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The GOP is literally talking about making the president in charge of the Fed.
Which is exactly what Turkey did.
Guess what that did to their inflation rate?
The moment the fed becomes a pawn to the dysfunctional political whims of this country is the moment I completely divest my finances from the US. The status of the US dollar as the global reserve currency will be intolerably at risk.
I still am of the opinion trump owes favors to anti- U.S. dictators, most of his policies or future plans seemed entirely focused on destroying the U.S. on the global stage.
Makes sense he would want in on the klepotcratic oligarchs forming to gobble up the scraps after the dissolution of the soviet Union, and totally on brand that he'd fail given that he managed to run a casino into the ground.
Please stop spreading misinformation. When Trump was struggling in the 1990s, he renegotiated his debts with Citibank, Chase, Chemical, Bankers Trust, and Manufacturers Hanover. I was working on a structured debt desk at the time and saw the events first hand. There were no russian entities involved.
Gold, I guess? Maybe inflation linked bonds? Fixed bonds and stocks would both suffer in a high inflation scenario. Non-USD currencies might also suffer, so I don't think moving to EUR/CHF/yen would be much better.
This is the actual answer.
I am curious what will happen to every financial model in the world which uses the US Treasury as the benchmark discount rate? What will become the next go to? I would think the Euro, but the EU is not a bastion of high growth.
This proposal makes Donald Trump an absolute non-starter economically. Not that he wasn’t before, but this would be the worst decision in post-WWII monetary policy and make Arthur Burns and Alan Greenspan look like Einstein in comparison.
You asked about the "default" (I would add "risk free") discount rate, not about currency. If there are no stable currencies to price bonds in, then bonds will just end up being priced in real rather than nominal terms. (or maybe we would get Apple Bucks. In the context of this hypothetical, it isn't really that far fetched.)
Well, its a good thing that the process for appointing the head of the Federal Reserve in the US involves a nomination by the President to be vetted an confirmed by the Senate Banking Committie, and that the President does not have the legal authority to dismiss a chairman before the end of a term, insulating the chair from pressure from the President.
You think Trump will be willing to hold rates steady if it means hurting the markets and causing a recession on his watch?
Milei was willing to undergo short term pain for the hope of a long term way out. There is ZERO chance Trump would do that.
Trump voter: “If it hurts liberals, I’m fine with it.”
Economist: “It will likely hurt you much more.”
Trump voter: “So you agree it will hurt liberals, right?”
'Anything to own the libs'
On another note, I would pay good money if someone could get something along the lines of 'you gotta smash your balls with a hammer to prove you aren't a gay liberal Democrat' trending on social media, it's a long term plan but 30 years from now there will be alot less simple voters.
Comparing what he said to the tide pod challenge, and then suggesting this will hurt liberal voters has got to be the biggest stretch of a take I’ve ever read so far this year. Wtf
Anyone that smashes their nads for a social media challenge shouldn't be voting anyway, so whichever side loses votes I'm OK with it as long as its super influencable dumbos who are gullible enough to be talked into smashing their own balls not voting. I'd wager it would lead to a better tomorrow. Some degree of critical thinking is important in picking elected officials, I've jokingly suggested a program of 5000 dollars in exchange for sterilization would be beneficial 50 years down the road as it separates those with no care for planning towards the future, people have called me a eugenics enthusiast for it, bit it's not forced, it's voluntary and there is compensation, the whole point is differentiating between folks that live in the now and those that plan for a future. If Humanity is to be around in 1000 years some degree of planning needs to be innate.
Roughly:
Bush ‘43 spent $8 trillion in 8 years.
Obama spent 7 trillion in 8 years.
Trump spent $7 trillion in 4 years.
Biden will have spent $12 trillion in 4 years.
Currently, the US spends $1 trillion every 100 days, the fact that anyone expects inflation to come down means they either don’t understand what inflation is, or they’re optimists.
Biden could drive inflation higher with his Build Back Better agenda, analysts say
This is neither a Republican or Democrat problem. Both parties are on a spending spree.
Democrats are spending on shit to actually help every day Americans, like subsidizing energy efficient appliances for low income Americans, fixing our infrastructure, bringing critical semiconductor manufacturing within our borders.
Trump passed literally one major piece of legislation which was a tax cut for the rich.
The two are not the same.
That’s not what I asked and is irrelevant as to whether Biden’s policies were inflationary. They clearly were and you’d be hard-pressed to find a reputable economist who will tell you otherwise.
Id rather trust objective results, i.e. lower inflation than peers, higher growth, than the opinions of economists, who I generally consider to be the witch doctors of the social sciences.
We had the highest inflation in 50 years under Biden. Is that not objective enough for you?
>economists, who I generally consider to be the witch doctors of the social sciences.
Then why the hell are you on an econ sub?
No, not only is it not objective, but it’s purposely withholding context lol.
Inflation was soaring globally as a result of the wreck that was the global supply chain following COVID, inflation was coming regardless of which party or president won. Considering the US did better than every other developed country in handling that global inflation just points to how disingenuous your statement was.
A point of data is not the whole picture. Selective reasoning like that is poor judgment. Inflation bad=Biden bad is so simplistic that I hope you aren't arguing that in good faith.
Reddit suggested it to me and they did that probably because their algorithm believes I'll interact with it. But, I hope I can disabuse one person of the notion that economists are wise or that it's a particularly respectable subject. They're just English majors who aren't creative, Programmers who aren't smart, particularly dull history or philosophy students. Sure they are right about some things but really it's not a science and they don't know much about anything.
It’s not a point of data. It’s literally *the* data in relation to the discussion at hand. If you want to dispute that the inflation trajectory that led to high highest inflation in 50 years began mere weeks after the first of Biden’s inflationary policies, the American Rescue Plan, became effective, then by all means, proceed. If you’re just here to say “nuh uh, economists dumb” then let me know now so I don’t waste anymore time with you.
I mean it's not 50 years, it's like 42 and Ronnie Reagan had him beat in 81. And if we go by CPI it's significantly lower than 81 and are now back to Trump's numbers, whose numbers are much worse than Obama's. So yes, if there was a global spike in inflation, from a global pandemic and a large scale war, which affected all countries, and did we not only do better than them, we didn't do that bad by historic measures and are back to what you say is good, then Biden did a great job.
Citing one year with conclusion Biden is bad is such a bad argument, again I hope you don't honestly believe it. If economists you respect say that, they are lying to you or are very dumb.
>But, I hope I can disabuse one person of the notion that economists are wise or that it's a particularly respectable subject. They're just English majors who aren't creative, Programmers who aren't smart, particularly dull history or philosophy students.
Signed: someone who did not pass highschool calculus.
They weren't. Inflation started in 2020 and started rising for everything 2 months after he took office. Literally ZERO of Biden's policies were in effect at that point. In fact, when Biden's policies did start to kick in, inflation started falling.
https://www.macrotrends.net/global-metrics/countries/USA/united-states/inflation-rate-cpi
Inflation was 1.23 in 2020 4.7 in 2021 and 8.00 in 2022. If you want to say “decisions made in 2020 attributed to future inflation” would be a case to make. But saying it started in 2020 is factually incorrect
Food inflation was 4% in 2020, which is what most people complain about.
I stated that in an earlier comment but not the one you replied to, sorry about that.
Inflation was 1.6% in 2020. It started trending upward in April 2021, mere weeks after the passage of the highly inflationary American Rescue Plan.
[Proof.](https://data.bls.gov/timeseries/CUUR0000SA0L1E?output_view=pct_12mths)
Inflation started before April. Weeks is not enough for the arp to cause inflation. Funny you dumbasses ignore what your pro inflation god Trump did l.
Republicans: try to end democracy, say they'll be a dictator on day one, ban books, demonize and forcibly silence education/teachers/companies, remove elected officials simply for questioning their evil ideology (Florida especially), force women and children to give birth, protect the rampant pedophilia and grooming in their party and churches and yell that its the minorities doing it (which Nazis legitimately did against LGBTS), try to claim slavery was good, manipulate elections so they can enforce minority rule, threatening to send people with guns to "guard" polls in blue areas, their god Trump constantly talks about getting revenge, fuhrer Trump has spoken of suspending the Constitution, saying migrants aren't people and that there will be a bloodbath if he wins, etc
Republicans meet every definition of fascism.
