How much did Trump administration policies in 2020 lead to the inflation that followed?

[OtterMan68]

Inflation does not happen over night.

I'm not asking WHY the Trump adminstration did these things, I'm asking did these actions help contribute to the inflation that followed.

Record increase in money supply by Trump Dept of Treasury

Increase in federal spending

Massive increase in debt

How much did the spending, massive increase in money supply, and massive increase in debt in 2020 lead to the inflation that followed?

A lot: those actions were the driving force, and I'll explain below

Equally to what the Fed & Biden adminstrations did: Each gets 1/3 the blame, and I'll explain below

A little: they didn't make too much difference and I'll explain below

don't know/don't care

Updates

+1 y

Personally, I'd say Trump, Biden, and the Fed should get equal blame.

[NaultD]

I Don't think any president has that much insurance on free market economy. That's the whole point of having a free market economy.

The fact don was more or less had his head in the buried in the sand in face of a global disaster is another disaster on top of it. One million additional people died over covid19 by being half passed about it. That is not acceptable for any natural disaster in the history of humanity.

If only we gave a fuck out our humanity the free market could adapt as it's free to do. Governments wants people alive to pay taxes and free market wants people alive to buy shit. Work together we can make the impossible possible. The don just shit the bed wanting anyone else to clean it up.

[OtterMan68]

no country has a free market economy.
N. Korea has a command economy and every other country has a mixed market economy

[NaultD]

How mixed is our economy without universal health care? We still have fire fighters as premium on payroll in some areas. Meaning your neighbor pays for fire fighters and they let your house burn down even if they are right there.

https://youtu.be/3o5NxNnaxN8?si=RcaLCuR0IYXoIrTb

So yes we live in a free market and yes it is garbage ad dealing with emergencies. From common place to brand new epidemics to pandemics.

[OtterMan68]

we have some socialism and some free market capitalism.

[OtterMan68]

was that a private fire department? Also, the people were told they had to pay for FD protection. They CHOSE not to. It's like choosing not to pay for flood insurance. They thought they could get away with not paying and still get the services. That total loss is all on them. If I were their home insurance company, I'd refuse to insure their new house unless they pay the fee after they rebuild.

[NaultD]

Yes and free market for profit emergency is bad for the average person.

You are the one saying we are in the mixed economy. I'm saying yes we are in the most ass backwards way possible. That is most expensive. Least effective.

Best way to restart is basic nessesitys of humanity.

[OtterMan68]

so we have no socialism or gov regulation? I can legally open a surgical clinic in my garage?

[NaultD]

Chinese acupuncture, massage and chiropractor. These are pushing the limits of regulated fda medical care.

[NaultD]

We can also say good by date and sell by date is self regulated on groceries except for baby food which is which can be safe for years.

Free market fuckes people over to gain profits.

Yes there is some government oversight that helps but they are few and dar between.

[OtterMan68]

so are you admitting we don't have a free market since we have gov regulations?

[NaultD]

We have the most ass backwards government regulations and the most ass backwards free market.

So we have free health care from president Reagan for dialysis treatment because people gave a fuck at the time. Also for ER visits. You get life saving treatment before you can provide evidence of paying at all.

[OtterMan68]

do we have a mixed market economy or not?
I say yes because we have socialism and gov regulations as well as market policies.
"ass backwards free market" would be unfree market, no?

[NaultD]

We have some to little mix economy but it is in the most ass backwards way possible. It's called

Emergency Medical Treatment and Active Labor Act (EMTALA)

ER visit are more expensive then preventing care.

[JacobJordan]

To understand inflation one first needs to understand basic finances which is the triangle that runs our country. 3 major points that determine finances good or bad. If one doesn't know these then trying to assign even partial fault is pointless. Especially when the reality is fault for this situation started long before any of us were born

[DryGermanGuy]

Trying to teach basic economic correlations to the average MAGA muppet is like trying to teach a horse to deal cards. Just listen what they regurgitate at the Trump rallies. It's hopeless. Vote blue!

[OtterMan68]

If a person walked into a room lit a stick of dynamite on fire, walked out, and another person walked in and dynamite went off, they'd blame the second person for the explosion.

[WhiteBoyChill]

Voting blue is the source of a majority of our problems. No thanks

[OtterMan68]

@WhiteBoyChill Mississippi is a state with all GOP state officials and two GOP US senators. Paradise?

[WhiteBoyChill]

No, but neither is California.

Again, we can find bad examples of blue states as well.

[OtterMan68]

@WhiteBoyChill OK, let's compare standard of living, education rates, murder rates, and poverty rates of solid blue states and solid red states.

