zlacker

you think people that "incorrectly believe the US is in recession" go by doomsday news? they look at their pocket when buying groceries, they looked at the glorious effects of bidenomics on their own life, and how it has been made that much harder, and form their opinions. When the talking heads on TV bask in how great the economy is, they speak from a position where their insider-trading fueled gains are so far away from the world of normal people that they barely could even point to a "normal person" if they were dumped in the middle of a crowd of them

>>redeem+(OP)
I am not American, and I don't know all the finer details, but weren't a lot of the inflation issues post covid a direct result of Trump's unrestrained borrowing even in a growth economy, all in the name of keeping the stock markets growing as your primary indicator of economic success a big factor?

Certainly looking at the UK economy, I can trace back the source of our current problems well beyond the current election cycles even if the incompetence of the current government has not helped.

>>redeem+(OP)
In the US the term recession has no specific definition. So whether or not we’re in one doesn’t mean much.

>>redeem+(OP)
The point was about Germany where the pet theory of failing bidenomics simply does not apply. Recession or not, call it as you want but the prices for the regular guy did increase a lot lately.

>>lkrame+h1
No, this has nothing to do with Trump.

The USA has been in “unrestrained borrowing” because it’s been funding itself with continuing resolutions rather than a budget since 2009. That means that the extra trillion dollars in 2009 “temporary” stimulus has been added to the debt every year since on top of the prior trajectory. This is easily seen if you look at the relevant graphs on FRED.

That said, government borrowing or money creation doesn’t directly cause inflation either. Sad to say, the inflation we’re seeing appears to be as much on the production and importing side as it is on the demand side.

>>redeem+(OP)
I agree to some extend, economists measure how well the richest oligarchs are doing, never how much normal people are struggling. But to single out Biden suggests to me that delusion that Trump would somehow do better or is somehow less out of touch?

>>lkrame+h1
> weren't a lot of the inflation issues post covid a direct result of Trump's unrestrained borrowing even in a growth economy

Where are the modern monetary theorists when you need them?

They seem to have all disappeared lately. Used to see them as pundits on news shows daily (or in replies to my comments here) and now they are just gone suddenly.

It was legitimately the belief of the ruling class in the US that printing money isn't inflationary. You would be laughed out of the room to suggest the fact. I was.

>>User23+R2
> We estimate the ten-year cost of the legislation and executive actions President Trump signed into law was about $8.4 trillion, with interest.

Yep, nothing to do with trump.

https://www.crfb.org/blogs/how-much-did-president-trump-add-...

>>hobs+e7
You’re providing a good example of how partisan bias makes you both snarky and stupid. For your own sake you may want to check that impulse.

Otherwise, you are, despite your sarcasm, stating the truth. Nevertheless it might behoove you to learn more about how the US system operates. Like Biden after him and Obama before him, Trump had the choice to either sign the continuing resolutions that Congress sent him, or to refuse to fund the government altogether. This is something called Hobson’s choice and it’s not really a choice at all.

>>User23+P9
The "lets get a huge tax break done" was absolutely his goal and plan and part of his election campaign, I didn't say anything partisan, simply stating that trump was absolutely part of the problem.

You wont find me defending any president :)

>>hobs+Kk
Those “huge” tax cuts only cost 100 billion per year according to the NYT[1]. That’s nowhere near the trillion dollars added per year to the debt every year by reallocating the 2009 stimulus by continuing resolution for 15 years in a row and counting[2].

In fact as one can see from the data, the rate of increase slightly moderated during the Trump administration until the pandemic stimulus. Notably there is no corresponding end of pandemic inflection point.

[1] https://www.nytimes.com/2024/03/04/us/politics/trump-corpora...

[2] https://fred.stlouisfed.org/series/GFDEBTN