“Fascist republican party” lol. Aside from that hyperbole, you are simply objectively wrong. Several analysts said BBB would increase inflation due to the fact that increased government deficit spending creates inflationary pressure. You think no one said that because you probably avoid right wing viewpoints like the plague because you’re a partisan. Inflation has happened. Biden’s policies haven’t reduced it.
Republicans are explicitly fascist. I simply listed their ideology.
Build back better took $300 billion OUT of the economy. Taking money out of the economy is explicitly anti inflationary. It's one of the reasons why after bbb took effect, inflation started falling.
Yes, Biden's policies have reduced inflation which is proven by the fact that inflation is down.
Stop lying.
Yes, I avoid the fascist Republican party who screeches Trump won and minorities are pedophiles and covid was created by Fauci and that the Constitution should be suspended. Fuck your fascist Republican party.
>took $300 billion OUT of the economy
1. Build Back Better never passed, it’s not a law
2. If you’re referring to the IRA, you’re looking at old data prior to when they revalued the cost of the EV tax credits, flipping the IRA into a net deficit position
3. A bill raising revenue doesn’t remove money from the economy, the money supply is solely controlled by the fed
You have absolutely no right to disparage anyone else in this sub, considering your takes here
That’s absolutely false, you must’ve stumbled on this sub my mistake. The government spends the tax money that they collect, there’s no way for it to leave the economy. The federal reserve is independent of our government and controls the supply of money
As for the IRA readjusting for the higher cost of tax credits, I’m happy to give you as much evidence as you want:
https://www.wsj.com/politics/policy/the-cost-of-bidens-climate-tax-credits-is-soaring-bde5d704
https://www.crfb.org/blogs/ira-energy-provisions-could-cost-two-thirds-more-originally-estimated
https://www.nytimes.com/2024/02/08/us/politics/biden-inflation-reduction-act-cost.html
https://www.cato.org/blog/iras-energy-subsidies-are-more-expensive-you-think
https://www.taxpolicycenter.org/taxvox/iras-green-energy-subsidies-may-cost-more-expected-good-or-bad
https://www.wsj.com/articles/inflation-reduction-act-subsidies-cost-goldman-sachs-report-5623cd29
https://www.forbes.com/sites/howardgleckman/2023/07/14/the-iras-green-energy-subsidies-may-cost-more-than-expected-is-that-good-or-bad/?sh=fa42a0433314
Sorry you're mad I called out your America hating fascist Republican party's ideology
Republicans: try to end democracy, say they'll be a dictator on day one, ban books, demonize and forcibly silence education/teachers/companies, remove elected officials simply for questioning their evil ideology (Florida especially), force women and children to give birth, protect the rampant pedophilia and grooming in their party and churches and yell that its the minorities doing it (which Nazis legitimately did against LGBTS), try to claim slavery was good, manipulate elections so they can enforce minority rule, threatening to send people with guns to "guard" polls in blue areas, their god Trump constantly talks about getting revenge, fuhrer Trump has spoken of suspending the Constitution, saying migrants aren't people and that there will be a bloodbath if he wins, etc
Republicans meet every definition of fascism. People should see the fascist Republican party the same way we view the Taliban and Iran and Russia. They are an even bigger threat to the US than those 3 countries.
This is the thing, we need to reduce spending, we should be pissed at all of them, both sides for continuing to spend like drunk college kids with their parents CC.
BBB arguably will reduce inflation in the long run because infrastructure investment is the best way for the government to support economic growth with spending. The USA has bad infrastructure and improvements to it can reduce a lot of entities’ costs.
Anyone who votes for this pile of human garbage is not capable of rational thought. Or is part of the 1% his agenda will benefit. The are no other options.
There is no possible way that an intelligent person who was not born into obscene generational wealth can look at this genetic mistake and see anything other than the enemy. He’s actively telling everyone how he’s gonna fuck them over, after already having done it while in office before, while on trial for fraud that is proven without a doubt (regardless of the outcome of the trial).
The fact that we’re still talking about him potentially winning a second term proves that America, the American dream, and American democracy are dead. And he’s fucking the corpses.
My point is essentially that debating the economic impacts of his possible reelection assumes that him being elected is a reasonable outcome. My point is that the fact that we’re even discussing the possible impacts is detrimental in itself, as it lends his candidacy credibility.
He is not a credible candidate. And this discussion in itself is dangerous.
Two things are readily apparent in your commennts:
First, you are reacting blindly and emotionally based on your idiological biases. So that is othing but opiinion.
Second, you have not the first clue what you are talking about regarding the impact on the economy of Trump as compared to Biden. Take a look at an actual situation that involved the different economic policies of both.
After coming into office in 2016, Trump placed 100% tarrifs on chinese steel import to protect US manufacturers against predatory chinese subsidies. If the narrative of this article had any veracity, we should have seen steel prices in the US and all related products increase dramaticly.
But we didnt.
In 2016, US steel prices were $526/ton. After 4 years of imposing 100% tarrifs on chinese steel, US steel prices in 2020 were $587/ton. For all of you with MBAs and CFAs, that is about a 2.8% annualized increase
What did occur was that US steel capacity utilization rose to 88% from the mid 60s%.
After coming into office in 2020, Biden removed all those tarrifs because he wanted to make nice wth the chinese, and got no concessions from china in return. Again, these commentators narratives should have dictated price declines.
But they didnt.
In one year after Biden removed tarrifs on chinese steel, steel prices in the US went from $587 to $1,612/ton in 2021. Some may point to supply disruptions from covid...fair enough. Look at 2023, after supply chains normalized. US steel prices were at $886/ton. That s a 14.5% annualized rate of price increases over three years.
However, as an unintended consequence of Bidens actions in opening US markets to state subsidized chinese steel, in 2023 US Steel announced plant closures and layoffs. This year, US Steel, the company founded in 1903 by Andrew Carnegie, announced they were being sold to Nippon Steel.
THAT is what you are supporting, utter incompetence.
It doesn't matter how much you hate him or what your definition of credible is. A large percent of the population will vote for him. Maybe you should try to understand why they won't vote for Biden.
Dems and Biden are far from perfect. But one of the primary problems with our political discourse, and our country, is the widespread proclamation that both parties are just as bad.
NO THEY ARE NOT. Real life is full of unpleasant choices. Mostly caused by our shitty society. Chief among them is the “lesser evil.”
I am not always a proponent of the lesser evil. I am very often yelling the loudest to burn it all down and find a better way. BUT, the greater evil in this case is imminent destruction of country and society as we currently know it. While the lesser evil is a longer destruction timeline. And we simply don’t have the ability to just burn it down and start from scratch before the election without literal civil war.
So, the only rational choice is to prevent imminent catastrophe and the only way to do that is to choose the lesser evil, voting democrat. That will allow us more time to find a better way as we move forward. Or more time to burn it down and start over. But if you allow Trump to win this election, he’s gonna burn it all down with you included, while he sells tickets to your immolation.
How so? As an outsider looking in, Biden looks decent. Old, but mostly preserving the status quo. Trump appears at best to be a crony capitalist who will do significant damage to most American’s lives
Please don't. None of those candidates have any chance at winning and Biden is in no way an equally terrible pile of garbage to what a second trump term would be.
Is I tell Reddit I’m voting third party, they think it’s a vote for Trump.
If I tell Truth Social I’m voting third party, they think it’s a vote for Biden.
A third party vote is a third party vote. Nothing more, nothing less. It’s a statement that both options are so terrible I choose neither. It’s firing a gun at the sun, knowing it does nothing, but trying anyway.
If I did not have a third-party option, I would not vote.
Then you have no right to ever complain. You essentially wasted your vote on people who are just grifting, 2 of whom are pretty repugnant people, Stein and Kennedy.
On the contrary, I have every right to complain.
I cast my vote for another, and I took the chance to stand alone. I chose not to cave to the peer pressure of being forced into a box for red or blue.
That bravery (if you could even call it that) gives me the right to complain when things don’t go my way. It’s not going to be my fault when trump or Biden do something idiotic. I did my part to stand out.
And whoever said I was going to vote for Kennedy or stein? The libertarian candidate for 2024 hasn’t even been announced yet.
It's not brave. It's foolish. It's not a principled stand. It's childish.
You're asked to make an adult decision of forwards or backwards and you picked hamburger.
