That is the fed, not the president..... U.S. inflation is going to be different than any other country but inflation was something that spread to countries all over the world. To claim the president, or in this case Biden is the cause for 8% inflation is just ignorance which is expressed a lot here of course.
And who decides who's on the Fed? https://www.whitehouse.gov/briefing...ate-confirmation-of-federal-reserve-nominees/ I'm not saying Biden is responsible for all of the inflation. I'm attributing it to Democrats and Republicans. Biden and Trump both share some of the blame. It's clear that we overstimulated the economy. In fear of a serious recession, we injected a shit ton of money into the real economy by sending out checks to everybody whether they needed it or not. It was poorly targeted. Worldwide supply chain shortages create transitory inflation and self-correct. Of course the Democrats are also trying to scapegoat corporations. It's mostly bullshit as corporations raising prices to try to maximize profits for their shareholders didn't start post-pandemic and is nothing new. However, I believe we're going to find that this was mostly monetarily driven. This is what happens when you print money out of air and give it to the people.
corporations got the bulk of that "fear of recession" money printing. WTF you talking about? A production cost increase from inflation is a known quantity. A surcharge out of greed (gouging) is as well.
The difference is when you give a bunch of money to rich people they tend to invest it and put it into assets, not spend a lot more on everyday goods/services reflected in the CPI. These surcharges you speak of come from increased demand from everyday people who spend all their money. We gave $3200 to every adult making less than $75k. This money wasn't taxed and was a 5-10%+ increase in people's disposable income. Furthermore, poorer people are always hurt more by inflation, because their incomes always lag price increases. They also have few appreciating assets.
Some of it does, a lot of it doesn't. If they just buy stock it just inflates stocks prices. However, a rich person is a lot more likely than a poor person to take money and use it to help start a business and create goods/services. If you give your money to a homeless person they won't create anything with it. They'll consume, but something that's consumed must be created. If not, that puts upward pressure on consumer prices, hence inflation.
i cant control what an old man does but i have consistently posted the president takes.credit.often for shit they have no control over....so I have relied on economics not small minded loyalty to a random party. but then again you praised trump for economic movements so you might have to give Biden credit for the same things.. But the rest of us wont....
We are a consumer nation and always will be. Even when Gates and Jobs created in this country they took production overseas and all we get is IT jobs (good) and huge net imports as they are made in Asia. Our inflation spikes faster at times because we create such a high demand (see toilet paper shortage from absurd over demand) and we are forced to rely on logsitics from Asia for almost all imports. Farm food is the only major thing we really produce in this country just like we did during colonial times haha. Being a consumer economy means we will always have a trade deficit and a population that does not care about Made in U.S.A. because that means higher prices.