Inflation is entirely Biden's fault: argue with Milton Friedman, I dare you.

[LAUGHatLEFTISTS]

Is there a Cliff's Notes version? What is the point, exactly?

For example, is it Biden's fault that the Federal Reserve's balance sheet is over NINE TRILLION, after buoying the economies of Obama and Trump?

Is it Biden's fault that the NY Fed had to step in with another TWO TRILLION in 2019 to unfreeze short term credit markets?

Is it Biden's fault that global supply chains are STILL mangled, after having atrophied during the global COVID lockdowns and then buckling under massive new global demand when things opened up?

Detail would be helpful.

Yes to all because he’s been in congress for 40 years.

Anything else ?

 

[Toddsterpatriot]

I've posted tons of proof.

Just not any proof that........

you can deflate the money supply and have rising prices - like in Japan and Russia.

So post it already. Show that they're deflating their money supply.

Russia cannot inflate its currency because it does NOT RUN A DEFICIT.

LOL!

 

[RoshawnMarkwees]

Three out of four of the new dollars in circulation over the last two years came from the Trump administration. Friedman would be the first to tell you, this inflation is on Trump's back, not Biden. Especially considering that Biden has reduced the deficit and that reduction will be greater next year.

The inflation is from the free covid money given away during trump and then extended by Biden.
The production cost increases are directly and exclusively due to Biden energy policy.

 

[Toddsterpatriot]

Milton Friedman makes you look like the dumb idiot you are. I linked to where he explains inflation is due to deficit spending. Russia runs an account surplus. MORON

I'm not arguing with anything Friedman said.

I'm arguing with you. Because you're an idiot.

 

[Winston]

Two years ago, the Fed's balance sheet was $7.1 trillion. $7.4 trillion the week after Trump left office.
$8.95 trillion now. Looks like 84% was under Biden.

Recent balance sheet trends

The Federal Reserve Board of Governors in Washington DC.

www.federalreserve.gov

Especially considering that Biden has reduced the deficit

Thank goodness for Mancin, eh?

And per your chart it was 4.4 trillion on January 15, 2017. Trump added three trillion, Biden one and a half. That is a two to one ratio.

 

[Toddsterpatriot]

On this we agree, now listen to the Milton snip I sent you and understand WHY Russia is "deflating" its currency.

Post Russia's money supply, you'll see it has been increasing.

Prices are irrelevant.

You're funny.

 

[Toddsterpatriot]

And per your chart it was 4.4 trillion on January 15, 2017. Trump added three trillion, Biden one and a half. That is a two to one ratio.

You said in the last two years. You were way off.

Now you want to go back five years? Change your original claim.

 

[Bootney Lee Farnsworth]

Is there a Cliff's Notes version? What is the point, exactly?

For example, is it Biden's fault that the Federal Reserve's balance sheet is over NINE TRILLION, after buoying the economies of Obama and Trump?

Is it Biden's fault that the NY Fed had to step in with another TWO TRILLION in 2019 to unfreeze short term credit markets?

Is it Biden's fault that global supply chains are STILL mangled, after having atrophied during the global COVID lockdowns and then buckling under massive new global demand when things opened up?

Detail would be helpful.

It's government's fault. TRUTH

 

[RoshawnMarkwees]

And per your chart it was 4.4 trillion on January 15, 2017. Trump added three trillion, Biden one and a half. That is a two to one ratio.

Half in one fourth the time would be double.

 

[Toddsterpatriot]

Half in one fourth the time would be double.

Don't confuse him with math.

 

[22lcidw]

Is there a Cliff's Notes version? What is the point, exactly?

For example, is it Biden's fault that the Federal Reserve's balance sheet is over NINE TRILLION, after buoying the economies of Obama and Trump?

Is it Biden's fault that the NY Fed had to step in with another TWO TRILLION in 2019 to unfreeze short term credit markets?

Is it Biden's fault that global supply chains are STILL mangled, after having atrophied during the global COVID lockdowns and then buckling under massive new global demand when things opened up?

Detail would be helpful.