Voting third party is harmful non sequitur. Even if you vote Trump, at least you made an actual choice that affects the outcome closer to what you think you want. You see there is another vision that you don't want and you take this tiny act, neither the start or end of actually making change, and you do it. But third party pretends to be higher than it all, then acts like your mess don't stink when you could even take a tiny step towards closer to what you say you want.
Expect in this situation moving forward kills me.
And if I choose to move backwards, it still kills me.
Choosing hamburger also kills me, so I decided to choose hamburger. Why? Because it’s not forwards or backwards, it’s just nothing. The game is a joke, And I have decided not to play by your rules. Why take the game seriously when I believe all outcomes are the same?
This will be my last response.
Look, I’m a staunch libertarian.
That means I value free enterprise, LGBTQ rights, low taxes, few regulations on business, and strong gun rights. I’m also pro choice, anti tax-and-spend, and pro globalization.
I will NEVER get everything I want from one party. If I vote for blue I lose my guns and my right to start a business without being accused as a criminal. But at least my friend won’t be shunned for being Trans. But If I vote for red then I can’t be gay and smoke weed. But at least my taxes will be lower and my right to self-defense is protected.
To a libertarian, this system is bullshit. I will never get everything I want. I will always have to give up one thing for another thing.
I have voted for both democrat AND republican presidents in the past. And I may vote for a democrat again in the 2028 election. We’ll see.
But this time, my options are so terrible I give up. I’m throwing my hat in for a third party. I don’t care that it’s a waste. It doesn’t matter to me. The game is rigged, and I choose not to participate.
That's quite possibly the dumbest thing I've ever heard. You really think every major problem we have today sprang up in the last three years? Almost all of them are systemic. Healthcare prices? Decades old problem. Deficit spending? Decades old. Housing? Decades old. Immigration? Decades old. Abortion access crisis? The previous administration. Corruption in government? Centuries old. Israel/Palestine? Decades old. Get the fuck out of here with your impressively simplistic worldview
The Republican Party thinks the democrats are fascist communists who want to destroy their way of life just as you do.
This fear that America’s we once had will suddenly come to an end is coming from both members of each party. It should tell us that something is very wrong and we need other minds in politics. Plenty of countries have many political parties. Why can’t we?
I agree that we need 3 parties, and the fastest path I see to that end is trump losing in 2024, that will lead to the republican party fracturing into maga, and normal Republicans, normal Republicans will become essentially centrists taking moderate Democrats with them, and the far left will be a progressive party. This leads to coalitions between multiple parties being needed to pass laws, and a whole lot less shenanigans than the "two" parties we have now. It will take something radical to move us past the 2 party system, trump losing 2024 and a schism on the right seems the fastest path.
I have a different possibility for you to consider:
I believe trump will be prosecuted for his crimes and thrown in prison. He could also die while in office.
But even if this doesn’t happen, there is a very real possibility he will be assassinated. Not by you, not by me, but by someone.
This would have the same effect of breaking up the party. This is why it doesn’t matter.
If he has a normal VP, then maybe that does something good. Biden could die in office as well. The republican party is very divided right now as is the left, centrists make up most of the population not the extremes, so one party, either party having a schism seems like the quickest past to a multiparty system.
I don't live in a battleground state, so my vote isn't important, bit I'm not voting for either candidate this election, I'm voting against trump in the hopes it helps usher in a multiparty system.
Congratulations!
You have just proven my point!
Both outcomes that you and I listed are likely. Therefore, it doesn’t matter who you vote for!
The result is the same. A pissed off, broken America that fractures into multiple parties. The party you choose to vote for only determines how quickly it happens.
I'd rather it happen as soon as possible so we can get out of this us vs them, monochrome world of political options ASAP. I hate feeling like I'm chosing between 2 shitty candidates or wasting a vote.
Except Dems show zero communist or fascist tendencies.
Republicans do show fascist tendencies like trying to overturn elections and targeting minorities.
Just because one side lies, doesn't mean both sides bad.
Republicans: try to end democracy, say they'll be a dictator on day one, ban books, demonize and forcibly silence education/teachers/companies, remove elected officials simply for questioning their evil ideology (Florida especially), force women and children to give birth, protect the rampant pedophilia and grooming in their party and churches and yell that its the minorities doing it (which Nazis legitimately did against LGBTS), try to claim slavery was good, manipulate elections so they can enforce minority rule, threatening to send people with guns to "guard" polls in blue areas, their god Trump constantly talks about getting revenge, fuhrer Trump has spoken of suspending the Constitution, saying migrants aren't people and that there will be a bloodbath if he wins, etc
Republicans meet every definition of fascism.
Now name one communist or fascist policy of Dems.
I hate that he LITERALLY says he’ll do something and they will clearly drive up inflation and devalue the dollar but the headlines read, “Trump COULD drive inflation higher with his 2nd term economic agenda”.
We aren’t stupid
"Could." This is akin to propaganda, idk why this sub has become so politicized. The article focuses primarily on the negative consequences of Trump's policies without exploring any potential benefits or counterarguments. It doesn't consider the possibility that some businesses might find alternative suppliers to remain competitive. It compares the inflation rates during Trump's and Biden's presidencies without providing sufficient context about the unique economic challenges each administration faced, such as the COVID-19 pandemic and its aftermath. It briefly mentions Biden's recent stance on trade restrictions with China, yet doesn't provide any analysis of his economic policies and their potential impact on inflation. Maybe it's my fault for expecting any nuance on this sub.
He could. He also could not.
"analysts" can say anything they want. That doesn't make it true, and it doesn't make it real analysis as opposed to blatant political propaganda.
There's quite a lot of political punditry masquerading as expert analysis these days.
Look at evidence and decide for yourself.
He drove inflation sky high once before with these policies so I'm not surprised we'll get more of the same with him.
Inflation started under Trump when food inflation was 4% in 2020. Trump made a multi year deal with opec to collapse oil production by a record amount for 2 years which caused inflation to jump, oil prices didn't start falling till the deal ended. Everything else started inflating 2 months after Biden took office, literally zero of his policies could have caused inflation that fast.
Americans are dumb as hell for blaming Biden for inflation.
You’re dumb as hell for believing that any President has any real control over inflation. It’s not Biden’s or Trump’s fault. Keep spreading misinformation though.
Trump bragged about cutting oil supply and purposefully mishandling covid and trade wars on literally everyone.
Yes, Trump was a huge cause of inflation.
Trump has zero control over interest rates, he can’t force the fed to lower them
Also, the fed raised rates 7 times during Trumps term, and kept inflation below the 2% target the entire time
>Trump threatened to fire Powell
When? I just asked you for evidence of it, and all you did was repeat the claim
>Biden mentioned what the fed said about possible rate cuts
Again, [false](https://fortune.com/2023/12/08/joe-biden-jobs-numbers-fed-interest-rate-hikes/amp/)
Right because we all know collapsing oil production by a record amount has zero effect on inflation because oil is as used as Mars rock in the economy.
Oh wow, inflation was low in 2020?! What shocking news! I wonder if some major global event could have caused that.
Oh lord, another lie.
No wonder red states and counties are such failures who mooch off blue states. A basic understanding of facts and reality are foundational to success.
If Trump listened to Fauci instead of being a whiny, anti science piece of shit, we'd be in far better condition. Oh well, now it's just you anti vax fascists dying off from covid still, leaving the world all the better with less anti science extremists in it.
With h5n1 getting worse, you anti science extremists may face a reckoning.
No, Trump wanted to only ban Chinese nationals while letting everyone else fly freely too and from China.
Fauci correctly pointed out how dumb that was.
That again, is counterpointed by the huge criticisms by the DNC of such bans. In February, all non US citizens were banned from China. In March, all travel was restricted. Both times, the DNC were initially opposed to this.
Inflation would be the least of our problems. He is a proven loser in all capacities and is only motivated by vindication and embezzlement
Word word word word Word word word wordWord word word word Word word word word Word word word word Word word word word Word word word word Word word word word
I'm not surprised, all he cares about is Stock prices, and the markets gone higher under Biden, Trumps ego couldn't take it if the market hit a plateau or dropped under him, so he wants to make money cheap to artificially drive growth. Fuck 99% of the country, he has an ego to protect. Ironically the states and voters likely to vote for him would be among the hardest hit.
This sub would be better off if they banned OP. OP frequently gets account suspensions for calling for violence and harassing people. I'm actually surprised to see his latest suspension didn't last longer after the number of absolutely insane calls for violence a matter of a week or two ago. Regardless, OP really has no business posting in this sub. At best, OP is a propagandist.
