An ABC-IPSOS poll published Sunday found that just 28% of Americans approve of Biden’s handling of inflation and 27% approve of his response to rising gas prices.
Inflation is a world wide problem, not just in the US. So, sticking Biden with all responsibility is nonsense. But, it’s expected the Repubs will make as much hay out of this lie to boost their chances of getting reelected. And then, our problems will really begin.
Global Economic Prospects: Russia’s invasion of Ukraine and its effects on commodity markets, supply chains, inflation, and financial conditions have steepened the slowdown in global growth. One key risk to the outlook is the possibility of high global inflation accompanied by tepid growth, reminiscent of the stagflation of the 1970s. This could eventually result in a sharp tightening of monetary policy in advanced economies, which could lead to financial stress in some.
Compounding the damage from the COVID-19 pandemic, the Russian invasion of Ukraine has magnified the slowdown in the global economy, which is entering what could become a protracted period of feeble growth and elevated inflation, according to the World Bank’s latest Global Economic Prospects report. This raises the risk of stagflation, with potentially harmful consequences for middle- and low-income economies alike.
Global growth is expected to slump from 5.7 percent in 2021 to 2.9 percent in 2022— significantly lower than 4.1 percent that was anticipated in January. It is expected to hover around that pace over 2023-24, as the war in Ukraine disrupts activity, investment, and trade in the near term, pent-up demand fades, and fiscal and monetary policy accommodation is withdrawn. As a result of the damage from the pandemic and the war, the level of per capita income in developing economies this year will be nearly 5 percent below its pre-pandemic trend.
“The war in Ukraine, lockdowns in China, supply-chain disruptions, and the risk of stagflation are hammering growth. For many countries, recession will be hard to avoid,” said World Bank President David Malpass. “Markets look forward, so it is urgent to encourage production and avoid trade restrictions. Changes in fiscal, monetary, climate and debt policy are needed to counter capital misallocation and inequality.” (cont’d)
Interesting how you can score rhetorical “points” without actually arguing anything by just pretending it’s a question. (Fox Noise works that gimmick to death. “I’m just saying, you have to ask yourself whey everybody is saying that Hillary Clinton is a cannibal”.)
Unemployment is low. Many companies that treated their employees like crap have found that people won’t take that any more, and have made significant changes. I don’t see empty shelves at the grocery store (remember those stories of the supply-chain issues that Biden supposedly caused….I’m sure those same people are praising him for helping to relieve that issue).
Yes, gas prices are high. But I’d personally rather pay twice as much for gas and be sure that I wouldn’t be wasted by a stranger who wants to show his masculinity with a big nasty gun when I go to the store or to a movie.
Why doesn’t the newspaper headlines include “Best employment picture in decades, Best wage growth in decades, Highest corporate profits in 70+ years”? Wouldn’t that have a chance of giving people a balanced, honest picture of the economy? But when has Kelley ever cared about all the facts.
Trump spend 8 Trillion dollars of borrowed money in this four years. That is 23,000 dollars per American. How long did you think that would take to play out in the American Economy? Hint, it is more than a few months after he gets kicked out of office.
Employment is robust. Inflation was much worse in the 70s-early 80s. So far, inflation looks like it’s driven by pandemic & Russian disruption of supply chains. Demand is cooling off, so this (hopefully) isn’t going to be an extended thing.
Still haven’t heard what Republicans would do differently.
Concretionist almost 2 years ago
Some experts are worrying about stagflation.
PraiseofFolly almost 2 years ago
For GOP candidates in the election/ reelection cycle: “Happy Days Are Here Again!”
kelloggs2066 almost 2 years ago
The Price of Gas jumped 40 cents a gallon last night.
Biden Voters must be Ecstatic!
It’s all just another part in the Dem War on Energy!
GiantShetlandPony almost 2 years ago
^ ^ ^ ^
Completely ignoring the oil companies are bragging that they can charge whatever they want and the rubes will blame Biden.
Fuel prices are up everywhere, not just the USA. Duh.
BubbleTape Premium Member almost 2 years ago
Better than the end of Trump`s term.
FJB Premium Member almost 2 years ago
Biden is now officially the Worst President Ever. Congrats Joe. You’re #1. And your policies are a stinky #2.
Radish the wordsmith almost 2 years ago
At least the republican insurrectionists are being exposed.
