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Politics soils everything it touches. So, they're convinced (supposedly) that it was all on Biden. Meh.There is likely more inflation coming down the pike in Jan and Feb, especially as oil and commodities and logistics are likely to cost more (unless the Red Sea attacks end quickly), and of course the Ukraine War and substantial decoupling/reshoring from China (which actually internally is facing deflation) continues.
I agree the U.S. is in far better shape than Europe and third world states, or Russia, and even Asian allies like Japan and Korea and Australia will likely suffer worse economies than we in the next immediate period.
The idiots think it is all about President Biden, as if he invaded Ukraine or launched a huge terror attack from Gaza or is now responsible for Houthi/Iranian attacks in the Red Sea.
The traitors and friends of overseas authoritarians, MAGA types who want to abandon Ukraine and support Putin (and his allies Iran and North Korea) blame the Biden Administration for everything. I hold Biden responsible for mishandling the Southern border issues, but otherwise his administration and especially the Fed (so far) have helped the U.S. economy recover strongly.
Short term the U.S. economy is actually benefitting in some ways from Putin’s bloody invasion of Ukraine (our export hydrocarbon and war industries in particular), but the reality of increasing international decoupling, logistics and war ultimately works against economic progress and cause inflation. Factory building on the U.S. remains at very high levels, a good sign for the future.
One shouldn’t look only at the U.S. domestic economy or presently lower (at last!) commodity inflation rates or the very high stock market or the still good labor market in the U.S. to conclude the future is rosy and Biden deserves all the credit. Many things are outside the effective control of any President.
Strange my home owners insurance AND auto insurance is down a bit. Motorcycle insurance is up just slightly.30 year old cars don't cost much to ensure when you put the legal minimum on it. Doesn't mean its not going up. Homeowners insurance under Trump: 900 dollars a year. Same insurance under Biden: 2300 dollars a year. Car insurance under Trump: 27 dollars a month Under Biden: 49 dollars a month.
Yes, no matter how you want to do a CNN spin, inflation is killing America.
www.cnbc.com
/----/ Dementia Joe says, HOLD MY BEER. I can beat that.Inflation ticked up a little in December on the back of higher costs for housing and car insurance.
The overall cost of living in December was up 3.4% from a year ago, a slightly larger increase than the 3.1% rate in November, according to data from the Labor Department on Thursday.
The cost of motor vehicle insurance rose 1.5% in December from the previous month, marking a 20.3% increase compared to the previous year.
The cost of housing accounted for more than half the monthly increase in consumer prices. Food and energy prices were also up in December. The so-called "core" inflation rate, which excludes food and energy prices, was 3.9% last month.
Not to worry, I'm sure many libs got a 20 percent wage increase to offset their car insurance, and another 4% increase last month.
https://www.npr.org/2024/01/11/1224044520/cpi-inflation-december-labor-department-interest-rate-fed
www.investors.com
Unless it is 2020 then it is not Trump's fault for the economy.Politics soils everything it touches. So, they're convinced (supposedly) that it was all on Biden. Meh.
There are FAR too many currents (both globally and domestically) to pin a current economy on the President. But the partisans will always do it, if it makes them look "good".