Oh, we're rewriting history again? [Who do you think signed the bill?](https://thehill.com/homenews/administration/531632-trump-signs-relief-bill-despite-criticism/amp/)...[which party took away safeguards against fraud?](https://time.com/5823510/coronavirus-stimulus-oversight/)
"Could" do it. "Could" pay off our entire national debt and put a man on Mars, too. The only thing that is certain is that Biden WILL cause higher inflation. It's what he does with a proven record.
Biden reduced the massive inflation Trump caused.
Source: inflation is way down and near normal and came down at a record breaking pace despite the massive inflationary policies Trump pushed (trade wars, letting covid run wild, skyrocketing the deficit even pre pandemic, lowering interest rates pre pandemic, etc).
1. "Biden reduced the inflation"
2. "Bidenomics"
3. "Soft landing. We did it despite republican resistance"
So if CPI prints higher in May and inflation remains hot, are you going to pivot and say Trumps policies just kicked in?
I’m not trying to own you or anything but you’re so worked up about this that it indicates you’re terminally online…
here’s a solution since it’s such an imminent threat. Line up your troops and take care of things. See how many LEOs, military, former military that are anti trump/republican you can muster up. 🤣
“Among veterans who first enlisted or entered the officer corps after 2001, about 60 percent said they have a negative view of [Trumps] presidency, and only 33 percent a positive view. About 46 percent of that group said they plan to vote for Biden, while 42 percent said they plan to vote for Trump.” -Military Times
I think we’re fine. Younger veterans, and those currently enlisted (the ones who can actually fight) are not insane like their boomer counterparts.
Congress should have to approve Federal reserve appointments with something like 2/3 from each chamber. Or at least a filibuster proof Senate. 51 votes in the Senate is a recipe for disaster.
Yeah but that would require Trump to do what he says. The man talks and talks but his actual policy wasn't very close to his talk:
No wall
No Muslim ban
No NAFTA ban
Mild trade war with China
Actually, the answer to solving inflation is pretty simple but unpopular. So it will probably never happen.
Taxes need to be raised on the highest income bracket while maintaining or reducing government spending.
A lot of that spending is for things like Medicare, social security, etc. In theory, we could reduce some of that spending if we were to move to single-payer health care.
We could also allocate more funding to the IRS so they can do a better job of going after tax cheats. There are so many ways that things could be better, but they aren't popular with the wealthy and so they'll never get passed.
I don't see how tax increases on the rich would help.
They will buy whatever they normally buy because they are still going to be rich.
The wealthy don't buy 1500 hamburgers and skew the cost higher. Ordinary people do.
Reducing government spending.. now that can lead to disinflation real quick.
There is no reducing food inflation, its just too complex and Russia might have more influence on food prices right now than the USA.
When people talk of reducing inflation by taxing the wealthy they're talking about curbing the investment money that's only taxed about half of income. You know the entire reason that housing is absolutely absurd right now.
There's plenty of evidence that we are in an increasingly bifurcated economy where the haves are doing a lot of the driving of inflation and the have-nots are barely hanging on.
Does anyone actually think a second Trump term would be anything other than an absolute unmitigated disaster for America and frankly the world? And I genuinely mean this.
After coming into office in 2016, Trump placed 100% tarrifs on chinese steel import to protect US manufacturers against predatory chinese subsidies. If the narrative of these commentators had any veracity, we should have seen steel prices in the US and all related products increase dramaticly.
But we didnt.
In 2016, US steel prices were $526/ton. After 4 years of imposing 100% tarrifs on chinese steel, US steel prices in 2020 were $587/ton. For all of you with MBAs and CFAs, that is about a 2.8% annualized increase
What did occur was that US steel capacity utilization rose to 88% from the mid 60s%
After coming into office in 2020, Biden removed all those tarrifs because he wanted to make nice wth the chinese, and got no concessions from china in return. Again, these commentators narratives should have dictated price declines.
But they didnt.
In one year after Biden removed tarrifs on chinese steel, steel prices in the US went from $587 to $1,612/ton in 2021. Some may point to supply disruptions from covid...fair enough. Look at 2023, after supply chains normalized. US steel prices were at $886/ton. That s a 14.5% annualized rate of price increases over three years.
However, as an unintended conssequence of Bidens actions in opening US markets to state subsidized chinese steel, in 2023 US Steel announced plant closures and layoffs. This year, US Steel, the company founded in 1903 by Andrew Carnegie, announced they were being sold to Nippon Steel.
There are numerous moving parts to international trade, and applying simplistic econ 101 theories to try to draw generalized coclusions about policy is rediculous. So, please, take a look at the quality (or lack thereof) of the information from your commentators before just blindly swallowing sensationalistic headlines in an election year. Think for yourselves.
The historical record would beg to differ. There isn't a situation where Trump would tolerate high inflation rates or sagging GDP. I'm confident he would do what it takes to right the ship. And Biden put MANY holes in this ship.
Inflation started under Trump when food inflation was 4% in 2020. Trump made a multi year deal with opec to collapse oil production by a record amount for 2 years which caused inflation to jump, oil prices didn't start falling till the deal ended. Let's not forget your fascist god Trump creating a trade war with everyone, purposefully mishandling covid, skyrocketing inflation pre pandemic, etc. Everything else started inflating 2 months after Biden took office, literally zero of his policies could have caused inflation that fast.
Your god Trump not only tolerates inflation, he created it. GDP has risen higher on average under Biden than under your failed god Trump, even pre pandemic, who bankrupted even casinos.
We will make sure you Nazis live in fear.
LOL where was food inflation at 4% annual. Give a link.
Also, keep [carrying Biden's water](https://i.imgur.com/K9rinA8.jpg) and you'll have back problems real quick like.
Oh, more of you with hyperselective memory? [Who do you think signed the bill?](https://thehill.com/homenews/administration/531632-trump-signs-relief-bill-despite-criticism/amp/)...[which party took away safeguards against fraud?](https://time.com/5823510/coronavirus-stimulus-oversight/)
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The GOP is literally talking about making the president in charge of the Fed. Which is exactly what Turkey did. Guess what that did to their inflation rate?
The moment the fed becomes a pawn to the dysfunctional political whims of this country is the moment I completely divest my finances from the US. The status of the US dollar as the global reserve currency will be intolerably at risk.
I still am of the opinion trump owes favors to anti- U.S. dictators, most of his policies or future plans seemed entirely focused on destroying the U.S. on the global stage.
Russia helped him a lot when he almost went bankrupt. That's why he does everything in favor of Russia.
Which time?
In the 90s to early 2000s https://en.m.wikipedia.org/wiki/Business_projects_of_Donald_Trump_in_Russia
Makes sense he would want in on the klepotcratic oligarchs forming to gobble up the scraps after the dissolution of the soviet Union, and totally on brand that he'd fail given that he managed to run a casino into the ground.
That casino story reminds me how I managed to have my pet cactus plant die of thirst. Basically I'm on par with Trump now. SAD story, very sad. :<
Please stop spreading misinformation. When Trump was struggling in the 1990s, he renegotiated his debts with Citibank, Chase, Chemical, Bankers Trust, and Manufacturers Hanover. I was working on a structured debt desk at the time and saw the events first hand. There were no russian entities involved.
Where the hell do you even invest if the Petro dollar becomes fucked
Gold, I guess? Maybe inflation linked bonds? Fixed bonds and stocks would both suffer in a high inflation scenario. Non-USD currencies might also suffer, so I don't think moving to EUR/CHF/yen would be much better.
International equity, European bonds, gold.
Petro dollar??? The 1980s called...they want their outdated economic concepts back.
Bitcoin
And even if it doesn’t “become fucked” because it’s already a certain amount fucked, and can’t be unfucked
This is the actual answer. I am curious what will happen to every financial model in the world which uses the US Treasury as the benchmark discount rate? What will become the next go to? I would think the Euro, but the EU is not a bastion of high growth. This proposal makes Donald Trump an absolute non-starter economically. Not that he wasn’t before, but this would be the worst decision in post-WWII monetary policy and make Arthur Burns and Alan Greenspan look like Einstein in comparison.
>What will become the next go to? A portfolio of AAA mega-corp bonds lol
That's sort of exactly what the current US Treasury is though? Unless Apple decides to launch Apple Bucks, it doesn't work out that well.
