Is Biden at fault for the worse inflation rate in 40 years?

[task0778]

When inflation is rising too much, you should be trying to reduce or stop the addition of more money into the economy because that acerbates the problem. I.E., reduce gov't spending, which obviously he hasn't done and won't do.

 

[pknopp]

Oh for sure and if this

San Francisco voters oust three school board members in recall vote, CNN projects​

in the bluest of blue areas of a blue state happens... hmmm...

San Francisco voters oust three school board members in recall vote, CNN projects

Three San Francisco School Board members were removed from their positions by voters on Tuesday, CNN projects, following a tough recall campaign that pitted Democrats against Democrats as interlocking controversies over school closings and renamings fueled a well-funded backlash.

www.cnn.com

I wouldn't get too pleased. The (R)'s will then get hammered after taking over also.

 

[Couchpotato]

Where did you get this? You could have made this up! Provide a link so logical rational readers can verify you post because JUST cause you put it up doesn't mean it isn't MADE UP!

Do you really think he created that so he could prove you wrong on an internet message board?

 

[Couchpotato]

Do you believe these FACTS?
U.S. energy production in 2019 was higher than U.S. energy consumption for the first time in 62 years.
Thus, the U.S. attained the long-held goal of “energy independence”—

The United States Was Energy Independent in 2019 for the First Time Since 1957

U.S. energy production in 2019 was higher than U.S. energy consumption for the first time in 62 years. Thus, the…

www.instituteforenergyresearch.org

Do you believe that 25% of nation's oil production is done on Federal lands?
Oil from federal lands tops 1B barrels as Trump eases rules
So the ONE place a President can have a direct effect on gas prices is providing Federal Lands (again where 25% of oil production comes from) for exploration. BIDEN has banned this!

Biden Ban on Public Lands to Cost Economy $670 Billion Over 20 Years​

By 2040, Gross Domestic Product (GDP) would decline by $670.5 billion and average annual job losses would exceed 351,000 across the West.

Biden Ban on Public Lands to Cost Economy $670 Billion Over 20 Years | North Dakota Petroleum Council

www.ndoil.org

I didnt say Presidents dont have some effect on the economy. We (the nation) just attribute way too much of what's happening to them or not depending on which way it's going and if your guy's in office or not.

 

[healthmyths]

I didnt say Presidents dont have some effect on the economy. We (the nation) just attribute way too much of what's happening to them or not depending on which way it's going and if your guy's in office or not.

I am pointing out ONE specific action totally at Biden's direction. By banning exploration on land that produces 25% of our gas logic, business sense and just common sense would conclude...hmm the source of oil is being reduced... need to raise the price as our supply has been reduced!
That simple.

 

[healthmyths]

Do you really think he created that so he could prove you wrong on an internet message board?

BUT he didn't provide the link and therefore he made it up! HE made the map. Otherwise why not attribute and proof it.

 

[Faun]

BUT he didn't provide the link and therefore he made it up! HE made the map. Otherwise why not attribute and proof it.

Yes, I did provide a link. Even had I not, the map is not an attachment I uploaded. It too has a link.

Face reality... you just didn't want to deal with what I was said, so you ran.

 

[healthmyths]

Yes, I did provide a link. Even had I not, the map is not an attachment I uploaded. It too has a link.

Face reality... you just didn't want to deal with what I was said, so you ran.

NO you didn't or I would have clicked on it. Provide it again if you have it! How juvenile by the way your dumb ass emoji really speaks volumes of your intelligence!

 

[Faun]

NO you didn't or I would have clicked on it. Provide it again if you have it! How juvenile by the way your dumb ass emoji really speaks volumes of your intelligence!

[edit: removed obnoxious post since healthmyths found the link]

 

[healthmyths]

Yes, I did provide a link. Even had I not, the map is not an attachment I uploaded. It too has a link.

Face reality... you just didn't want to deal with what I was said, so you ran.

No I was wrong. I didn't click on the map the first time. So you did provide a link that I just didn't realize as I generally show the link as I don't like to assume.

