Inflation 👂👂📌📌
- Thread starter Kait24
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That's because Americans are completely ignorant about the powers of the presidency, and about economics. No. The president is NOT responsible for inflation! I've said that when Bush Jr. was president. When Obama was president. When Trump was president. And now with Biden.
The president has very little to do with inflation. And besides, this isn't inflation that we are seeing right now anyway. This is pure greed by the oil companies taking advantage of an event in Europe. That's all this is.
The president has very little to do with inflation. And besides, this isn't inflation that we are seeing right now anyway. This is pure greed by the oil companies taking advantage of an event in Europe. That's all this is.
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There are a multitude of factors involved, however, the policy of the president, the Fed, and the spending bills passed by Congress do have an impact on inflation.
1. Biden shutting down the pipeline and drilling in the US has caused our domestic production to decrease and caused us to once again import fossil fuel. That is inflationary.
2. Biden's policies concerning the pandemic have resulted in bottlenecks in the supply chain and that also is inflationary.
3. Biden's catastrophic exit from Afghanistan encouraged Putin to invade Ukraine. Not only so but his very clear signal that if Putin did invade he wouldn't do anything was also a very strong encouragement and finally his signal to Ukraine to join NATO was equivalent to begging Putin to invade. So if you want to credit Putin's invasion as being inflationary (and it certainly is) then yes, Biden bares responsibility for that.
4. Another impact of Biden's actions is that Russia, China, and Saudi Arabia have hammered out an agreement to sell oil with gold backed security. That will have a huge impact on inflation.
5. Biden has put sanctions on Russia that will be hugely inflationary causing the price of oil to go up and the cost of fertilizer to skyrocket and the cost of wheat to skyrocket.
6. Biden's corruption with his son which is now admitted by the NYT causes instability and uncertainty in the markets. The worst things for markets is "uncertainty". That is certainly Biden's fault.
7. Biden blew up Russia's banks, stock market and ruble, that is going to provoke a retaliation and that also will be inflationary.
8. We now have evidence of the US' hand in at least 3 bioweapons labs involved in designing bioweapons (Wuhan and two labs in the Ukraine). If evidence comes out that the US was involved in the pandemic you can be sure that 100 countries will attack us, probably not with weapons but economically. That will be inflationary.
9. Now add to this the irresponsible spending of Congress and that is certainly because Biden will rubber stamp whatever they do. That is inflationary.
10. The Fed has been irresponsible during this time. They could have come out saying if you pass these spending bills we'll raise interest rates. This also is a factor.
1. Biden shutting down the pipeline and drilling in the US has caused our domestic production to decrease and caused us to once again import fossil fuel. That is inflationary.
2. Biden's policies concerning the pandemic have resulted in bottlenecks in the supply chain and that also is inflationary.
3. Biden's catastrophic exit from Afghanistan encouraged Putin to invade Ukraine. Not only so but his very clear signal that if Putin did invade he wouldn't do anything was also a very strong encouragement and finally his signal to Ukraine to join NATO was equivalent to begging Putin to invade. So if you want to credit Putin's invasion as being inflationary (and it certainly is) then yes, Biden bares responsibility for that.
4. Another impact of Biden's actions is that Russia, China, and Saudi Arabia have hammered out an agreement to sell oil with gold backed security. That will have a huge impact on inflation.
5. Biden has put sanctions on Russia that will be hugely inflationary causing the price of oil to go up and the cost of fertilizer to skyrocket and the cost of wheat to skyrocket.
6. Biden's corruption with his son which is now admitted by the NYT causes instability and uncertainty in the markets. The worst things for markets is "uncertainty". That is certainly Biden's fault.
7. Biden blew up Russia's banks, stock market and ruble, that is going to provoke a retaliation and that also will be inflationary.
8. We now have evidence of the US' hand in at least 3 bioweapons labs involved in designing bioweapons (Wuhan and two labs in the Ukraine). If evidence comes out that the US was involved in the pandemic you can be sure that 100 countries will attack us, probably not with weapons but economically. That will be inflationary.
9. Now add to this the irresponsible spending of Congress and that is certainly because Biden will rubber stamp whatever they do. That is inflationary.
10. The Fed has been irresponsible during this time. They could have come out saying if you pass these spending bills we'll raise interest rates. This also is a factor.
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We are in a world market. If someone making $100,000 a year will "pay any price" what about the guy making $50,000, that person stops buying medicine, and then what about 93% of the world that makes less than $20,000 a year. For them if you food goes up by 40% they buy 40% less food.
15% of the world lives on $2 a day or less. If you make that little they will simply starve. That is approximately 1 billion people.
15% of the world lives on $2 a day or less. If you make that little they will simply starve. That is approximately 1 billion people.
Walgreens is rationing baby formula, Thailand has shut the banks down for the weekend, Sri Lanka and Peru are both experiencing food shortages, Shanghai is locked down, perhaps the biggest city in the world economically with 26 million people and they can't eat, the world's food price index is up 60% since 2020, the European price index is up 31%, and as long as we are already accusing Russia of war crimes they might as well go for broke.
The good news is that everyone is being very orderly and polite about the sinking of the world's economy the same way the people on the Titanic were very polite about the way they died.
The good news is that everyone is being very orderly and polite about the sinking of the world's economy the same way the people on the Titanic were very polite about the way they died.
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One currency at a time.
Yes, the US dollar is falling but at least we can celebrate the fact that Russia's ruble has recovered , oh wait, scratch that.
https://www.19fortyfive.com/2022/04/russias-ruble-is-stable-for-now-but-inflation-will-hurt-badly/
Yes, the US dollar is falling but at least we can celebrate the fact that Russia's ruble has recovered , oh wait, scratch that.
https://www.19fortyfive.com/2022/04/russias-ruble-is-stable-for-now-but-inflation-will-hurt-badly/