MMT isn’t some predictor but an idea…. Like austerity. Turns out Covid related issues were the main cause of inflation. The Fed (monetary policy) can’t build more housing but Congress (fiscal policy) can create incentives. As I’ve argued in the past… you Frontline PBS doesn’t delve into the fiscal side of how it affects cheap money.
@StupidMoniker @Space Ghost @Invisible Fan were the donkeys were predicting a massive recession in 2022/2023 while me and @adoo said repeatedly in this thread that bidens investments and other spending were going to keep the economy afloat and we would come out stronger than before. You donkeys were wrong yet have learned nothing from it. Same Ole braindead talking points. Donkeys will be donkeys
@adoo specifically cited the percentage increase. Those are the percentage increases of the debt for each president. If that wasn't the point, he shouldn't have made that his whole post. I don't believe I ever predicted a recession in 2022/23. Why would a time of massive government spending result in a recession. It will result in massive inflation, not recession.
I apologize I didn't read all the posts. That You are being intellectually dishonest by ignoring the percentage increase and focusing on totals because it supports your argument. Percentages are used to compare different peeiods periods and the correlation of different variables.. inflation is a percentage. If your argument is that the increases created the inflation, why didn't inflation increase substantially with Reagan?
There was massive inflation in 2021 and 2022, following the massive spending in 2020 and 2021. Inflation continued in 2022, albeit at a lower level than 2021, cooling in June. Historical Inflation Rates: 1914-2024 (usinflationcalculator.com) This (of course) followed a significant reduction in spending). Federal Spending | U.S. Treasury Fiscal Data Inflation was a bit high under Reagan in 6 of his 8 years in office, and higher over his first four years than under Biden's first four years.
I know, you attributed something to me I didn't say. I rejected your attribution and told you what I did say, which was about 2021-22.
It amazes me that Republicans ignore Trump's COVID additions to debt, ignore Trump's poor COVID response in general, ignore that the stimulus worked, ignore that inflation is slowing, ignore a global supply chain problem that contributed heavily to inflation, and still b**** about shutdowns four ****ing years later when we lost the most people to covid by far and is not close Edit;:. The US didn't have the most deaths but way more than we should have
what a lame excuse for you being less-than-informed the discussion has been above your head. the onus is on you to be more informed, not on me to dumb it down for you. Invisible_Fan often claims that he reads extensively on business/economic issues. yet, after all these times, he still can't differentiate monetary policies from fiscal. it is still above his head; it is pathetic!
yet another eg of Invisible being confused, all mixed up. this is reminiscent of him bashing on the accounting mechanics attendant to Fed's QT policy as if having a pristine balance sheet is in Fed's charter. it is not; the Fed's dual mandate is to promote full employment and price stability
You being factually incorrect and me making a correct statement of fact has nothing to do with the level of the discussion or whatever other lame bullshit you want to retreat to. You said that Biden increased the debt by a lower percentage. I pointed out that having a higher baseline of debt means that even a large increase in the debt is a lower percentage increase. This is just how actual math works. You can pretend that isn't what you said or isn't what you meant, but I quoted you directly.
