I’m not going to comment on your economic analysis… But, the polling - so you’re saying there’s hope for Biden? I’m not even that optimistic.
Yup… retailers are starting to hold inventories that don’t match consumers because consumers are changing behavior…
The inflation we are suffering is from a global shock event whereas previous inflations can often build up from overheating of the economy mixed in with some smaller shocks. A global closing and then a mass opening and surge in demand with a system incapable of handling the surge is not something we get over in a few months or can be "legislated" away. As has been pointed out numerous times, this inflation is global and not specific to the U.S. so all this talk about what a president can do is silly. I find it even sillier that some are claiming that a former actor with no finance or economics background had some brilliant plan in the 80s to battle inflation that had nothing to do with the fed, congress, and the natural contraction that happens after staglfation. We are stuck with this current economic situation until we crash, plain and simple. There is no Congress or White House solution to a problem that is global and that is occurring outside our borders but we are making worse with our demand. Right now, for example, retailers surged in their inventory buying and are sitting on high priced goods while demand has started to drop off mixed in with a slow time of the year. The price rejections by consumers now has to make its way up the supply chain which takes time. I dont look at April - Jun to see how demand and pricing affects things, let us see in July August if demand is truly going to drop off which will cut into inflation. This will happen naturally when it wants to happen. Transitory is just some political jargon....
Gas prices were dramatically up before the idiotic war in Ukraine. Policies implemented by Joe Biden have caused fuel prices to increase as a policy. The administration claiming they can do nothing to move fuel prices is a blatant lie. Cancelling pipelines, cancelling drilling leases, banning new offshore rigs and their alienation of Saudi Arabia are direct causes. The administration wants high fuel prices and the war is a useful crisis to get there. Stop carrying their water. Its not a good look for a smart person.
I used to think a global recession would sort of be a destruction moment to spur the rebuilding that is needed. Sort of wash everything away but I’m not so sure anymore. I was looking at savings rates and consumers are not reluctant to dip in to their savings and this can go for a while. So while I’m not taking big recession off of the table I’m adding an “or” negative employment numbers for 2-3 months might be enough of a shock to reset the system. I think this because we might feel like we are in recession despite showing very shallow growth ie 0.2% growth.
The belief that trump or biden would have made an effect on what is happening global shows how stupid our country has become. Please tell me what specific Biden plan has caused gas prices to spike globally. Before you insult my intelligence.... dont say something stupid. Also you just spouted political bullshit instead of facts. Like below for example. I bet Hong Kong and denmark are regretting voting for Biden right? At an average of $4.59 per gallon as of May 19, American consumers are dealing with the highest gas prices the nation has ever seen. But the pain at the pump is actually much worse in some other countries. The global average price of a gallon of gas, in American dollars, is about $5.13, according to GlobalPetrolPrices.com. But there’s a wide range in the price paid by country. Residents of Hong Kong pay the highest international gas prices, with one gallon setting them back $10.97. Norway has the second-highest gas prices at $9.64 per gallon, followed by Denmark where gas costs an average $9.32 per gallon. Below is Denmark gas price in liters per gallon.... wow notice the spike in 2020 as hte world demand surged. Same as U.S. PIPELINE: Keystone XL, an expansion of an existing North American pipeline, would have carried 830,000 barrels of crude oil from Alberta, Canada, to Nebraska daily at its peak. At the time Mr. Biden halted its construction, the $8 billion expansion was only about 8% complete, according to Reuters. Yet many experts agree that moving ahead with the pipeline wouldn't have prevented U.S. gas prices from climbing to a record high. Expanding the Keystone would have increased global oil production by less than 1%, an amount, they explained, is "almost negligible." [iN OTHER WORDS...IT IS A PIPELINE AND ONLY IMPROVED MOVEMENT BUT STILL WOULD NOT HAVE BEEN FINISHED ANYWAY] Even if the pipeline was already built, it wouldn't help with the price at the pump, Nemet added, noting that the U.S. has already doubled its oil production over the last 15 years. "And yet, we still have $100 per barrel oil." It wouldn't be online and wouldn't be moving oil until the year 2023. THE KEYSTONE WAS A PIPELINE....NOT AN OIL FIELD. YOU GENIUSES ARE CLAIMING THAT IF A PIPELINE WAS NOT BUILT THEN NO OIL IS FLOWING....THE OIL WAS STILL PRODUCED. You can complain about Biden cancelling leases or whatever but say these are reasons why gas prices are higher is NOT INTELLIGENT AT ALL. Either make an economic argument or leave the politics aside. it is not a good look for a smart person.