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@walker 1723513220

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.

6325❤️96🤙38💯7💜4🚀4👍2

One hundred thousand percent... Like inflation.

Yes, Trump was even bad even before the covid response. Both sides need the money printer brrrrring, neither side wants smaller government.

tl;dr ➡️ study Austrian Economics with nostr:npub10qrssqjsydd38j8mv7h27dq0ynpns3djgu88mhr7cr2qcqrgyezspkxqj8 https://youtube.com/playlist?list=PLQVlIVuMPXLY08XgLUdnknB4B28WLmG-z&si=AR3GjqlQcgFEI6Re

The guy is a pathological liar and career scammer.

Mister Great 😎♻️ 🚛 🍏 🗽 🥾 🌆 ⚡ · 94w

It's good people are asking the right questions and finally taking notice.

Would have been the same with both of them

AaNon 🤔 · 94w

Bringing Community Notes to Nostr 😒

Important factor that people should understand is that bank reserves is not money creation in the real economy. That comes from a function of commercial bank lending activity, or fiscal spending

Ranger Andy · 94w

rugged.rug · 94w

Correct. Caveat M2 FRED report on economy is only slightly better than Pfizer's vaccine efficacy report.

BTCrevolutionary · 94w

Inflation is always up and to the right. Doesn’t matter who the president is..

Ben Ewing · 94w

Well maybe not. Maybe he could have signed executive orders to stop congress raising the debt ceiling or something. That oughta do it

Fernando Falci ⚡️ · 94w

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

Wait where is the "Trump good, Biden bad" message that the cointards are pining for.

Kian Jer · 94w

Yup. As a bystander, i think trump’s announcement of his standpoints have gotten much more neutral and sensible e.g. on abortion and education. But as a politician, he still conveys certain messages in an (intentionally) extreme manner. Probably needs to continue brainwashing people using exagge...

Bitcoinopa · 94w

Of course the monetary inflation was high under Trump as well, but the combination with failed energy politic and overregulation speed up the consumer prices

TeslaLiberty · 94w

True but he Got played on the covid scam. He shut down the country and had to print. What in the M2 between 2017 and 2020 ?

Aintdatsumish · 94w

Only BTC fixes this…

💯 thanks for calling out BS.

VictorieeMan · 94w

In gold terms they did somehow manage to hold the dollar value pretty stable. But that's over since about 2020. https://image.nostr.build/82d520747da76ee4a6cb7496167fa19f82bff49e2f7e5174961da854f197f7d2.jpg

Brandon Tompkins · 94w

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...

You had me at Trump just said + false, but thanks for the explanation anyway.

Ben Weeks ⚡ · 94w

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

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 · 94w

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 · 94w

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.