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Bidenomics worked great, delivering record low unemployment as inflation fell faster than any other country in the G7. The US economy was full steam ahead for

Bidenomics worked great, delivering record low unemployment as inflation fell faster than any other country in the G7. The US economy was full steam ahead for 3/4 of Biden's term, and is only now beginning to slow after the steepest FED rate hike in history. But there's a reason "don't fight the FED" is a well-known adage among traders: it has the most powerful levers, so it always wins in the long run. They wanted to kill inflation, and the only way to do that was to slow the economy. P.S. Your awkward attempt at partisan, clever humor is pretty embarrassing.

landemva 3y ago
The fastest way to slow inflation would be to end the war making. It was not a coincidence that federal reserve raised rates just after the start of eastern European hostilities.
- quickthrowman 3y ago
  It was a complete coincidence, they had been telegraphing rate hikes for months, long before Russia invaded Ukraine. The rate hikes came sooner than expected, part of that was from food and energy prices going up as a result of the war, but oil and grain prices have fallen from their peak in the past 18 months since the start of the war. Here’s an article from November 2021 where they report that the Federal Reserve is planning to start hiking the prime rate: https://www.cnbc.com/amp/2021/11/24/federal-reserve-releases-minutes-from-its-november-meeting.html https://www.cnbc.com/amp/2021/11/24/federal-reserve-releases... Article about how Vice Chair Richard Clarida was telegraphing upcoming rate hikes in August 2021: https://www.axios.com/2021/08/05/fed-vice-chair-clarida-rate-hikes-economic-progress https://www.axios.com/2021/08/05/fed-vice-chair-clarida-rate... Outside of situations like March 2020 and the GFC, The Fed generally telegraphs their moves far ahead of time to give market participants time to reposition.
- somewhat_drunk 3y ago
  Talk about rectally-sourced information... sheesh. The Ukraine War has almost nothing to do with US inflation. Have you even bothered to look at a chart of inflation? By your logic, inflation would have shot up from nothing as soon as the war started. But of course, inflation was already humming right along when Russia invaded in February 2022. Maybe you don't know how to google things? I'll help, here's a link. https://tradingeconomics.com/united-states/inflation-cpi https://tradingeconomics.com/united-states/inflation-cpi As you can see, the Ukraine War caused inflation to begin rising two years before Russia even invaded! Impressive investigative work, Watson!
  - landemva 3y ago
    Those price increases were from covid. Fed raised rates just after eastern Europe hostilities which is being used to split world supply chains.
    - somewhat_drunk 3y ago
      You know what, after googling a bit, you are more correct than I thought. The Ukraine War is responsible for a significant portion of US inflation. Not all, but maybe a third, at its peak.[1] But as other posters have mentioned, the FED had been telegraphing raising interest rate hikes for months prior to the war. I would wager the acceleration of inflation accelerated their rate hikes, but hikes were coming nonetheless. Russia essentially made a difficult situation much worse. That said, we can no more end that war than we can invade Russia and force them to withdraw. The best policy going forward is to continue to support an ally who was aggressed upon, one whom we promised to protect in case they were invaded in return for them giving up their nuclear weapons only thirty years ago.[2] 1. https://www.marketwatch.com/story/the-russian-invasion-of-ukraine-accounts-for-more-than-a-third-of-u-s-inflation-forecaster-says-11655122032 https://www.marketwatch.com/story/the-russian-invasion-of-uk... 2. https://en.wikipedia.org/wiki/Budapest_Memorandum https://en.wikipedia.org/wiki/Budapest_Memorandum
      - landemva 3y ago
        Despite neocon politicians visiting Ukraine over past decade (McCain Pence Nuland others), that country is not in NATO. In 1994 Ukraine was disarmed of Soviet nukes and was specifically set up as buffer between western Europe and Russia as part of that agreement. Since then NATO kept pushing east. Consider what USA would do if China was arming Canada or Mexico and visiting those countries encouraging attacks on USA. As an actual example, consider the panic and fear in USA when Soviet missiles appeared in Cuba. I'm disgusted by the wasted treasure of USA meddling in eastern Europe. Spend the funds at home. We could encourage Zelensky to abide by 2016 Minsk agreement to allow Donbas to vote on it's own future direction. Democracy good, right? Let them vote, as was agreed.
- soligern 3y ago
  Ukraine is receiving a fraction of our allocated defense budget. It’s also strange to hear it described as “war making” rather than defense against an aggressor. Kind of betrays your motivations.
  - egberts1 3y ago
    A big fraction, like 4%.
    - soligern 3y ago
      3% and that sounds like a pittance when the fate of Western Europe is at stake. For that price, it decimated what might have been considered the second strongest military in the world, strengthened democracy, sped up the implementation of renewable energy and supercharged local manufacturing. This might be the best investment the US ever made.
riku_iki 3y ago
> Bidenomics worked great in exchange of +10T of government debt.
- somewhat_drunk 3y ago
  The current US debt as of today is $32.71 trillion. When Biden was signed into office, it was $27.6 trillion. Subtract the two and you get $5.11 trillion, which, you may not be aware, is just a smidge more than half of the $10 trillion you claim. The question is: where are you getting your information? Because it is lying to you.
  - riku_iki 3y ago
    I can argue that "bidenomics" (printing money) was started by Trump
    - dragonwriter 3y ago
      > I can argue that “bideconomics” (printing money) was started by Trump Not plausibly can you argue that either of those things (which are not synonyms) were started by Trump (one started earlier, the other later.)
      - riku_iki 3y ago
        I totally can, you can disagree of course.
        dragonwriter 3y ago
        > I totally can Okay, then make the argument, rather than just allude to your abstract ability to do so.
        riku_iki 3y ago
        government printed lots of money which slightly relaxed economy issues but have many negative long term consequences: debt, hit on well being of bottom 50% of population, bigger wealth gap which will be abused by rich.

