Quote:
Originally Posted by Atocep
Yeah I don't understand how world wide inflation and rising gas prices are an issue the president can fix. He can't force China to stop shutting down, he can't force trucking companies to pay better, he can't force companies to put securing redundancies in supply lines over profits, ect.
Inflation followed by a recession was pretty much a given when shutdowns were combined with pumping money into the economy to get us through those shutdowns. Now we act stunned that it's happening.
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Don't think anyone is saying Biden can fix inflation immediately. I am saying that Biden can help reduce the impact of inflation
if he is willing to pay the political price. Similar to my discussion with Brian, I do not believe that Biden could/can not lessen the impacts (and reduce the odds) on inflation.
On inflation and recession being a given, the best minds then (Powell, Yellen) said transitory inflation and I honestly don't remember reading much about recession back in first 3Q of 2021.
Assuming you agree that stimulus money had helped fuel inflation (or in general, there is too much money around) why do student loan forgiveness now (vs pause). An estimate is $370B. And for that matter, is it time to remove the pause.
Also the Trump tariffs on China (and think Canada also). Should he get rid of those?
Backlog in western ports to offload goods. Can Biden step in and help the union and management do better (e.g. work 24/7)?
Can Biden swallow his pride and re-engage SA (and Venezuela) and give them what they want (whatever that is) to increase heavy crude production?
There's probably other ideas out there that Biden can do if he is willing to pay the price.