[WhiteBoyChill]

That doesn’t mean blue states are marvelous either

[WhiteBoyChill]

Everyone knows the Deep South sucks but they have blue run cities that are the worst in the country also

[strateguy632]

as democrats say NOW even after 3 years: "blame previous administration" lol. also trump first year until his changes had effect obama dnc fault.

in contrast in 2nd year trump things improved. but liberals say this lie even after 3 years of new guy. dullards.

[OtterMan68]

so you're saying what happened in 2020 had no impact on what happened after?

[OtterMan68]

compare inflation rates from 2021 to today. When did inflation spike?

[exitseven]

He spent trillions on Covid. This was not planned for and the majority of this money was wasted. That contributed to inflation because suddenly there was a lot more money being circulated. Biden continued the spending and it just got worse from there.

[OtterMan68]

don't forget the Federal "inflation is transitory" Reserve

[exitseven]

That was Janet Yellen. One of Bidens winners

[OtterMan68]

www.cbsnews.com/.../

[DrPepper12]

I abhor Trump but the blame goes to the pandemic. Inflation follows a pandemic; it's an economic certainty. They each did (necessary) deficit spending and the Fed responded to its mandate if full employment and low inflation which obviously in a pandemic is impossible. Everybody did the best they could, even Trump. Can believe I wrote that.

[Anonymous]

The pandemic crashed the economy

It was a time when vultures feathered their nests but the vast majority of wage slaves sat at home soaking up tax dollars watching Netflix

No matter who was in office it would have taken those billions/trillions to remedy issues

[OtterMan68]

the question is - did it lead to inflation?

[Opinion Owner]

Absolutely you issue more money than ever before it's going to cause issues but it could be worse, it didn't reach hyperinflation levels

[WhiteBoyChill]

I don’t really care either way cuz Trump’s still better than Biden and that’s all I really have to decide between 🤷‍♂️

[AngryCarl]

Nothing to do with Biden literally dropping dollar bills out of a helicopter then? lol

[OtterMan68]

so Trump did not sign $2.2 Trillion in covid relief and print a record amount of money?

[AngryCarl]

I don't know. I don't think inflation was a concern during the pandemic.

[OtterMan68]

but those policies LED to inflation , and yes, economists warned it would happen

[AngryCarl]

Well according to the graph federal government spending has increased under Biden exactly the same way as it did under Trump. You can't blame Trump for inflation if Biden is continuing the same policies.

[OtterMan68]

So if light a stick of dynamite leave it in a room, and someone else comes in and lights another stick, and the explosion destroys the room, I'm not to blame?
Did you see the chart about money supply?

[RedInnocent69]

A lot. But it was COVID. Many places have fared worse.

[KrakenAttackin]

Any way you cut it, politicians are addicted to spending.

[Pterodon]

None at all

[OtterMan68]

so none of those actions his administration took in 2020 had anything to do with the inflation that followed?

[Jersey2]

@Pterodon Exactly. This is just people trying to spin a false tale. Biden spent TRILLIONS! Remember OAC saying not billions, trillions with a T she wanted to spend. Well, they did and got what everyone told them, inflation.

[OtterMan68]

@Jersey2 so if the Biden Treasury printed a record amount of money, it would have no effect on inflation?
And when Trump signed a $2.2-trillion stimulus package in March 2020, followed by two more installments of COVID-19 relief later in 2020 into law, it had ZERO impact on inflation?

[Pterodon]

Zero.

[Pterodon]

What caused inflation was Biden killing the petroleum industry

[OtterMan68]

same as above? So printing a record amount of money and a $2.2-trillion stimulus package in March 2020, followed by two more installments of COVID-19 relief later in 2020 has ZERO effect on inflation? Care to cite some studies to back that up?

[OtterMan68]

oil production rose during Biden's presidency

[DryGermanGuy]

This U. S. domestic oil production graph should help:
www.eia.gov/.../LeafHandler.ashx

[Pterodon]

I live in an oil state. Biden has fucked us.

[DryGermanGuy]

Wrong again. Instead of pissing and moaning just open the freely available information:
www.eia.gov/.../LeafHandler.ashx

[Pterodon]

How do you explain oil prices shooting up the very day fuckup took office? Because oil is traded on futures and the market saw the future under fuckup. It’s what he campaigned on remember?

[DryGermanGuy]

That's even sadder, when foreigners have to teach you about your own country. Did you go to Trump University, by any chance?

[OtterMan68]

You're wrong. Oil production has increased under Biden
www.eia.gov/.../LeafHandler.ashx

[Pterodon]

Tell that to my state

[OtterMan68]

show the stats. How much did oil production decrease in your state?

[OtterMan68]

prove me wrong. Show me the figures

[Pterodon]

Gas prices

[Pterodon]

It’s supply and demand

[OtterMan68]

prices started to climb before Biden took office. try again
www.eia.gov/.../LeafHandler.ashx

[OtterMan68]

yes, you flood the market with dollars and demand does not go up, dollars are not worth as much, and prices go up. Now you're getting it