The Nodding Head almost 2 years ago
I think Biden gets too little credit. He has been able to raise gas prices all over the world! In fact, he’s caused a global economic crisis! Respect!
FJB Premium Member almost 2 years ago
An ABC-IPSOS poll published Sunday found that just 28% of Americans approve of Biden’s handling of inflation and 27% approve of his response to rising gas prices.
preacherman almost 2 years ago
Inflation is a world wide problem, not just in the US. So, sticking Biden with all responsibility is nonsense. But, it’s expected the Repubs will make as much hay out of this lie to boost their chances of getting reelected. And then, our problems will really begin.
martens almost 2 years ago
Repost (from World Bank report):
Global Economic Prospects: Russia’s invasion of Ukraine and its effects on commodity markets, supply chains, inflation, and financial conditions have steepened the slowdown in global growth. One key risk to the outlook is the possibility of high global inflation accompanied by tepid growth, reminiscent of the stagflation of the 1970s. This could eventually result in a sharp tightening of monetary policy in advanced economies, which could lead to financial stress in some.
Compounding the damage from the COVID-19 pandemic, the Russian invasion of Ukraine has magnified the slowdown in the global economy, which is entering what could become a protracted period of feeble growth and elevated inflation, according to the World Bank’s latest Global Economic Prospects report. This raises the risk of stagflation, with potentially harmful consequences for middle- and low-income economies alike.
Global growth is expected to slump from 5.7 percent in 2021 to 2.9 percent in 2022— significantly lower than 4.1 percent that was anticipated in January. It is expected to hover around that pace over 2023-24, as the war in Ukraine disrupts activity, investment, and trade in the near term, pent-up demand fades, and fiscal and monetary policy accommodation is withdrawn. As a result of the damage from the pandemic and the war, the level of per capita income in developing economies this year will be nearly 5 percent below its pre-pandemic trend.
“The war in Ukraine, lockdowns in China, supply-chain disruptions, and the risk of stagflation are hammering growth. For many countries, recession will be hard to avoid,” said World Bank President David Malpass. “Markets look forward, so it is urgent to encourage production and avoid trade restrictions. Changes in fiscal, monetary, climate and debt policy are needed to counter capital misallocation and inequality.” (cont’d)
MuddyUSA Premium Member almost 2 years ago
Holy Crap!
AndrewSihler almost 2 years ago
Interesting how you can score rhetorical “points” without actually arguing anything by just pretending it’s a question. (Fox Noise works that gimmick to death. “I’m just saying, you have to ask yourself whey everybody is saying that Hillary Clinton is a cannibal”.)
I Play One On TV almost 2 years ago
Unemployment is low. Many companies that treated their employees like crap have found that people won’t take that any more, and have made significant changes. I don’t see empty shelves at the grocery store (remember those stories of the supply-chain issues that Biden supposedly caused….I’m sure those same people are praising him for helping to relieve that issue).
Yes, gas prices are high. But I’d personally rather pay twice as much for gas and be sure that I wouldn’t be wasted by a stranger who wants to show his masculinity with a big nasty gun when I go to the store or to a movie.
Radish the wordsmith almost 2 years ago
A group of House Republicans have filed articles of impeachment against President Biden
Since the wing nuts want to impeach Biden they are admitting he is the real president.
XtopherSD almost 2 years ago
Why doesn’t the newspaper headlines include “Best employment picture in decades, Best wage growth in decades, Highest corporate profits in 70+ years”? Wouldn’t that have a chance of giving people a balanced, honest picture of the economy? But when has Kelley ever cared about all the facts.
jhayesd31 almost 2 years ago
Trump spend 8 Trillion dollars of borrowed money in this four years. That is 23,000 dollars per American. How long did you think that would take to play out in the American Economy? Hint, it is more than a few months after he gets kicked out of office.
Uncle Joe Premium Member almost 2 years ago
Employment is robust. Inflation was much worse in the 70s-early 80s. So far, inflation looks like it’s driven by pandemic & Russian disruption of supply chains. Demand is cooling off, so this (hopefully) isn’t going to be an extended thing.
Still haven’t heard what Republicans would do differently.
thelordthygod666 almost 2 years ago
A natural gas refinery in Texas exploded causing natural gas prices to spike…Blame Biden!