06-29-2023, 12:05 PM
(06-29-2023, 11:58 AM)hollodero Wrote: I think it's a fair question to ask if this has all that much to do with Trump or Biden. Most of the Trump years fell into a period of a global economic upswing, just until the pandemic, where the Trump economy also took a nosedive. Biden's term had to deal with the fallout of said pandemic and with the Ukraine development, that sent economies worldwide in a downward spiral. Same goes for inflation, which is not an US phenomena, but a worldwide issue. Could Biden have done better, possibly, but then again maybe not that much.
And not all of the metrics in Biden's economy are that bad, eg. quite low unemployment. In the same sense, not everything under Trump was golden. Eg regarding the national debt that has risen for roughly 7.8 trillion dollars (some say a bit more, some say a bit less) under his tenure. Quite a number. Some of it is pandemic-related, some of it already happened before the pandemic though, through Trump contradicting the former logic of using good economic times to decrease the deficit. I for one can't determine wheteher Biden or Trump did better economically given the circumstances they were in, but I would caution against glorifying the Trump years in comparison.
The only reason it took a nosedive is because leaders worldwide locked the citizens down, crushed their businesses and destroyed the economy.
It is interesting how most big box stores where magically able to stay open during covid. Hmmm, lock everybody down, close small businesses, leave the big box stores open who also have online options and look at all those wealthy people and shareholders getting even more rich as online sales explode.
I was calling BS after a week or two of lockdowns. People are easily fear mongered.
