I’d agree except most over the age of 45-50 will never leave FB for other platforms. They’ve got decades of milking money out of that cow before it dies completely
Why was that bound to happen? Inflation also raises nominal wages. It's not clear what impact inflation has on the relative price of labour vs goods and services.
How much of inflation during Biden years was from Trump? For instance, Trump agreements to restrict oil production after covid lasted deep into Biden's term. The US still did better on inflation than most comparable peers in the aftermath of covid.
A big part of it was like $5T in covid stimulus, most of which happened under Trump. Biden piled some more on, probably unnecessarily. It felt like we were balancing on a razor's edge and maybe starting to come out of it by the end of 2024. A lot of inflationary policies since then.
The biggest problems were various supply shocks associated with the pandemic and its aftermath and the Russian invasion of Ukraine.
The Biden admin brought down inflation much faster than even optimistic economists predicted, while maintaining full employment and avoiding a recession. The US economy during that period significantly outperformed most other wealthy countries. (As one indicative example, the cover story of The Economist from October 2024 was titled The American economy: The envy of the world.)
Since then we've had a wide range of completely self-inflicted policy faceplants, including notably several rounds of illegal tariffs and a war with Iran.
Biden's ARP independently caused inflation according to multiple central bank analyses.
However, you are also correct that Trump pressuring OPEC to cut oil production at the end of his first term did cause additional inflation in Biden's term.
We let Trump print $4T in an election year and Biden print $2T in four years. Trump was going 40mph in the parking lot, Biden slowed down to 5mph, and while there is a legitimate discussion to be had about whether or not the latter was too fast when someone is spazzing out about the 5mph and ignoring the 40mph, it's because they have an agenda.
Yes, lets continue on with the $7 trillion subsidies/year (worldwide), 10M deaths from air pollution, almost all diseases/cancers linked to pollution. Its sacrilege to talk about fossil fuel subsidies.
reply