Unexpectedly?
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.
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
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Clinton repealed the Glass-Steagal Act, inflating a massive bubble (especially in Finance) which blew up in 2008.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
That’s up to him, his wife and his mistress.
I only care about his track record when it applies to the Economy.
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
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.
Thanks for the link.
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.
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.
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.
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.
Denial first, surprises later.
Somehow, inflation returned
Definitely a solid onion headline worded like that.
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)
They forgot the /s
British humour.
Unexpectedly? By who?
Pretty sure tons of people said that if Trump takes office, inflation would skyrocket thanks to the tarrifs and all his other bullshit… This was entirely expected. It’s the result we all knew was coming if he took office.
If it were any Democrat in office right now, the media would have been pinning the blame harder than fighting games got blamed for violence in the 90s. Getting real sick of the narrative they’re spinning.
If it were any Democrat in office right now, the media would have been pinning the blame harder
If a Democrat were in office inflation wouldn’t have increased.
And his idea to fix inflation? Cut interest rates.
Turkey did this and the value of their currency halved in value per year for two consecutive years. Imagine if in 2 years a dollar became worth only 50 cents and then a quarter. Everything would cost four times more and, if wages didn’t keep up, there would be a revolution (or at least I’d hope so).
Eggs at $32/dozen. One can only dream.
they Turkish lira lost way more value than that overall. it’s still losing value but at a much slower rate. its value is 1/9th of what it was in 2018 before the first big crisis. and 1/6th of what it was in the height of that crisis.
People that understand economics said that People who labor under the delusion that Republican administrations are better for the economy thought otherwise.
Republicans just took power.
Not unexpected at all.
We hired one of the worst people in the world to lead us. It’s a stretch to call this unexpected.
Hired is a stretch.
This is the top comment on my screen and it’s perfect.
Love this
What’s unexpected about it? We re-elected a twice impeached anti-democratic felon rapist who utterly failed his last term.
Every American who could rub brain cells together warned this would happen.
Unfortunately, those people represent a minority in The Divided States of Dumbfuckistan.
sounds like BBC is doing damage control for mango mussolini.
the “unexpected” part is that the 3% is above the expected 2.9% rate. they’re being coy; the title implies the increase is unexpected while the text shows it’s just a tenth of a point above the rate that was expected.
the editors are not uneducated people. I bet they speak English pretty well. the wording is deliberately misleading.
Dem clicks doe
Unfortunately, those people represent a minority in The Divided States of Dumbfuckistan.
Or, the people with 2 brain cells to rub together don’t call for ballot counting like cheerleaders of the dumbfucks do. Missing that 3rd brain cell…
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.
Unexpectedly?
Even the Spanish Inquisition was blindsided by this.
!leopardsatemyface@lemmy.world
Good job on voting to cancel out Joe Biden’s monopoly breakup because he didn’t do it fast enough
“If things aren’t good enough, we should make them worse to teach those layabouts a lesson!” - People who have no intention of suffering the consequences of their actions
I’m not going to vote for good, I demand perfection!
- a bunch of Americans with Pikachu faces right now
“Unexpectedly”
If it’s anything to me, it’s unexpectedly low.
Shocked pikachu face
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.
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 🙄.
