Unexpectedly?
I was thinking exactly the same thing… maybe with the exception of the 30% that actually believed his bullshit enough to vote for him… I’ve been bracing for the huge inflation bolster since he was elected…
Hell trump and musk have kind of warned us, inflation is going to get worse (and lied about it being so it can get better… ignoring the general fact that inflation is a one way street, you can’t fix it… you can only slow it down, and/or speed up wages to catch up to it)
Definitely a solid onion headline worded like that.
They forgot the /s
I know I’ve seen this on several websites today. What was everyone expecting? The only think I can think of is the old trope that Republican administrations are better for the economy. I have coworkers who were basically expecting miracles once Trump got into office. Things are probably gonna be bad.
Inflation has generally dropped significantly in most developed countries and is mostly tied to post-pandemic effects and the war in Ukraine. So if you ignore the debilitating influence of Trump, you would expect inflation to continue to drop in the US too.
The 3% rate isn’t actually all that high currently, but you’d expect it to trend up again due to tariffs, both from the actual effects and as an excuse for companies to raise prices.
Or Trump could cause a serious recession/depression, in which case inflation will drop (but you won’t be able to buy anything anyway, since you’ll have lost your job).
You are correct. And if Biden or Harris had been elected and we could he reasonably assured we’d continue on a stable path we’d probably be in a different situation. But Trump and team are a different story.
Correct me if I’m wrong, but don’t most (if not all) Republican administrations cause recessions or other damage to economies?
Every Republican presidential term in my lifetime has had a recession start. None of the Democratic ones have…
Regan; one started each term. First Bush had one in his term. Clinton had none in his 2 terms. Second Bush had a HUGE one each time (dot com and great recession). Obama had none in his 2 terms. trump had one in his first term (triggered by covid & shutdowns; which his (in)actions intensified…). Biden didn’t have one (but; just barely… and only by the official definition [NBER]; he did have two negative real GDP quarters, so one could argue this point). Now we’re starting trump’s second term, so we’ll see (it’s pretty clear we’ll have a recession within 2 years).
This isn’t really debatable unless you ignore the evidence. Stock market and real GDP growth are overall way higher under Democrat presidents. One link for reference (but many more are available): https://link.springer.com/article/10.1007/s11127-021-00912-y
Thanks for the link.
The 2008 Crash was the direct result of Clinton’s repealing of the Glass-Steagal Act (with the full support from the Republicans, so I’m not actually excusing them).
In the process of pointing out just how bad the Republicans are for the Economy, let’s not excuse the Democrats so much that it turns into whitewashing.
Same with budget deficits, Clinton even got surpluses…
Clinton repealed the Glass-Steagal Act, inflating a massive bubble (especially in Finance) which blew up in 2008.
If you’re going to laud him for the positive effects of the bubble he inflated, then it’s only fair to criticize him for the ultimate result of his bubble-pumping policies, which wiped out all the gains from the bubble.
He also had an affair
Did he have an affair? I hadn’t heard about that… probably wasn’t a big deal and people likely didn’t blow it out of proportion.
obviously /s
That’s up to him, his wife and his mistress.
I only care about his track record when it applies to the Economy.
Historically the US economy generally performs better under Democratic administrations than Republican ones. I’ve read several articles and studies that show this. I’m on mobile and don’t have the time to find them However polls show that Americans consistently have the opinion that Republican admins are better on economics. And this despite no matter how much evidence os presented.
However polls show that Americans consistently have the opinion that Republican admins are better on economics.
Newsflash: Americans are fucking dumb. Mind numblying fucking dumb. Their stupidity triggered an overflow in the universe to where they’ve looped around and think everyone else is dumber than them.
I honestly believe America is the most ignorant as well as unhealthiest (obese/fat) nation in existence.
You are not wrong, I don’t know where the other poster got their information, but Republicans almost always destroy the economy and the Democrats (kind of) fix it just in time to be blamed for the economy being bad.
The “trope” is public perception, not actual historical pattern. Every time a Republican president gets elected the exit polls are full of “economic concerns.” What that actually means is left to interpretation but so it goes.
What that actually means is left to interpretation but so it goes.
It means they think minorities had too much money.
What was everyone expecting?
The ones who voted for Trump? To get their pony. And they’ll keep shutting their eyes and plugging their ears waiting for their pony until they starve to death because everyone else has already emptied the dumpster of food.
Somehow, inflation returned
Denial first, surprises later.
British humour.
So, tarrifs have impact after all?
I buy steel products and the domestic prices are already increasing. Defeats the point of buying here vs importing. 🤷♀️
Yeah that’s because the U.S. doesn’t have the production capacity to support its steel demands. We import something like 20% of the steel we use, and it’s mostly from our neighbors, which these fucking dumbasses are pissing off for zero benefit.
His rationale is to slowly bring that production back to the US. Can the US even make enough steel to meet its demand domestically?
The theory is that it’ll hurt for 5 to 10 years but be economically beneficial in the long run.
He doesn’t have rationale.
He could just pass laws to require more steel production, even subsidise it, which would work faster and not be painful, but that kind of planning and forward thinking are beyond a conservative.
Biden took a protectionist action by blocking a Japanese company’s purchase of a major US Steel company. Trump took further protectionist action by tariffing foreign steel.
Now both of those may have backfired because the market manipulation prevented outside investors from modernizing US steel production facilities, and protective tariffs by definition raise prices.
