Inflation Is Worldwide, Not Caused By The President.

[Peacenik]

The $USD$ is the world reserve currency:

Facts are facts and math is still math.

Reserve Bank credit 4,144,341 Million Week ended Mar 4, 2020
Reserve Bank credit 8,906,114 Million Week ended Apr 13, 2022

That's what, 25 months the Fed "printed" $4.7 Trillion Dollars and that ISN'T what is causing inflation?

Get real.

Suspected cherry-picked weeks. No way to verify. No link.

Climate change - pandemic - war. Those are the major reasons for worldwide inflation. America is simply caught up in it and American executives are making record profits, so they don't care. They have a job to do and it is not helping people. It is making stock holders and themselves as rich as possible. There is no responsibility to society in a corporate board room. Anybody bringing it up would be laughed out of the room and quickly replaced.

 

[Peacenik]

Becuase we have the greediest companies and American's always get fleeced with pricing because our government works for the wealthy, while Europe goverment has consumer protections and works to protect the people from the greed. in the US, the greed is worshipped. We get fleeced on healthcare and basically subsidize all the pharma and device companies paying premium pricing while other countries limit prices. And our country uses the most resources and rely heavily on shipping from China, and a big part of the issue is a backlog in shipping of materials

Oh, there ya go. Spilling the beans.

 

[ataraxia]

Come this fall, I sincerely hope the Democrats run on this idea.

You are counting on populism and demagoguery.

And you know what? It's not a bad thing to count on. But that doesn't make Biden incompetent. Bringing back the GOP is like trying to fix a sore throat by cutting the throat out.

 

[Peacenik]

Maybe. But let us presume that is the case, Lloyd Christmas. For the sake of argument, let me grant that U.S. companies are gouging American consumers far beyond the increased cost of their inputs.

Who is responsible as the chief regulatory officer of our nation for letting that happen? The President of the United States. His departments can engage in major anti-trust litigation against companies such as the United States meat-packing cartel and similar oligopolies in order to break them up and increase competition over collusion and price fixing.

I am not going to engage in concern trolling, but if what you are saying is true, what if anything is Biden doing to stop that from happening?

-Laughing-

OK, so it's Biden's fault because he's NOT doing something?

And why would he come down on all his biggest donors? Under our system of legalized corruption, neither major party is going to attack corporate America. That is the quickest way to get voted out of office they could think of. Oh, they will huff and puff, drag them before Congress, give them a good talking to, but they will never do anything because corporate America runs our government.

If anybody thinks voting Biden or Democrats out would make any difference in how heavily our government regulates big powerful corporations, they are laughably mistaken.

 

[NatMorton]

Lotta good points there. The US is the world's leading producer of crude oil. If American oil executives wanted to increase production, they have the means to do it. That would increase supply and drive prices back down. But not so fast, they say. Why bother when they are making such record profits? And then they can simply invest in all the other businesses which will also have to raise prices as a result. Makes perfect sense if all they care about is getting rich.

Blame COVID. Blame climate change. Blame inadequate resources. Blame wealth inequality. Blame Putin. Blame corporate greed. Blame anybody and anything ... except, of course, Joe Biden and his policies.

 

[Peacenik]

Yes it is world wide. It is worsened by Joe Biden's many policy missteps. It's a fact deal with it.

Saying something doesn't make it so.

 

[ataraxia]

Blame COVID. Blame climate change. Blame inadequate resources. Blame wealth inequality. Blame Putin. Blame corporate greed. Blame anybody and anything ... except, of course, Joe Biden and his policies.

So do you think there is any reason OTHER than Joe Biden and his policies? Major global pandemics and international conflict are just distractions from this one true ultimate evil?

 

[NatMorton]

You are counting on populism and demagoguery.

And you know what? It's not a bad thing to count on. But that doesn't make Biden incompetent. Bringing back the GOP is like trying to fix a sore throat by cutting the throat out.

No, I'm counting on the Democrats looking foolish as they try to explain how they're not responsible for anything having been in complete charge of Washington for the last two calendar years. Inflation, crime surge, growing deficit, and the botched evacuation of Afghanistan are all going to require some fancy explaining, and I don't think they're up to it.

 

[NatMorton]

Saying something doesn't make it so.

And saying something isn't so doesn't make it disappear, either.

 

[Peacenik]

You are correct in as much as Biden has had very little to do with inflation stateside. The rise in the right wing MSM and it's propensity towards blaming anything and everything on the Biden administration is a direct response to the loss of the presidency of Donald Trump. RW Entertainment media posturing as "news" has been hammering away, quite successfully, at the Biden administrations inability to quickly address rising prices and everything else under the sun. Here's a good article on the issue.

Surging Inflation is a U.S. Phenomenon, Not a Global One

www.institutionalinvestor.com

Good article:

The U.S. inflation situation appears to be unique and may be the result of the country’s way of handling the labor market crisis during the pandemic. Although European responses varied somewhat by country, governments generally mitigated lockdown-related unemployment by lending money to employers to keep workers on staff and making those loans forgivable so long as workers were not laid off. As such, when lockdowns ended and businesses reopened, workers simply returned to their previous jobs. The rise in U.K. and eurozone unemployment was fairly modest because even when they were not able to show up for work, most workers in these nations were still technically employed and on payroll.

