Manchin tears into Biden over failing to stop record inflation

The Fed chair, Powell, was nominated by Trump. Trump was the one who pressured Powell constantly to reduce interest rates. In contrast, Biden has been quiet about the Fed, even in the light of the rate hikes. So, I don't see how Fed actions have anything to do with Biden, since the Fed is an independent agency that the president has little control over.

I am curious, though, how Trump or DeSantis will curb inflation, should one of them be elected in 2024, which seems more and more likely. Are they going to give another tax cut on the national credit card? That should fix things - not.

 

Hardly a random imbecile. He is a Democratic Senator who to a certain degree has prevented Biden from implementing his agenda. lol

Perhaps the idiots are the people who don't understand that Manchin does not represent a "progressive" State.

With or without Manchin, there will be plenty of soundbites available for the midterm elections.

 

I've seen that a number of times in mainstream media..

"Without any one of those decisions, Grant Town might have closed, leaving Manchin’s family business without its top customer.

That has created a “huge conflict of interest problem” for Manchin, said Walter Shaub, who ran the U.S. Office of Government Ethics during the Obama administration.

“All of this is stuff that is so insane, any person who has no interest in any of this would clearly say this should be against the rules, but then the people who get in the position to change the rules have these conflicts and they have no interest in solving them,” said Shaub, who is now a senior ethics fellow at the nonpartisan Project On Government Oversight."
https://www.politico.com/news/2022/02/08/manchin-family-coal-company-00003218

 

Good question, oil companies are very nice to people that are nice to them. I get the feeling there is more, but it's just a feeling.

 

There is not much any administration can do to help combat inflation. The only sure way to combat inflation is either to contract the Money Supply or raise interest rates significantly. Either way, it will cause a recession in the economy. Most of the problems are supply chain disruptions and businesses slow to increase production for one reason or another. And no government has control over that.

 

Actually, that is part of the reason why no one in Congress is demanding oil production companies to produce more quickly. Do that and those stock prices will fall because EPS would also fall.

 

JFC people.

Inflation is currently GLOBAL, and America produces NOTHING. So since we are importing everything from other nations, who are also racked by Inflation, HOW in the hell is Joe supposed to stop it ?

The right wanted to bust unions, so nobody has any real money. They wanted to outsource manufacturing to third world countries because it was cheaper than american labor, and now that those countries also have growing inflation, thus increasing prices on the things we consume, so yeah, lets blame the current guy for everything

 

Hilarious, was the pandemic global? Did you not post often how it was a Trump problem? Do you admit America is facing higher inflation than most of the globe post pandemic? Just own it, Biden faced the easiest financial recover in history as we came out of a pandemic, every economist predicted massive quick recovery numbers. The left wanted a win and sweeten the pie and immediately lead to hyper demand and inflation followed and the recovery is now about to turn into a recission.

 

The pandemic is/was global. Australia, the Philippines, Japan, China, Europe, etc were all affected by the pandemic. Most of the people followed what the government said and did, especially Asian countries Not all, like India locked down and India still refuses to provide reliable Covid data. Japan, the Philippines, and Australia are just now starting to open up. Since China is still dealing with Covid and that is one of the major reasons for supply chain disruptions, then everybody is affected.

 

China no doubt is a problem that lead to some inflation, so I assume you agree we should do everything we can to get manufacturing back on our home soil to avoid this problem in the future?

 

If you want prices to go up a lot faster than they are now, sure, increase manufacturing here. That $5 item you buy that is made in China will now be $10 made in the USA. Congrats.

Some factories in China are moving to Southern Vietnam right now. It's slow, but it's going on. Other manufacturers are just waiting it out, being patient.

 

Hmmm you sure it would be that much if you gave them the same tax breaks? You sure it's not already that much today?

 

Tax breaks aren't going to help that much. The biggest cost would be labor, parts, and administrative costs (rent/construction, utilities, management) except for taxes.

 

Yes, I said it started under Trump. Dont misunderstand my countering those that blame the Biden admin to point out that Trump did the very same things, but on a grander scale, as defense of either. But to claim that inflation started the day Biden took office is beyond ridiculous as the US economy does not react to policy as quick as those who blame Biden would like to think it does.