 

[busybee01]

Prove it! Where are your links? Your substantiation?

Try looking it up.

"With crude still at $70 a barrel, even after a big dip caused by the emergence of the omicron variant of Covid-19, there would seem to be plenty of room to boost production with many areas of the U.S. flush with oil that would cost $50 or less to produce, according to IHS Markit data. And indeed, production has recovered to about 11.7 million barrels per day, helping to spur an 11-cent drop in gasoline prices in the last month.

But the most conspicuous part of the production jump has come from producers whose stock isn’t publicly traded, according to experts. Privately owned oil and gas exploration firms are moving faster because they don’t have the day-to-day shareholder pressure that has made CEOs and CFOs of bigger drilling companies change their tactics. One sign that the pressure is still working: The number of U.S. oil wells that have been drilled but are not completed, or ready to begin pumping, is still down more than 30% since 2018, according to government data.

The question is how long the restraint by publicly traded oil companies will last. Glickman is betting that it will be durable, with capital spending around $135 billion next year – less than half of 2014′s level. Kloza suspects the discipline will break down sooner, helping gas prices keep falling. "

Why isn't Big Oil drilling more as gas prices surge? The answer is more Wall Street than White House

Behind the 38% surge in pump prices this year is a 24% drop in domestic crude production after Covid, but not for the reasons you think.

www.cnbc.com

 

[Kondor3]

Biden inflation hits 40-year high… Rick Santelli breaks it down…

At least crack pipes are free U.S. inflation accelerated in January, with prices across a wide range of goods and services soaring further amid lingering shortages and supply chain disruptio…

citizenfreepress.com

Biden inflation hits 40-year high… Rick Santelli breaks it down…​

So why is it Biden's "inflation"? Well among many reasons here is one dominate one!
Every day Americans buy an average of about 338 million gallons per day (or about 8.05 million barrels per day).

Frequently Asked Questions (FAQs) - U.S. Energy Information Administration (EIA)

www.eia.gov

So when gas rises in price nearly 40% from what it was a year ago... that means every day gas cost Americans $334 million a day MORE
than a year ago.
So why is it Biden's "Inflation"... ONE major reason...
Biden shut off oil exploration on land that produces 25% of Americans oil.
He then begs OPEC to pump more gas while restricting American oil producers!
He then releases 50 million barrels from the strategic oil reserves!
These three Biden actions CAUSED gas prices to increase for Americans by $334 million a DAY!
Folks... if that doesn't add to inflation...wow are those of you who don't think Biden's at fault... You don't understand economics...at all!

View attachment 599629

Yes.

At least in large part.

He screwed-around with the oil supply and pipelines.

Everything else domino'ed after that.

 

[Couchpotato]

BUT he didn't provide the link and therefore he made it up! HE made the map. Otherwise why not attribute and proof it.

I like to win internet message board arguments as much as the next guy but even if he hadn’t linked it I would have assumed he didn’t make it. That’s way too much work to win an argument with someone I don’t even know.

no link doesn’t necessarily mean made up.

 

[dudmuck]

Health, History teaches all things!

When Carter and his administration did its thing, Reagan was elected and his administration reversed monetary course to stop inflation, and re-ignite the economy.

Lefts will say, yeah but!

Well then, look what happened with Japan! Same type of crap Biden was doing today, inflation out of control, and they reversed course. Inflation paused, then started to drop. Once the money supply came into a reasonable balance of goods and services, inflation dried up, and the economy came back.

Many more examples are out there if you just look across the globe and through history. And all of the examples tell you that Biden did, and is doing the wrong thing.

With that being said, I don't blame it 100% on Biden, I blame it on his administration. But, then again, the buck stops at his desk. So in a round about way, it is on Biden, although the far Leftists will sacrifice him, to deflect the blame of their counsel!

its just like they blamed Obama for the subprime mortgage meltdown, aka the "great recession". The subprime mortgage meltdown was gaining full steam during the mccain-obama campaign. Then it peaked a month or two after Obama went into office. Yet somehow blamed even though there was no time yet to implement anything.

