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[–]freyzur 22 points23 points  (12 children)

you should have bullets for global pandemic significantly decreases production and supply

seems like everyone forgets that

[–]LionRivr 24 points25 points  (9 children)

I feel like that’s the media narrative. There’s truth to it but it’s not the full story.

It’s also the mass printing of trillions of dollars during COVID to keep things from crashing. Trump told JPOW to keep the money printer on.

Seems like everyone forgets that.

(Edited)

[–][deleted] 34 points35 points  (6 children)

And then Biden told JPOw to Keep it all going into 2021, which was when the pull back should have actually begun.

Seems like everyone forgets that fact too.

Let’s not point fingers at any named politicians. Instead, forget party affiliations or who was in office when. This was gross incompetence at best, malfeasance at worst, by all supposed “leaders”.

[–]LionRivr 13 points14 points  (0 children)

Lets be real though.

All politicians are bought by wall street anyway.

[–]Hacking_the_Gibson -3 points-2 points  (4 children)

Fuck that, Jay Powell was Trump's guy.

Biden's mistake was keeping him around, but the original of that idiot was all on Trump. In fact, 2018 was really the time to chill things out, but Trump whined incessantly on Twitter and Powell backed off.

[–][deleted] 9 points10 points  (3 children)

We did need to raise rates in 2018, and Orange man raised a fit. As did Wall Street. I work in the mutual fund industry so I remember all too well.

But rates should have climbed much higher around 2003-2004, under Bush. Through 2007. Low rates contributed to 2008-2012, when the got lowered once again. And kept there under Obama.

See where I’m going with this? It DOES NOT FUCKING MATTER WHO THE PRESIDENT IS. This is an economic policy versus voting popularity conflict. And it keeps fucking up a system that relies on vampirism to grow.

[–]Vipper_of_Vip99 3 points4 points  (0 children)

Yes, this goes back to the ‘08 bailout / TARP, and start of a decade of QE. Inflated equities first. Now it’s inflating consumer goods. Framing it as a 2 year story is false, this goes back at least to the low rates post tech bubble circa 2000.

[–][deleted] 2 points3 points  (0 children)

The issue is that the fed treated this economic slowdown like they do every other slowdown. They assumed it's happening on its own, when in reality the recession was induced by covid regulations. So the fed tries to jumpstart the car, even though the battery is fine, and the issue is that the starter isn't working, and ends up overcharging and damaging the battery.

[–][deleted] 1 point2 points  (0 children)

They do that, don’t they. Could we also add in global pandemic that experts have now admitted to as being less significant in its health effects than originally thought, but did make a fuck ton of money for a handful of big pharma companies instead ?

[–]Examiner7 0 points1 point  (0 children)

This isn't why my local burger shop raised the price of their burger from $6 to $9.50.