Biden Admin Explains What's Really Behind Inflation Numbers

[Jim H - VA USA]

The White House has attempted some damage control after Biden's recent major erroneous statement related to inflation being 9% at the end of the Trump term when in reality it was 1.4%.

The Admin again tries to blame greedy corporations for high prices, but in doing so, the fundamental incompetence of the Biden Admin when it comes to basic economics is revealed for all to see...

On Friday, Senior Deputy Press Secretary Andrew Bates released the following memo to Democrat Allies....

The Admin is so clueless, it thinks that when inflation falls to 3.4% from 9%, that prices decline!

That is not what happens, of course. The high prices are here to stay, they just increase more slowly.

First they claimed inflation would be transitory; then they blamed Trump (who handed Biden 1.4% inflation); then they blamed the "Putin Price hike" (which was another falsehood as it's far-fetched to think Putin's invasion of Ukraine would affect prices of US goods so dramatically); and then they blamed greedy corporations (many of whom are struggling to make ends meet as well).

The real root cause lies clearly in the current occupiers of the Oval Office, and all the chambers nearby which were filled with incompetent picks from our Commander in Chief.

The whole Admin is full of utter incompetence; it's no wonder the economy and America in general are on such a drastic trajectory of decline.

How Biden is winning over corporate America behind closed doors

Biden hosted CEOs of United Airlines, Citigroup and Marriott International for a private roundtable at the White House earlier in May.

www.nbclosangeles.com

https://www.axios.com/2024/05/20/biden-inflation-us-economy

 

[Catsnmeters]

The White House has attempted some damage control after Biden's recent major erroneous statement related to inflation being 9% at the end of the Trump term when in reality it was 1.4%.

The Admin again tries to blame greedy corporations for high prices, but in doing so, the fundamental incompetence of the Biden Admin when it comes to basic economics is revealed for all to see...

On Friday, Senior Deputy Press Secretary Andrew Bates released the following memo to Democrat Allies....

View attachment 949986

The Admin is so clueless, it thinks that when inflation falls to 3.4% from 9%, that prices decline!

That is not what happens, of course. The high prices are here to stay, they just increase more slowly.
First they blamed Trump (who handed Biden 1.4% inflation), then they blamed the "Putin Price hike" (which was another falsehood as it's far-fetched to think Putin's invasion of Ukraine would affect prices of US goods so dramatically), and then they blamed greedy corporations (many of whom are struggling to make ends meet as well).

The real root cause lies clearly in the current occupiers of the Oval Office, and all the chambers nearby which were filled with incompetent picks from our Commander in Chief.

The whole Admin is full of utter incompetence; it's no wonder the economy and America in general are on such a drastic trajectory of decline.

How Biden is winning over corporate America behind closed doors

Biden hosted CEOs of United Airlines, Citigroup and Marriott International for a private roundtable at the White House earlier in May.

www.nbclosangeles.com

https://www.axios.com/2024/05/20/biden-inflation-us-economy

How did Trump get inflation so low? (1.4).

 

[bendog]

How did Trump get inflation so low? (1.4).

like everything else he accomplished. He inherited it, and it rose during his term.

Inflation, consumer prices for the United States

Graph and download economic data for Inflation, consumer prices for the United States (FPCPITOTLZGUSA) from 1960 to 2022 about consumer, CPI, inflation, price index, indexes, price, and USA.

fred.stlouisfed.org

 

[Marener]

Economists and experts really don't understand inflation all that well. There are theories and principles which make sense, but in the real world it's far more complicated.

The US was flooded with cheap money for over a decade before the pandemic and inflation never went up. Why not? No one really knows.

 

[Catsnmeters]

like everything else he accomplished. He inherited it, and it rose during his term.

Inflation, consumer prices for the United States

Graph and download economic data for Inflation, consumer prices for the United States (FPCPITOTLZGUSA) from 1960 to 2022 about consumer, CPI, inflation, price index, indexes, price, and USA.

fred.stlouisfed.org

I was thinking it was because of the pandemic.

Trump supporters trying to play both ends

One minute they espouse Trump's low inflation and the next they are blaming the pandemic for the economic crash.

They want it both ways and anyone who claims Trump had low inflation without providing the context of the pandemic is a dishonest Trump cheerleader.

 

[Jim H - VA USA]

like everything else he accomplished. He inherited it, and it rose during his term.

Inflation, consumer prices for the United States

Graph and download economic data for Inflation, consumer prices for the United States (FPCPITOTLZGUSA) from 1960 to 2022 about consumer, CPI, inflation, price index, indexes, price, and USA.

fred.stlouisfed.org

You don't inherit a 1.4% inflation rate after four years in office!

Sheesh.

