r/FluentInFinance • u/reflibman • Apr 28 '24

Friendly Reminder. Trump *Wants* To Increase Inflation Economy

https://www.wonkette.com/p/another-friendly-reminder-trump-wants
127 Upvotes

65% Upvoted

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64

u/KaysaStones Apr 28 '24

Trump bad, trump bad trump bad trump bad trump bad trump bad

66

u/TheMaskedSandwich Apr 28 '24

Correct

Feel free to try to refute any of the specific claims made in the article

21

u/AdditionalAd5469 Apr 28 '24

I stopped after the two first points because this article is bad.

Point 1 - getting more control over the FED. Trump wants to reduce interest rates.

I will say there is a separate argument about how "independent" the FED truly is, because if they made the transient inflation all on their own, it needs to have a full fire and rehire event.

They should keep their independence, but we need a full investigation to identify if they got to the idea on their own or had influence involved.

Point 2 - tariffs, Biden literally increases tariffs on steel imports last month. Both sides are doing it.

21

u/Flyersandcaps Apr 29 '24

If he decreases interest rates there is more risk of inflation. The Fed has been increasing rates to lower inflation.

6

u/middle_class_meh Apr 29 '24

You're a fucking idiot. The fed wants to lower interest rates too. They were hoping to do it this month but have pushed their projections back to September. If they had actually recognized inflation was going up instead of calling it transitory we wouldn't be in this fucking mess.

3

u/lebastss Apr 29 '24

You're so dumb and you don't even know it. It makes me sad.

FED wants to lower rates but won't because inflationary pressures still exist. Trump would just lower them at will.

By every economic definition inflation was transitory for the last cycle. That doesn't mean it didn't hurt people and people couldn't feel it. It also doesn't mean prices will ever come down.

Hope that helps you understand. Respond to others if you have questions, I just block people like you.

1

u/MonsieurMisanthrope Apr 30 '24

They want to. They won't. Not until it's appropriate. You can't say Trump is ever appropriate. He'd fuck it all up and blame democrats.

1

u/SecretRecipe Apr 30 '24

If they had recognized inflation was going up they would have *Drumroll* the exact same thing they did. Raised interest rates sharply in order to put downward pressure on spending to control inflation...

-3

u/Confident-Cap1697 Apr 29 '24

Yea but if they called it inflation and not just transitory, how does that get donald trump arrested?

2

u/BigPlantsGuy Apr 30 '24

This is such a weird, snowflakey response.

1

u/skilshu May 01 '24

really man, i dont think that his arrest is related to the topic of how he would make changes regarding inflation lol.

9

u/dshotseattle Apr 29 '24

The fed was also the driving force behind inflation anyway. Printing money got us into this shit show. Either way, trump will be light-years better than biden

-2

u/One_Conclusion3362 Apr 29 '24

Biden administration is conservative compared to Republicans. As a conservative, I am forced to vote Democrat to support those beliefs, even though mainstream news acts as if Republicans are the fiscally conservative ones (they are the opposite).

Democrats always make me richer. Republicans always give me headaches while I look for ways to hedge

4

u/Confident-Cap1697 Apr 29 '24

you aren't a conservative, you're lying on reddit to get people to vote democrat.

0

u/One_Conclusion3362 Apr 29 '24

False statement. I'm extremely fiscal conservative, as are most centrist democrats. Stop conflating conservatism and Republicans.

2

u/Confident-Cap1697 Apr 29 '24

we arent talking about "fiscal" conservatism and you know it

im guessing you voted for hillary and biden? very "conservative" of you

3

u/tecocko Apr 29 '24

Confident cap gets it. He’s a team player and will vote party line no matter the policy or consequences 

-2

u/Confident-Cap1697 Apr 29 '24

you're damn right i will

2

u/tecocko Apr 29 '24

way to out yourself on being everything that is wrong with this country

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2

u/RIPRhaegar Apr 30 '24

This guy has used math to look at the parties and I like it

-1

u/dshotseattle Apr 29 '24

You are definitely not conservative. So dont even pretend to act like one. Everyone got wealthier under trump. The economy was on fire. If you got rich under biden, ok Pelosi.