Today the inflation is global. I'd like to hear how Biden is responsible for British inflation.

 

[Couchpotato]

its just like they blamed Obama for the subprime mortgage meltdown, aka the "great recession". The subprime mortgage meltdown was gaining full steam during the mccain-obama campaign. Then it peaked a month or two after Obama went into office. Yet somehow blamed even though there was no time yet to implement anything.

Today the inflation is global. I'd like to hear how Biden is responsible for British inflation.

I dont remember anyone blaming Obama for the subprime mortgage debacle. They blamed predatory lending, dumb homebuyers, the credit agencies, the dot com bubble busting, and Bush. But I don’t remember any real blame landing on President Obama. He spent his entire Presidency blaming the last Admin for anything that was bad with the economy.

 

[healthmyths]

its just like they blamed Obama for the subprime mortgage meltdown, aka the "great recession". The subprime mortgage meltdown was gaining full steam during the mccain-obama campaign. Then it peaked a month or two after Obama went into office. Yet somehow blamed even though there was no time yet to implement anything.

Today the inflation is global. I'd like to hear how Biden is responsible for British inflation.

Obama WAS responsible for the mortgage meltdown.
FACTS and so easy to show!
And the beginning of the crisis was in 1995.......
And it was a lawsuit brought by Obama in Chicago..
With landmark lawsuit, Barack Obama pushed banks to give subprime loans to Chicago’s African-Americans.
President Barack Obama was a pioneering contributor to the national subprime real estate bubble, and roughly half of the 186 African-American clients in his landmark 1995 mortgage discrimination lawsuit against Citibank have since gone bankrupt or received foreclosure notices

With landmark lawsuit, Barack Obama pushed banks to give subprime loans to Chicago’s African-Americans

President Barack Obama was a pioneering contributor to the national subprime real estate bubble.

dailycaller.com

 

[Faun]

Obama WAS responsible for the mortgage meltdown.
FACTS and so easy to show!
And the beginning of the crisis was in 1995.......
And it was a lawsuit brought by Obama in Chicago..
With landmark lawsuit, Barack Obama pushed banks to give subprime loans to Chicago’s African-Americans.
President Barack Obama was a pioneering contributor to the national subprime real estate bubble, and roughly half of the 186 African-American clients in his landmark 1995 mortgage discrimination lawsuit against Citibank have since gone bankrupt or received foreclosure notices

With landmark lawsuit, Barack Obama pushed banks to give subprime loans to Chicago’s African-Americans

President Barack Obama was a pioneering contributor to the national subprime real estate bubble.

dailycaller.com

Utter nonsense. Minorities were not much of a problem during the real estate bubble. CRA loans were heavily regulated, poor minorities were purchasing lower priced properties and the bubble didn't even start deflating until about a decade later, all the while, CRA loans were holding up fine. The real problem was repealing parts of Glass-Steagall, predatory lending and folks flipping houses who owned multiple properties they defaulted on when house prices dropped while interest rates increased. That's not on Obama or Bush. Clinton played a bigger role than either of them.

 

[dudmuck]

Obama WAS responsible for the mortgage meltdown.
FACTS and so easy to show!
And the beginning of the crisis was in 1995.......
And it was a lawsuit brought by Obama in Chicago..
With landmark lawsuit, Barack Obama pushed banks to give subprime loans to Chicago’s African-Americans.
President Barack Obama was a pioneering contributor to the national subprime real estate bubble, and roughly half of the 186 African-American clients in his landmark 1995 mortgage discrimination lawsuit against Citibank have since gone bankrupt or received foreclosure notices

With landmark lawsuit, Barack Obama pushed banks to give subprime loans to Chicago’s African-Americans

President Barack Obama was a pioneering contributor to the national subprime real estate bubble.

dailycaller.com

because banks didnt discriminate against blacks as much as they used to, that caused the subprime mortgage meltdown; the typical racist view. This is exactly what i was referring to.

