I've never heard any reasonable explanation from the MAGA cult of how exactly this inflation was Biden's fault.
#4 | POSTED BY WHATSLEFT
I don't believe it is, ALL his fault. Yet he has contributed to it, and hasn't begun to address root causes.
My guess would be a combination of a society flush with COVID money, combined with the effects of the Ukraine conflict.
Yes, but I don't believe Ukraine had much affect on inflation. Certainly less than the supply chain issues of JIT manufacturing.
The hyper inflation we experienced was decades in the making.
idk about decades, but certainly since the housing collapse. The Fed has been sucking up assets, which is "creating" money.
coinchapter.com
I think this is interesting. It would have been even more interesting to see a theory as to why this happened.
If you look at the linked chart above, the Fed had been selling assets (reducing money supply), but its still quite high, but perhaps back to a new normal 3-4%.
All of this gets destroyed when the debt servicing starts accelerating non-linear, which is almost has, its right on the cusp.
$1Trillion in debt spending every 100days.
www.msn.com
I am sure taxing the rich will solve the problem.