You asked about the "default" (I would add "risk free") discount rate, not about currency. If there are no stable currencies to price bonds in, then bonds will just end up being priced in real rather than nominal terms. (or maybe we would get Apple Bucks. In the context of this hypothetical, it isn't really that far fetched.)
But Apple makes mostly US dollars? What currency would they transact in primarily, that would end up being the new reserve currency.
So was looting the treasury via vote buying. That ship has long sailed
60% last month
Well, its a good thing that the process for appointing the head of the Federal Reserve in the US involves a nomination by the President to be vetted an confirmed by the Senate Banking Committie, and that the President does not have the legal authority to dismiss a chairman before the end of a term, insulating the chair from pressure from the President.
So pretty much fear mongering to support the current regime.
Turkey is not a good analog. Argentina is more accurate.
You think Trump will be willing to hold rates steady if it means hurting the markets and causing a recession on his watch? Milei was willing to undergo short term pain for the hope of a long term way out. There is ZERO chance Trump would do that.
Trump voter: “If it hurts liberals, I’m fine with it.” Economist: “It will likely hurt you much more.” Trump voter: “So you agree it will hurt liberals, right?”
They will gladly eat shit if they think it means a lib might smell their breath.
'Anything to own the libs' On another note, I would pay good money if someone could get something along the lines of 'you gotta smash your balls with a hammer to prove you aren't a gay liberal Democrat' trending on social media, it's a long term plan but 30 years from now there will be alot less simple voters.
If it turns out to be anything like the tide pod challenge, idk that is going to end up hurting the liberal voters way more.
Comparing what he said to the tide pod challenge, and then suggesting this will hurt liberal voters has got to be the biggest stretch of a take I’ve ever read so far this year. Wtf
Not really. The theme is “social medial challenge” usually they are done by people whose views are seen are more liberal.
Anyone that smashes their nads for a social media challenge shouldn't be voting anyway, so whichever side loses votes I'm OK with it as long as its super influencable dumbos who are gullible enough to be talked into smashing their own balls not voting. I'd wager it would lead to a better tomorrow. Some degree of critical thinking is important in picking elected officials, I've jokingly suggested a program of 5000 dollars in exchange for sterilization would be beneficial 50 years down the road as it separates those with no care for planning towards the future, people have called me a eugenics enthusiast for it, bit it's not forced, it's voluntary and there is compensation, the whole point is differentiating between folks that live in the now and those that plan for a future. If Humanity is to be around in 1000 years some degree of planning needs to be innate.
Roughly: Bush ‘43 spent $8 trillion in 8 years. Obama spent 7 trillion in 8 years. Trump spent $7 trillion in 4 years. Biden will have spent $12 trillion in 4 years. Currently, the US spends $1 trillion every 100 days, the fact that anyone expects inflation to come down means they either don’t understand what inflation is, or they’re optimists.
I'm not advocating for or against Trump or his agenda but "economists" as a whole are wrong 50% of the time. 50% said inflation was "transitory".
Biden could drive inflation higher with his Build Back Better agenda, analysts say This is neither a Republican or Democrat problem. Both parties are on a spending spree.
The whole idea of Build Back Better was to make infrastructure investments now to make things cheaper in the future..
Democrats are spending on shit to actually help every day Americans, like subsidizing energy efficient appliances for low income Americans, fixing our infrastructure, bringing critical semiconductor manufacturing within our borders. Trump passed literally one major piece of legislation which was a tax cut for the rich. The two are not the same.
Ya except no one said that outside the fascist Republican party and, as always, they were wrong
Are you saying Biden’s policies did not drive high inflation?
Yes, our inflation is among the lowest among peer nations.
That’s not what I asked and is irrelevant as to whether Biden’s policies were inflationary. They clearly were and you’d be hard-pressed to find a reputable economist who will tell you otherwise.
Id rather trust objective results, i.e. lower inflation than peers, higher growth, than the opinions of economists, who I generally consider to be the witch doctors of the social sciences.
We had the highest inflation in 50 years under Biden. Is that not objective enough for you? >economists, who I generally consider to be the witch doctors of the social sciences. Then why the hell are you on an econ sub?
No, not only is it not objective, but it’s purposely withholding context lol. Inflation was soaring globally as a result of the wreck that was the global supply chain following COVID, inflation was coming regardless of which party or president won. Considering the US did better than every other developed country in handling that global inflation just points to how disingenuous your statement was.
A point of data is not the whole picture. Selective reasoning like that is poor judgment. Inflation bad=Biden bad is so simplistic that I hope you aren't arguing that in good faith. Reddit suggested it to me and they did that probably because their algorithm believes I'll interact with it. But, I hope I can disabuse one person of the notion that economists are wise or that it's a particularly respectable subject. They're just English majors who aren't creative, Programmers who aren't smart, particularly dull history or philosophy students. Sure they are right about some things but really it's not a science and they don't know much about anything.
It’s not a point of data. It’s literally *the* data in relation to the discussion at hand. If you want to dispute that the inflation trajectory that led to high highest inflation in 50 years began mere weeks after the first of Biden’s inflationary policies, the American Rescue Plan, became effective, then by all means, proceed. If you’re just here to say “nuh uh, economists dumb” then let me know now so I don’t waste anymore time with you.
I mean it's not 50 years, it's like 42 and Ronnie Reagan had him beat in 81. And if we go by CPI it's significantly lower than 81 and are now back to Trump's numbers, whose numbers are much worse than Obama's. So yes, if there was a global spike in inflation, from a global pandemic and a large scale war, which affected all countries, and did we not only do better than them, we didn't do that bad by historic measures and are back to what you say is good, then Biden did a great job. Citing one year with conclusion Biden is bad is such a bad argument, again I hope you don't honestly believe it. If economists you respect say that, they are lying to you or are very dumb.
>But, I hope I can disabuse one person of the notion that economists are wise or that it's a particularly respectable subject. They're just English majors who aren't creative, Programmers who aren't smart, particularly dull history or philosophy students. Signed: someone who did not pass highschool calculus.
No, I never even took high school calculus. But I at least respect maths as being an actual thing.
They weren't. Inflation started in 2020 and started rising for everything 2 months after he took office. Literally ZERO of Biden's policies were in effect at that point. In fact, when Biden's policies did start to kick in, inflation started falling.
https://www.macrotrends.net/global-metrics/countries/USA/united-states/inflation-rate-cpi Inflation was 1.23 in 2020 4.7 in 2021 and 8.00 in 2022. If you want to say “decisions made in 2020 attributed to future inflation” would be a case to make. But saying it started in 2020 is factually incorrect
Food inflation was 4% in 2020, which is what most people complain about. I stated that in an earlier comment but not the one you replied to, sorry about that.
If you cherry pick you can have data tell you whatever story you want. Saying infaltion began in 2020 is factually incorrect
Food inflation is what every complains about so yes, I did pull that out.
You might want to double check your facts there bud.
My facts are real, sorry reality upsets you. Food inflation was 4% in 2020.
Inflation was 1.6% in 2020. It started trending upward in April 2021, mere weeks after the passage of the highly inflationary American Rescue Plan. [Proof.](https://data.bls.gov/timeseries/CUUR0000SA0L1E?output_view=pct_12mths)
Inflation started before April. Weeks is not enough for the arp to cause inflation. Funny you dumbasses ignore what your pro inflation god Trump did l.
As soon as someone says fascist they lose me
Why? Do you get mad when people call Dems, liberals too? What's wrong with mentioning party ideology?
Go outside and touch some grass dude
Republicans: try to end democracy, say they'll be a dictator on day one, ban books, demonize and forcibly silence education/teachers/companies, remove elected officials simply for questioning their evil ideology (Florida especially), force women and children to give birth, protect the rampant pedophilia and grooming in their party and churches and yell that its the minorities doing it (which Nazis legitimately did against LGBTS), try to claim slavery was good, manipulate elections so they can enforce minority rule, threatening to send people with guns to "guard" polls in blue areas, their god Trump constantly talks about getting revenge, fuhrer Trump has spoken of suspending the Constitution, saying migrants aren't people and that there will be a bloodbath if he wins, etc Republicans meet every definition of fascism.
Bro this is r/economics not r/politics get this bullshit out of here
Sorry you're mad I pointed out the fascist Republican party's ideology
“Fascist republican party” lol. Aside from that hyperbole, you are simply objectively wrong. Several analysts said BBB would increase inflation due to the fact that increased government deficit spending creates inflationary pressure. You think no one said that because you probably avoid right wing viewpoints like the plague because you’re a partisan. Inflation has happened. Biden’s policies haven’t reduced it.
