Another Fact-Checking on the Presidential Debate

[FreeinChrist]

Inflation has everything to do with the economy heating up or cooling down. It went down as the Covid pandemic occurred and then really heated up as the pandemic ended and people were spending a great deal.

Presidents really don't control it.

 

[FreeinChrist]

Inflation has everything to do with the economy heating up or cooling down. It went down as the Covid pandemic occurred and then really heated up as the pandemic ended and people were spending a great deal.

Presidents really don't control it.

Example"
Real spending

Consumer Spending on Services Keeps up with Raging Inflation in Services. Spending on Goods Falls as Prices Drop, Demand Fizzles after Pandemic Binge | Wolf Street

GPD see the dip in 2020?

Real GDP growth rate U.S. 2023 | Statista

In 2023 the real gross domestic product (GDP) of the United States increased by 2.5 percent compared to 2022.

www.statista.com

I don't think Trump wanted Covid so that the spending and GDP would drop so inflation was low. The rebound was steep. Some folks bought houses that I think they are sorry they bought now.

 

[prodromos]

No, it is a fetus until birth.

"Fetus" is the Latin word for "offspring". My adult children are all my "offspring".

 

[FreeinChrist]

"Fetus" is the Latin word for "offspring". My adult children are all my "offspring".

Fetus

Definition of Fetus in the Medical Dictionary by The Free Dictionary

medical-dictionary.thefreedictionary.com

fetus​

[fe´tus] (L.)
the developing young in the uterus, specifically the unborn offspring in the postembryonic period, which in humans is from the third month after fertilization until birth. See also embryo.

Definition of FETUS

an unborn or unhatched vertebrate especially after attaining the basic structural plan of its kind; specifically : a developing human from usually two months after conception to birth… See the full definition

www.merriam-webster.com

fetus​

noun​

fe·tus ˈfē-təs

: an unborn or unhatched vertebrate especially after attaining the basic structural plan of its kind
specifically : a developing human from usually two months after conception to birth compare EMBRYO sense 1a



Once your children were born, they are no longer in the fetal stage of development.

 

[Merrill]

The inflation rate the year before Biden took over, 2020, was 1.2%.This was due to the Covid economic slowdown.

and what was the 1.9% inflation rate in 2018 due to?

you are implying that low inflation under Trump was entirely a result of COVID lockdowns --but inflation was very low during his entire presidency

 

[Yarddog]

Inflation rates 2016-22, it jumped to 8% in 2022.

Year	Inflation Rate (%)	Annual Change
2022	8.00%	3.30%
2021	4.70%	3.46%
2020	1.23%	-0.58%
2019	1.81%	-0.63%
2018	2.44%	0.31%
2017	2.13%	0.87%
2016	1.26%	1.14%

U.S. Inflation Rate (1960-2024)

Inflation as measured by the consumer price index reflects the annual percentage change in the cost to the average consumer of acquiring a basket of goods and services that may be fixed or changed at specified intervals, such as yearly. The Laspeyres formula is generally used.

www.macrotrends.net

Our strategic petroleum reserves are down by almost 50% since 2016 however.

U.S. Ending Stocks of Crude Oil in SPR (Thousand Barrels)

www.eia.gov

Can you explain why inflation increased so much in 2021 and 2022?

 

[prodromos]

Once your children were born, they are no longer in the fetal stage of development.

But they are still developing and continue for many years. Abortion is primarily child sacrifice on the altar of inconvenience.

 

[Lukaris]

I think the current potus has some influence on inflation. Most of it will probably be for the worse. I cited that our strategic petroleum reserves are way down in the last several years by around 50%. Then the dem party is always allegedly out there “for the workin’ stiff” like in the 2023 UAW strike. The potus stood tall with the big union and helped Ford Motors capitulate ( even though Ford had avoided strikes since the 1970s). Meanwhile Ford will raise prices and then we have a probable emerging mess with the EV government mandate ( no influence there of course). Ford might even shift jobs outside the US of course big union will chant the “corporate greed” mantra.

Ford CEO says company will rethink where it builds vehicles after last year's autoworkers strike

Last year, Ford’s highly profitable factory in Louisville, Kentucky, was the first truck plant that the UAW shut down with a strike.

apnews.com

Thankfully, workers in parts of the US know that big union is better to be told to keep out.

https://www.reuters.com/world/us/uaws-influence-tested-pivotal-alabama-mercedes-benz-factory-union-vote-2024-05-17/

I work at a warehouse job moving boxes around so I am not a CEO. I don’t believe management is my friend or big goonion,

 

[Lukaris]

Can you explain why inflation increased so much in 2021 and 2022?

Overspending, printing too much money, raising interest rates too high.

Billionaire Stan Druckenmiller says he'd give Bidenomics an ‘F’ because inflation almost came down before the Fed 'fumbled on the five-yard line’

The famed investor accused the Federal Reserve and the Biden administration of misdiagnosing the severity of the pandemic’s economic crisis.

fortune.com

 

[Yarddog]

and what was the 1.9% inflation rate in 2018 due to?

you are implying that low inflation under Trump was entirely a result of COVID lockdowns --but inflation was very low during his entire presidency

I've never said anything other than the low inflation rate caused by the Covid economic crisis.

 

[FreeinChrist]

But they are still developing and continue for many years. Abortion is primarily child sacrifice on the altar of inconvenience.

The word 'fetus' is specific to the period of time from about 8 weeks until birth.

Then they continue to develop and grow as a child until adulthood, where we develop until old age and death.

I wouldn't have ever embarrassed my children by calling them a fetus in their teens. Or in their 40s. That would be ignorance.

 

[FreeinChrist]

Overspending, printing too much money, raising interest rates too high.

