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The central cause was the pandemic itself — and the nearly unprecedented supply-side shock it caused, which extended beyond the crisis itself. That's like blaming us for being human. It is what it is. What happened, happened.
Orszag goes on to assert that it was the supply-chain shock which is the real culprit. ...supply-chain variables directly accounted for 79 percent of the rise in underlying inflation in 2021...
I won't say he's wrong. But this thing does read as if he had a presupposition, and is bent on proving it to be correct. so the over-stimulus provided by the Biden Admin. was a minor part of the picture. Would he say, "negligible?" Sounds like he would not disagree.
Given the fact of the pandemic, the supply-side shock, with longer delivery times, etc. was inevitable. Demand did not go away, of course, because people are people. They want or need shit. Consuming is never going to be reduced in a functioning---though pandemic-hobbled economy.
With regard to the election result and the emphasis on prices and the economy being so much higher during the Biden years: I'd say it's because, as Noam Chomsky has said: "The general population doesn't know what's going on, and they don't even know that they don't know what's going on." And so, they are susceptible to any argument which gives them a chance to inflict what they think is a comeuppance to that OTHER (Blue) Party. That's all. No thought. No critical thinking. Just grievance, and wanting to turn back the clock. So, they elect a despicable Orange criminal who will never be brought to justice. Just the opposite. He is elevated to a position which insulates him from any of that. If he were to die in office, Vance will simply continue to be the two-faced lying opportunist that he is, right now. No compass. No backbone.
Not to mention that prices rose everywhere in the world, not just in the USA. A small detail, but it didn't seem like anybody mentioned it during the election campaign.
Not to mention that prices rose everywhere in the world, not just in the USA. A small detail, but it didn't seem like anybody mentioned it during the election campaign.
Dems never even tried to defend what has actually been a good record, considering the scorched-Earth opposition.
Not to mention that prices rose everywhere in the world, not just in the USA. A small detail, but it didn't seem like anybody mentioned it during the election campaign.
Dems never even tried to defend what has actually been a good record, considering the scorched-Earth opposition.
oh, no, they did, just so unsuccessfully
and much worse, they were preemptively countered over and over
fighting lying and fraud is going to really take some figuring out going forward, if it can even be done
I mean, ffs, forget plain-vanilla lying about inflation and neonate murder and migrant building takeover:
"But this thing does read as if he had a presupposition, and is bent on proving it to be correct." Exactly. I subscribed to Axios newsletters for quite a while. It was convenient for getting breaking news. I did not doubt the facts they included, but it was the facts they ignored that was annoying - They were obviously starting with a conclusion, and proceeding from there. It seemed to calm down a bit over time, but I finally gave up and went back to paying for WSJ and The Economist. Not that I am saying that those folks don't have presuppositions.
A link from Tangled: Musa Al-Gharbi: "...Put simply, it was young and non-white women – the very people who were supposed to ensure Kamala’s victory – who instead helped usher Trump back into the White House...Kamala’s performance with men was solid. It was her performance with women that destroyed her prospects....She was not undone by racism or sexism. Elites didn’t buy the election. Third parties didn’t “spoil” the race. Higher turnout wouldn’t have helped her. Going with a different running mate would have likely made things worse....If you look at voters’ expressed opinions, it seems like there were three core factors: inflation, immigration, and alienation from cultural liberalism..." https://musaalgharbi.substack.com/p/a-graveyard-of-bad-election-narratives?ref=readtangle.com
Dems never even tried to defend what has actually been a good record, considering the scorched-Earth opposition.
@David: oh, no, they did, just so unsuccessfully and much worse, they were preemptively countered over and over
Yes, lies and propaganda played a huge role. But I listened to lots of KH and TW, and never heard a word defending the administration (and Congress) from the inflation propaganda.
Spot on @crash. Also as I stated several months ago, it was the soccer moms who remembered asking if they should buy a firearm during the BLM riots...and being increasingly concerned if their sons and daughters were going to be drafted to fight in the trenched in Ukraine..as well as you alluded to the bat shit crazy price increases and bullshit rhetoric and lies from the MSM....they weren't buying what Krugman and other panty waisted so called journalists at the times and posts were putting in their propaganda rags... good riddance...the Dems would have been better running Shapiro, heck, I would have voted for him....
Comments
Excellent analysis
That's like blaming us for being human. It is what it is. What happened, happened.
Orszag goes on to assert that it was the supply-chain shock which is the real culprit.
...supply-chain variables directly accounted for 79 percent of the rise in underlying inflation in 2021...
I won't say he's wrong. But this thing does read as if he had a presupposition, and is bent on proving it to be correct. so the over-stimulus provided by the Biden Admin. was a minor part of the picture. Would he say, "negligible?" Sounds like he would not disagree.
Given the fact of the pandemic, the supply-side shock, with longer delivery times, etc. was inevitable. Demand did not go away, of course, because people are people. They want or need shit. Consuming is never going to be reduced in a functioning---though pandemic-hobbled economy.
With regard to the election result and the emphasis on prices and the economy being so much higher during the Biden years: I'd say it's because, as Noam Chomsky has said: "The general population doesn't know what's going on, and they don't even know that they don't know what's going on." And so, they are susceptible to any argument which gives them a chance to inflict what they think is a comeuppance to that OTHER (Blue) Party. That's all. No thought. No critical thinking. Just grievance, and wanting to turn back the clock. So, they elect a despicable Orange criminal who will never be brought to justice. Just the opposite. He is elevated to a position which insulates him from any of that. If he were to die in office, Vance will simply continue to be the two-faced lying opportunist that he is, right now. No compass. No backbone.
and much worse, they were preemptively countered over and over
fighting lying and fraud is going to really take some figuring out going forward, if it can even be done
I mean, ffs, forget plain-vanilla lying about inflation and neonate murder and migrant building takeover:
https://www.washingtonpost.com/politics/2024/11/15/republican-ads-false-flag/
Exactly. I subscribed to Axios newsletters for quite a while. It was convenient for getting breaking news. I did not doubt the facts they included, but it was the facts they ignored that was annoying - They were obviously starting with a conclusion, and proceeding from there. It seemed to calm down a bit over time, but I finally gave up and went back to paying for WSJ and The Economist. Not that I am saying that those folks don't have presuppositions.
https://www.readtangle.com/final-2024-election-post-mortem/
So far pretty impressive. Had great discussion of recess appointments
Musa Al-Gharbi:
"...Put simply, it was young and non-white women – the very people who were supposed to ensure Kamala’s victory – who instead helped usher Trump back into the White House...Kamala’s performance with men was solid. It was her performance with women that destroyed her prospects....She was not undone by racism or sexism. Elites didn’t buy the election. Third parties didn’t “spoil” the race. Higher turnout wouldn’t have helped her. Going with a different running mate would have likely made things worse....If you look at voters’ expressed opinions, it seems like there were three core factors: inflation, immigration, and alienation from cultural liberalism..."
https://musaalgharbi.substack.com/p/a-graveyard-of-bad-election-narratives?ref=readtangle.com
Yes, lies and propaganda played a huge role. But I listened to lots of KH and TW, and never heard a word defending the administration (and Congress) from the inflation propaganda.
"The best argument against democracy is a 5-minute conversation with the average voter." ---W. Churchill.
Dem? Rep? No love lost from me, in either case. "All are punished." (Prince Escalus, Romeo & Juliet.)