Historic Perspective on Inflation
There was high inflation in the 1980s, which carried over from the late 1970s. It peaked in March 1980 (at 14.8%) and was decreasing by the time Reagan took office. From the peak month (3/1980) to the following year end (1981), the rate decreased by 40%. At the end of 1982, the Fed Rate was 8.5% and unemployment was still increasing, ending the year at 10.8%.
Fast forward to the post-COVID global inflation: The inflation rate peaked in June 2022 (at 9.1%) and consistently decreased each month thereafter. From the peak month (6/2022) to the following year end (2023), the rate decreased by 63%. At the end of 2023, the Fed Rate was 5.5% and unemployment rate never increased and, in fact, decreased to 3.7%.
So in summary: the inflation rate decreased at a a slower rate in the 1980s, whereas the borrowing rate and unemployment rate, which are trailing indicators, had a much higher borrowing rate in the 1980s and high unemployment in the 2020s was entirely avoided. So to the right-wing ilk on this platform, in comparing Biden to their hero (Reagan) the impact of global inflations appears to be better managed by Biden.
Replies to: Historic Perspective on Inflation
Running the first 2 Trillion $ deficit is inflation control?? What a joke......
Reasonable people may disagree with your assessment.
Your link is BS. Disproving the first point.
When Trump took office in January 2017, the U.S. had 145.6 million nonfarm jobs, the Bureau of Labor Statistics’ standard measurement for job counting. After Trump’s first 30 months — the same number of months that Biden has been in office — the number of jobs had risen to 150.8 million.
That’s an increase of about 5.2 million jobs, or a bit higher than the 4.9 million Trump described in South Carolina.
Using this methodology, Trump was much further off base with Biden’s numbers.
When Biden took office in January 2021, the U.S had almost 143 million nonfarm jobs. By Biden’s 30th month in office — June 2023 — the number of nonfarm jobs had risen to 156.2 million.
That’s an increase of 13.2 million jobs, or more than six times as big as the 2.1 million jobs Trump referenced in his speech.
You disproved nothing. But you are a zealot and it's a waste of time to argue with you.
Just say the Dems are always right and the Reps are always wrong.
Throw in some TDS gorgonzola and some pejoratives and be done with it.
NoCal has figured out how to be OC Lite.
He posts the same crap more succinctly.
You didn't read what I posted,
You refuted nothing.
BTW I'm not a Republican.
Now that is irony. Hensou calling someone a zealot.
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Correction, I directly disproved it. Just because you're emotional about it doesn't make it not true
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False. You didn’t read the report. You disproved nothing.
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The issue is the voter is mad at higher prices and want to blame the government versus companies.
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Is your inference that 'companies' drive inflation?
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It's my inference that companies have taken advantage of inflation. It's a fact.
Have prices come down 6% like inflation did?
No debts comparison. Debts is not a variable in economy. Typical MMT apologist's mindset.
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Testify!
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Biden couldn't manage a pizza party
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Insightful but the OP still dropped truth bombs all over the place.
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It did not decrease by 63%. This is a statistical thought crime.
Prices today are 18% higher than when Biden took over. They will be 22% higher by the time we finally unload him in Jan of 2025.
If you paid $100 for something on inauguration day, you are paying $118 now. And you will be paying $122 on the next inauguration day. Even if inflation holds at 3% going Forward.
Your Logic is Economically and Intellectually FLAWED
At the end of 2024, employee pay rates were up 4.8%, whereas inflation increased by 3.4%. So in real dollars, that is a net reduction of almost 1.5%.
Guessing you never studied Economics.
LOL! Sure sure. I never studied economics.
Moron.
Quest does not understand basic math.
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You continue to display your HOF posting skills. A true asset to the board.
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Finally, you say something truthful. Unless you are lying again.
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Where did you get this statistic from?
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The CPI tables. Look them up. BLS web site.
I can help you with the math if you ask nicely.
Current inflation is Global...caused by COVID interruptions of Supply Chains plus Putin's War...
...and the U.S. is handling it very well.
Link: https://www.ft.com/content/088d3368-bb8b-4ff3-9df7-a7680d4d81b2...
Clueless.
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YES … you are CLUELESS
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No need to take him seriously, OC...Hades will freeze over before he makes a cogent
argument.
This is hilarious. No one, including the libs here, takes you seriously.
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I like others here have caught you in many lies.
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Compare it historically with Trump’s years. When something is ugly, you always want to look at it
from further back. “Joe’s not too much worse than Jimmy Carter”.