What happened in 2021, huh?
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Aka, Grandpa’s blog … An emotional purgative for our world's cultural excesses.
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Baron Trump, Donald Trump’s youngest son is six feet, seven inches tall. STAND UP FOR A LONG DRINK OF WATER!
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15 comments:
umm.. a PanGlobal pandemic. Remember that?
Please ‘splain how the pandemic caused inflation in 2021 but not in 2020?
Global supply chain disruption. Russian oil and gas stopped flowing to Europe. People sheltering at home forced many dining and entertainment/sports businesses to cut back or fold.
Also trump’s deal with the Saudis to cut back oil production to boost the price of oil and gas.
You are grasping at straws. Trump had many of these issues in 2020, but look at his numbers. Biden’s punishing our own fossil fuel industry and adding a boatload of regulations had nothing to do with raging inflation? Get real, And you have not a shred of evidence of a Saudi-Trump deal!
Grasping at straws? Were you on another planet while COVID and Putin raged?
Your reference date was April, 2020 … when Trump was in office. It was not an attempt to damage Biden or cause inflation as you implied.
you are the stats guy. If it happened in April 2020, that YOY is to April 2019. The drop is not realized in YOY until April 2021.
Yet, the whole rest of 2020 … 9 months … showed no adverse effect? Stop scraping for rationalizations to justify supporting an imbecile … And look at the chart again … it’s not YOY numbers …
Chillfin: Meanwhile real wages (average hourly earnings) recorded 11th straight month of decline on a YoY basis, which is worrisome. Source: Bloomberg via ZeroHedge
However one needs to keep in mind that these inflation numbers are from February, before any real sanctions had any effect on prices. Before Russia attacked Ukraine many economists expected that inflation would reach its peak in March, however due to ongoing geopolitical tensions, supply constraints, strong demand, and labour shortages, many believe that inflation may be heading towards 9.0% in March and remain elevated for longer, therefore putting more pressure on FED.
The Fed increased its balance sheet by $4 trillion in Biden’s first 2 years to finance his firehouse spending, Look no further tan than for why inflation took hold.
Chillfin: seems that Trump’s 6.6T add to the debt would have fueled inflation
Please recheck your numbers. You are high by well over $4T.
At the end of fiscal year 2020, the debt was $26.9 trillion. Trump added $6.7 trillion to the debt between fiscal year 2017 and fiscal year 2020, a 33.1% increase.
--https://www.thebalancemoney.com/us-debt-by-president-by-dollar-and-percent-3306296
and
--https://www.investopedia.com/us-debt-by-president-dollar-and-percentage-7371225
OK, you are right. I was thinking about the Fed’s balance sheet growth … not exactly the same thing exactly … which has exploded under Biden (https://www.statista.com/statistics/1121448/fed-balance-sheet-timeline/ ). However, although Trump grew our debt by $6.6T in 4 years … much due to the pandemic spending … Biden has added $4.5T in just 2 years … mostly NOT pandemic spending. And NOT the $1.8T reduction he has repeatedly claimed.
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