Not entirely on Biden but his policies aren't helping. The vast majority of goods producing nations have currencies linked to the dollar, so massive increases in its circulating supply will certainly have an impact. The most direct influence though is the impact of oil and gas prices. Fossil fuels and petrochemicals are one of, if not the largest, pricing input to most goods and many services, so price increases are global when those industries are constrained. It is no secret, as he campaigned upon doing so, that the Biden administration has severely curtailed production by slow walking extraction permits and stopping leases, while also appointing anti fossil fuel executives to multiple agencies. One can debate whether doing so is worth it for the environment, but it would be insane to ignore the impact on prices as a result of this admin's policies. This, of course, threw gasoline on the inflation fire, which was destined to ignite considering the amount of "helicopter money" distributed during the past 2 years.Do you really believe that the current inflation and gas prices we are experiencing are all because of Biden's policies? I thought you were a little smarter than the other mouthbreathers on here. Like I have said before, when those both go down, and they will, I cannot wait to see how fast you backpedal and claim Biden's policies are irrelevant.
Oh, and speaking of policies that have a negative effect on inflation, do you think this is helping? Of course, the whole point is to make inflation worse so they can blame it on Biden. It's disgusting.
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Truckers say stepped up inspections mean 35+ hour waits at one Texas-Mexico border bridge
PHARR, Texas — Commercial traffic snarled badly here over the weekend and into Monday, coming to a near standstill after state troopers stepped up safety...www.dallasnews.com
The debt to GDP ration today is over 130% (compared to 34% when Volker hiked rates to 20%) and that excludes unfunded Social Security and Medicare with many folks predicting will more than double the debt ......that means we haven't seen the worst of it yet. So while doling out billions in Covid funds in 2020 was on Trump (even though it was the left that pushed it), Biden's tossing gas on fire via bad policy decisions.
Biden may get inflation down but he's going to get it back to 6% and call it a victory when average rates over the last 20+ years has been 2-3%. 6% erases any gains in wages by far......