 

[marvin martian]

The White House has attempted some damage control after Biden's recent major erroneous statement related to inflation being 9% at the end of the Trump term when in reality it was 1.4%.

The Admin again tries to blame greedy corporations for high prices, but in doing so, the fundamental incompetence of the Biden Admin when it comes to basic economics is revealed for all to see...

On Friday, Senior Deputy Press Secretary Andrew Bates released the following memo to Democrat Allies....

View attachment 949986

The Admin is so clueless, it thinks that when inflation falls to 3.4% from 9%, that prices decline!

That is not what happens, of course. The high prices are here to stay, they just increase more slowly.
First they blamed Trump (who handed Biden 1.4% inflation), then they blamed the "Putin Price hike" (which was another falsehood as it's far-fetched to think Putin's invasion of Ukraine would affect prices of US goods so dramatically), and then they blamed greedy corporations (many of whom are struggling to make ends meet as well).

The real root cause lies clearly in the current occupiers of the Oval Office, and all the chambers nearby which were filled with incompetent picks from our Commander in Chief.

The whole Admin is full of utter incompetence; it's no wonder the economy and America in general are on such a drastic trajectory of decline.

How Biden is winning over corporate America behind closed doors

Biden hosted CEOs of United Airlines, Citigroup and Marriott International for a private roundtable at the White House earlier in May.

www.nbclosangeles.com

https://www.axios.com/2024/05/20/biden-inflation-us-economy

Don't worry, we all know. Only the bottom of the Biden cult barrel believes his lies about "corporate greed", "Putin price-hikes" and 9% inflation when he took office. All the sane people know that's horseshit.

 

[DukeU]

I was thinking it was because of the pandemic.

Trump supporters trying to play both ends

One minute they espouse Trump's low inflation and the next they are blaming the pandemic for the economic crash.

They want it both ways and anyone who claims Trump had low inflation without providing the context of the pandemic is a dishonest Trump cheerleader.

Trump began his presidency in 2017, three years before the plandemic.

 

[Foxfyre]

The White House has attempted some damage control after Biden's recent major erroneous statement related to inflation being 9% at the end of the Trump term when in reality it was 1.4%.

The Admin again tries to blame greedy corporations for high prices, but in doing so, the fundamental incompetence of the Biden Admin when it comes to basic economics is revealed for all to see...

On Friday, Senior Deputy Press Secretary Andrew Bates released the following memo to Democrat Allies....

View attachment 949986

The Admin is so clueless, it thinks that when inflation falls to 3.4% from 9%, that prices decline!

That is not what happens, of course. The high prices are here to stay, they just increase more slowly.
First they blamed Trump (who handed Biden 1.4% inflation), then they blamed the "Putin Price hike" (which was another falsehood as it's far-fetched to think Putin's invasion of Ukraine would affect prices of US goods so dramatically), and then they blamed greedy corporations (many of whom are struggling to make ends meet as well).

The real root cause lies clearly in the current occupiers of the Oval Office, and all the chambers nearby which were filled with incompetent picks from our Commander in Chief.

The whole Admin is full of utter incompetence; it's no wonder the economy and America in general are on such a drastic trajectory of decline.

How Biden is winning over corporate America behind closed doors

Biden hosted CEOs of United Airlines, Citigroup and Marriott International for a private roundtable at the White House earlier in May.

www.nbclosangeles.com

https://www.axios.com/2024/05/20/biden-inflation-us-economy

The administration is so inept when it comes to economics that it really does believe it can micromanage it in ways as you described. They have no concept of cause and effect beyond the immediate situation and that's one of the reasons we're in the mess we are in.

They don't understand that when Biden threatens to end fossil fuels that the oil companies will make as much profit as they can while they are still able? That isn't greed. It's self preservation.

They don't understand that if they are successful in ordering what profits any company can make that it results in shortages of whatever products or services are immediately affected and that raises prices or takes away the product or service entirely for millions of Americans?

They don't understand that inflation affects businesses too who have to compensate for higher infrastructure costs, utilities, raw materials, transportation, salary pressures, etc. etc. etc. and, if Biden is re-elected, by the end of next year much MUCH higher taxes that will also increase inflation. Certainly many businesses are looking at that and compensating for future reduced profits now.

They don't understand that pouring trillions of dollars of government money into the economy with little or nothing to show for it dilutes the value of the dollar costing Americans many more dollars to buy what they need while their incomes are not rising fast enough to cover that extra expense? And when I mean nothing to show for it, one example is that 2021 extravagant 'inflation reduction' bill included 10,000 charging stations for electric vehicles. The government has now built eight. That wouldn't be anywhere nearly enough for most cities of any size let along the entire country when fossil fuel is outlawed.

The Biden administration continues to be the most ignorant, most ineffective, most destructive, most chaotic administration in the history of the United States.

