inflation and gas prices started to rise way before Putin's war....For gas prices, part of the increase could be due to lows from Covid and part of it could be the president saying he wants to end fossil fuel and doing everything he can do to achieve that. Cancel the XL pipeline, not drilling in Alaska, and slow-walking other leases. And the fact that we went from energy-independent just a few years ago to begging OPEC to pump more gas can't be good.You didn't keep it apolitical. I like to think of myself is independent, but I don't like people placing blame where it doesn't belong.
I'd like to hear your theory on how the last Presidential election affected the economy? Because this is a global inflation and the US has the lowest inflation rates in the world. Gas prices are rising partially due to OPEC and partially due to the summer heat shutting down refineries; this trend started at the end of the last administration and has been exaserbated by the Russian invasion of Ukraine. Food prices are globally high due the Putin's war, Ukraine is one of the largest suppliers of oilseeds and grains producers; also factors such as supply chain issues, labor shortages, etc. Lowest uenemployment in 54 years, this trend began in the last administration.
My point being administration policies move so slow that we're probably feeling the repercussions of 2 or 3 presidents ago.
regarding inflation in general, Trump and Biden blowing wads of cash into the economy due to COVID didn't help inflation one bit.