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All of the world economically viable nations have been printing more money after the recession of the 2000s, not just "Biden." Increased liquidity has incidenta
by greenhearth 3y ago
All of the world economically viable nations have been printing more money after the recession of the 2000s, not just "Biden." Increased liquidity has incidental effects on inflation, which comes from different factors, like resource scarcity, tariff increases and price gouging.
- WalterBright 3y agoYou're right that all countries switched from the gold standard to fiat money so they could inflate it, and inflate it they did. What Biden did recently, however, was a truly massive spike in deficit spending, thus spiking inflation a few months later.
- greenhearth 3y agoNo, they brought down inflation rate, which spiked after the pandemic and increase of international tariffs. But maybe you are the type blinded by political outrage
- WalterBright 3y agoYou might want to look at a chart of deficit spending: https://fred.stlouisfed.org/series/FYFSD https://fred.stlouisfed.org/series/FYFSD What do you think a $3,200,000,000,000 deficit in just one year might mean to the economy? Do you see the part where the deficit dropped to $1,300,000,000,000 and "they brought down the inflation part"?
- seanmcdirmid 3y agoYour chart shoes deficit spending going down since Biden took office (lower means more negative). The -$3,200,000,000,000 deficit number you quote happened in 2020, Biden was sworn in in 2021. I’m not clear about the point you are trying to make.
- seanmcdirmid 3y agoDeficit spending has actually been falling under Biden when compared to Trump. But of course, that comes from a huge spike at the end of the Trump administration (the same situation for Obama after Bush).