US Politics |OT|

[Pemalite]

ToolFan89 said:

Are you serious you think Biden is lesser of the two evils we need trump to make America pop again I’m not swayed by either party both evil but Biden is a puppet who sucks at even that lol at least with trump I had lots of income flying into my household tons of overtime economy is terrible inflation is extremely high in USA for everyone and u think Biden should stay in office man arnt u from Canada anyway? 

The thing with inflation is that it started to occur during COVID.

...When Trump was in power.

Printing 6.7~ trillion dollars of additional debt and pumping it into the economy devalues the dollar, placing additional price pressures on business.
(Which breaks one of Trumps promises that he will pay down debt.)

Add on the COVID supply/demand pressures which caused a rise in local goods and services...

Add on the trade war, which also added additional price pressures...

COVID employment market accounted for a chunk of the inflationary pressures as well.

This all occurred under Trump, it was literally a perfect storm during the peak of COVID denial-ism by the USA.

*****

As an Australian... The main perception is that the USA is less of a drama-filled clown show with biden in power, where-as Trump was just an endless comedy act that kept on giving.

Trump is a literal narcissist... He will take credit and promote himself at every opportunity, even if it was someone elses work... But any slight inconvenience or issue that *may* make himself look bad, it's always someone elses fault, he has no accountability.

He will whinge and moan how he is attacked by his opponents, but will do the exact same thing in return, he always acts like the victim to garner sympathy votes.

I am honestly hoping for the USA's sake that Trump is not re-elected, but for comedy value... I am hoping he is re-elected.
So I am torn between two places.

Hiku said:

I know it's a meme that Americans are commonly unaware of anything that happens outside of their country, but the amount of times I see people not aware that there is high inflation worldwide is still surprising.

Not only that, but USA has among the lowest inflation rates of the bunch. They're handling this situation well compared to the rest.

<SNIP>

So if you want to attribute all that to Biden, that's actually high praise.

I think Australia has handled the inflation issue pretty badly.

Although that is starting to change... A large portion of our inflation is due to supermarkets "fleecing" consumers with significantly higher prices, more than the rate of inflation.
Now there is a full investigation into it to find out what is going on and hold these companies accountable.

the-pi-guy said:

Inflation is about changing prices. Inflation dropping to 0, does not undo the inflation that we saw over the last few years. There's a reason why bread doesn't cost 1 cent anymore, and why cars don't cost $500 anymore. In order for that to happen, you need deflation. Which is generally regarded by economists as not good.

The good thing is that debt generally doesn't increase at the rate of inflation.

So if you borrowed $1 and inflation increases by 10%, you don't owe $1.10. You still owe $1.
So it's actually a good time to pay that debt down when you have a larger supply of money in the system... Especially before there is an economic contraction. (Which is a matter of when not if.)