Massive inflation in other countries was caused in the same way -- more money chasing after fewer goods.
And the reason why there were fewer goods was, largely, covid. Not government spending exclusively, as you suggested earlier. So my point that covid played a role seems to hold.
Selling off the strategic oil reserve endangering our national security is not fiscal policy? And the act is about as effective as a bee-bee gun shot to drop an elephant. What else do you cite as Biden fiscal policy that brought down the inflation rate?
As I've said before, I'm not an economist, so I don't know all the ins and outs of economic policy, and I certainly can't speak intelligently about them, but I can see the results, and many do attribute those results to Biden's policies.
The facts are simple:
when Biden took office, inflation was rising. It peaked around the summer of 2022, and then came down...and stayed down. Some, including many leading economists, attribute this to Biden's economic policies. You say otherwise. I don't know, maybe it's all just a coincidence.
But since Biden isn't running for office, his policies aren't the issue going forward.
And a majority of economists seem to think that Harris' policies will be better than Trump's as regards inflation. If you disagree, I'll leave it to you and them to fight it out.
Hint: The major reason the rate of inflation was reduced is the Fed's reaction to the inflation caused by Biden with its monetary policy (not controlled by Biden).
Other countries have different situations to deal with. Which country specifically are you referring to?
Give credit where credit is due -- to the Fed.
I've never claimed to be an economist, and I've also said I'm trying to understand this. What I'm hearing, though, is you want to blame Biden for everything, and give him no credit whatsoever for anything. If I've missed something, feel free to elaborate.
I'm willing to accept that Biden's spending played a role in increasing inflation. I've said as much. But, your contention was that it was the ONLY factor, and that is what I've been disputing.
Drop your mic. As your posts are admittedly and shown to be ignorant regarding economics, leave the mic on the floor and pick up a book on macroeconomics or a book on money, credit and banking. To continue punching down is just not a good look for me.
I've stated, repeatedly, that I'm not an economist...and that I'm trying to learn....but I still think my point was made.
If you want to claim that Biden's spending is the sole and exclusive reason for massive inflation, then why has inflation gone down considerably since he took office?
You can call me "ignorant" all you like, I've never pretended to know more than I do, but that's not a substitute for addressing the points I have made.
-- A2SG, feel free to address them, rather than me personally......