They spent about 5 trillion on the covid pandemic. That in itself is inflationary; The flipside is what would have happened without that spending? Debatable.
Along with global supply chain issues, increasing minimum wage, increasing energy and commodity costs. The cost is passed on to consumers.

We had about a decade of basically 0.5% central interest rates in the UK, after the 2008 financial crisis. This stored up a un-natural inflationary pressure on the economy.

The central bankers kicked the can down the road for a decade. Blame Biden if it fits the narrative, in reality he had very little control of that situation.

Inflation in the US in January 2022* stood at 7.5% while it only stood at 5.1% in the eurozone. Likewise, inflation in the US is now again higher than in the eurozone, and that's in spite of the ECB already having cut rates again months ago while the FED only did it last week.

Some degree of inflation was always inevitable, but there are multiple ways in which Biden exacerbated this surge of inflation.





* I pick this cutoff date since it's the last month before the fallout from the Ukraine war was felt, a fallout which hit Europe a lot harder than the US and thus skews the comparison.

This post was edited by Black XistenZ on Sep 25 2024 02:52am

What are the multiple ways?

The countries gdp Was the chart I was referring to And everyone pays higher taxes now in the middle class from Trumps bill . Obviously inflation is having a negative effect currently. His tax cut also adds to the deficient along with all of our stimulus packages. From the 3 rounds of Covid relief

Yea because every country managed that with no issues. Derp

- Cancelling pipelines and drilling permits right as he came into office; generally pushing the decarbonization agenda and signaling to the fossil industry that he wants them out of business sooner rather than later, thus stiffling investment in the industry. We cannot expect an oil company to invest in new oil rigs or refineries when their amortization period is 30 years, but politics is signaling that they want to end oil within the next 15...

- Overstimulus. The American Rescue Plan Act of 2021 threw another $1.9 trillion onto an economy which was already flush with cash but strapped for spending opportunities. This was obviously a recipe for inflation. And it was unnecessary; by March 2021, we were already getting a handle on the pandemic, the vaccination campaign was in full swing, summer was right around the corner etc.

- Economic sanctions. It was a mistake to react to Russia's invasion of Ukraine with an all-out economic war, and with energy sanctions in particular. This approach by the West (muted military response, aggressive economic sanctions) happened under the leadership of Biden, so he bears a fair share of the blame for its fallout.

- Not doing enough to alleviate supply chain issues at the tail end of covid. He could have repealed the Jones Act, to name just one example.

- Not reacting to the imminent surge of inflation quickly enough. Both the Biden/Harris admin and the Fed kept talking about inflation being "transitory" until it was too late. This necessitated far larger interest rate hikes than would have been needed otherwise.

- Oversaturating the housing market with his reckless border policies. It surely doesn't help when the resident population of the US grows by some 8 million illegal immigrants (on top of legal immigration and natural growth) over the span of less than 4 years.

- A continuously gigantic federal deficit which is funneling extra money into the economy:


Let's throw out the two covid years: which justification does the Biden/Harris admin have for still running a deficit in 2023 which is 70% higher than Trump's was in 2019?

This post was edited by Black XistenZ on Sep 25 2024 12:55pm

Holy shit lol

And just for the record: the Dispatch is a site founded and run by NeverTrumpers who hate Trump with fiery passion and are rooting for whoever his opponent is.

You can throw out the covid years but you can't throw out the effects of covid on the global economy, so that like of questioning is basically a non starter.
Disagree obviously on the reaction to the Russian invasion of Ukraine. If anything the reaction by Biden has benefits for the US economy.
And unless we're comfortable with Germany bankrolling the Kremlin war machine, which I understand many German people would support that idea to continue suckling cheap energy and allowing the German manufcaring sector to out compete on cost;
In reality that simply was not an option. And Scholz knew it.

Interesting post I'll look into some of these points. Is there a reliable source for there being 8million illegal migrants in 4 years?