If you don’t know this then you’re either not paying attention or don’t know how the government works
September 23, 2024
If you don’t know this then you’re either not paying attention or don’t know how the government works
https://i.redd.it/ddmrzk9pfjqd1.jpeg
by 4wordSOUL
27 comments
Most economically literate liberal
Most people don’t know how the government works.
No Presidential Campaign can ever truly take credit for economic success or failure. In the last 25 years, we can give all the credit and blame to the federal reserve for their meddling. The recent inflation is compounded low interest rates and QE for years following the housing crash mixed with extreme money printing over Covid. Look at the bigger picture folks and stop thinking we have elected heroes.
You mean the man who bankrupted a Casino sucks at tax reform?
I am almost shocked. Lol if your only claim to fame is not paying and suing people. You may not be the one that should control a nation..
Lol
Trump and his cult are all fucking morons at best or purposely fucking us at worst.
More folks should read:
A Crisis Wasted: Barack Obama’s Defining Decisions, by Reed Hundt, who worked on Obama’s transition team, and Firefighting: The Financial Crisis and Its Lessons, by Ben Bernanke, Tim Geithner, and Henry Paulson..
The American rescue plan was too much stimulus too late in the cycle. Supply was tight, labor was tight and neither could absorb the massive demand that late phase stimulus created.
So when Democrats are in office, it’s good. When Republicans are in office, it’s bad? That’s an incredibly convenient, easy to process narrative. Doesn’t make you have to do a whole lot of thinking, you know?
Are these all bot posts
Listen to “American Idiot” by Green Day. That’s 50% America.
As much as I dislike Trump I wouldn’t say the inflation is his fault. The Fed increased money supply by 30% and now prices are roughly 30% higher. This was mostly due to covid emergency spending, something out of Trump’s control. Basically any president would have had to approve that stimulus while nobody is working at home during a pandemic.
The OP purposely forgets to consider the global COVID crisis because OP is a political pariah. The office of the presidency doesn’t vote on fiscal policy. Nancy Pelops and chuck shumer were in charge of Congress and led the fiscal policy.
Lmao, actual disinformation.
Inflation was caused by printing money to cover COVID costs. That was done under Biden.
I literally just had a blow out with my family because they can commute this concept. It goes back so much in history that I just can’t understand how they don’t know this. It blows my actual mind
Global inflation isn’t Trump’s or Biden’s fault. It’s global-scale inflation, and the U.S. fared pretty well compared to other developed countries
*googles inflation chart pre-Biden and through his presidency*
Oh wow, 15 seconds using the google machine told me that this random, un-verified tweet is WRONG! No way!
But things were better four years ago /s
There’s truth in this, but, per most Reddit Econ posts, it is a gross oversimplification.
*If you don’t think like me then you’re stupid*
Both of these parties have off the rails spending problems
It’s racist to say covid19 came out of the Wuhan Coronavirus Lab but of course it’s all Trump’s fault.
I don’t understand how “a million people died on his watch”? Millions of people die every year.
To say he “crashed the economy” is a lie & doesn’t resonate with voters. We all remember the lockdowns & mandates. People were furloughed from their jobs & that counted as a job loss, when they came back to work it counted as a job again, which this administration strongly benefited strongly from. People without bias aren’t blaming Trump for the Covid job losses. You need a new message such as maybe pointing fingers at tariffs or something, but not this. This is an attempt at courting low information voters.
So it’s no longer corporate greed and price gouging that is hurting Americans and the economy?
27 comments
Most economically literate liberal
Most people don’t know how the government works.
No Presidential Campaign can ever truly take credit for economic success or failure. In the last 25 years, we can give all the credit and blame to the federal reserve for their meddling. The recent inflation is compounded low interest rates and QE for years following the housing crash mixed with extreme money printing over Covid. Look at the bigger picture folks and stop thinking we have elected heroes.
You mean the man who bankrupted a Casino sucks at tax reform?
I am almost shocked. Lol if your only claim to fame is not paying and suing people. You may not be the one that should control a nation..
Lol
Trump and his cult are all fucking morons at best or purposely fucking us at worst.
More folks should read:
A Crisis Wasted: Barack Obama’s Defining Decisions, by Reed Hundt, who worked on Obama’s transition team, and Firefighting: The Financial Crisis and Its Lessons, by Ben Bernanke, Tim Geithner, and Henry Paulson..
It’s true that Trump rode the post-2008 economic recovery. For example, the unemployment rate was on a steady decline from 2010 down to early 2020. ([S](https://fred.stlouisfed.org/series/UNRATE)ource) Real median household income started rising in 2014 (before Trump) as the unemployment rate continued dropping ([Source](https://fred.stlouisfed.org/series/MEHOINUSA672N)) GDP growth was pretty steady over that same period. ([Source](https://www.statista.com/statistics/188185/percent-change-from-preceding-period-in-real-gdp-in-the-us/)) So most of the good things happening in 2017-2020 were just continuations of what was already going on.
Inflation didn’t start from the Trump tax cuts though. The tax cut law was passed in 2017, but we didn’t see any significant rise in inflation until March 2021 (S[ource](https://www.bls.gov/charts/consumer-price-index/consumer-price-index-by-category-line-chart.htm)). Clearly it was because of COVID, not the tax cuts.
The American rescue plan was too much stimulus too late in the cycle. Supply was tight, labor was tight and neither could absorb the massive demand that late phase stimulus created.
So when Democrats are in office, it’s good. When Republicans are in office, it’s bad? That’s an incredibly convenient, easy to process narrative. Doesn’t make you have to do a whole lot of thinking, you know?
Are these all bot posts
Listen to “American Idiot” by Green Day. That’s 50% America.
As much as I dislike Trump I wouldn’t say the inflation is his fault. The Fed increased money supply by 30% and now prices are roughly 30% higher. This was mostly due to covid emergency spending, something out of Trump’s control. Basically any president would have had to approve that stimulus while nobody is working at home during a pandemic.
The OP purposely forgets to consider the global COVID crisis because OP is a political pariah.
The office of the presidency doesn’t vote on fiscal policy. Nancy Pelops and chuck shumer were in charge of Congress and led the fiscal policy.
Lmao, actual disinformation.
Inflation was caused by printing money to cover COVID costs. That was done under Biden.
I literally just had a blow out with my family because they can commute this concept. It goes back so much in history that I just can’t understand how they don’t know this. It blows my actual mind
Global inflation isn’t Trump’s or Biden’s fault. It’s global-scale inflation, and the U.S. fared pretty well compared to other developed countries
*googles inflation chart pre-Biden and through his presidency*
Oh wow, 15 seconds using the google machine told me that this random, un-verified tweet is WRONG! No way!
But things were better four years ago /s
There’s truth in this, but, per most Reddit Econ posts, it is a gross oversimplification.
*If you don’t think like me then you’re stupid*
Both of these parties have off the rails spending problems
It’s racist to say covid19 came out of the Wuhan Coronavirus Lab but of course it’s all Trump’s fault.
I don’t understand how “a million people died on his watch”? Millions of people die every year.
To say he “crashed the economy” is a lie & doesn’t resonate with voters. We all remember the lockdowns & mandates. People were furloughed from their jobs & that counted as a job loss, when they came back to work it counted as a job again, which this administration strongly benefited strongly from. People without bias aren’t blaming Trump for the Covid job losses. You need a new message such as maybe pointing fingers at tariffs or something, but not this. This is an attempt at courting low information voters.
So it’s no longer corporate greed and price gouging that is hurting Americans and the economy?