Biden lies about inflation.....again

[Luvnit2]

Why does Biden feel he needs to peddle lies to the voters. Last week he said on CNN inflation was 9% when he took office in 2021, it was 1.4%. He repeated the lie to Yahoo News, same lie inflation was 9% when he took office.

Biden said to watch him, we are but it appears the liberal media is so busy trashing and fact checking Trump they are blind to his lies. Sadly, members in this forum believe his lies as well due to TDS.

https://www.foxnews.com/media/biden-repeats-false-claim-inflation-9-took-office

Biden repeats false claim that inflation was at 9% when he took office after being called out last week
Inflation was at 1.4% in January 2021 before peaking at 9.1% in June 2022.

So, high inflation in 2021 and high + high inflation in 2022, close to 17% in 2 years and it was 1.4% for 2020 and 5.6% for the entire Trump Presidency.

Voters feel it and Bidenomics is the cause of high inflation which lead to high interest rated. US consumers credit card debt under Biden has skyrocketed. Sadly, consumers can only afford to make minimum payments so with over 20% credit card interest rates debt is on the rise.

Biden inflation has cost a household of 4 over $9000 a year in purchasing power, yet Democrats and Biden dismiss it and don't have a clue how to fix it.

[StoneTheCrow]

For those who break out in hives when presented with a Fox News link:

https://amp.cnn.com/cnn/2024/05/14/politics/fact-check-biden-inflation-when-he-became-president

[NATI BENGALS]

If inflation was low when the government was giving people money to stay home, store shelves were sparse, and only essential workers were working. Then I’m a monkeys uncle.

I don’t know where Biden is pulling his numbers from.

But this screams inflation. And I lived it and saw it with my own two eyes. Supply and demand.
https://www.reuters.com/news/picture/shoppers-rush-to-stock-up-as-coronavirus-idUSRTS35ZLY/

And this was before the great resignation where everybody returned to work and demanded pay raises or quit and found someone else to pay them more. Followed up by supply chain constraints and then war in Europe.

The potus does not have a magic inflation wand I’m aware of, but some people think they have one I guess.

[Mike M (the other one)]

(05-15-2024, 01:48 AM)NATI BENGALS Wrote: If inflation was low when the government was giving people money to stay home, store shelves were sparse, and only essential workers were working. Then I’m a monkeys uncle.

I don’t know where Biden is pulling his numbers from.

But this screams inflation. And I lived it and saw it with my own two eyes. Supply and demand.
https://www.reuters.com/news/picture/shoppers-rush-to-stock-up-as-coronavirus-idUSRTS35ZLY/

And this was before the great resignation where everybody returned to work and demanded pay raises or quit and found someone else to pay them more. Followed up by supply chain constraints and then war in Europe.

The potus does not have a magic inflation wand I’m aware of, but some people think they have one I guess.

If he would focus on resolving Supply chain problems, it will come down.

[GMDino]

(05-15-2024, 10:41 AM)Mike M (the other one) Wrote: If he would focus on resolving Supply chain problems, it will come down.

What more should he do? 

https://www.forbes.com/sites/katevitasek/2024/02/02/president-bidens-supply-chain-resilience-executive-order-signals-work-for-us-businesses/?sh=2613515e3d0a

Quote:

Quote:President Biden’s Supply Chain Resilience Executive Order Signals Work For U.S. Businesses

[/url]Kate Vitasek
Senior Contributor

I cover the art, science and practice of collaborative relationships
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[url=https://www.forbes.com/sites/katevitasek/2024/02/02/president-bidens-supply-chain-resilience-executive-order-signals-work-for-us-businesses/?sh=2613515e3d0a#open-web-0]0

Feb 2, 2024,07:00am EST







President Biden's Executive Order targeted at supply chain resiliency will prove key for countless ... [+]
AFP VIA GETTY IMAGES
President Biden’s Executive Order from the White House on supply chain resiliency signifies an important turning point for U.S. businesses, regarding supply chain management.

