Biden Inherited 9% Inflation Rate?

[Greenbeard]

It was 1.4% when Biden took office and skyrocketed to 9.1 six months later.

Absolutely nobody should be buying what this guy is spewing. Why make such an assinine statement that is easily fact checked?

Donald Trump's son responds after Biden claims he inherited 9% inflation when he came into office

Donald Trump's son responds after Biden claims he inherited 9% inflation when he came into office

Eric Trump swiped President Biden after the Democrat claimed he inherited 9% inflation when he took office in January 2021. His claim is factually wrong as inflation was 1.4% at the time.

www.foxnews.com

Of course he inherited it, the money supply spiked five-fold under Trump. The red line marks when Biden showed up:

 

[Cellblock2429]

Of course he inherited it, the money supply spiked five-fold under Trump. The red line marks when Biden showed up:

/——-/ Nice try, Gomer. The broad money supply is primarily created by commercial banks through the money multiplier mechanism. The Federal Reserve indirectly influences the supply of money, and until 2020, it used reserve requirements to ensure a minimum of reserve balances of commercial banks, but now relies on interest rates on reserves to influence banks' behavior. - Wikipedia

 

[Mac1958]

Look, I don't need damn Investopedia. The classic definition of inflation is too many dollars chasing too few goods. PERIOD. Anyone, any damn one, that had even a minimal education concerning Economics, at the High School level, would know that. Sucks to be stupid.

So again, while Trump was all but dropping dollars from helicopters, what did he do to address the supply chain issues? He was throwing dollars into the economy, doing nothing to increase the supply of goods, and now, suddenly, you want to blame Biden for inflation?

I mean some of us keep up with this shit. Two out of three dollars in the economy right now came from TRUMP. Again, unemployment at damn near record levels and personal incomes increase? WTF? Has never happened, EVER.

I got to be honest. Trump would take a big shit on the entire country if his sorry, micro-dick could still be in charge. The fact that you can't see that is indicative of just how damn ignorant you are.

There is absolutely no better example of the Dunning-Kruger Effect than a Trumpster lecturing others on economics and markets.

The inflation was inevitable, the reasons are blazingly clear, and they don't care. Worse, they also probably don't even understand them.

 

[imawhosure]

/——-/ Nice try, Gomer. The broad money supply is primarily created by commercial banks through the money multiplier mechanism. The Federal Reserve indirectly influences the supply of money, and until 2020, it used reserve requirements to ensure a minimum of reserve balances of commercial banks, but now relies on interest rates on reserves to influence banks' behavior. - Wikipedia

There is absolutely no better example of the Dunning-Kruger Effect than a Trumpster lecturing others on economics and markets.

The inflation was inevitable, the reasons are blazingly clear, and they don't care. Worse, they also probably don't even understand them.

The bottom line is not what caused the inflation; which you people are trying to deflect the conversation to so as not to have to admit (besides Mac) that Tater lied again.

I mean come on folks------->His uncle, or cousin got eaten by cannibals? His pastor got drafted by the Packers? Inflation was at 9%, etc!

That doesn't disqualify him from the Presidency though, at least not according to the constitution. But, it shows how weak some of you people are in responding. Just admit Joe has never met a lie he doesn't like if it makes him look good, and you are willing to accept this because the Orange dude is such a threat to whatever!

Also admit that just like we conservatives, this is all about ideology, and NOT the candidate. Just as we lambasted Obama, your side lambasted both Bush Presidents calling them both Nazis, along with Reagan. You skewered Mcain when he ran, along with Dole..........just as we did Gore.

But, here is the difference-------------->we continue to debate our ideas, against the ideas now in place by your people. On the other hand as with all elections........you want to debate PERSONALITIES! Until you fess up as to why, it is obvious that most of you think Leftist ideas stink, so you want to make all elections all about anything but policy!

 

[leftwinger]

What exactly do you think Biden did in his first 6 months that raised the inflation rate - all over the world - other than end the covid pandemic, and get people back to work?

Or was it that after being lockdown for 2 years, the first thing people did was to go shopping. I know it's the first thing I did. I don't like buying shoes or clothes online, and I lost weight while in lockdown, so my first outing was to the Outlet Mall for some retail therapy.

Everybody getting out and going shopping, before supply lines had resumed functioning, created shortages of everything, and prices rose with more and more people around the world, chasing fewer and fewer goods.

The profit and loss reports SHOULD have told you that Mrs. Day Trader.

opened up full force on WAR on OIL. 51 EO day 1 rattled the Globe with unnecessary communist America killing BS.

 

[leftwinger]

NO, you Trumpbots are hapless clowns, and FOOLS.

Biden may have misspoken. He didn't inherit 9% inflation, he just inherited a time bomb that resulted in that inflation.

Trump's completely inept response to Covid is the very foundation of that inflation. The supply chain went off the rails. Millions of pigs, yes, millions, were killed and buried because the supply chain couldn't process them. Did Trump do anything to curtail that supply chain problem. HELL NO. We could have sold those pigs to China but Trump was to busy having a pissing contest with China, that, by the way, he lost miserably.
Nope, Trump's response was just a little less than dropping money from helicopters. The PPP, paycheck protection plan, will go down in history as the most fraudulently plagued government program, EVER.

I mean here is the thing. The economy is in the shitter. Hundreds of thousands of people are laid off, and hundreds of thousands of others are too damn scared to leave the flippin house. And who is in charge, fawking the orange dumbass. Is that really the country you want to live in? Cheap gas because no one goes anywhere, no vacations, no eating out, no travel.