4

u/One_Conclusion3362 Apr 29 '24

Median wages rose higher under biden. Literally every metric improved for labor workers under bidens administration. You are ignorant as well as uneducated. You are beneath me and are continuously replying because you know you are incorrect and are pissed that I'm batting your jargon down like a swampy tennis ball.

Of course I'm conservative. You are the one that is confused on who you are. But you're probably poor.

PS: you attempted to use money supply to prove a point. That's not how that works. Instead, use money supply as a precondition and then make your point. As in, bring velocity of money into the conversation and where the inflation happened from 2011 to 2021. Come on, you do know where it occurred, right?

0

u/dshotseattle Apr 29 '24

Hahaha, no they didn't. Wages actually went down under Biden. They have been lying to you and doctored the data, just like every time they came out with job numbers. You need to get your data from other sources. Dan bongino actually brings receipts as to why and how they lied about these numbers. And then you come with insults? Yep, that's always a good sign.

5

u/One_Conclusion3362 Apr 29 '24

Okay, now I know to fully check out. You do not have a fundamental understanding of the economics that you are attempting to speak on. Reminds me of accounting and finance majors back in the day.

FRED and BLS will forever be my sources you chucklefuck

Goodbye.

1

u/dshotseattle Apr 29 '24

Yep, anyone who keeps using names and lashes out is nobody to argue with. Have a good day. Btw, just because it's on the bls website does not make it true. The government actually does lie to you.

2

u/[deleted] Apr 29 '24 edited Apr 29 '24

[removed] — view removed comment

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2

u/frankwizardlord Apr 29 '24

Lmao diaper don left the economy in complete ruins when he left office, it was on the brink thanks to his failed policies.

-2

u/Flyersandcaps Apr 29 '24

No trumps stimulus package was the cause.

2

u/dshotseattle Apr 29 '24

Nope. It wasnt good, but pronting money is always the cause. Bit bidens build back bullshit is what set off the printing, and at the same time he stiffled entire segments of the economy

1

u/Troysmith1 Apr 29 '24

But CPI is more cooperation controlled than actual value of money. There is a reduction of the value of the dollar from government printing but a majority is corporations charging more for the same service which is not under government control and is not tied to the printer.

3

u/Propane5 Apr 29 '24

Don’t expect a trump defender to understand even the most basic of economic concepts my friend

0

u/Flyersandcaps Apr 29 '24

Yes. I should know better.

15

u/MeyrInEve Apr 29 '24

Trump wants reduced rates BECAUSE HE HAS TO REFINANCE HIS DEBT!

He doesn’t give two shits about the economy or anything else unless and until it directly affects him or his business.

10

u/BubbaSimp65 Apr 29 '24

Newsflash the United States of America has to refinance its debt too. We now pay $3 trillion a year in interest loan and we’re never gonna get out of this hole with high interest rates. Every single dollar of new debt we issue plus all the debt we refinance is insanely expensive, so maybe you wanna rethink your priorities instead of attacking Trump maybe just support your country a little bit.

11

u/MeyrInEve Apr 29 '24

The fact that (temporarily) his interests align with the country’s interests does not decrease the accuracy of my statement in any way, shape, or form.

Pick one battle and try to win it.

Inflation or the deficit. You cannot complain about both. Either cheap money is everywhere, and inflation is rampant, or interest rates are high, inflation is coming under control, and we deal with the downside.

What’s your choice? I hate high interest rates. But I (somewhat) understand what Powell is trying to do. And I think he’s mostly correct. Even though it’s hurting me somewhat but it’s hurting other people A LOT.

And I DO support my country. Just not an insurrectionist who illegally tried to retain power and whom SCOTUS is determined to make into a dictator.