Stop making excuses. The most brutal attacks on a President happened under the Trump administration. Progs skewered Trump in every way every day. They still do. With all that, then Progs set themselves as the bringers of the golden key to open the doors to utopia. And they have been found to be the greatest bullshit artist on earth. But their whole system is still grinding down the people who are not Progs in every way every day. Biden gets some criticism though from time to time.

 

[ThomasSowellsFro]

Milton is a partisan hack. The 21st century has proved a lot of what he said is false. The free market does and can in fact cause inflation.

 

[lantern2814]

Three out of four of the new dollars in circulation over the last two years came from the Trump administration. Friedman would be the first to tell you, this inflation is on Trump's back, not Biden. Especially considering that Biden has reduced the deficit and that reduction will be greater next year.

Nice bullshit. Too bad the deficit only went down because Manchin and Sinema killed Xiden’s monstrous plans dead. And no more “Covid relief” spending. This inflation has ZERO to do with Trump no matter how much you leftards want it to be true.

 

[RoshawnMarkwees]

Milton is a partisan hack. The 21st century has proved a lot of what he said is false. The free market does and can in fact cause inflation.

A contrived market does that. Money printing.

 

[Winston]

You said in the last two years. You were way off.

Now you want to go back five years? Change your original claim.

No I wasn't. Do you really believe the moment Biden took office he controlled the spending. Biden ran on a Trump budget for the first year. Those extended unemployment benefits, Trump passed them. The corporate tax cut that reduced revenue, yep, that is on Trump. Trump and his Republican cohorts spent like drunken sailors that last year. I mean it is totally stupid to blame all this "new money" on Biden's infrastructure bill when it is barely off the ground and yet ignore all the spending Trump did with his last budget. Same with those extended unemployment benefits that you dumbshits complain about so often. You sure weren't complaining when Trump signed them. And they have been gone for more than half a year now. What happened to that deluge of workers that were going to show up when they were cut off? My staffing issues haven't improved a bit, and I know my former employer is in even worse shape Of course, I told them they were delusional, kind of like you.

Biden has reduced the deficit, and looking forward, there are going to be more reductions. Did not Friedman say inflation was due to deficit spending? When Trump took offic e the national debt stood at 19.9 trillion, when he left, it hit 27 trillion three months before he left office. That is over seven trillion dollars that Trump added to the money supply, and then he ran to Florida.

https://www.thebalance.com/trump-plans-to-reduce-national-debt-4114401.

Biden touts $1.5 trillion budget deficit reduction â but he's not telling the whole story

President Joe Biden touted sizable reductions in the federal deficit in the current fiscal year as part of his administration's economic savvy.

www.cnbc.com

The second link is very interesting. It does not argue that Biden will have cut the deficit by 1.5 trillion dollars this year. It just throws in "buts", and even makes excuses for the Trump excess. So much for the left bias of the media, and CNBC at that. It even attempts to blame the build back America plan, which has not even passed and has had zero effect on current spending. Not to mention that the article absolutely ignores the revenue generation plans of the proposal, other than to proclaim they would be "bad", go figure.

Reagan knew, one way to fight inflation is to increase taxes, which is why he passed the largest tax increase in American history at the time.

Fact Checking the GOP: Largest Tax Increase in Modern History Was Under President Reagan, Not President Obama

Republicans are already claiming the President’s deficit reduction plan is the largest tax increase in history. But unfortunately for them, the facts don’t back them up. Drawing straight from their source, here are the facts: The Treasury Department working paper they’ve referenced compares...

www.majorityleader.gov

1982, and it flippin worked. But corporations and high income individuals don't give two shits about what works, or even if everyday Americans have to pay more at the pump and the grocery store. And they are the ones that control the Republican party. Unless you make a quarter million dollars a year, you are little more than a useful idiot trumpeting the Republican agenda. And while I might not make that much, but I have children that do, and even they realize the Republican agenda is warped as hell.

 

[DarthTrader]

Biden's a democrat. Democrats have ballooned the QE/money printing since Obama.

 

[KissMy]

Nice bullshit. Too bad the deficit only went down because Manchin and Sinema killed Xiden’s monstrous plans dead. And no more “Covid relief” spending. This inflation has ZERO to do with Trump no matter how much you leftards want it to be true.