In effect it is less competition and crappier product for US consumers.
“unexpectedly”. yep nobody anywhere ever saw it coming. idjits
I wouldnt be surprised if foreign investors in US Bonds were dropping that shit like it was radioactive.
Before reacting, read the article
Inflation rose to 3% in January, its highest rate for six months, and above the 2.9% expected by economists.
This is significant for bankers, but not for regular people. You’re not going to notice that inflation is 0.1% higher than expected
0.1% for someone with a $500,000 mortgage would be $500.
0.1% for a large company, like say, Blackrock, that has $15 billion dollars in debt, is 15 million dollars.
Edit: however, Blackrock also *profited to the tune of 4.7 billion dollars, so the 0.1% increase is a 0.3% cut into their profit from last year. They can absolutely afford it.
Driven primarily by….
The cost of eggs. Yes regular people are going to notice this.
Food at home up 1.9%
You didn’t even check what it’s driven by, but you confidently state it
I’m just basing my opinion on the text of the article. The article you told people to read:
US inflation increased by more than expected last month, as higher egg and energy prices helped to push up the cost of living for Americans.
Grocery prices climbed 0.5% over the month, compared with 0.3% in December, as egg prices surged more than 15% … That marked the biggest monthly increase in nearly a decade, the Labor Department said.
Then you reply with a statistic that doesn’t appear in the article with no reference. Fucking MAGATs.
https://www.bls.gov/news.release/cpi.nr0.htm
I check the official sources
I’d be interested in seeing where the inflation was higher than expectations. He’s only been in office a few weeks; most of these markets don’t react that quickly.
Edit: Ahh, Lemmy. Where people get down voted for wanting more information.
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Its also not like Trump wasn’t affecting the markets until the day he was inaugurated. He was literally illegally meeting with foreign leaders during the campaign.
What’s illegal about it?
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Well, the meeting…
So the meeting is illegal because it’s a meeting. Gotcha
You asked what’s illegal, not why it’s illegal.
It’s called the Logan Act. There are actually laws about how civilians can interact with foreign officials. Dennis Rodman famously violated those laws when he went to North Korea to act in an official capacity that wasn’t officially sanctioned. Trump is a civilian until inauguration, so his meetings with heads of state to discuss official matters (not just shooting the shit about movies and new restaurants) would have had to be sanctioned to be legal.
an official capacity that wasn’t officially sanctioned.
Can you explain what that means? Because he either was or wasn’t.
Just like it says: Rodman went in an official capacity but wasn’t given the authority. He did it on his own. It wasn’t officially sanctioned so he either lied or was just oblivious.
And manipulating the budget.
Not when you start tariffs wars with allies that you signed trade agreement with.
That’s unfortunate, BBC misspelled “predictably.”
it misspelled “more than expected”
don’t only read headlines
Don’t tell me what to do
Is this the same people who couldn’t think Brexit was bad for their economy?
That article is carrying a lot of water for the Trump administration. Nobody knows why prices are going up!
Import tariffs are explicitly inflationary. Even the rhumor of them is arguably inflationary. Lowering the interest rate (which Trump is currently in the midst of bullying the Fed chair into doing ) is also explicitly inflationary.
All of the things he has done that actually pertain to inflation have been to increase it.
Yeah, which is why this is a bad article from the BBC. The headline should be, Trump Causes Inflation.
That article is carrying a lot of water for the Trump administration
Just admit you only read the Headline.
No, I read the article.
Trump’s fine with that as far as his gold reserves are going to skyrocket in value. That’s maybe one of the reasons why he wants these tariffs so bad in the first place.
(Get precious metals asap, btw.)
Unexpectedly? LMAO
When will we start seeing stickers at gas pumps and at grocery’s saying “Trump did this”.
How about flags saying “Let’s Go Eric” as an answer to all the let’s go Brandon flags
Mine were delivered about 2 weeks ago, so that I’d have them ready. I got them from a store on Etsy.
Let’s go Felon!
This US INFLATION ‘increase’ is about the smallest possible;
the headline is at best misleading and sensationalism at worst.
’ UNEXPECTEDLY INCREASES’ should say ‘inched from 2.9% to 3%, which happens routinely at the beginning of every year’.
0.1% is the smallest unit it can go up by.
This is literally a nothing burger
I agree that it’s probably a sensational article. No matter what the numbers actually are - it’s too early to draw a line to Trumps policy decisions.
It’s cherry picking, but I’ll point out the 15% increase in the cost of eggs due to Avian flu. I mean, if we blamed Biden for inflation over the last several years then we can place this at Trump’s door step surely?
In any case, I look forward to seeing the MAGA-splaining in the coming months.
Is it too early? Considering that a substantial portion of our imported goods originate from a country subject to a 10% tariff, wouldn’t this policy inevitably lead to significant price increases for those products?
Oh God, no! It’s the Spanish inflation!
ahem, Spanish Influation
Our two main weapons are tariffs and corruption!
Unexpectedly by who!?
The people who voted for the authoritarian liar. They are equally shocked at the leopard knawing on their face.
You’re likely vastly overestimating their understanding of inflation. For many of them it came down to “China pays for it!” and they have no further knowledge or insight beyond that.
Yes, China pays for it, just like Mexico paid for the wall 🙄.
Who could have expected this
who ever wrote this article is a total moron. Unexpectedly? noo.
14 years of Conservative government has left the BBC senior ranks full of Tory placeholders and shills.