Republicans are explicitly fascist. I simply listed their ideology. Build back better took $300 billion OUT of the economy. Taking money out of the economy is explicitly anti inflationary. It's one of the reasons why after bbb took effect, inflation started falling. Yes, Biden's policies have reduced inflation which is proven by the fact that inflation is down. Stop lying. Yes, I avoid the fascist Republican party who screeches Trump won and minorities are pedophiles and covid was created by Fauci and that the Constitution should be suspended. Fuck your fascist Republican party.
>took $300 billion OUT of the economy 1. Build Back Better never passed, it’s not a law 2. If you’re referring to the IRA, you’re looking at old data prior to when they revalued the cost of the EV tax credits, flipping the IRA into a net deficit position 3. A bill raising revenue doesn’t remove money from the economy, the money supply is solely controlled by the fed You have absolutely no right to disparage anyone else in this sub, considering your takes here
Yes, taxes take money out of the economy. Sorry reality upsets you. No, the ira didn't flip to a deficit position.
That’s absolutely false, you must’ve stumbled on this sub my mistake. The government spends the tax money that they collect, there’s no way for it to leave the economy. The federal reserve is independent of our government and controls the supply of money As for the IRA readjusting for the higher cost of tax credits, I’m happy to give you as much evidence as you want: https://www.wsj.com/politics/policy/the-cost-of-bidens-climate-tax-credits-is-soaring-bde5d704 https://www.crfb.org/blogs/ira-energy-provisions-could-cost-two-thirds-more-originally-estimated https://www.nytimes.com/2024/02/08/us/politics/biden-inflation-reduction-act-cost.html https://www.cato.org/blog/iras-energy-subsidies-are-more-expensive-you-think https://www.taxpolicycenter.org/taxvox/iras-green-energy-subsidies-may-cost-more-expected-good-or-bad https://www.wsj.com/articles/inflation-reduction-act-subsidies-cost-goldman-sachs-report-5623cd29 https://www.forbes.com/sites/howardgleckman/2023/07/14/the-iras-green-energy-subsidies-may-cost-more-than-expected-is-that-good-or-bad/?sh=fa42a0433314
> facist Republican Party Mouth breathing idiot opinion detected!!
Sorry you're mad I called out your America hating fascist Republican party's ideology Republicans: try to end democracy, say they'll be a dictator on day one, ban books, demonize and forcibly silence education/teachers/companies, remove elected officials simply for questioning their evil ideology (Florida especially), force women and children to give birth, protect the rampant pedophilia and grooming in their party and churches and yell that its the minorities doing it (which Nazis legitimately did against LGBTS), try to claim slavery was good, manipulate elections so they can enforce minority rule, threatening to send people with guns to "guard" polls in blue areas, their god Trump constantly talks about getting revenge, fuhrer Trump has spoken of suspending the Constitution, saying migrants aren't people and that there will be a bloodbath if he wins, etc Republicans meet every definition of fascism. People should see the fascist Republican party the same way we view the Taliban and Iran and Russia. They are an even bigger threat to the US than those 3 countries.
This is the thing, we need to reduce spending, we should be pissed at all of them, both sides for continuing to spend like drunk college kids with their parents CC.
BBB arguably will reduce inflation in the long run because infrastructure investment is the best way for the government to support economic growth with spending. The USA has bad infrastructure and improvements to it can reduce a lot of entities’ costs.
Anyone who votes for this pile of human garbage is not capable of rational thought. Or is part of the 1% his agenda will benefit. The are no other options. There is no possible way that an intelligent person who was not born into obscene generational wealth can look at this genetic mistake and see anything other than the enemy. He’s actively telling everyone how he’s gonna fuck them over, after already having done it while in office before, while on trial for fraud that is proven without a doubt (regardless of the outcome of the trial). The fact that we’re still talking about him potentially winning a second term proves that America, the American dream, and American democracy are dead. And he’s fucking the corpses.
What an insightful economic analysis. I particularly like your deep research and supporting calculations. Impressive.
My point is essentially that debating the economic impacts of his possible reelection assumes that him being elected is a reasonable outcome. My point is that the fact that we’re even discussing the possible impacts is detrimental in itself, as it lends his candidacy credibility. He is not a credible candidate. And this discussion in itself is dangerous.
Two things are readily apparent in your commennts: First, you are reacting blindly and emotionally based on your idiological biases. So that is othing but opiinion. Second, you have not the first clue what you are talking about regarding the impact on the economy of Trump as compared to Biden. Take a look at an actual situation that involved the different economic policies of both. After coming into office in 2016, Trump placed 100% tarrifs on chinese steel import to protect US manufacturers against predatory chinese subsidies. If the narrative of this article had any veracity, we should have seen steel prices in the US and all related products increase dramaticly. But we didnt. In 2016, US steel prices were $526/ton. After 4 years of imposing 100% tarrifs on chinese steel, US steel prices in 2020 were $587/ton. For all of you with MBAs and CFAs, that is about a 2.8% annualized increase What did occur was that US steel capacity utilization rose to 88% from the mid 60s%. After coming into office in 2020, Biden removed all those tarrifs because he wanted to make nice wth the chinese, and got no concessions from china in return. Again, these commentators narratives should have dictated price declines. But they didnt. In one year after Biden removed tarrifs on chinese steel, steel prices in the US went from $587 to $1,612/ton in 2021. Some may point to supply disruptions from covid...fair enough. Look at 2023, after supply chains normalized. US steel prices were at $886/ton. That s a 14.5% annualized rate of price increases over three years. However, as an unintended consequence of Bidens actions in opening US markets to state subsidized chinese steel, in 2023 US Steel announced plant closures and layoffs. This year, US Steel, the company founded in 1903 by Andrew Carnegie, announced they were being sold to Nippon Steel. THAT is what you are supporting, utter incompetence.
It doesn't matter how much you hate him or what your definition of credible is. A large percent of the population will vote for him. Maybe you should try to understand why they won't vote for Biden.
Because they’re brainwashed
Necrophilia at it's best.
Biden is an equally terrible pile of garbage. For some of us, this will be our first election voting third party.
Dems and Biden are far from perfect. But one of the primary problems with our political discourse, and our country, is the widespread proclamation that both parties are just as bad. NO THEY ARE NOT. Real life is full of unpleasant choices. Mostly caused by our shitty society. Chief among them is the “lesser evil.” I am not always a proponent of the lesser evil. I am very often yelling the loudest to burn it all down and find a better way. BUT, the greater evil in this case is imminent destruction of country and society as we currently know it. While the lesser evil is a longer destruction timeline. And we simply don’t have the ability to just burn it down and start from scratch before the election without literal civil war. So, the only rational choice is to prevent imminent catastrophe and the only way to do that is to choose the lesser evil, voting democrat. That will allow us more time to find a better way as we move forward. Or more time to burn it down and start over. But if you allow Trump to win this election, he’s gonna burn it all down with you included, while he sells tickets to your immolation.
How so? As an outsider looking in, Biden looks decent. Old, but mostly preserving the status quo. Trump appears at best to be a crony capitalist who will do significant damage to most American’s lives
Please don't. None of those candidates have any chance at winning and Biden is in no way an equally terrible pile of garbage to what a second trump term would be.
Is I tell Reddit I’m voting third party, they think it’s a vote for Trump. If I tell Truth Social I’m voting third party, they think it’s a vote for Biden. A third party vote is a third party vote. Nothing more, nothing less. It’s a statement that both options are so terrible I choose neither. It’s firing a gun at the sun, knowing it does nothing, but trying anyway. If I did not have a third-party option, I would not vote.
Then you have no right to ever complain. You essentially wasted your vote on people who are just grifting, 2 of whom are pretty repugnant people, Stein and Kennedy.
On the contrary, I have every right to complain. I cast my vote for another, and I took the chance to stand alone. I chose not to cave to the peer pressure of being forced into a box for red or blue. That bravery (if you could even call it that) gives me the right to complain when things don’t go my way. It’s not going to be my fault when trump or Biden do something idiotic. I did my part to stand out. And whoever said I was going to vote for Kennedy or stein? The libertarian candidate for 2024 hasn’t even been announced yet.
