MasterJaguar01
Posts: 2425
Joined: 12/2/2006 Status: offline
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quote:
ORIGINAL: BoscoX quote:
ORIGINAL: MasterJaguar01 Neither you, nor I have any knowledge that Biden's handlers wanted that bill. And that is a red herring. My main point is that Lefvre is badly confused and his post made no sense. After Bidenflation, your opinion and ten dollars will get you a cup of coffee. Which, your "one true journalism" blamed Bidenflation on imaginary price gouging No news outlets that I ever watched, blamed inflation on price gouging. However, after Biden brought the inflation rate down from 7% to 2.4% there was some price gouging which kept some prices high. There are many factors that contribute to inflation, but the main one is simple Supply and Demand. During COVID, demand dropped to almost nothing for many goods and commodities. Including oil! US Oil production dropped (as did the rest of the world). Gas prices did not increase as there was no significant demand. The President at the time did nothing to cushion us from this. Note the HUGE drop during that period here" https://www.eia.gov/todayinenergy/detail.php?id=63824 Oil is the canary in the coal mine, and is a factor in all goods and services as President Trump so wisely indicated. During this period, wells shut down. Exploratory oil companies went out of business. Oil is indicative of the entire US Supply Chain. All US Imports and manufacturing dropped to a fraction of what they were. Here is a graph of some major commodity imports: (I was hoping it would embed in the post rather than show as an attachment) NOTE: The impact of current tariffs as well When demand spiked as COVID was winding down, when the Supply Chain was badly broken from the previous administration, we experienced inflation. Simple Supply and Demand
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< Message edited by MasterJaguar01 -- 5/5/2025 8:57:48 AM >
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