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How Quickly We Forget What The Main Inflation Drivers Before Biden Were
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Feb 8, 2023 20:53:32   #
older and wiser
 
Among other things!

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Feb 10, 2023 19:19:31   #
Radiance3
 
woodguru wrote:
The housing market was the main driver, both home prices shooting through the roof, and the cost of rental apartments and houses.

That said, remember trump's ill conceived trade wars? I tried to buy a steel shelter for my boat and backhoe, it was going to be $1000 installed in November/December...went up to $2200 by the next January, was $3000 by February. This was because of the cost of steel in the US because of the way trump monkeyed up the trade balance.

The cost of building supplies such as wood tripled in a year during trump's watch, although that had a lot to do with supply chain issues caused by c***d disruptions to the supply chain.

These things were a huge inflation driver, and economic statistics can take quite awhile to start reflecting as inflation...

My point being that this moron class babbling from the right about inflation being Biden's fault is indicitive of how stupid the right is in terms of understanding cause and effect.

Now of course inflation indicators are coming down, the right is still yammering about this being Biden's fault.
The housing market was the main driver, both home ... (show quote)

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There was no inflation before Biden. Trump's inflation of 1.4% was the lowest in history .

Inflation is now 500 percent higher than it was when Biden took office.
“Reckless spending by President Biden and Washington Democrats ignited and then has thrown more fuel on the inflation fire, where now inflation has grown over twice as fast as it did under Carter. To put matters in perspective, inflation is now 500 percent higher than it was when Biden took office. Even at its peak, inflation under Carter had only grown by 200 percent compared to when he took office.”

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