 

[bendog]

You don't inherit a 1.4% inflation rate after four years in office!

Sheesh.

well that explains maga. can't read a graph. lol

 

[Edgetho]

Don't worry, we all know. Only the bottom of the Biden cult barrel believes his lies about "corporate greed", "Putin price-hikes" and 9% inflation when he took office. All the sane people know that's horseshit.

Don't be so sure.

The capacity of dimocrap scum for self-delusion and ignorance are unmatched in human history

 

[Faun]

You don't inherit a 1.4% inflation rate after four years in office!

Sheesh.

1.4% was up from 0.1%. That's a 1300% increase.

 

[Jim H - VA USA]

How did Trump get inflation so low? (1.4).

Sound economic policies of course....

• Ample energy supply
• Record employment
• Removal of unnecessary and burdensome regulations,
• Focus on qualifications rather than skin color or gender,
• Peace through strength, controlling the border,
• Making other countries pay their fair share,
• Renegotiating bad trade deals....

Consumer Price Index for All Urban Consumers: All Items in U.S. City Average

View data of the CPI, or an inflation measure derived from tracking the changes in the weighted-average price of a basket of common goods and services.

fred.stlouisfed.org

 

[Catsnmeters]

Trump began his presidency in 2017, three years before the plandemic.

Yep.

 

[Catsnmeters]

Sound economic policies of course....

• Ample energy supply
• Record employment
• Removal of unnecessary and burdensome regulations,
• Focus on qualifications rather than skin color or gender,
• Peace through strength, controlling the border,
• Making other countries pay their fair share,
• Renegotiating bad trade deals....

View attachment 949999

Consumer Price Index for All Urban Consumers: All Items in U.S. City Average

View data of the CPI, or an inflation measure derived from tracking the changes in the weighted-average price of a basket of common goods and services.

fred.stlouisfed.org

Historical Inflation Rates: 1914-2024

The table displays historical inflation rates with annual figures from 1914 to the present. These inflation rates are calculated using the Consumer Price Index, which is published monthly by the Bureau of Labor Statistics (BLS) of the U.S. Department of Labor. The latest BLS data, covering up to...

www.usinflationcalculator.com

That's weird. It looks like Trump had inflation rising after he took over for Obama but then, COVID hit and inflation fell.

I wonder why?

 

[Independent thinker]

The White House has attempted some damage control after Biden's recent major erroneous statement related to inflation being 9% at the end of the Trump term when in reality it was 1.4%.

The Admin again tries to blame greedy corporations for high prices, but in doing so, the fundamental incompetence of the Biden Admin when it comes to basic economics is revealed for all to see...

On Friday, Senior Deputy Press Secretary Andrew Bates released the following memo to Democrat Allies....

View attachment 949986

The Admin is so clueless, it thinks that when inflation falls to 3.4% from 9%, that prices decline!

That is not what happens, of course. The high prices are here to stay, they just increase more slowly.

First they claimed inflation would be transitory; then they blamed Trump (who handed Biden 1.4% inflation); then they blamed the "Putin Price hike" (which was another falsehood as it's far-fetched to think Putin's invasion of Ukraine would affect prices of US goods so dramatically); and then they blamed greedy corporations (many of whom are struggling to make ends meet as well).

The real root cause lies clearly in the current occupiers of the Oval Office, and all the chambers nearby which were filled with incompetent picks from our Commander in Chief.

The whole Admin is full of utter incompetence; it's no wonder the economy and America in general are on such a drastic trajectory of decline.

How Biden is winning over corporate America behind closed doors

Biden hosted CEOs of United Airlines, Citigroup and Marriott International for a private roundtable at the White House earlier in May.

www.nbclosangeles.com

https://www.axios.com/2024/05/20/biden-inflation-us-economy

LOL. Who could have seen that coming, democrats blaming inflation on greedy companies instead of themselves?

 

[Jim H - VA USA]

well that explains maga. can't read a graph. lol

Read. Are you being dishonest or just incorrect...

Consumer Price Index for All Urban Consumers: All Items in U.S. City Average

View data of the CPI, or an inflation measure derived from tracking the changes in the weighted-average price of a basket of common goods and services.

fred.stlouisfed.org

 

[wamose]

Biden's economic advisor, Jared Bernstein, was a music major in college who thinks printing money is the solution to Biden's dogshit economy. Fucking genius, right. Biden has managed to surround himself with the most useless collection of dipshits ever assembled, so it should be no big surprise that his administration is such a colossal failure. The whole damn administration sounds like KJP, trying to explain away their never-ending string of fuckups. DEI and socialism is what brought our government to this lowly place and Democrat commies are the ones pushing DEI and socialism. Democrats gotta go before our country collapses. MAGA