The plan, revealed at the inaugural meeting of the Council On Supply Chain Resilience on November 29, 2023, encompasses more than 30 targeted actions. The briefing room statement shared the goal is to “help Americans get the products they need when they need them, enable reliable deliveries for businesses, strengthen our agriculture and food systems and support good-paying, union jobs here at home.”

The November Executive Order is a follow-up to Biden’s original Executive Order On American Supply Chains from back in February of 2021, calling for a review of America’s supply chains.

A key theme across many of the action items?

Collaboration will be essential for success.

Collaboration begins right at the top with the creation of a Council On Supply Chain Resilience which will be co-chaired by the National Security Advisor and National Economic Advisor and will include members from over 20 other government agencies. Biden chartered the Council to devise a long-term strategy for resilient supply chains.
But what will be the impact?

Below, three supply chain experts weigh in on how U.S. businesses will be affected:

Integrating Advanced Data Solutions
A key theme stemming from the Executive Order is the creation of new, cross-governmental supply chain data-sharing capabilities. The briefing statement shared, “The Administration has developed several cross-government partnerships to improve supply chain monitoring and strategy.”

One example is a new, first-of-its-kind Supply Chain Center. Hosted by the Department of Commerce, the center will be responsible for integrating industry expertise and data analytics to develop innovative supply chain risk assessment tools.

Stephany Lapierre, CEO of TealBook, believes this is a good move for the U.S.

Said Lapierre, ”Accurate supplier data is the key to unlocking a world of new market opportunities. Reliable access to a single source of truth enables agility, allowing procurement leaders to identify alternative suppliers in hours — not weeks. When integrated with artificial intelligence (AI) or machine learning (ML), automated supplier data platforms enable superior analytics, suggesting opportunities for cost improvement and efficiency adjustments.”

At the heart of these initiatives is a call for increased visibility and real-time accuracy in supplier data. Supply chain automation and access to a reliable, single source of truth enable quick identification of alternative suppliers, cost improvement opportunities and efficiency adjustments.

Lapierre admits that "Most enterprises simply aren’t prepared for the long-term impacts these actions will have on their supply chain.” However she is quick to add the good news is that supply chain leaders need not wait to take action. “Today, there are many effective resources and tools available for companies that manage their supply chain data and risks.”

Domestic Investment In Critical Areas
A second key theme is a made-in-America them, with the Executive Order calling for over $1 billion in government investments. One of those investments is the $275 million allocated for the Advanced Energy Manufacturing and Recycling Grant Program.
Chris Adderton, senior VP for the Council of Supply Chain Management Professionals, weighed in on the importance of this investment in a recent discussion — noted Adderton:

“The U.S. investment in infrastructure to enable a more efficient supply chain was long overdue. Whether you believe the just-in-time global supply chain will recover or you are pro-nearshoring and made-in-America, the $1 billion-plus investment in the U.S. supply chain is a worthwhile investment with a good return on investment for both the public and private markets.”

Deepening Engagement With Allies
While made-in-America is becoming a fashionable trend, the Executive Order hints that global supply chains are far from dead. Of particular interest is that 12 out of the 30 action items outlined in the Executive Order are targeted towards “deepening engagement with allies and partners to strengthen global supply chains.”

Ted Stank, a University of Tennessee (UT) Professor and co-director of UT’s Global Supply Chain Institute, believes Biden’s emphasis on global collaboration makes sense.

“The U.S. is heavily reliant on a few foreign suppliers in many industries which makes the U.S. economy more susceptible to foreign economic shocks. Strengthening collaboration with allies, combined with the emphasis on supply chain data tracking, is key to stable supply chains.”

Which industries pose the most risk?

The U.S. Federal Reserve Bank reports the five industries that rely most heavily on foreign value added in their exports were Coke and refined petroleum (25.9% of the exports’ value added was produced abroad); motor vehicles, tractor-trailers and semitrailers (23.7%); machinery and equipment (18.4%); basic metals (16.8%); and electrical equipment (16.5%).

