Imagine being Boris Johnson, having a no confidence drama, and knowing global inflation is Joe Biden’s fault.
May 30 2022 You all want inflation to go away but you all keep spending money on shit... U.S. is a consumer economy and we are not even close to the busiest time of the year for buying... "The economy can always turn on a dime, but at this point in the economic cycle, consumers are still spending their hearts out, keeping the recessionary winds at bay," said Christopher Rupkey, chief economist at FWDBONDS in New York. Consumer spending, which accounts for more than two-thirds of U.S. economic activity, increased 0.9% last month. Data for March was revised higher to show outlays racing 1.4% instead of 1.1% as previously reported. The strength in spending is despite consumer sentiment being at its lowest level since 2011.
And throwing a few trillion of fiscal spending (giving people handouts, etc) has everything to do with it.
The same Piezoe that told us we should raise min wage to $15 but when questioned specifically on it, told me he would "get back to me"?
Makes sense to use Trump's highest inflation which is in 2020. Is a lot of that just beta in which everything worldwide was trending? Yeah I think so. Is some of it alpha? Absolutely. Trump produced alpha where Biden is not. If they were both portfolio managers Trump would be retained and Biden would be fired.
Id like to just remind you that oil went to $0 per barrel under Trump and producers were shutting down rigs, not opening them. Why are you ignoring the GDP losses and record job loses under Trump? Mind you now, I can’t stand Trump but these macro economic movements are much greater than one president or one country. What you’re arguing is nonsensical. What I will say is that Biden and democrats will pay the price for inflation and gas prices in the midterms but if you believe the current economic conditions are their fault then you’re getting high on your own supply and there is no way you have the right answers to what the root causes are.