Checking on Biden's repeated inflation claims vis a vis the rest of the world.
At this point, he goes out and says whatever his advisers tell him to say and doesn't even possess the wherewithal to question it.
Link: Biden claims inflation is lower in the U.S. than abroad. Here are the real numbers.
Replies to: Checking on Biden's repeated inflation claims vis a vis the rest of the world.
Is anyone surprised that he lied? Anyone?
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According to the Fed's Board of Governors, the key term is "Geopolitical Risk" (see link)
and specifically, Putin's war in Ukraine. Note that Russia is not immune to inflation either, and their rate well above average too, without the full effect of a European shift in energy sourcing hitting it yet.
Back in Feb/Mar when this all began, a large majority here in the U.S. understood...at least in their minds...that there would be a price to pay for opposing Putin...inflation is part of that price.
Link: https://www.federalreserve.gov/econres/notes/feds-notes/the-effect-of-the-war-in-ukraine-on-global-activity-and-inflation-20220527.htm
Oh, for Pete;s sake. You blow more smoke than a 1980 Mt. St. Helens.
Russia is not immune to inflation?
No shit...they're being sanctioned by the lion's share of the free world at the moment...
Are you disagreeing with the Fed BOG's take on inflation?
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Unintentionally hilarious take there, Tyrone.
The Fed spent half of 2021 denying inflation and then spent the rest calling it transitory.
Recently they said a recession is not happening, and we're about to print our second negative quarter in a row.
At least take a look at their charts in the link I provided...all the verbiage is a bit much, I
agree, but essentially I hear them saying our current "Malaise" is due to a "Geopolitical" shock...which we all know is Putin's War against Ukraine...everyone is affected to varying degrees...Saudi Arabia has all the oil and gas it needs, so they have a lower inflationary impact...other countries aren't so fortunate...like us.
The Fed BOG also takes the time to "predict" what the future might hold...you might want to offer your own assessment...btw, I really did call our 'Family Econ PhDs' about this...waiting until the data is assimilated in a week or so by the firm one of them works for...if I'm able/allowed, I'll share their analysis.
So...7 countries with higher inflation, 12 with lower - but all with inflation
It's almost like it is a global phenomenon, fueled mostly by the economic dislocation and chaos generated by the global pandemic.
Or it's all Biden's fault. Whichever.
Mr. Whataboutism himself
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Heh. Some of those with "lower inflation" have 2% inflation...what the Fed thinks is healthy.
Inflation has always been "a global phenomenon," so your point is comical.
But, normal inflation like 2% inflation is not what everyone is worried about. They are worried about harmful inflation, which the US is experiencing, without being in a war like Russia, but with inflationary money policy like Turkey.
Eurozone inflation: 8.6%
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So to be clear, you're a-okay with the lies.
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Are we still in the "transitory" period? Will that period going to be all 4 years?
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