Looking Ahead
Overall Biden’s Executive Order sets a clear policy direction focused on supply chain strength. The wild card for its success relies heavily on the capabilities and collaboration of a multitude of public agencies. When you consider Biden’s first Executive Order on improving U.S. supply chains was nearly two years ago, it hints at the fact that progress will likely be slow.

Again, it seems people what to nationalize businesses so the POTUS can make unilateral changes? Then he would be responsible for everything.

[Mike M (the other one)]

(05-15-2024, 11:01 AM)GMDino Wrote: What more should he do? 

revealed at the inaugural meeting of the Council On Supply Chain Resilience on November 29, 2023,

Again, it seems people what to nationalize businesses so the POTUS can make unilateral changes? Then he would be responsible for everything.

Dippy, i never said he was directly in charge of changing it, all i said was one thing the POTUS can do to curb inflation. He can also fire and appoint a new Federal Chair. It won't change the current rates but it might give him a slightly more favorable outcome. And of course the R's would try to use that as political fodder. 

Some downsides that pop out:
Legislation is going to be needed in order to get several parts of it moving, (House/Senate), sadly likely means delays. 
Some could also violate WTO rules. 

It's likely to be a little late for his Term to feel more than a trickling of the effects before his term is up. 

Good read though, I haven't kept up with that side of things to see if he was actually doing anything. I'm much more focused on Immigration atm. It's killing us financially. 

[Luvnit2]

(05-15-2024, 01:48 AM)NATI BENGALS Wrote: If inflation was low when the government was giving people money to stay home, store shelves were sparse, and only essential workers were working. Then I’m a monkeys uncle.

I don’t know where Biden is pulling his numbers from.

But this screams inflation. And I lived it and saw it with my own two eyes. Supply and demand.
https://www.reuters.com/news/picture/shoppers-rush-to-stock-up-as-coronavirus-idUSRTS35ZLY/

And this was before the great resignation where everybody returned to work and demanded pay raises or quit and found someone else to pay them more. Followed up by supply chain constraints and then war in Europe.

The potus does not have a magic inflation wand I’m aware of, but some people think they have one I guess.

Biden economic policies on gas killed the economy immediately. He stopped a US oil pipeline that would help the price of gasoline and oil. Yet, allowed a pipeline in Europe making Putin and Russia money.

Explain why gas prices under Biden have spiked.

It is simple, Biden made it more expensive to produce oil and took no steps to reduce the price of gasoline. Energy impacts everything. Diesel fuel, gasoline and heating oil all increased under Biden, this caused a spike in food and commodities. Companies and businesses pass on costs to the consumer. The groups impacted the most ae the middle and lower class. A family of 4 spends almost $1000 a month under Biden than under Trump not including the high interest rates under Biden.

Interest rates spiked due to Biden's 3 trillion dollar bill he said would curb inflation. It did the opposite, so all of the green deal pork in the bill added to the inflation which caused the huge rate hikes needed to insure we did not go into a recession.

Biden owns high inflation and Trump has a great record on inflation. The voters remember wage growth outpaced inflation under Trump, they are being killed under Biden, wages are under water versus inflation causing the lower and middle class major pain at the gas pumps and at the grcery store.

[hollodero]

(05-15-2024, 01:09 PM)Luvnit2 Wrote: Biden economic policies on gas killed the economy immediately. He stopped a US oil pipeline that would help the price of gasoline and oil. Yet, allowed a pipeline in Europe making Putin and Russia money.

Explain why gas prices under Biden have spiked.

I think it has something to do with Russia waging war on Ukraine and Russian gas being sanctioned in the west as a response.

(05-15-2024, 01:09 PM)Luvnit2 Wrote: Biden owns high inflation and Trump has a great record on inflation. The voters remember wage growth outpaced inflation under Trump, they are being killed under Biden, wages are under water versus inflation causing the lower and middle class major pain at the gas pumps and at the grcery store.

