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Utopia Talk / Politics / How much is really Bidens fault?
Habebe
Member
Tue Jun 21 16:06:02
Admittedly, both sides are BSing about how much is his fault.

I will be reffering to JB personally while reffering to both him and his administration.

Reps will blame this all on Biden, but realistically, we would have had inflation anyway.

Dems will say its entirely out of his control, but clearly he has made poor decision after poor decision that has exacerbated the issue.

Shocking that the truth lies somewhere in the middle.....*eyeroll*
Habebe
Member
Tue Jun 21 16:39:35
As for those poor decisions IMHO that have made things worse than it had to be.

1. Fueding with Saudi Arabia.

Virtue signaling over Kalshoggi, .did nothing beneficial but did worsen relations.

Then he refused to speak with MBS, Im not even sure why, clearly he runs the nation.

Holding up weapons sales.

All this lead to a major rift with the leader of OPEC. Its not just SA, but we have to recognize their outsized influence in OPEC which effectively sets the price of global oil to a large degree.

2.A flawed war on fossil fuels. Banning new oil leases on federal land.

Raising carbon tax per ton from $1-7 to $51.

Blocking pipelines. Now admittedly, Republicans over state the impact of this, but it is part of a pattern. It also just means it's moved via train, so where is the benefit?

3. The Ukraine conflict, you know my stance here. We sent billions over there, sanctions have made fuel cost more and a looming food crisis.

4. Possibly my biggest singke gripe, while we talk about the food crisis.

He is increasing ethanol in gasoline to 15%. This uses up much needed arable land and corn that will raise animal feed costs...connect the dots.

On top of which ethanol destroys cars costing people more to maintain them.

1/3 less mileage than gasoline.

Terrible policy.

On the hill today they said if ethanol grain was halted temporarily it would fill the gap in grain shortages in the medium term.

Did I miss any? Reminder, keep culture wars out of this. This is about inflation and special inflation (energy/food)

Next wr can talk about how the government overspent and where.

How much was spent to buy assets and bonds hen the market crashed? Which Biden was not involved in.
nhill
Member
Tue Jun 21 16:59:57
Yeah it was going to happen no matter what Biden did. His failure was making it a little worse, but all the stimulus got the ball rolling here.

If he had managed to combat inflation (which I don't see as realistic), he would have been an unsung hero.

But, for now, he's the easiest thing to blame for a decade of questionable monetary policy decisions.
Rugian
Member
Tue Jun 21 17:07:15
Trump-era stimulus is definitely driving some of what we're seeing now. The blame for that is bipartisan since congressional Dems overwhelmingly supported that spending as well, but whatever.

Biden's fuckup was to quadruple down with more Covid packages (even when they were no longer needed) and his delusional plan to become FDR 2.0 by expanding the federal government to its largest size ever.

Of course, the biggest blame of all goes to the fuckwad politicians/bureaucrats/scientists/media shills who advocated a global shutdown of the economy in the first place via lockdowns/restrictions/mass firings of the unvaccinated etc.
nhill
Member
Tue Jun 21 17:08:31
>Of course, the biggest blame of all goes to the fuckwad politicians/bureaucrats/scientists/media shills who advocated a global shutdown of the economy in the first place via lockdowns/restrictions/mass firings of the unvaccinated etc.

True story, it's a systemic issue, not limited to either party.
Rugian
Member
Tue Jun 21 17:08:47
Its almost like handing out free stimulus checks to hundreds of millions of people is terrible economic policy. Gee, who could have seen that coming.
nhill
Member
Tue Jun 21 17:13:06
According to Modern Monetary Theory, it shouldn't have done anything! Supply/demand irrelevant.

Thank God we have all these academics to come up with such revolutionary theories. Stephanie Kelton should be locked up for disinformation, but apparently it's okay to spread BS if you can wrap it into an "academic" paper.

Academia is a pox
nhill
Member
Tue Jun 21 17:13:49
http://en.wikipedia.org/wiki/Modern_Monetary_Theory
Habebe
Member
Tue Jun 21 17:42:14
Rugian, The fed has like 9 trillion in assets, that has tonokay a role.

Nhill, Yeah, Friedman made alot more sense.AKA old monetary theory.
Habebe
Member
Tue Jun 21 17:52:29
To play a role*

Habebish is its own language.
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