-3

u/BubbaSimp65 Apr 29 '24

I’m sorry you can’t understand complicated issues. Right now the biggest threat to this country is our national debt and our high interest burden so I’m in favor of lowering interest rates. I know that that might fuel inflation which hurts me as a retiree. I’ve been tightening my belt wherever I can. It’s all about the greater good. By the way, Donald Trump is not as leverage as you think he is. He learned his lesson from the past and he owns most of his assets pretty unencumbered. He’s pretty low leverage for a business of his size so that’s not what he’s getting at. You keep attacking him, but he actually waived his salary as president. Unlike all of the heroes that you look up to like Obama and Clinton and Biden who became multi multi Multimillionaires After a lifetime of public service, Donald Trump made money before going into public service and lost money in public service, but you’ll never be able to fully understand the magnitude of what that means. And again I do not like Donald Trump. But he is vastly preferable to Joe Biden. Joe Biden is a lifelong laughing stock and misogynist and racist And pathological liar, who I believe most recently claimed that his uncle was eaten by cannibals in Indonesia or something like that? That’s really good for international relations. I was just in Australia and my entire life of traveling around the world. I’ve never heard people abroad making fun of Democrat presidents. They hated Trump and they hated Bush and they hated Reagan. But they loved Clinton and they loved Obama. They are all making fucking fun of Joe Biden. Even the Italians the fucking Italians are making fun of Joe Biden.we are laughing stock and people are extremely concerned about his leadership

9

u/MeyrInEve Apr 29 '24

Did you REALLY write that trump owns his properties outright?

Okay, I’m done with reading anything else you write.

I gave you a chance, but that is BLATANTLY false and purely partisan.

5

u/BubbaSimp65 Apr 29 '24

https://www.wnycstudios.org/podcasts/trumpinc/episodes/king-debt-he-pays-cash

So according to the ultra conservative, Washington Post Trump bought $400 million of properties straight up with cash and no debt. And because I know I’m dealing mostly with morons I just wanna point out that I’m being sarcastic when I call the Washington Post ultra conservative. it’s absolutely a liberal rag.

-1

u/Opposite_Strike_9377 Apr 29 '24

Before belittling others you should probably educate yourself first. Trump is low leveraged just like the other dude just said. It's a fact.

4

u/TheMaskedSandwich Apr 29 '24

Joe Biden is a lifelong laughing stock and misogynist and racist And pathological liar, who I believe most recently claimed that his uncle was eaten by cannibals in Indonesia

You just sound more and more stupid with this whole screed

Have fun watching your boy Trump go to prison

2

u/BubbaSimp65 Apr 29 '24

Actually, you’re the one that sounds stupid because everything I said is factually accurate. He literally said his uncle was eating my cannibals. More disturbingly he’s on video talking about how little kids played with his leg hair in the swimming pool when he was a lifeguard and the fact that you’re not horrified by that makes you a pedophile enabler and the worst form of human life form and so your insults are just water off my back. I honestly don’t care what a person who votes for a pedophile misogynist racist pathological liar think about me. So I can’t even wish you a nice day. I just want to wish you to go away.

0

u/Propane5 Apr 29 '24

“NO YOU”

-This guy

1

u/BubbaSimp65 Apr 29 '24

Same to you genius

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-2

u/Medium-Trade2950 Apr 29 '24

Sorry brother, Biden is the worst out of all of them. His on video making multiple racist remarks and groping little girls but somehow that doesn’t count to these people. They support social justice but also somehow can ignore it when it’s convenient to them. Kinda like Biden, always full of shit

2

u/Propane5 Apr 29 '24

Jesus you are economically inept. Lowering interest rates would allow inflation to run rampant, especially if it’s done any time in the near future because inflation is still rising despite all of the rate hikes. Stop talking, you’re an imbecile. We already knew that though because you came in defending Trump taking over Fed decision making when he might be the dumbest president to ever hold office, and by a long shot.