Inflation is a global phenomena, Europe suffers too, and in fact by all economic metrics it seems the US recovers way better and faster than we do. What we Europeans do not do is blame Biden for our inflation, and in fact not even our own politicians. It's outside of Biden's power mostly and he can only do so much. Not saying everything he did in that respect was great, but placing the blame solely on his feet seems unfair.

[Mike M (the other one)]

(05-15-2024, 01:16 PM)hollodero Wrote: I think it has something to do with Russia waging war on Ukraine and Russian gas being sanctioned in the west as a response.



Inflation is a global phenomena, Europe suffers too, and in fact by all economic metrics it seems the US recovers way better and faster than we do. What we Europeas do not do is blame Biden for our inflation, and in fact not even our own politicians. It's outside of Biden's power mostly and he can only do so much. Not saying everything he did in that respect was great, but placing the blame solely on his feet seems unfair.

I won't blame Biden for the Gas prices, but i will blame the Dems. Trump did try to fill the reserves when it was very cheap, I believe Biden got it for $80/Barrel when Trump was trying it was $24/Barrell, but Dems screamed he's saving the oil industry and wouldn't pass it.

https://www.bloomberg.com/news/articles/2022-09-13/biden-may-buy-oil-just-below-80-democrats-stymied-trump-at-24

Just another example of the stupidity of the politics that cost US Tax payers. This might have also had an influence on inflation had it been done.

[Luvnit2]

I am waiting for any liberal to chastise Biden for lying about inflation when he took office.

A huge difference from the 1.4% in 2020 he inherited from Trump and the 9% he claimed it was when he was sworn in.

Do liberals and Biden think voter are stupid?

Biden doubled down on a huge whopper. a lie that voters know is a lie. When we have correct the record?

[hollodero]

(05-15-2024, 01:31 PM)Mike M (the other one) Wrote: I won't blame Biden for the Gas prices, but i will blame the Dems. Trump did try to fill the reserves when it was very cheap, I believe Biden got it for $80/Barrel when Trump was trying it was $24/Barrell, but Dems screamed he's saving the oil industry and wouldn't pass it.

https://www.bloomberg.com/news/articles/2022-09-13/biden-may-buy-oil-just-below-80-democrats-stymied-trump-at-24

Just another example of the stupidity of the politics that cost US Tax payers. This might have also had an influence on inflation had it been done.

Ha, I was not aware, but similar mistakes were made in quite some European countries as well. Not meant as an excuse, it probably deserves to be called a mistake and Democrats usually make plenty of those.

As for inflation, I don't really know, I'm not sure if fuller reserves really allow for significantly lowering the end prices. But certainly not my expertise.

[hollodero]

(05-15-2024, 01:39 PM)Luvnit2 Wrote: I am waiting for any liberal to chastise Biden for lying about inflation when he took office.

A huge difference from the 1.4% in 2020 he inherited from Trump and the 9% he claimed it was when he was sworn in.

Do liberals and Biden think voter are stupid?

Biden doubled down on a huge whopper. a lie that voters know is a lie. When we have correct the record?

Well, alright, he should not lie about inflation rates. Though with Biden I don't know if it was deliberate or him just forgetting or mistaking things again, which would of course not be much better anyways.

I just hope you remember the sentiment when Trump gives his interpretation of economic data again, when he postulates a negative GDP or how unemployment is at 40% and more and whatnot.

[Mike M (the other one)]

(05-15-2024, 01:43 PM)hollodero Wrote: Ha, I was not aware, but similar mistakes were made in quite some European countries as well. Not meant as an excuse, it probably deserves to be called a mistake and Democrats usually make plenty of those.

As for inflation, I don't really know, I'm not sure if fuller reserves really allow for significantly lowering the end prices. But certainly not my expertise.

