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by matwood 589 days ago
Yeah. Unless a POTUS is in for 8 years they almost never get to experience the full results of their economic policies.

Biden inherited an inflation time bomb which has been handled. I expect Trump will claim he fixed inflation the first report that comes out after the inauguration.
2 comments
mindslight 589 days ago
A thousand times this. I don't know that Trump could have done a better job at economic sabotage when in office the first time. Printed trillions of dollars of undirected helicopter money when monetary velocity was low, which immediately went into asset inflation ("the stock market is great"). Then when things started moving again, it all started chasing goods and we got broad price inflation on top of acute shortages. The fact that the democrats just let the republicans hang Trump's economic destruction around their neck really shows how utterly inept they are at messaging. I shudder to think what inflation will be at in four years after a return to ZIRP corporate welfare and the next national emergency that's left to fester.
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throwaway2037 589 days ago
"inflation time bomb". I never saw that term before. What was the primary cause of simultaneous inflation in all highly advanced economies, and how was Trump responsible for the US component?
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matwood 589 days ago
He wasn't responsible for all of it. COVID supply chain disruption obviously played a huge part, but it's like everyone has forgotten that Trump also sent out a huge amount of money[1]. We can debate if that was the wrong/right move, but it's annoying when people blame Biden for the inflation that inevitably came once the economy turned back around. Trump has as much if not more responsibility depending on how you look at it. Meanwhile, the Fed under a Biden administration has seemingly engineered a soft landing.

Trump also pressed SA to cut oil production to help prop up gas prices in the US [2]. So when the economy turned demand surged back pushing prices higher.

[1] https://www.investopedia.com/coronavirus-aid-relief-and-econ...

[2] https://www.reuters.com/article/economy/special-report-trump...

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