It wasn't enough to satisfy some right wingers that inflation went down to around 3% under Joe Biden's watch after it had risen to around 9% a year after the pandemic.
The overall inflation rate went to around 9% after the Fed dumped lots of money into the economy to pay for keeping things solvent during the pandemic. This propped up businesses and people, while rents and mortgages were still due, but businesses had to reduce indoor gathering. This also had the effect of propping up high property values as rents and mortgages could still be paid while many people were not working. It paid for unemployment and things like The Cares Act.
Under Biden's watch, inflation went up due, in part, to that extra money sloshing around in the economy. Biden ask to have more money put in to pay for things like the so called "Inflation Reduction Act;" infrastructure bill.
Right wingers bitched due to the higher inflation, though, later in Biden's term, the Fed was scaling back and inflation was going down rapidly.
This wasn't enough to satisfy right wingers who noticed higher grocery prices, gasoline prices and so forth. They wanted something more. They said, "bring prices back down to the 2019 "before pandemic," levels. Food prices go up with wages, passing added costs to consumers. During the pandemic, some workers were more highly regarded than usual and people were calling them "essential workers."
Now, well after the pandemic, the talk about essential workers has subsided and people are bitching about inflation.
Okay, I noticed that home values went up faster, during that period after the pandemic, than the overall inflation rate. In some cases home values went up around 20%!
Let's bring home values back down to 2019 levels. This could reduce the cost of living. Lets bring rents back down to 2019 levels. How about stock values? Let's crash the stock market so stock values can drop to 2019 levels as well.
Do the right wingers wish for that?
I say, "be careful what you ask for as you might get it."
As for gas prices, right wingers want to bring gas prices back down to when Trump was in office for his first term.
I say, when, during Trump's first term? Are you talking about around March of 2020 when oil was at the record low of $0 per barrel? That was when oil demand plummeted, around 95% of airlines were grounded, cars were sitting in the driveway and people were staying home. Biden accused of hiding in the basement.
It cost more money to store the toxic substance called "oil" at the wellhead, than it could be sold on the market for. Oil drillers started turning off the wells.
The global warming carbon footprint went down, the polluted skies got clearer and life became more mellow. Some people thought that period of quiet was almost like being in heaven.
Okay, after 2021, the economy is basically back to normal again, so prices are higher due to demand. In spite of Joe Biden, oil production, in USA, have hit record levels even before Trump took office for his second term. Carbon footprint is back up to normal again, and some folks are denying that global warming even needs to be addressed.
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