The primary cause of the 2008 mortgage crisis was these mortgage-backed securities created by hedge funds and banks. Then, insurance companies covered those securities with credit default swaps. This created an asset bubble that collapsed with the slightest increase in interest rates.

Banks did lend to those with insufficient credit rating, but that was a tiny fraction of what was going on compared to the mortgage-backed securities and credit default swaps.

 

[healthmyths]

because banks didnt discriminate against blacks as much as they used to, that caused the subprime mortgage meltdown; the typical racist view. This is exactly what i was referring to.

The primary cause of the 2008 mortgage crisis was these mortgage-backed securities created by hedge funds and banks. Then, insurance companies covered those securities with credit default swaps. This created an asset bubble that collapsed with the slightest increase in interest rates.

Banks did lend to those with insufficient credit rating, but that was a tiny fraction of what was going on compared to the mortgage-backed securities and credit default swaps.

That is your unsubstantiated, subjective opinion.

Here is the link to the following factors:

The Fall of the Market in the Fall of 2008

Explore how America's strong economy tumbled so quickly after the 2008 house market crash.

www.investopedia.com

KEY TAKEAWAYS​

• The stock market and housing crash of 2008 had its origins in the unprecedented growth of the subprime mortgage market beginning in 1999.
• U.S. government-sponsored mortgage lenders Fannie Mae and Freddie Mac made home loans accessible to borrowers who had low credit scores and a higher risk of defaulting on loans.
• These borrowers were called "subprime borrowers" and were allowed to take out adjustable-rate mortgages, which would start out with low monthly payments that would become much larger after a few years.
• Financial firms sold these subprime loans to large commercial investors in pools of mortgages known as mortgage-backed securities (MBS).
• By the fall of 2008, borrowers were defaulting on subprime mortgages in high numbers, causing turmoil in the financial markets, the collapse of the stock market, and the ensuing global Great Recession.

Not my uninformed opinion... but experts.
Robert R. Prechter Jr., the founder of Elliott Wave International, consistently argued that the out-of-control mortgage market was a threat to the U.S. economy as the whole industry was dependent on ever-increasing property values. In his 2002 book Conquer the Crash, Prechter stated, "confidence is the only thing holding up this giant house of cards

Again NOT my opinion!! READ the article!

 

[healthmyths]

Utter nonsense. Minorities were not much of a problem during the real estate bubble. CRA loans were heavily regulated, poor minorities were purchasing lower priced properties and the bubble didn't even start deflating until about a decade later, all the while, CRA loans were holding up fine. The real problem was repealing parts of Glass-Steagall, predatory lending and folks flipping houses who owned multiple properties they defaulted on when house prices dropped while interest rates increased. That's not on Obama or Bush. Clinton played a bigger role than either of them.

That is your unsubstantiated, subjective opinion.

Here is the link to the following factors:

The Fall of the Market in the Fall of 2008

Explore how America's strong economy tumbled so quickly after the 2008 house market crash.

www.investopedia.com

KEY TAKEAWAYS​

• The stock market and housing crash of 2008 had its origins in the unprecedented growth of the subprime mortgage market beginning in 1999.
• U.S. government-sponsored mortgage lenders Fannie Mae and Freddie Mac made home loans accessible to borrowers who had low credit scores and a higher risk of defaulting on loans.
• These borrowers were called "subprime borrowers" and were allowed to take out adjustable-rate mortgages, which would start out with low monthly payments that would become much larger after a few years.
• Financial firms sold these subprime loans to large commercial investors in pools of mortgages known as mortgage-backed securities (MBS).
• By the fall of 2008, borrowers were defaulting on subprime mortgages in high numbers, causing turmoil in the financial markets, the collapse of the stock market, and the ensuing global Great Recession.

Not my uninformed opinion... but experts.
Robert R. Prechter Jr., the founder of Elliott Wave International, consistently argued that the out-of-control mortgage market was a threat to the U.S. economy as the whole industry was dependent on ever-increasing property values. In his 2002 book Conquer the Crash, Prechter stated, "confidence is the only thing holding up this giant house of cards

Again NOT my opinion!! READ the article!