Posted on 07/05/2022 6:12:32 AM PDT by lightman
Former President Donald Trump said on July 4 that the decades-high inflation that has battered American households would have never happened on his watch.
In a post on the Truth Social platform, Trump wished his 3.4 million followers a happy Independence Day while decrying the state of the nation under President Joe Biden.
“I know it’s not looking good for our Country right now, with a major War raging out of control in Europe, the Highest Inflation in memory, the worst 6 month Stock Market start in History, the highest Energy Prices EVER,” Trump wrote, enumerating some of the key woes impacting Americans.
The former president added that “none of these terrible events would have happened” if he were still in the Oval Office.
But “don’t worry,” Trump added, “we will MAKE AMERICA GREAT AGAIN,” once again implying he might seek reelection.
Trump has on a number of occasions teased a possible run in 2024 but has never made any definitive statements to that effect.
“I don’t want to comment on running, but I think a lot of people are going to be very happy by my decision,” he said in an April interview.
One thing that might stop him from running is if his health takes a turn for the worse, though he was quick to add that he feels fine.
‘Heartbreaking’
Stephen Moore, former economic adviser to the Trump White House, told EpochTV’s “Fresh Look America” program that, if Trump were still in power, “we would have the economy flying high right now.”
Under Trump, the United States had low unemployment and low inflation at the same time, while enjoying energy independence, he said.
“It’s heartbreaking to see a country that under Donald Trump was now energy independent. We weren’t reliant on other countries, whether Saudi Arabia or Russia or Iran or Venezuela or Mexico, we were producing all the energy we needed,” Moore said.
“Now we have a president who has to go hat in hand to the Saudis and beg them to produce more oil, it’s humiliating, it’s a threat to America’s national defense, it makes the country look weak,” he added.
Moore expressed concern about signs that the U.S. economy is slowing down, saying that if a recession does materialize, he hopes it’ll be mild and “not a crash landing.”
“What’s really frustrating to me is that the contraction of the economy we’re seeing really is the opposite of what we should be seeing if we had stuck with Donald Trump’s policies,” Moore said.
The current economic downturn is “a result of almost every decision that Joe Biden has made on the economy,” Moore said, insisting that, if Trump were still in power, the economy would be “flying high.”
Sure it would. To begin with, inflation is a global problem right now and the idea that the U.S. would have avoided it is ridiculous. The seeds of inflation were sowed under Trump with the massive government spending in COVID relief. The supply chain issues would have happened regardless of who was in the White House. The question should be would inflation be as bad under Trump as it is under Biden? Hard to tell. Trump was willing to make some of the same mistakes as Biden in terms of COVID relief but there are other actions that Biden has taken which Trump would not have. So it is not unlikely that under Trump inflation would be a few points lower, and the coming recession likely have been shorter and shallower.
That's the fact Jack. The economy was doing so well during Xiden's first few months in office that he did, in fact, try to take credit for it.
You can look it up.
The driver of massive inflation is energy. The more energy available to a society, the cheaper manufacturing becomes and the lower the prices of goods, the lower inflation becomes.
Biden’s Day One killing of the energy sector began the fall into recession and, if his plan works, depression.
“We would still be a net exporter of energy.”
Indeed. That’s a undeniable fact.
Between the proven oil reserves in Alaska and the Green River Oil Shales in Colorado/Utah, the USA has more oil than all of the Middle East combined. We just need to get the feds, bureaucrats and the green weenies out of the way.
BS. Gas would be $2.00/gal right now under Trump II.
“Sure it would. To begin with, inflation is a global problem right now and the idea that the U.S. would have avoided it is ridiculous.”
Total utter nonsense (your Trump hate has deluded you). The root cause of the supply chain crisis was generated by gas / diesel fuel costs. The secondary issues could have been handled too.
Oil at less than $50 a barrel (through a continuation of us his policy) and pumps around $2.00 a gallon would have solve 85% of the problem. Russia would have never invaded with oil so cheap (they could not afford it).
No crippling inflation stimulus. The backed up supply ships would have been unloaded immediately. A tough China policy would have spurn them into releasing the needed exports, etc... Also, having a smart businessman running the economy to fix things on the fly is not a bad thing.
The world would be a much a much different place. Again, stolen elections have consequences.
The damage is done. It will take years to work all of this fake money through the system.
But Putin...
Inflation is not soley caused by expensive crude oil but it doesn’t help it at all.
Oil costs are one of the factors for the current inflation rates but not the only one.
Unlikely, but even if it was inflation rates would still be significantly higher than Trump's first term.
If you believe that oil is just one factor, then you have no idea what you are talking about - without cheap, plentiful, and massive energy supply, then we may as well live in the Middle Ages
Facts have enlightened me. 2022 Inflation Rates by Country
The root cause of the supply chain crisis was generated by gas / diesel fuel costs.
The supply chain issue was caused by the COVID shutdowns. Current high fuel prices have just made the problem more expensive. It didn't cause it.
If you believe that oil is the only factor then I could say the same about you.
Just go back an live in a society without cheap, plentiful and massive energy supplies
Conflating issues - cheap, plentiful energy with money supply is silly.
Again we are not talking about a commodity, but an entire sector that produces cheap plentiful energy - without which all other factors are irrelevant.
Try living in the Middle Ages if you believe cheap plentiful energy is just one factor,
“Inflation is not soley caused by expensive crude oil but it doesn’t help it at all.”
Put a percentage to it? I guessed 85%. Since 3x to 4x more expensive crude oil has a big impact on transportation, energy, and manufacturing. Oil is also used in air compressors (22% of energy use in manufacturing is use to create air), generators, mechanical machinery, assembly lines, etc... But I did mention huge supply ships stuck in docks, Ukraine war not happening, pressure on trading partners, no crippling 1.2 trillion stimulus, and increasing manufacturing in US.
But tripling the cost of manufacturing and transporting goods has to have a very large impact.
Exactly correct. We'd have inflation now. The question is, would it be the decades high inflation we have now? Hard to tell, what we can say with all confidence is that it was made much worse by Biden & the Democrats spending additional TRILLIONS we did not have.
The supply chain issues IMO would be just as bad.
The recession we're NOW IN would be shorter under Legit President Trump, of that I have no doubt. Why? Because of the TRILLIONS that were printed under Biden wouldn't have been printed under Legit President Trump *AND* people wouldn't have been paid to stay home and not work through Sept. 2021l like they were under Biden.
We'd be better off under Legit President Trump.
I believe that's true, and we'd still be a net exporter of energy, which would put a lid on global inflation. Win/Win under Legit President Trump.
Lose/Lose under this GASSHOLE BIDEN.
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