Ya bro, i have no idea how much it would have affected Inflation, but it would have helped keep prices down, as when Gas goes up, the cost of transporting goods also increases and in the end is passed to the consumers. So no doubt it would have helped, just how much is the Answer we will never know.

That doesn't even account for the fact that they end up paying 350% more for it when they did buy. Would have been more money for other things and he did sell off almost half of our reserves just trying to keep the inflation/prices from getting higher. So it was a nasty spot to be in.

Immigration and Inflation are the two main reasons he will likely lose, and both could have been minimized. 

[NATI BENGALS]

Any thoughts on record high oil and gas production in the USA?

Any thoughts on opec+ cutting production to keep oil prices high?

[NATI BENGALS]

(05-15-2024, 01:39 PM)Luvnit2 Wrote: I am waiting for any liberal to chastise Biden for lying about inflation when he took office.

A huge difference from the 1.4% in 2020 he inherited from Trump and the 9% he claimed it was when he was sworn in.

Do liberals and Biden think voter are stupid?

Biden doubled down on a huge whopper. a lie that voters know is a lie. When we have correct the record?

They are stupid if they think he inherited an economy that was in awesome shape.

[Mike M (the other one)]

(05-15-2024, 03:10 PM)NATI BENGALS Wrote: They are stupid if they think he inherited an economy that was in awesome shape.

They certainly didn't help themselves, and neither is helping the next POTUS as well.

[BigPapaKain]

(05-15-2024, 03:08 PM)NATI BENGALS Wrote: Any thoughts on record high oil and gas production in the USA?

Any thoughts on opec+ cutting production to keep oil prices high?

According to some on here, Biden killed the oil industry. Must be why is just got a 78% annual raise working in the *checks notes* oil industry.

Surely a death rattle.

[Mike M (the other one)]

(05-15-2024, 05:19 PM)BigPapaKain Wrote: According to some on here, Biden killed the oil industry. Must be why is just got a 78% annual raise working in the *checks notes* oil industry.

Surely a death rattle

GOOOOOOOOOOOOOOOOOOO CLIMATE CHANGE! Isn't that what he campaigned on? 
Guess he's just a sneaky little liar!

[NATI BENGALS]

(05-15-2024, 05:28 PM)Mike M (the other one) Wrote: GOOOOOOOOOOOOOOOOOOO CLIMATE CHANGE! Isn't that what he campaigned on? 
Guess he's just a sneaky little liar!

There are campaign talking points. And then there is reality. If Russia hadn’t started a war I don’t think we would be producing more oil than any other country.
Not another foot of border wall was a thing too. Yet here we are.
https://apnews.com/article/border-wall-biden-immigration-texas-rio-grande-147d7ab497e6991e9ea929242f21ceb2
Is it really that weird for a position to change on a subject that has so many variables and external forces at play? My answer is no.

And yea. Climate change.
https://youtu.be/S_42LsKGcVo?si=hJNrh-9ZxwWcjZGh
But as the richest most powerful country in the world why would we try to do anything about it? In fact we’ll just let big oil write the laws and roll back any regulations they want as long as they fund the GOP. Am i right?

[*Nately120*]

(05-15-2024, 01:16 PM)hollodero Wrote: Inflation is a global phenomena, Europe suffers too, and in fact by all economic metrics it seems the US recovers way better and faster than we do. What we Europeans do not do is blame Biden for our inflation, and in fact not even our own politicians. It's outside of Biden's power mostly and he can only do so much. Not saying everything he did in that respect was great, but placing the blame solely on his feet seems unfair.

A lot of Americans are unaware or don't care that the rest of the world exists.  This was nicely exemplified when a non zero number of Americans were concerned an eclipse that could be seen within the USA was a sign from god and/or the end times while completely ignoring that eclipses happen all over the world at various times that they are completely unaware of.

Americans are only concerned with America, and even within America Americans really only tend to consider their own hometowns "real America" while the rest is either a god-awful mess or empty space full of dumbasses.