contender during the last 44/8 years - and we're seeing it now.

This whole damn mess was absolutely predictable. . . and was by many.

 

[Razoo]

A must-read for anyone who wants to understand why we're seeing such high levels of inflation and to understand how Team Biden is lying to you.

Biden's Dishonest Attempt To Pin Inflation on Putin

Ten months ago, Jeremy Siegel issued a dire warning about the trajectory of prices. "The money supply since the beginning...

reason.com

nothing but spin and lies = the anti american republican platform = aka BS

 

[mrjurrs]

A must-read for anyone who wants to understand why we're seeing such high levels of inflation and to understand how Team Biden is lying to you.

Biden's Dishonest Attempt To Pin Inflation on Putin

Ten months ago, Jeremy Siegel issued a dire warning about the trajectory of prices. "The money supply since the beginning...

reason.com

Right, money supply. Answer me this. Why didn't the djt tax cuts (not paid for) result in inflation?

 

[NatMorton]

Right, money supply. Answer me this. Why didn't the djt tax cuts (not paid for) result in inflation?

Because when you're at a point of excessive levels of taxation, as we were and even still remain, cutting taxes is a healthy thing for an economy.

Besides, all else being equal, tax changes in either direction do not increase (and thus do not dilute) the money supply; it's only a question of who retains possession of that money, those that earned it or those that confiscated it.

 

[reflechissez]

“Markets have volatility” is not the answer to a 40 year high in inflation with no signs of stopping while the Fed sits with its thumbs up it’s *** for three years. It’s not just going to go away by itself.

Convenient marker. Go back 42 years and compare. Regardless, inflation is going to last longer and go higher than most people think. Interest rate cycles are long.

U.S. Inflation Rate 1960-2023

Inflation as measured by the consumer price index reflects the annual percentage change in the cost to the average consumer of acquiring a basket of goods and services that may be fixed or changed at specified intervals, such as yearly. The Laspeyres formula is generally used.

www.macrotrends.net

 

[diz]

Biden has a weird mix of blameshifting for anything going wrong and taking credit for anything going right. He’s powerless and all-powerful both.

 

[mrjurrs]

Because when you're at a point of excessive levels of taxation, as we were and even still remain, cutting taxes is a healthy thing for an economy.

Besides, all else being equal, tax changes in either direction do not increase (and thus do not dilute) the money supply; it's only a question of who retains possession of that money, those that earned it or those that confiscated it.

Fail. Cutting taxes (stimulus) at the end of a 10 year growth spurt was dumb, and did not provide for the impact you claim. Additionally, an unpaid for tax cut requires the creation of more money supply.

Provide an economist that believes otherwise...

 

[NatMorton]

Fail. Cutting taxes (stimulus) at the end of a 10 year growth spurt was dumb, and did not provide for the impact you claim. Additionally, an unpaid for tax cut requires the creation of more money supply.

Provide an economist that believes otherwise...

You’re making the claim, so you prove it.

 

[Michael Cole]

A must-read for anyone who wants to understand why we're seeing such high levels of inflation and to understand how Team Biden is lying to you.

Biden's Dishonest Attempt To Pin Inflation on Putin

Ten months ago, Jeremy Siegel issued a dire warning about the trajectory of prices. "The money supply since the beginning...

reason.com

Economics, being the social science it is, can be very imprecise. Opinions vary, complete consensus is rare. Presenting opposing analysis is welcomed, and should be examined as any other.

This is my problem with the OP. The headline presents an opinion of moral judgement, not economics. (Biden isn't pinning anything on anybody. He's correctly stating that cutting off Russian imports will raise the price, and lo and behold, it did. Smh.)

My problem with the comment is that it assumes others' opinions of what is 'must read' are the same as his own.

Something that is 'must read' should not need to be pushed so hard with assumptions and hyperbolic moral proclamations. Not worth my time. To be honest with ya, I really don't give a rat's ass who or what is causing the inflation. I understand economic principles just fine. Supply and demand. I don't care to delve deeper than that looking for blame. You can blame Biden, me, my dog. Have at it.

 

[mrjurrs]

You’re making the claim, so you prove it.

It's plain as the nose on your face. Tax cuts stimulate the economy. The last tax cuts took place at the end of an almost 10 year growth market. You don't add stimulus to a growing market, even if it is coming to an end. If tax cuts are not paid for by reducing expenses, they are (as some of your ilk are like to claim) 'funny money'. It's not a claim, it is.

 

[NatMorton]

Economics, being the social science it is, can be very imprecise. Opinions vary, complete consensus is rare. Presenting opposing analysis is welcomed, and should be examined as any other.

This is my problem with the OP. The headline presents an opinion of moral judgement, not economics. (Biden isn't pinning anything on anybody. He's correctly stating that cutting off Russian imports will raise the price, and lo and behold, it did. Smh.)

My problem with the comment is that it assumes others' opinions of what is 'must read' are the same as his own.

Something that is 'must read' should not need to be pushed so hard with assumptions and hyperbolic moral proclamations. Not worth my time. To be honest with ya, I really don't give a rat's ass who or what is causing the inflation. I understand economic principles just fine. Supply and demand. I don't care to delve deeper than that looking for blame. You can blame Biden, me, my dog. Have at it.

A fairly blithe reaction when you consider how many people are going to be hurt by a cycle of high inflation, and particularly the poor and the elderly on fixed incomes.

But hey, why is this important? It’s just supply and demand, And it’s certainly not reasonable to try and understand why it happened. And especially so if that knowledge might mean Democrats and their penchant for spending money we don’t have might be part of the reason.

 

[mrjurrs]

A fairly blithe reaction when you consider how many people are going to be hurt by a cycle of high inflation, and particularly the poor and the elderly on fixed incomes.

But hey, why is this important? It’s just supply and demand, And it’s certainly not reasonable to try and understand why it happened. And especially so if that knowledge might mean Democrats and their penchant for spending money we don’t have might be part of the reason.

Coming out of the pandemic, would you have chosen this period of inflation or an extended depression?