Please see my reply to your other post about inflation and money supply M2:
http://www.theeroticreview.com/discussion-boards/politics-and-religion-39/re-said-no-economist-ever-437749
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M2 grew by 46% under 4 years of Trump.
M2 grew by 7% under 3 years of Biden.
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http://www.tradingview.com/symbols/ECONOMICS-USM2/
DATE M2 ($T) Note:
Jan 2017 13.231 Trump enters office
Jan 2021 19.356 Trump leaves office
M2 increased by (19.356/13.231 = 1.462) 46.2% under Trump.
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Jan 2021 19.356 Biden enters office
Jan 2024 20.767 Biden 3rd year in office
(the official 20.767 data is out for Nov 2023 but I am calling it "Jan 2024" to keep to the Jan-Jan dates.)
(since M2 is currently contracting, the actual values for Jan 2024 and the net growth is probably lower.)
M2 increased by (20.767 / 19.356 = 1.072) 7.2% during Biden's 3 years.
Posted By: lester_prairie
Re: Inflation is a bipartisan evil
It's indisputable, as I point out, that the DJIA has declined 5% in value in the last two years under Biden. But inflation is a bipartisan evil. If only "progressives" could see how cynically their political elites saddle the working poor with inflation by all their deficit spending.
Did you mean "Trump saddled them with inflation by all his deficit spending."?
So many retirement plans are invested in the market -- that money, the decline in value, even as the stock prices "apparently" go up, but in reality decline in value due to the robbery of inflation, is pure and simple robbery of the average American citizen trying to provide for their retirement years. Not to mention the declining value of any cash holdings or bank savings.
But you said inflation is caused by expansion of the money supply (to pay for such spending). M2 expanded by 46% under Trump; only 7% under Biden.
Instead we get brain dead explanations from them that inflation is "wages chasing prices" the shit explanation they got in junior high civics class, rather than the actual government/federal reserve policy to set inflation rates for domestic policy -- i.e. rob the citizens in a convoluted way and then hand out juicy funds to various sectors in exchange for votes.
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And don't even get me started on how taxing corporations is a direct tax on the working poor in the prices they have to pay when those taxes are passed on to the poor in the price of the goods and services. It taxes the poor at the same rate as the rich. Progressives would call it a regressive tax if they only understood the simplest economics.
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But they are so defensive of their ideological fantasies that they actively ignore basic economic truths. But in the end it is more important that they feel virtuous and good about themselves than to understand that their "leaders" are enriching themselves and their club members at the expense of the poorest people in the nation,
EDIT: I fixed the messed up quote delineators.
-- Modified on 1/20/2024 9:53:18 PM