With the economy in the shitter, unemployment approaching depression era levels, personal incomes WENT UP. The absolute only time in the history of this country that has happened and all because of Trump's "stimulus checks".

Those checks were not targeted, and while I won't stand opposed to the additional unemployment benefits, although in many cases workers were drawing more income not working than they did working, that is a problem. And it was nothing more than Trump buying votes from DUMBASSES. With flippin tax money, I mean how damn foolish.

And from a personal perspective let me give you an example. My son is a research scientist, his wife was head of the ER at a local hospital. Funny, my son got covid, but he was working remote, he got no break. But his wife got two weeks off, paid.

And that is just it. Those stimulus checks, hell, they just banked them. After Biden took office, the supply chain problem was addressed, well they started letting go of some of that money, Multiply them by more than a hundred thousand and you can see, inflation was inevitable.

The Fed was absolutely asleep at the switch. But that is not surprising. They are reactive, not proactive, but even an amateur economist could see the writing on the wall.

,

You’re an Obiden spinning ArseJack. He & all his commee butt-buddies helped to laucnch & spread the man-made Fauci Flu virus. They all (D) worked overtime to shutdown the economy, keep kids out of school (no risk to youth), no business allowed open but big D donor companies on & on. Of coutse he inherited “it”, his own mess to clean up.
you really are a lying spinning pile of human waste.

 

[leftwinger]

That's more accurate.

of course it is to you, an Obiden fluffer. Now you calling your mushy middleists to back you up EH? Pantliner.

 

[Aldo Raine]

Yeah he's lying, he tends to do that again and again. Thanks

ZOMG, the irony!!!!!
MAGA

 

[Greenbeard]

The bottom line is not what caused the inflation;

Of course it is. If it’s due primarily to conditions in place before he showed up then he inherited it.

 

[Aldo Raine]

Poor ole' Joe would do anything for a thread movement.

But all the prune juice in the World...

Don doesn't worry about it, he just shits in his diaper!
MAGA

 

[leftwinger]

BI- Mac going both ways: mushy fence rider never has guts to just pick a side.

”Obiden lied”. (Few posts later, some blowbag says “Obiden inherited it”)

Mac then: Thats’s more accurate.
(EVERYBODY WINS, all get a trophy in MACland with his middle crew!). His own House on fire but little-MAC says not my problem.

 

[imawhosure]

Of course it is. If it’s due primarily to conditions in place before he showed up then he inherited it.

LOL, no it is not pertinent to this thread! The OP is asking if Biden lied, showing evidence, he is a liar. Who made you Lefties President whisperers, lol. You are TRANSLATING in the world according to you what he meant. In politics, that is called spin, or propaganda. Which ever of the descriptors you use to justify your actions, it shows exactly what I said before........totally weak! You are not addressing the question or statement he put forth, you are making excuses for it, lol.

 

[AntonToo]

It was 1.4% when Biden took office and skyrocketed to 9.1 six months later.

Absolutely nobody should be buying what this guy is spewing. Why make such an assinine statement that is easily fact checked?

FACT anyone with half a brain knows - inflation would have been ~9% six months after election no matter who was in the WH.

Such huge global economic shifts don't just happen out of nowhere, they are a result of the global economic disruptions that preceeded them.

So yes, obsolutely Biden has inherited it.

 

[Nostra]

FACT anyone with half a brain knows - inflation would have been 9% six months after election no matter who was in the WH.

Such huge economic shifts don't just happen out of nowhere.

So yes, obsolutely Biden has inherited it.

It wasn’t 9% 6 months after the election, dumbass.

 

[SassyIrishLass]

FACT anyone with half a brain knows - inflation would have been 9% six months after election no matter who was in the WH.

Such huge economic shifts don't just happen out of nowhere.

So yes, obsolutely Biden has inherited it.

But what was it when he took office?

Lol, you're all missing the point. Celery Stalk lied... again

 

[Greenbeard]

LOL, no it is not pertinent to this thread! The OP is asking if Biden lied, showing evidence, he is a liar. Who made you Lefties President whisperers, lol. You are TRANSLATING in the world according to you what he meant. In politics, that is called spin, or propaganda. Which ever of the descriptors you use to justify your actions, it shows exactly what I said before........totally weak! You are not addressing the question or statement he put forth, you are making excuses for it, lol.

There’s nothing to interpret. The money supply quintupled under Trump and supply chains collapsed. The fact that the economy was collapsed under Trump kept inflation in check for a few months but the moment Biden started fixing the economy and reopening the country it began rising. A period of inflation was baked in before Biden ever showed up. Luckily it was batted down in relatively short order.

 

[AntonToo]

But what was it when he took office?

Lol, you're all missing the point. Celery Stalk lied... again

The main point is that Biden inherited the inflation problem and it wasn't somehow his policy or persona that caused it in any significant way.

Technicality that it wasn't yet 9% on the exact day he set foot in office doesn't change that.

 

[SeaMajor7]

The main point is that Biden inherited the inflation and it wasn't somehow his policy or persona that caused it in any significant way.

Technicality that it wasn't yet 9% on the exact day he set foot in office doesn't change that.

 

[SassyIrishLass]

The main point is that Biden inherited the inflation problem and it wasn't somehow his policy or persona that caused it in any significant way.

Technicality that it wasn't yet 9% on the exact day he set foot in office doesn't change that.

What was inflation rate the day your pedo potato took office?

It wasn't 9%. That's a fact

 

[Lesh]

Inflation did not drop, stupid lying leftard.

Inflation very definitely dropped. It’s less than half of the peak

You’re clueless or lying