This is remotely true. Why has the US been able to bring inflation under control while Europe has not?
I literally posted two articles by the Federal Reserve that studied and estimated the impact. It isn’t like the Federal Reserve is a conservative think tank. I’m not going to search for them but economists/strategists at investment banks (JP Morgan, BofA, etc) began updating their models for inflation at the time. What you’re asking (U.S. vs Europe) is a different question than what I stated (U.S with or without a policy). I don’t study or work with European economies so I won’t claim to be an expert but on the surface the U.S. is a more dynamic economy. We use less energy as a percentage of GDP output and we are less reliant on imports (which saw massive increase in prices in Europe but much less so here). Additionally, they import grain from Ukraine. There is just a much more direct impact from the war there than we see in the U.S.
Do you understand the difference between practitioners and propaganda? I’m not going to argue. It’s plainly obvious that sending money to people (increasing demand) while the economy has supply constraints will increase the price of goods.
There were other parts. In total it was a $1.9 trillion stimulus plan to an economy that wasn’t in need of stimulus. The research linked above estimates the inflationary impact.
You can argue that it was too ham fisted and we would have come out even farther out in #1 for recoveries with auto triggers for stimulus spread out but saying we needed none is very silly
It's funny when a libertarian finger wags policy when their answer to every situation is to basically just let people die until shit sorts itself out
I wasn’t arguing policy. I was acknowledging the obvious inflationary impact of policy decisions. I don’t see a point in arguing whether he should have done it if people can’t even acknowledge it did increase inflation.
Just saying it increased inflation really means nothing without the context of why it was done. Unless the government is just never supposed to address problems... oh yeah right forgot what thread I'm in.
Your phrasing continues to imply that it was a major contributor to inflation when in reality you know it wasn't anywhere close
I like how you always focus on the least important discussions to have. Whether we need to do it or not is far more important than quibbling over the inflation impact. But I also assume you're in the monetarist lane
Seems like blind ideology that doesn't factor in outcomes at all. But again this is the thread we're in
Wasn't about 1/3 of inflation driven by stimulus and the remainder by other factors? The stimulus unequivocally worked and the Libertarian response of "do nothing and let the lower and middle class get destroyed" would've set this country back a decade or more
I think I would respect libertarians a lot more if one of them had the balls to declare that poor people just need to die. But as you render the ideology down further and further it just always ends in this panicked effort to avoid stating the bottom line, feathering out in all directions wildly, hoping their smart friends won't see their monstrous views for what they are
excess spending power b/c ppl sat at home saving money during a pandemic + getting Trump's stimulus checks (yea, they were his he made sure his signature was on them) was just as inflationary as the IRA (which, correctly, has reduced inflation).
Believing in Chicago Boys economics is the equivalent of believing in Santa Claus except there's a shit ton of human suffering involved and no one except the 1% ever get presents
sorta wild that republicans are waging the biggest illiberal culture war of our lifetime and libertarians keep finding ways to side with them
It’s honestly one of the weirdest undiscussed aspects of our current, let’s call it “situation”. The ultimate arranged marriage between religious fundamentalists getting their desired suppression of all types via the courts and our freedom lovers getting to lean heavily on “spending and federal government bad” and not much else even though they’ve aligned with extremists looking to strip civil liberties wherever possible. Which they claim to care about. Maybe the gop is a big tent party after all.
just once you'd like to see the societal issues win the day forget that trumpism fiscal policy is far far far more away from their desires than Bidenism
Getting a lot of Mussolini finding Hitler to be off putting and buffoonish after their first meeting vibes from this.
Could Tucker not get Ru, Rand, Chris, Aaron, Jake or Logan before having to settle for Ron Paul? All of those Paul’s have at least been relevant in the last decade.
Libertarians are fascists and so are republicans. There's literally no difference between the two. Every time they have a chance to show they actually have real beliefs (BLM protests being a major one) they always go against whatever they claim their beliefs are to literally side with nazis and white supremacists. EVERY SINGLE TIME Lets not give them the benefit of the doubt by calling them dumb. They're nefarious and know what they're doing just like the rest of their evil butt buddies
One could say similar things about endorsements from Hollywood. I don’t know who he is or care. I just thought it was a hilarious way to end a fight.
I really loathe the "austrian school". Its not even economics. There's no math or intellectual rigor behind any of their ideas or policy prescriptions. It's just ayn rand without the literary artifice.
For those who don't know the Australian school treats this as a feature not a bug. It's hilariously un serious.
Cage fighters embracing system that would have them haggle for medical treatment at point of service.
They are libertarians, the whole plan is to get dumbasses LARPing about land, when all they want to do is exploit people. That's literally the ideology.
It shows you that libertarians aren't really any different than run of the mill conservatives despite pretending to be