You are retarded. Manchin and Sinema are Democrats who played their part in political theater as cover for Democrats eliminating Trumps Record Deficits. Biden now has a Record Surplus!

 

[Bootney Lee Farnsworth]

Milton is a partisan hack. The 21st century has proved a lot of what he said is false. The free market does and can in fact cause inflation.

Only one thing causes inflation, dip shit.

PRINTING MONEY

PERIOD

END OF DISCUSSION

 

[Toddsterpatriot]

No I wasn't. Do you really believe the moment Biden took office he controlled the spending. Biden ran on a Trump budget for the first year. Those extended unemployment benefits, Trump passed them. The corporate tax cut that reduced revenue, yep, that is on Trump. Trump and his Republican cohorts spent like drunken sailors that last year. I mean it is totally stupid to blame all this "new money" on Biden's infrastructure bill when it is barely off the ground and yet ignore all the spending Trump did with his last budget. Same with those extended unemployment benefits that you dumbshits complain about so often. You sure weren't complaining when Trump signed them. And they have been gone for more than half a year now. What happened to that deluge of workers that were going to show up when they were cut off? My staffing issues haven't improved a bit, and I know my former employer is in even worse shape Of course, I told them they were delusional, kind of like you.

Biden has reduced the deficit, and looking forward, there are going to be more reductions. Did not Friedman say inflation was due to deficit spending? When Trump took offic e the national debt stood at 19.9 trillion, when he left, it hit 27 trillion three months before he left office. That is over seven trillion dollars that Trump added to the money supply, and then he ran to Florida.

https://www.thebalance.com/trump-plans-to-reduce-national-debt-4114401.

Biden touts $1.5 trillion budget deficit reduction â but he's not telling the whole story

President Joe Biden touted sizable reductions in the federal deficit in the current fiscal year as part of his administration's economic savvy.

www.cnbc.com

The second link is very interesting. It does not argue that Biden will have cut the deficit by 1.5 trillion dollars this year. It just throws in "buts", and even makes excuses for the Trump excess. So much for the left bias of the media, and CNBC at that. It even attempts to blame the build back America plan, which has not even passed and has had zero effect on current spending. Not to mention that the article absolutely ignores the revenue generation plans of the proposal, other than to proclaim they would be "bad", go figure.

Reagan knew, one way to fight inflation is to increase taxes, which is why he passed the largest tax increase in American history at the time.

Fact Checking the GOP: Largest Tax Increase in Modern History Was Under President Reagan, Not President Obama

Republicans are already claiming the President’s deficit reduction plan is the largest tax increase in history. But unfortunately for them, the facts don’t back them up. Drawing straight from their source, here are the facts: The Treasury Department working paper they’ve referenced compares...

www.majorityleader.gov

1982, and it flippin worked. But corporations and high income individuals don't give two shits about what works, or even if everyday Americans have to pay more at the pump and the grocery store. And they are the ones that control the Republican party. Unless you make a quarter million dollars a year, you are little more than a useful idiot trumpeting the Republican agenda. And while I might not make that much, but I have children that do, and even they realize the Republican agenda is warped as hell.

No I wasn't. Do you really believe the moment Biden took office he controlled the spending.

You weren't talking about the deficit in post #6 when you referenced "the new dollars in circulation over the last two years".

Biden has reduced the deficit, and looking forward, there are going to be more reductions.

Yeah, Biden is an amazing deficit hawk. LOL!

Did not Friedman say inflation was due to deficit spending?

No.

“Inflation is always and everywhere a monetary phenomenon in the sense that it is and can be produced only by a more rapid increase in the quantity of money than in output.”

That is over seven trillion dollars that Trump added to the money supply, and then he ran to Florida.

The national debt is not equal to the money supply.

 

[lantern2814]

You are retarded. Manchin and Sinema are Democrats who played their part in political theater as cover for Democrats eliminating Trumps Record Deficits. Biden now has a Record Surplus!

Cry harder liar. Your deficit only “dropped” because they killed your stupid plans. And you cried about that. Constantly lying doesn’t make your shit true retard. Kiss your Dear Leader Xiden’s ass some more.