Thoughtson Biden's speech/plan?

[Belsnickel]

(05-11-2021, 07:08 PM)Crazyjdawg Wrote: When it comes to surveying the economy, everyone has a slant towards their party. I remember when Trump first became president and he instituted his tax breaks and then, suddenly, the Republicans couldn't stop talking about how much unemployment was trending down and how much the stock market was trending up....despite the fact that those trends were already well entrenched under Obama so them continuing is not really all that noteworthy. What would have been noteworthy is if the trends sloped upward or downward, neither of which really happened.

But you see it from the Democrats too. Not many Democrats were willing to acknowledge that Trump was able to keep the economy going in the direction it had been up until the pandemic and the stock market broke records under his presidency, if I'm not mistaken.

I also find it interesting that, when your party is president, the stock market is the ultimate figure for economic success, but when the other party is president, the stock market is just a gambling expo where the wealthy become wealthier and has no real bearing on the economy.

And then you have the people who will claim the economy when their party is in charge, but then say the President has little or no impact on the economy when their party is not in charge, assuming the economy is doing well. If the economy is doing poorly, it's definitely the president of the other party's fault (or not the president of your party's fault).

Pretty much all of this. I do want to add something to this thread about the gas situation, though. We have been seeing a little bit of a quicker pace for inflation, recently, and it's being driven primarily by fuel sales, i.e. gasoline. This is another one of those self-fulfilling things. Fuel production had slowed during the pandemic because, well, people weren't going places as much. Now there is this run on gas stations which increases demand that outpaces supply. This demand pulls the prices up. So not only is it self-fulfilling on the shortage side, it's also the major contributor to rising inflation.

All because of this panicky herd mentality.