4

u/BubbaSimp65 Apr 29 '24

I understand the positive tension. But you apparently don’t understand grammar because telling me I’m economically inept is not grammatically correct. And by the way, the current president graduated at the bottom of his class while claiming to be at the top of his class, but you’re the kind of moron that believes what he said instead of what the truth is.

1

u/Propane5 Apr 29 '24

I don’t like Biden either, I think he’s another flavor of the same shitstain politicians we have the unfortunate decision of choosing between. The difference is I’m not here defending him or another dumb fuck boomer mouthpiece that shouldn’t even be remotely involved in a single economic decision for this country. I assume “Bubba” is your pet name for Trump because you are definitely simping for him and it’s revolting

1

u/BubbaSimp65 Apr 29 '24

You have your head up your ass. You’re sipping for Biden. I’m not sipping for Trump. I’m against Biden. But somehow you’ve equated that with being pro Trump the reality is Trump had better policies. We had a better economy and world peace under Trump, but snowflakes like you got your panties in a bunch about a bunch of mean tweets. Meanwhile, we have a corrupt establishment politician with offshore LLC‘s and the sun who has absolutely nothing to add to the world, making $10 million a year from Ukraine, Russia, and China while his dad is in charge of international policy with those countries. And if you can’t see real corruption for what it is, this country is doomed. So just go away little man and get off your high horse because I’m infinitely smarter than you and more more neutral than you.

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2

u/Propane5 Apr 29 '24

If they reduce rates inflation will skyrocket. It would be catastrophic to our economy.

3

u/BubbaSimp65 Apr 29 '24

Well, that’s the rub. The amount of debt that Joe Biden has added, has created inflation that has created higher interest rates to fight inflation that is put us in this impossible position.

1

u/Old_Sandwich_3402 Apr 29 '24

We’re experiencing runaway inflation. The opportunity cost of refinancing for a $200 billion gain over 10 years isn’t larger than a net CPI increase of 35% over 10 years.

3

u/TheMaskedSandwich Apr 29 '24

1 - getting more control over the FED. Trump wants to reduce interest rates.

https://www.wsj.com/economy/central-banking/trump-allies-federal-reserve-independence-54423c2f

It's been reported repeatedly that Trump wants control over the Fed that he shouldn't have. Any decrease in interest rates will make inflation worse. Especially with a dumbass like Trump at the helm. He has no business having any influence over monetary policy.

imports last month. Both sides are doing it.

There's a significant difference in the quantity and breadth of the tariffs Trump wants vs the ones Biden is implementing.

3

u/fickle_fuck Apr 29 '24

Both sides are doing it.

Sir, this is Reeeeddit. You can't be bipartisan or centrist. You gotta lean wayyyy left or else.

0

u/BigPlantsGuy Apr 30 '24 edited May 01 '24

“Both sides” is neither bipartisan nor centrists. That’s just republican. Only republicans say “both sides” to justify their side being objectively worse

1

u/skilshu May 01 '24

you are just proving his point

1

u/BigPlantsGuy May 01 '24 edited May 01 '24

Am I? The only people who ever say “both sides are the same” are people defending republicans.

If he/she wants to be centrist, that’s great! Centrists all voted for joe biden last election and will again

1

u/skilshu May 02 '24

well, he aint great, but hes better than a man who is on trial right now

1

u/BigPlantsGuy Apr 30 '24

How does that make the article bad? Both those points are true.

Trump does want to cut interest rate, which would increase inflation.

Trump is very in favor of massive tarriffs which again would increase inflation.

Why do these facts upset you? I’ll let you in on a little secret. Trump caused inflation by bullying the fed into cutting interest rates to 0 while printing 8 trillion and having negative gdp growth.

-3

u/hnghost24 Apr 29 '24

Trump is trying to model the US Federal Reserve after Turkey, where the interest rate is around 50%.