The largest blemish on Joe Biden’s economic legacy is the fact that, despite robust growth, low unemployment and a roaring stock market, many Americans felt worse off during his presidency than they did before. One of the reasons behind this seeming disconnect is simple and it has to do with inflation, disinflation and wage growth, or the lack thereof.[...]
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43 sats \ 4 replies \ @Undisciplined 21h
That wording is like the "I'm sorry if your feelings were hurt." kind of apology.
His blemish was just historically bad inflation. Such ridiculous apologetics.
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23 sats \ 3 replies \ @0xbitcoiner OP 21h
I'm not aware of all of biden's work, so what you're saying is that he was to blame for high inflation?
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31 sats \ 2 replies \ @Undisciplined 21h
I think presidents get too much credit and too much blame, when most of the same things would happen without them. I'm just pointing out that downplaying historically high inflation as a "blemish" is pretty funny.
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35 sats \ 1 reply \ @SimpleStacker 19h
A blemish suggests that his presidency was otherwise good except for this one thing.
His presidency was an utter disaster in almost every area, and I can hardly think of a single aspect of American life that got better under his presidency. Maybe the only good thing was the Afghanistan withdrawal, but even then the execution was an embarrassment.
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30 sats \ 0 replies \ @Undisciplined 19h
I tend to be much more generous on the Afghanistan withdrawal than most of his critics, because I think it was always going to be a disaster.
I don't think it had to be a disaster, mind you, but the generals intentionally create those situations, because the military-industrial complex doesn't want the withdrawal. That's why Trump never withdrew: it was always too dangerous and the generals never prepared for the withdrawals that he told them to prepare for.
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30 sats \ 0 replies \ @0xbitcoiner OP 21h
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0 sats \ 0 replies \ @dough 9h
Remember Inflation is always and everywhere, a monetary phenomenon. Fiscal policy can only do so much. The dirty work of reigning inflation largely left to the Fed. I won't hold my breath
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0 sats \ 0 replies \ @Msd0457890 18h
Inflation is something present in all governments, not just Biden's. Biden has certainly made us believe that he has achieved great things economically, but that has not been the case.
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