Billionaire Stan Druckenmiller says he'd give Bidenomics an ‘F’ because inflation almost came down before the Fed 'fumbled on the five-yard line’

The famed investor accused the Federal Reserve and the Biden administration of misdiagnosing the severity of the pandemic’s economic crisis.

fortune.com

Printing money didn't do it. During the Trump administration they were spending billions every month to put into the bond market and to ensure there was enough money to lend to banks to lend out. That is why Trump added 8 trillion to the debt.
It was the high amount of spending by consumers and the rapidly expanding economy that drove it.

 

[prodromos]

The word 'fetus' is specific to the period of time from about 8 weeks until birth.

Then they continue to develop and grow as a child until adulthood, where we develop until old age and death.

I wouldn't have ever embarrassed my children by calling them a fetus in their teens. Or in their 40s. That would be ignorance.

You didn't disagree with the latter part of my post.

 

[FireDragon76]

Inflation has more to do with tax policies and deregulation of financial markets, it isn't directly controlled by any particular president.

 

[FreeinChrist]

You didn't disagree with the latter part of my post.

Why argue? My disagreement with your earlier post is that it seemed you simply applied the word fetus to off-spring regardless of age, and that is incorrect. The word applies to a stage of prenatal development. It ends with birth. In the hospital, no one refers to premature babies as fetuses. That would be considered ignorant.

 

[Laodicean60]

Can you explain why inflation increased so much in 2021 and 2022?

Loosening the lockdown people started spending their stimulus checks and the price of goods went up because many stores weren't prepared plus China still had lockdowns in place all these affected the supply chains.

 

[Merrill]

Inflation has more to do with tax policies and deregulation of financial markets, it isn't directly controlled by any particular president.

Inflation has very little to do with tax-policy and deregulation of financial markets

Inflation is a consequence of

1. Monetary policy: artificially-low interest rates (like the ones we had for years before the current inflation problem) cause pricing distortions in the market, and excess liquidity

2. Fiscal policy: excessive government spending injects liquidity into the system, leading to "too much money chasing too few goods" and "people being paid to dig ditches". By the end of 2022, Biden and congress had introduced 3.37 trillion in new spending (surpassing Trump's 3.28 trillion during the 116th congress) and the number has gone up (ARA, IRA, etc.).

In addition to this, policies like student-loan forgiveness are directly inflationary

3. Supply shocks and disruptions: which we saw under the pandemic, but have largely vanished.

The Democrats and others have introduced this talking-point that inflation is caused by things like the Trump tax cuts and "corporate-greed", but there is absolutely no evidence or theory to support any of that. We didn't see a massive spike in inflation after that Bush tax cuts, and corporations have had pricing power for decades --they don't suddenly decide in the last 2 years to hike prices on everything. That isn't how it works, and no serious economist supports this talking point.

Now that isn't to say Trump doesn't deserve some blame for the inflation problem (he spent a ton of money), but not for the reasons Democrats put forth

 

[Yarddog]

Loosening the lockdown people started spending their stimulus checks and the price of goods went up because many stores weren't prepared plus China still had lockdowns in place all these affected the supply chains.

I agree

 

[Yarddog]

Inflation has very little to do with tax-policy and deregulation of financial markets

Inflation is a consequence of

1. Monetary policy: artificially-low interest rates (like the ones we had for years before the current inflation problem) cause pricing distortions in the market, and excess liquidity

2. Fiscal policy: excessive government spending injects liquidity into the system, leading to "too much money chasing too few goods" and "people being paid to dig ditches". By the end of 2022, Biden and congress had introduced 3.37 trillion in new spending (surpassing Trump's 3.28 trillion during the 116th congress) and the number has gone up (ARA, IRA, etc.).

In addition to this, policies like student-loan forgiveness are directly inflationary

3. Supply shocks and disruptions: which we saw under the pandemic, but have largely vanished.

The Democrats and others have introduced this talking-point that inflation is caused by things like the Trump tax cuts and "corporate-greed", but there is absolutely no evidence or theory to support any of that. We didn't see a massive spike in inflation after that Bush tax cuts, and corporations have had pricing power for decades --they don't suddenly decide in the last 2 years to hike prices on everything. That isn't how it works, and no serious economist supports this talking point.

Now that isn't to say Trump doesn't deserve some blame for the inflation problem (he spent a ton of money), but not for the reasons Democrats put forth

Tax cuts and corporate greed only with several other issues usually lead to recession.

 

[FireDragon76]

Inflation has very little to do with tax-policy and deregulation of financial markets

Inflation is a consequence of

1. Monetary policy: artificially-low interest rates (like the ones we had for years before the current inflation problem) cause pricing distortions in the market, and excess liquidity

2. Fiscal policy: excessive government spending injects liquidity into the system, leading to "too much money chasing too few goods" and "people being paid to dig ditches". By the end of 2022, Biden and congress had introduced 3.37 trillion in new spending (surpassing Trump's 3.28 trillion during the 116th congress) and the number has gone up (ARA, IRA, etc.).

In addition to this, policies like student-loan forgiveness are directly inflationary

3. Supply shocks and disruptions: which we saw under the pandemic, but have largely vanished.

The Democrats and others have introduced this talking-point that inflation is caused by things like the Trump tax cuts and "corporate-greed", but there is absolutely no evidence or theory to support any of that. We didn't see a massive spike in inflation after that Bush tax cuts, and corporations have had pricing power for decades --they don't suddenly decide in the last 2 years to hike prices on everything. That isn't how it works, and no serious economist supports this talking point.

Now that isn't to say Trump doesn't deserve some blame for the inflation problem (he spent a ton of money), but not for the reasons Democrats put forth

That's assuming Neoliberal economic policies are sound. I don't share that assumption.