walker on Nostr: On this Elon/Trump talk, Trump just said “we would have no inflation” if not for ...
On this Elon/Trump talk, Trump just said “we would have no inflation” if not for Biden. This is false.
I think it’s important to clarify that there *was* massive inflation during Trump’s administration.
From January 2017 to January 2021, the M2 money supply increased from ~$13.3 trillion to ~$19.4 trillion by January 2021.
That’s an INFLATION of ~$6.1 trillion, or ~45%.
There is a LAG between monetary inflation and general price increases throughout the economy, and price increases do not happen uniformly (look up the Cantillon Effect).
To clarify for the partisans out there: this is NOT an attempt to make excuses for Biden or to say that the monetary and fiscal policies under Biden are good; they are not good.
The point is that it is false to say “there was no inflation” under Trump.
Monetary inflation *is* inflation.
Published at
2024-08-13 03:40:20Event JSON
{
"id": "cf7d5cf875e038ff716c29439ca41425196687a63aadafd8df828a72975825bf",
"pubkey": "c48e29f04b482cc01ca1f9ef8c86ef8318c059e0e9353235162f080f26e14c11",
"created_at": 1723513220,
"kind": 1,
"tags": [
[
"imeta",
"url https://i.nostr.build/5JWYZ5ym0aOunkCZ.jpg",
"blurhash eERpIC4:0LIoIoR*WARjWBoL4os-s:s:t6WCRjaejZWC4:jYs-WBj?",
"dim 1290x1205"
],
[
"r",
"https://i.nostr.build/5JWYZ5ym0aOunkCZ.jpg"
]
],
"content": "On this Elon/Trump talk, Trump just said “we would have no inflation” if not for Biden. This is false. \n\nI think it’s important to clarify that there *was* massive inflation during Trump’s administration. \n\nFrom January 2017 to January 2021, the M2 money supply increased from ~$13.3 trillion to ~$19.4 trillion by January 2021.\n\nThat’s an INFLATION of ~$6.1 trillion, or ~45%.\n\nThere is a LAG between monetary inflation and general price increases throughout the economy, and price increases do not happen uniformly (look up the Cantillon Effect).\n\nTo clarify for the partisans out there: this is NOT an attempt to make excuses for Biden or to say that the monetary and fiscal policies under Biden are good; they are not good.\n\nThe point is that it is false to say “there was no inflation” under Trump. \n\nMonetary inflation *is* inflation. https://i.nostr.build/5JWYZ5ym0aOunkCZ.jpg ",
"sig": "1b653967cc9c395650b489ce18bf3d9088a269e8b7a0710a2bb414986ac8b8f3a13762af7755b53365028ae81614181fc03ec86e66183e6b7c92a3fb957e0e9e"
}