landemva 3y ago

The fastest way to slow inflation would be to end the war making. It was not a coincidence that federal reserve raised rates just after the start of eastern European hostilities.

quickthrowman 3y ago
It was a complete coincidence, they had been telegraphing rate hikes for months, long before Russia invaded Ukraine. The rate hikes came sooner than expected, part of that was from food and energy prices going up as a result of the war, but oil and grain prices have fallen from their peak in the past 18 months since the start of the war. Here’s an article from November 2021 where they report that the Federal Reserve is planning to start hiking the prime rate: https://www.cnbc.com/amp/2021/11/24/federal-reserve-releases-minutes-from-its-november-meeting.html https://www.cnbc.com/amp/2021/11/24/federal-reserve-releases... Article about how Vice Chair Richard Clarida was telegraphing upcoming rate hikes in August 2021: https://www.axios.com/2021/08/05/fed-vice-chair-clarida-rate-hikes-economic-progress https://www.axios.com/2021/08/05/fed-vice-chair-clarida-rate... Outside of situations like March 2020 and the GFC, The Fed generally telegraphs their moves far ahead of time to give market participants time to reposition.
somewhat_drunk 3y ago
Talk about rectally-sourced information... sheesh. The Ukraine War has almost nothing to do with US inflation. Have you even bothered to look at a chart of inflation? By your logic, inflation would have shot up from nothing as soon as the war started. But of course, inflation was already humming right along when Russia invaded in February 2022. Maybe you don't know how to google things? I'll help, here's a link. https://tradingeconomics.com/united-states/inflation-cpi https://tradingeconomics.com/united-states/inflation-cpi As you can see, the Ukraine War caused inflation to begin rising two years before Russia even invaded! Impressive investigative work, Watson!
- landemva 3y ago
  Those price increases were from covid. Fed raised rates just after eastern Europe hostilities which is being used to split world supply chains.
  - somewhat_drunk 3y ago
    You know what, after googling a bit, you are more correct than I thought. The Ukraine War is responsible for a significant portion of US inflation. Not all, but maybe a third, at its peak.[1] But as other posters have mentioned, the FED had been telegraphing raising interest rate hikes for months prior to the war. I would wager the acceleration of inflation accelerated their rate hikes, but hikes were coming nonetheless. Russia essentially made a difficult situation much worse. That said, we can no more end that war than we can invade Russia and force them to withdraw. The best policy going forward is to continue to support an ally who was aggressed upon, one whom we promised to protect in case they were invaded in return for them giving up their nuclear weapons only thirty years ago.[2] 1. https://www.marketwatch.com/story/the-russian-invasion-of-ukraine-accounts-for-more-than-a-third-of-u-s-inflation-forecaster-says-11655122032 https://www.marketwatch.com/story/the-russian-invasion-of-uk... 2. https://en.wikipedia.org/wiki/Budapest_Memorandum https://en.wikipedia.org/wiki/Budapest_Memorandum
    - landemva 3y ago
      Despite neocon politicians visiting Ukraine over past decade (McCain Pence Nuland others), that country is not in NATO. In 1994 Ukraine was disarmed of Soviet nukes and was specifically set up as buffer between western Europe and Russia as part of that agreement. Since then NATO kept pushing east. Consider what USA would do if China was arming Canada or Mexico and visiting those countries encouraging attacks on USA. As an actual example, consider the panic and fear in USA when Soviet missiles appeared in Cuba. I'm disgusted by the wasted treasure of USA meddling in eastern Europe. Spend the funds at home. We could encourage Zelensky to abide by 2016 Minsk agreement to allow Donbas to vote on it's own future direction. Democracy good, right? Let them vote, as was agreed.
soligern 3y ago
Ukraine is receiving a fraction of our allocated defense budget. It’s also strange to hear it described as “war making” rather than defense against an aggressor. Kind of betrays your motivations.
- egberts1 3y ago
  A big fraction, like 4%.
  - soligern 3y ago
    3% and that sounds like a pittance when the fate of Western Europe is at stake. For that price, it decimated what might have been considered the second strongest military in the world, strengthened democracy, sped up the implementation of renewable energy and supercharged local manufacturing. This might be the best investment the US ever made.

riku_iki 3y ago

> Bidenomics worked great in exchange of +10T of government debt.

somewhat_drunk 3y ago
The current US debt as of today is $32.71 trillion. When Biden was signed into office, it was $27.6 trillion. Subtract the two and you get $5.11 trillion, which, you may not be aware, is just a smidge more than half of the $10 trillion you claim. The question is: where are you getting your information? Because it is lying to you.
- riku_iki 3y ago
  I can argue that "bidenomics" (printing money) was started by Trump
  - dragonwriter 3y ago
    > I can argue that “bideconomics” (printing money) was started by Trump Not plausibly can you argue that either of those things (which are not synonyms) were started by Trump (one started earlier, the other later.)
    - riku_iki 3y ago
      I totally can, you can disagree of course.
      - dragonwriter 3y ago
        > I totally can Okay, then make the argument, rather than just allude to your abstract ability to do so.
        riku_iki 3y ago
        government printed lots of money which slightly relaxed economy issues but have many negative long term consequences: debt, hit on well being of bottom 50% of population, bigger wealth gap which will be abused by rich.