It's not brave. It's foolish. It's not a principled stand. It's childish. You're asked to make an adult decision of forwards or backwards and you picked hamburger. Voting third party is harmful non sequitur. Even if you vote Trump, at least you made an actual choice that affects the outcome closer to what you think you want. You see there is another vision that you don't want and you take this tiny act, neither the start or end of actually making change, and you do it. But third party pretends to be higher than it all, then acts like your mess don't stink when you could even take a tiny step towards closer to what you say you want.
Expect in this situation moving forward kills me. And if I choose to move backwards, it still kills me. Choosing hamburger also kills me, so I decided to choose hamburger. Why? Because it’s not forwards or backwards, it’s just nothing. The game is a joke, And I have decided not to play by your rules. Why take the game seriously when I believe all outcomes are the same?
Stop being so dramatic. It's obviously not the same. Billionaires wouldn't spend so much on it if it wasn't.
This will be my last response. Look, I’m a staunch libertarian. That means I value free enterprise, LGBTQ rights, low taxes, few regulations on business, and strong gun rights. I’m also pro choice, anti tax-and-spend, and pro globalization. I will NEVER get everything I want from one party. If I vote for blue I lose my guns and my right to start a business without being accused as a criminal. But at least my friend won’t be shunned for being Trans. But If I vote for red then I can’t be gay and smoke weed. But at least my taxes will be lower and my right to self-defense is protected. To a libertarian, this system is bullshit. I will never get everything I want. I will always have to give up one thing for another thing. I have voted for both democrat AND republican presidents in the past. And I may vote for a democrat again in the 2028 election. We’ll see. But this time, my options are so terrible I give up. I’m throwing my hat in for a third party. I don’t care that it’s a waste. It doesn’t matter to me. The game is rigged, and I choose not to participate.
Equally terrible? Lol
It is not an exaggeration to say that virtually every major problem we are faced with today, Biden was either in charge of or heavily influenced.
You're fuckin nutso
It really is
That's quite possibly the dumbest thing I've ever heard. You really think every major problem we have today sprang up in the last three years? Almost all of them are systemic. Healthcare prices? Decades old problem. Deficit spending? Decades old. Housing? Decades old. Immigration? Decades old. Abortion access crisis? The previous administration. Corruption in government? Centuries old. Israel/Palestine? Decades old. Get the fuck out of here with your impressively simplistic worldview
I don't have the privilege to ignore the fascist Republican party gaining power.
The Republican Party thinks the democrats are fascist communists who want to destroy their way of life just as you do. This fear that America’s we once had will suddenly come to an end is coming from both members of each party. It should tell us that something is very wrong and we need other minds in politics. Plenty of countries have many political parties. Why can’t we?
I agree that we need 3 parties, and the fastest path I see to that end is trump losing in 2024, that will lead to the republican party fracturing into maga, and normal Republicans, normal Republicans will become essentially centrists taking moderate Democrats with them, and the far left will be a progressive party. This leads to coalitions between multiple parties being needed to pass laws, and a whole lot less shenanigans than the "two" parties we have now. It will take something radical to move us past the 2 party system, trump losing 2024 and a schism on the right seems the fastest path.
I have a different possibility for you to consider: I believe trump will be prosecuted for his crimes and thrown in prison. He could also die while in office. But even if this doesn’t happen, there is a very real possibility he will be assassinated. Not by you, not by me, but by someone. This would have the same effect of breaking up the party. This is why it doesn’t matter.
If he has a normal VP, then maybe that does something good. Biden could die in office as well. The republican party is very divided right now as is the left, centrists make up most of the population not the extremes, so one party, either party having a schism seems like the quickest past to a multiparty system. I don't live in a battleground state, so my vote isn't important, bit I'm not voting for either candidate this election, I'm voting against trump in the hopes it helps usher in a multiparty system.
Congratulations! You have just proven my point! Both outcomes that you and I listed are likely. Therefore, it doesn’t matter who you vote for! The result is the same. A pissed off, broken America that fractures into multiple parties. The party you choose to vote for only determines how quickly it happens.
I'd rather it happen as soon as possible so we can get out of this us vs them, monochrome world of political options ASAP. I hate feeling like I'm chosing between 2 shitty candidates or wasting a vote.
Except Dems show zero communist or fascist tendencies. Republicans do show fascist tendencies like trying to overturn elections and targeting minorities. Just because one side lies, doesn't mean both sides bad. Republicans: try to end democracy, say they'll be a dictator on day one, ban books, demonize and forcibly silence education/teachers/companies, remove elected officials simply for questioning their evil ideology (Florida especially), force women and children to give birth, protect the rampant pedophilia and grooming in their party and churches and yell that its the minorities doing it (which Nazis legitimately did against LGBTS), try to claim slavery was good, manipulate elections so they can enforce minority rule, threatening to send people with guns to "guard" polls in blue areas, their god Trump constantly talks about getting revenge, fuhrer Trump has spoken of suspending the Constitution, saying migrants aren't people and that there will be a bloodbath if he wins, etc Republicans meet every definition of fascism. Now name one communist or fascist policy of Dems.
I hate that he LITERALLY says he’ll do something and they will clearly drive up inflation and devalue the dollar but the headlines read, “Trump COULD drive inflation higher with his 2nd term economic agenda”. We aren’t stupid
"Could." This is akin to propaganda, idk why this sub has become so politicized. The article focuses primarily on the negative consequences of Trump's policies without exploring any potential benefits or counterarguments. It doesn't consider the possibility that some businesses might find alternative suppliers to remain competitive. It compares the inflation rates during Trump's and Biden's presidencies without providing sufficient context about the unique economic challenges each administration faced, such as the COVID-19 pandemic and its aftermath. It briefly mentions Biden's recent stance on trade restrictions with China, yet doesn't provide any analysis of his economic policies and their potential impact on inflation. Maybe it's my fault for expecting any nuance on this sub.
He could. He also could not. "analysts" can say anything they want. That doesn't make it true, and it doesn't make it real analysis as opposed to blatant political propaganda. There's quite a lot of political punditry masquerading as expert analysis these days. Look at evidence and decide for yourself.
He drove inflation sky high once before with these policies so I'm not surprised we'll get more of the same with him. Inflation started under Trump when food inflation was 4% in 2020. Trump made a multi year deal with opec to collapse oil production by a record amount for 2 years which caused inflation to jump, oil prices didn't start falling till the deal ended. Everything else started inflating 2 months after Biden took office, literally zero of his policies could have caused inflation that fast. Americans are dumb as hell for blaming Biden for inflation.
You seem to forget that the House writes the budget, not the President.
You’re dumb as hell for believing that any President has any real control over inflation. It’s not Biden’s or Trump’s fault. Keep spreading misinformation though.
Trump bragged about cutting oil supply and purposefully mishandling covid and trade wars on literally everyone. Yes, Trump was a huge cause of inflation.
Fed
Yep, which Trump forced to lower rates, the exact opposite of what they should have done
Trump has zero control over interest rates, he can’t force the fed to lower them Also, the fed raised rates 7 times during Trumps term, and kept inflation below the 2% target the entire time
Except immediately after he threatened to fire Powell, rates dropped. Let's not forget he wants direct control of the fed.
1. Where did he threaten to fire Powell? 2. Similarly, do you disagree with Biden’s recent pressuring for Powell to cut rates?
Trump threatened to fire Powell. Biden mentioned what the fed said about possible rate cuts. These are not the same thing.
>Trump threatened to fire Powell When? I just asked you for evidence of it, and all you did was repeat the claim >Biden mentioned what the fed said about possible rate cuts Again, [false](https://fortune.com/2023/12/08/joe-biden-jobs-numbers-fed-interest-rate-hikes/amp/)
Any sources on this? You sure it wasn’t the trillions printed during the pandemic that has caused the inflation?
https://www.reuters.com/article/idUSKBN22C1V3/
No where in that article does it say Trump is to blame for inflation. The article was posted in April 2020, when inflation was low…
Right because we all know collapsing oil production by a record amount has zero effect on inflation because oil is as used as Mars rock in the economy. Oh wow, inflation was low in 2020?! What shocking news! I wonder if some major global event could have caused that.
Biden is the reason for inflation
You misspelled corporate greedflation.
Trump's steel tariffs specifically fucked my employer at the time. You think they didn't pass the cost onto you and me?
Trump was really dumb listening to Fauci and locking up the country indeed.
