Damus
Open in Damus
walker profile picture
walker
@walker
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.
2425❤️95🤙38💯7💜4🚀4👍2
Azz · 84w
Yes. The belief that conservative parties are good economic managers is a lie. They are all playing Keynesian games.
mf · 84w
The show must go on.
Existential Experimentalist · 84w
I think that alone should be enough to temporarily dismiss his honesty about Bitcoin.
walker · 84w
tl;dr ➡️ study Austrian Economics with nostr:npub10qrssqjsydd38j8mv7h27dq0ynpns3djgu88mhr7cr2qcqrgyezspkxqj8 https://youtube.com/playlist?list=PLQVlIVuMPXLY08XgLUdnknB4B28WLmG-z&si=AR3GjqlQcgFEI6Re
Fernando Falci ⚡️ · 84w
Point taken. But expansion of M2 is not the same as inflation. It sure can lead to one, but a health economy expands M2 as it grows
Brandon Tompkins · 84w
You're right, there are a few things to consider. It doesn't matter who becomes president of the United States, However in order to have "deflation" or reduce "inflation" one of the only key metrics that can have a major impact on "price" is energy costs. Reduce energy costs and the cost of livin...
acronym · 84w
You had me at Trump just said + false, but thanks for the explanation anyway.
Ben Weeks ⚡ · 84w
Yeah, seemed odd he's claiming he will stop it but didn't when he was in office. I didn't hear the full thing, just summary notes from: https://x.com/VigilantFox/status/1823219838367465643
Carl · 84w
Agreed. But had the leftist Governors not enslaved their populations over a virus merely 99.9% survive, things would have been a hellluva lot better as far as many states go. We in Michigan took MILLIONS to Indiana, Florida, etc; to get some freedom. I drove to Florida 5X’s during the Bullshit (b...
AlerionTerolian · 84w
Anyone with a rudimentary knowledge of monetary policy could have told you inflation was on the way as soon as politicians started talking about stimulus. Especially at a time when the global amount of goods being produced was falling due to the lockdown. Biden just doubled down on Trumps failed po...
Tyler Burns · 84w
Yup, doesn't matter who is in charge of the money printer. At this point, whoever it is will keep printing to keep the fiat system afloat.