I posted this recently, but:
Markk wrote:I'm trying to get these folks to open up a bit, and actually have a conversation
I believe we can objectively show that both Trump and Biden had their foots on the throttle of the money printing machine,
Similar graph here and I'll let the Federal Reserve make the point:
https://www.stlouisfed.org/on-the-econo ... ary%202020.
St. Louis Fed wrote:Figure 1 shows that recent inflation behavior has been consistent with a lagged effect of M2 on personal consumption expenditures (PCE) inflation. That is, PCE inflation (red line) began to rise in February 2021, at the peak of M2 growth rates and a year after M2 growth began soaring in February 2020.
So, there's the correlation between M2 and inflation. It takes time for money to circulate, and the effects in the form of inflation don't manifest on day one. That being the case, if we're going to blame the president in office as at fault for the money creation (and given Trump insisted on signing the checks himself, no president in history better deserves credit for it) then Trump clearly wins as the inflationary president. That was your criteria, who is "printing the money".
We also have the constant threats and pressure of Trump against Jerome Powell, to do what, Markk? Can you guess? Here's one example from 2019
https://www.cnbc.com/2019/09/18/Trump-s ... ision.html
The president was apparently looking for a much larger cut; he had called for the Fed to bring interest rates “down to ZERO, or less,” just last week.
Now, let's tie two concept together. You insisted we talk about "money printing" but obviously, the president doesn't have a machine in the White House that literally prints money -- or is that what you think? If you meant it as a metaphor, explain the metaphor.
To the extent that presidents can be blamed for inflation, nobody deserves the blame more than Trump.
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