Re: Todays rant

On 12/1/2024 5:15 PM, Frank Krygowski wrote:

On 12/1/2024 5:11 PM, Catrike Ryder wrote:

On Sun, 1 Dec 2024 16:55:50 -0500, Frank Krygowski
<frkrygow@sbcglobal.net> wrote:
>

On 11/30/2024 4:13 PM, AMuzi wrote:

On 11/30/2024 2:00 PM, Catrike Ryder wrote:

On Sat, 30 Nov 2024 13:11:09 -0500, zen cycle
<funkmasterxx@hotmail.com> wrote:
>

>
https://www.usinflationcalculator.com/inflation/ current-inflation-
rates/

>
Yup, a hangover from the trump administration. It took Biden another two
years to fix it.
>

>

>
Biden was inaugurated on 1/20/21. Inflation was 1.4%. It began going
up as soon as Biden sat down in the oval office and signed 17
executive orders. It was  4% by April, 7% by the end of the year. It
kept going up and didn't hit 9% until Biden had been President for 17
months. Biden owns the inflation.
>
>
-- C'est bon
Soloman

>
There is an argument that both administrations spent irresponsibly* but
the immediate actions to suppress fuel production and transport had an
immediate and drastic effect.

>
All the reputable articles I've read say that yes, Biden's stimulus
efforts did add some to inflation; and BTW, so did Trump's stimulus
checks; but that those causes had far less effect than the COVID
pandemic and the invasion of Ukraine.
>
But I expect that nobody who voted for the Republican ticket will ever
agree. As with so many other issues, many people love simplistic
answers, especially if they can blame politicians they don't like.

>
Biden's inflationary policies are only one reason the voters rejected
Democrats. The Democrats ridiculous actions in response to Covid was
another... and those actions also added to inflation.

 That quick yap of a reply had a lag time of just 16 minutes.
 Does our tricycle rider have an alarm set up to alert him whenever I post?  ;-)
  

But Mr Tricycle's comment is true and relevant.
Aside from general fiscal and monetary errors, the widespread overreactions to the Wuhan virus at State/local levels suppressed production while cash transfers (a substantial proportion of which were outright fraud*) enhanced demand amid that reduced supply. Classic error.
*Regarding recent comments on the bureaucracy (a.k.a. Deep State), the opportunity for self dealing was compelling:
https://news.wttw.com/2024/11/26/watchdog-uncovers-least-72m-ppp-loan-fraud-illinois-state-employees
Or as Juvenal asked, "Who watches the watchers?"
--
Andrew Muzi
am@yellowjersey.org
Open every day since 1 April, 1971