1ºstephen gross - I think you left out a few things...right. you brought up biden so let's talk about trump. so instead of just embracing hard MASK mandates and keep the economy rolling, your buddy trump decided to shut down the economy for 3 months and give money to any business to pay employees and themselves for doing nothing ( talk about flooding the usa with cash) much of which went into the bank accounts of those folks who weren't doing / couldn't do anything but sit at home and zoom. then he politicalized masks ( the only thing that really works in preventing covid) so a bunch of people died and it scared the crap out of the public so nobody went out to stores or restaurants etc. so trump sent out more cash directly this time to people...all people not just those that needed it, which again went into many folks bank accounts. so yes then biden took over / after the insurrection and bs with trumpers and he had to clean up isle 45. biden got people to believe in the vaccines and got people to start coming out of their homes. people had money to spend and they started spending using up the extra $$ they had from government. because the supply chains across the US had been stopped for 3 plus months and nothing was in the pipeline to ship, along with copycat shutdowns globally...the goods on the shelf got higher in price...supply and demand pricing...like a 2x4 for example went from $2 to $10. that where the inflation came from/ started...demand has not slowed down even though many prices have come down, and with folks not wanting to work anymore and taking early retirements the cost of labor has hit companies hard and when labor rates go up...prices go up, dah. if you need anymore help understanding this just ask.
2ºtom tindall - depending on what you do for a living I would say most folks have seen an increase in wages. even way back in 1990 when purchasing my 1st home it wasn't easy to qualify and home ownership. the 80's inflation drove interests rates way over what they are now driving costs down eventually. my point here is / was that the fed lending money to the banks for zero or less than 1% is not a thing that can happen for ever and leaves the fed with no tools to speed up or slow down the economy. https://www.huduser.gov/p...4/summer94.html
3ºFrank Cap - criticizing Trump for the 2020 actions only works in hindsight. I don't recall many arguments against it at the time. There were however many who wanted it to continue when he wanted to open back up. You can see the results if you look at factors such as unemployment and GDP by state. Red states by and large saw faster recoveries.
The money spent was inflationary. But Biden by continuing the spending doubled the problem.
The spending bill passed this week will probably add another 0.5% to the inflation equation over 2023-24.
As for Covid, the most significant impact was vaccines and Operation WarpSpeed delivered shots in arms in 12 months when initially the experts were saying 2 years at best.
As for masks, only N95 make a difference. Those cloth masks are the equivalent of N05 - if properly worn and laundered daily.
If you need help on other topics, don't hesitate to ask.
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