Nope. Inflation was 4% under Trump. Biden came in, spending increased, borrowing increased, printing increased, and oil production decreased. - ThreadSky

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1pckt.bsky.social • 124 days ago

Nope. Inflation was 4% under Trump.

Biden came in, spending increased, borrowing increased, printing increased, and oil production decreased.

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jcb222.bsky.social•124 days ago

Oh ok, so Bidens actions are the cause of a worldwide inflationary crisis. My bad, I stand corrected 🙄

rottingpastry.bsky.social•124 days ago

Ah, yes, the old "Democrats spend more than Republicans" canard that was just as stupid in the 90s as it is now.

rottingpastry.bsky.social•124 days ago

Never mind that's not how inflation even works.

1pckt.bsky.social•124 days ago

Inflation is the result of monetary policy.

https://www.economicshelp.org/blog/797/economics/why-printing-money-causes-inflation/

rottingpastry.bsky.social•124 days ago

Inflation is the result of lots of things since the definition is literally "thing cost more" for some thing.

Not even the school Milton Friedman was a part of supports monetarism anymore. But also lol Milton Friedman.

1pckt.bsky.social•124 days ago

“Things cost more” is not the definition of inflation.
There are lots of reasons for price fluctuations that are not inflation.
The rise in cost of one commodity (eggs) is not inflation.

rottingpastry.bsky.social•124 days ago

Literally the definition. It's even measured by taking a collection of things and seeing how much they cost. Inflation is not some magical concept that goes up when the bad team is in power and goes down when the good team is in power.

https://en.wikipedia.org/wiki/Inflation

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