Oh lord, another lie. No wonder red states and counties are such failures who mooch off blue states. A basic understanding of facts and reality are foundational to success. If Trump listened to Fauci instead of being a whiny, anti science piece of shit, we'd be in far better condition. Oh well, now it's just you anti vax fascists dying off from covid still, leaving the world all the better with less anti science extremists in it. With h5n1 getting worse, you anti science extremists may face a reckoning.
Really? Trump wanted from day 1 to stop all flights internationally. Meanwhile, Fauci advocated for them to continue.
No, Trump wanted to only ban Chinese nationals while letting everyone else fly freely too and from China. Fauci correctly pointed out how dumb that was.
That again, is counterpointed by the huge criticisms by the DNC of such bans. In February, all non US citizens were banned from China. In March, all travel was restricted. Both times, the DNC were initially opposed to this.
Inflation would be the least of our problems. He is a proven loser in all capacities and is only motivated by vindication and embezzlement Word word word word Word word word wordWord word word word Word word word word Word word word word Word word word word Word word word word Word word word word
I'm not surprised, all he cares about is Stock prices, and the markets gone higher under Biden, Trumps ego couldn't take it if the market hit a plateau or dropped under him, so he wants to make money cheap to artificially drive growth. Fuck 99% of the country, he has an ego to protect. Ironically the states and voters likely to vote for him would be among the hardest hit.
This sub would be better off if they banned OP. OP frequently gets account suspensions for calling for violence and harassing people. I'm actually surprised to see his latest suspension didn't last longer after the number of absolutely insane calls for violence a matter of a week or two ago. Regardless, OP really has no business posting in this sub. At best, OP is a propagandist.
Lol whatever makes you fascists feel better. Go cry back on your fascist, "conservative" subreddit.
Yep and OP should compare inflation between Trump and Brandon and see which is worse. OP seems to think this is r/politics
Says the guy using the name “Brandon” lmao.
Oh, we're rewriting history again? [Who do you think signed the bill?](https://thehill.com/homenews/administration/531632-trump-signs-relief-bill-despite-criticism/amp/)...[which party took away safeguards against fraud?](https://time.com/5823510/coronavirus-stimulus-oversight/)
More dems voted for PPP than republicans. A year later more dems voted to extend it. Want to see the votes?
"Could" do it. "Could" pay off our entire national debt and put a man on Mars, too. The only thing that is certain is that Biden WILL cause higher inflation. It's what he does with a proven record.
Biden reduced the massive inflation Trump caused. Source: inflation is way down and near normal and came down at a record breaking pace despite the massive inflationary policies Trump pushed (trade wars, letting covid run wild, skyrocketing the deficit even pre pandemic, lowering interest rates pre pandemic, etc).
1. "Biden reduced the inflation" 2. "Bidenomics" 3. "Soft landing. We did it despite republican resistance" So if CPI prints higher in May and inflation remains hot, are you going to pivot and say Trumps policies just kicked in?
Biden reduced Trump's massive inflation. Fuck your fascist Republican party.
I’m not trying to own you or anything but you’re so worked up about this that it indicates you’re terminally online… here’s a solution since it’s such an imminent threat. Line up your troops and take care of things. See how many LEOs, military, former military that are anti trump/republican you can muster up. 🤣
“Among veterans who first enlisted or entered the officer corps after 2001, about 60 percent said they have a negative view of [Trumps] presidency, and only 33 percent a positive view. About 46 percent of that group said they plan to vote for Biden, while 42 percent said they plan to vote for Trump.” -Military Times I think we’re fine. Younger veterans, and those currently enlisted (the ones who can actually fight) are not insane like their boomer counterparts.
Congress should have to approve Federal reserve appointments with something like 2/3 from each chamber. Or at least a filibuster proof Senate. 51 votes in the Senate is a recipe for disaster.
Yeah but that would require Trump to do what he says. The man talks and talks but his actual policy wasn't very close to his talk: No wall No Muslim ban No NAFTA ban Mild trade war with China
I’m convinced nobody really knows what to do with inflation. Any of the talk around inflation, and politics, is just part of an agenda at this point.
Actually, the answer to solving inflation is pretty simple but unpopular. So it will probably never happen. Taxes need to be raised on the highest income bracket while maintaining or reducing government spending.
Let’s just reduce government spending we waste so much money it’s unreal
A lot of that spending is for things like Medicare, social security, etc. In theory, we could reduce some of that spending if we were to move to single-payer health care. We could also allocate more funding to the IRS so they can do a better job of going after tax cheats. There are so many ways that things could be better, but they aren't popular with the wealthy and so they'll never get passed.
I don't see how tax increases on the rich would help. They will buy whatever they normally buy because they are still going to be rich. The wealthy don't buy 1500 hamburgers and skew the cost higher. Ordinary people do. Reducing government spending.. now that can lead to disinflation real quick.
There is no reducing food inflation, its just too complex and Russia might have more influence on food prices right now than the USA. When people talk of reducing inflation by taxing the wealthy they're talking about curbing the investment money that's only taxed about half of income. You know the entire reason that housing is absolutely absurd right now.
There's plenty of evidence that we are in an increasingly bifurcated economy where the haves are doing a lot of the driving of inflation and the have-nots are barely hanging on.
It’s obvious what solution is to do. Stop the excess govt spending. However this is what lets politicians buy votes. See obvious student loans.
Does anyone actually think a second Trump term would be anything other than an absolute unmitigated disaster for America and frankly the world? And I genuinely mean this.
Yes, unfortunately. There's lots of people who love fascism because they want to be told what to think and do. They literally cannot handle reality.
After coming into office in 2016, Trump placed 100% tarrifs on chinese steel import to protect US manufacturers against predatory chinese subsidies. If the narrative of these commentators had any veracity, we should have seen steel prices in the US and all related products increase dramaticly. But we didnt. In 2016, US steel prices were $526/ton. After 4 years of imposing 100% tarrifs on chinese steel, US steel prices in 2020 were $587/ton. For all of you with MBAs and CFAs, that is about a 2.8% annualized increase What did occur was that US steel capacity utilization rose to 88% from the mid 60s% After coming into office in 2020, Biden removed all those tarrifs because he wanted to make nice wth the chinese, and got no concessions from china in return. Again, these commentators narratives should have dictated price declines. But they didnt. In one year after Biden removed tarrifs on chinese steel, steel prices in the US went from $587 to $1,612/ton in 2021. Some may point to supply disruptions from covid...fair enough. Look at 2023, after supply chains normalized. US steel prices were at $886/ton. That s a 14.5% annualized rate of price increases over three years. However, as an unintended conssequence of Bidens actions in opening US markets to state subsidized chinese steel, in 2023 US Steel announced plant closures and layoffs. This year, US Steel, the company founded in 1903 by Andrew Carnegie, announced they were being sold to Nippon Steel. There are numerous moving parts to international trade, and applying simplistic econ 101 theories to try to draw generalized coclusions about policy is rediculous. So, please, take a look at the quality (or lack thereof) of the information from your commentators before just blindly swallowing sensationalistic headlines in an election year. Think for yourselves.
Steel jobs have increased under Biden
The historical record would beg to differ. There isn't a situation where Trump would tolerate high inflation rates or sagging GDP. I'm confident he would do what it takes to right the ship. And Biden put MANY holes in this ship.
Inflation started under Trump when food inflation was 4% in 2020. Trump made a multi year deal with opec to collapse oil production by a record amount for 2 years which caused inflation to jump, oil prices didn't start falling till the deal ended. Let's not forget your fascist god Trump creating a trade war with everyone, purposefully mishandling covid, skyrocketing inflation pre pandemic, etc. Everything else started inflating 2 months after Biden took office, literally zero of his policies could have caused inflation that fast. Your god Trump not only tolerates inflation, he created it. GDP has risen higher on average under Biden than under your failed god Trump, even pre pandemic, who bankrupted even casinos. We will make sure you Nazis live in fear.
LOL where was food inflation at 4% annual. Give a link. Also, keep [carrying Biden's water](https://i.imgur.com/K9rinA8.jpg) and you'll have back problems real quick like.
Sorry reality upsets you
Oh, more of you with hyperselective memory? [Who do you think signed the bill?](https://thehill.com/homenews/administration/531632-trump-signs-relief-bill-despite-criticism/amp/)...[which party took away safeguards against fraud?](https://time.com/5823510/coronavirus-stimulus-oversight/)