By contrast, U.S. employers laid off workers in droves in March and April 2020, sending the unemployment rate soaring from 3.5% to 14.8%.

 

[NatMorton]

So do you think there is any reason OTHER than Joe Biden and his policies? Major global pandemics and international conflict are just distractions from this one true ultimate evil?

Yes, the Fed's easy money policies. They ignored their own long-standing inflation triggers and continued with both low rates and QE despite signs the economy was already well in recovery.

In short, both Washington and the Fed botched the recovery, and we've all started to pay the price for that, literally.

 

[mrjurrs]

Bidenflation has infected the entire world's economy.

You're gonna need a source for that fat one. Just add imo to these ridiculous claims.

 

[ataraxia]

No, I'm counting on the Democrats looking foolish as they try to explain how they're not responsible for anything having been in complete charge of Washington for the last two calendar years. Inflation, crime surge, growing deficit, and the botched evacuation of Afghanistan are all going to require some fancy explaining, and I don't think they're up to it.

After losing several thousand soldiers, we lost 13 soldiers during evacuation. I’m not really sure what fancy explanation is required for that.

As far as having both branches of government, that’s true only on paper. As you know, two of the dem senators completely torpedoed some of the most useful legislation that could’ve helped people during this time of crisis. Clearly, in practice, they did not have both houses of Congress.

 

[noonereal]

Of course, this ruins the Republican 'blame Biden' narrative, but Republicans never let the facts get in the way of effective propaganda.

Inflation began in 2021 as a result of the pandemic, with an aside to climate change, but the Russian war on Ukraine has created a perfect storm of inflation.

None of this can be blamed on Biden.



Press Conference by Secretary-General António Guterres at United Nations Headquarters

If food and fuel inflation is wordwide and not limited to the USA, that means Biden didn't cause it.

Nutters think themselves the center of the universe. These global things makes no sense to the entitled.

 

[NatMorton]

Good article:

Ah, I see. We're not in trouble from too much government spending. We're in trouble because the government didn't spend enough.

And had we only poured more gasoline on the fire we could have saved this building ...

 

[Peacenik]

It's amazing how many times this graph needs to be posted. We have about the worst inflation rate in the modern world. That's not an accident. It's a consequence.

View attachment 67385778

You can say that, but posting that graph doesn't explain why it might be Biden's fault.

 

[NatMorton]

After losing several thousand soldiers, we lost 13 soldiers during evacuation. I’m not really sure what fancy explanation is required for that.

As far as having both branches of government, that’s true only on paper. As you know, two of the dem senators completely torpedoed some of the most useful legislation that could’ve helped people during this time of crisis. Clearly, in practice, they did not have both houses of Congress.

"Look, I know we had numeric majorities in both Houses and control of the White house, but we really didn't have control ..."

That's going to play well come November, too.

 

[Eriech]

Of course, this ruins the Republican 'blame Biden' narrative, but Republicans never let the facts get in the way of effective propaganda.

Inflation began in 2021 as a result of the pandemic, with an aside to climate change, but the Russian war on Ukraine has created a perfect storm of inflation.

None of this can be blamed on Biden.



Press Conference by Secretary-General António Guterres at United Nations Headquarters

If food and fuel inflation is wordwide and not limited to the USA, that means Biden didn't cause it.

Biden is not functional enough to blame or credit for anything.

 

[NatMorton]

You can say that, but posting that graph doesn't explain why it might be Biden's fault.

Increasing the money supply by over 40% just might have had something to do with it.

 

[NatMorton]

Biden is not functional enough to blame or credit for anything.

Ouch.

 

[Peacenik]

Come this fall, I sincerely hope the Democrats run on this idea.

It's easier to sell a made up story than to go with the cold hard truth. That's why Republicans are so good at controlling the message. If limited to the truth, that's a narrow lane. When only limited by imagination, all things are possible.

 

[Peacenik]

Blame COVID. Blame climate change. Blame inadequate resources. Blame wealth inequality. Blame Putin. Blame corporate greed. Blame anybody and anything ... except, of course, Joe Biden and his policies.

Biden is doing a far better job than Trump would. Or any of the other most popular Republicans.

 

[Peacenik]

No, I'm counting on the Democrats looking foolish as they try to explain how they're not responsible for anything having been in complete charge of Washington for the last two calendar years. Inflation, crime surge, growing deficit, and the botched evacuation of Afghanistan are all going to require some fancy explaining, and I don't think they're up to it.

It has only been a year and 3 months. And Biden did walk into a pretty big mess left behind by the previous admin.

 

[Peacenik]

Yes, the Fed's easy money policies. They ignored their own long-standing inflation triggers and continued with both low rates and QE despite signs the economy was already well in recovery.

In short, both Washington and the Fed botched the recovery, and we've all started to pay the price for that, literally.

It's so easy to blame the fed. And quite popular, too. It is a populist position.

 

[noonereal]

Biden is not functional enough to blame or credit for anything.

Great post!