YES, America is facing high inflation. But thats simply because of policies enacted over the last 20 years that outsourced almost everything we consume in this country. You blame Biden for this yet your graphs show inflation starting to rise in Jan 2021, when Biden had not even enacted one law/policy yet. When yu look at the true growth of inflation in this country, it was long before any policy Biden passed had time to have an effect on the economy. Every honest person will admit that fiscal policies can take months if not years to truly have an effect on the overall economy. Its like when you all start screaming about Bidens stimulus being bad, yet completely gloss over the fact that Trumps stimulus was actually larger.

You also all seem to be refusing to account for the Pandemic and the quick reaction globally, to the end of the pandemic and the great rush to catch up on 2 years of not consuming anything outside of the necessities of life. Then account for the fact that we in the US dont make anything, we are mainly a service economy, and that everything is made in other countries, and the inflation in those countries is passed thru on the goods that we consume, as well as the markup of that inflation on those very products. Of course we have higher inflation than most because we are not a manufacturing economy, and all of the costs +, of that manufacturing are passed on when we consume, thus inflation is higher here.

 

Agreed, nothing more then legalized insider trading!

 

The recession looming on the horizon might take care of that....

 

When desperation/deflection is all you've got....

 

Do you think Democrats didn't vote for NAFTA or a Dem President didn't sign NAFTA. lol

At least Trump stopped the TPP outsourcing of even more jobs.

It was Trump that stopped outsourcing Federal Government jobs to imported foreign workers.

It was Trump that proposed a tariff to bring back outsourced jobs.

It was Trump that tried to prevent Ford from moving small car production to Mexico.

American inflation is based on Biden's monetary policy. I have posted at least three previous links to Larry Summers explaining a year ago how this was going to happen.

So what is Biden's plan to address inflation?

 

Let's not jump the gun. Biden is President. What is his plan?

FYI. Powell was re-nominated by Biden. Keep up.

 

And? What do YOU think the plan should be? Pressure the FED to raise rates? They are doing this already (I mean the FED is raising rates, but Biden is not pressuring them, as it should be). Take over the private sector to remove breaks in the supply chain? Raise taxes? Cut taxes? Come on, don't be shy, tell us about your quick fix to the inflation problem.

 

lol. Way to deflect, bobbing and waving like Joe Frazier in his prime. I am not President. It does not matter what my solution is. Biden is President. So it matter what his solution is. And you seem to think he does not have one.

My approach for economics would be to implement Economics as described by Adam Smith in his classic Wealth of Nations. Cut Government programs, strive towards a balanced budget, maximize US energy production, stop paying people not to work, and stop importing cheap labor would be a sound approach. In other words stop spending money like a drunken sailor. The solution to economic problems is always to be found in free market economics. Paying people not to work or paying people to perform parasitic make-work or no-show jobs IMHO makes a considerable contribution to inflation.

 

LOL! In other words, you have nothing. It's like the rest of the Trumpers, they cry and cry about Biden and inflation, pretending that there would be some easy and quick fix, if only Dems were not in power. Then, if you ask them about the fix, they can't come up with anything.

I tell you what the most important fix is, even though it is not quick: Raise interest rates, which the FED is doing. The risk is that if they do it too fast, they start a recession. You see, being a FED chairman requires a little more thought than bleating "Biden bad" on an anonymous internet forum. Simplistic answers to complex problems, which inflation is, rarely work.

 

If you think Jet has "nothing" it's obvious you're clueless about economics.

 

I asked him what HIS fix to inflation would be. He rattled off a laundry list of old, tired conservative talking points in response, nothing specific that would address inflation. But, maybe YOU can give it a try. What would YOUR fix be.

 

lol. More strawman bobbing and weaving. I did not say anything about an easy fix. Saying I did so is a blatant strawman fallacy.

I asked what Biden's proposed solution is. He does not have one that you could provide.

I did not ask for your solution. You are no more President than I am. I want to know the President's solution. If Biden's solution is to raise interest rates, then point out when and where he said so. Point out Biden's proposed solution. Put up or shut up time.

Like most Americans, I am interested in a President that has proposed solutions to problems. Not a President who ducks and dodges hard problems.