Trump calls for politicians to control interest rates and inflation

[Toddsterpatriot]

Trump blames strong dollar for U.S. economy ‘going to hell’

"Trump says the dollar is too strong"

"Trump want's a weaker US dollar"

"JD Vance want's a weaker US dollar"

Over the past 40 years 100% of Republicans signed Grover Norquist pledge to drown government in debt!

Zero Republicans signed a pledge to cut spending.

Nixon took the dollar off the gold standard so Republicans could borrow, print & spend more to drown our country in inflationary debt.

Democrats actually cut deficits & inflation.

Biden / Harris policy is WINNING.

USA Inflation rate 0% May, -0.1% June & interest rate is 5.25%. Russia Inflation rate is 9.1% July & interest rate is 18% & both are rising

Record US Oil production filling SPR for over a year. Trump always drained Obama's record setting SPR. Trump NEVER added any Oil.

Obama Oil Rig Count Oct 2014 = 1593
Trump Oil Rig Count. Aug 2020 = 178
Biden. Oil Rig Count . Dec 2022 = 623

Trump wanted even way more government spending during Covid. Trump wanted more Covid checks sent out before election to buy more votes.

Trump not only increased the debt by $8 trillion, he also printed another $7 trillion in new currency to hide additional spending from increasing the debt by $14 trillion. It takes 2 years for inflation to peak after all this money creation.

55% of Trump's economy was government spending.

Democrats actually cut deficits & inflation.

Liar.

Record US Oil production filling SPR for over a year.

The SPR held 638 million barrels when Trump left office.
In May 2024, it held 370 million barrels.
When is Biden going to get back to Trump levels?

Trump not only increased the debt by $8 trillion, he also printed another $7 trillion in new currency to hide additional spending from increasing the debt by $14 trillion.

Printing money doesn't "hide spending" or "prevent debt from increasing" you moron.

 

[KissMy]

Trump reduced Obama's record SPR from 727 million barrels down to 634 million barrels = -93 million barrels. Yet on the campaign trail Trump keeps claiming he filled the SPR to the top.

Over the past year Biden has added +30 million barrels to the SPR.

Trump said he could pay off the debt by printing money. Yet he printed $7 trillion and still increased the debt by $8 trillion. Trump caused the exploding inflation & is now claiming the US Dollar is too strong & wants to destroy another 30% of the dollars value.

 

[Toddsterpatriot]

Trump reduced Obama's record SPR from 727 million barrels down to 634 million barrels = -93 million barrels. Yet on the campaign trail Trump keeps claiming he filled the SPR to the top.

Over the past year Biden has added +30 million barrels to the SPR.

Trump said he could pay off the debt by printing money. Yet he printed $7 trillion and still increased the debt by $8 trillion. Trump caused the exploding inflation & is now claiming the US Dollar is too strong & wants to destroy another 30% of the dollars value.

Over the past year Biden has added +30 million barrels to the SPR.

He only has 250 million barrels to go.

Trump said he could pay off the debt by printing money. Yet he printed $7 trillion

The Fed balance sheet only increased by $3 trillion under Trump.

 

[sealybobo]

Trump’s policies are very inflationary. That’s what protectionism and nativism does.

If you want to maintain low-cost import pressures to force low wages you say "protectionism caused the depression." For other arguments, you can say it was unions that caused the depression, or perhaps government regulations, or perhaps taxes. You get the picture. Booga-booga, end of discussion.
By the same magical mystique, current trade and economic discussion rules prohibit ever, ever suggesting that the depression and hence the current economic problems (because of course they are exactly the same thing, just as Vietnam was exactly like World War II) happened because of: •extreme concentration of wealth at the top, •monopolistic and predatory corporate practices,•wages and compensation that are too low for regular people to participate in the economy, •insufficient taxation of the wealthy,•exporting manufacturing capacity,•overconsumption,•unsustainable practices,•encouraging people and businesses to borrow too much, •coziness between government and wealthy special interests,•insufficient regulation of corporations,•or any argument that might result in people thinking that regular people should participate fairly in the economy or have a degree of control over the government and corporate practices.

So with these rules in mind I would like to address a few of the myths about protectionism that have grown into a "conventional wisdom" that always serves the interests of the wealthiest few.

When conservatives rail in the media of the dangers of "returning to Smoot Hawley, which created the Great Depression," all they do is reveal their ignorance of economics and history. The Smoot-Hawley tariff legislation, which increased taxes on some imported goods by a third to two-thirds to protect American industries, was signed into law on June 17, 1930, well into the Great Depression. In the following two years, international trade dropped from 6 percent of GNP to roughly 2 percent of GNP (between 1930 and 1932), but most of that was the result of the depression going worldwide, not Smoot-Hawley. The main result of Smoot-Hawley was that American businesses now had strong financial incentives to do business with other American companies, rather than bring in products made with cheaper foreign labor: Americans started trading with other Americans.

Myth: Protectionists are "against trade," and the similar argument protectionism is about creating barriers or just keeping out foreign goods. This is a way to short-circuit the actual arguments that trade should be fair to both sides instead of just unregulated and exploitative. Fair traders want trade to be conducted in ways that are fair and respectful of working people on both sides of the transaction. They want people to be paid fairly and their working conditions to be safe and they want the environment to be protected. When trade is conducted this way everyone benefits in the long run.
Myth: Protectionism costs jobs. This scare-tactic is used by opponents of almost every policy that benefits working people. "Raising the minimum wage costs jobs." "Taxing corporations costs jobs." Etc. Fair trade policies would increase the number of jobs because the workers making the goods that we import would be paid enough to buy the things we make here.

Myths of Protectionism Are Spread to Exploit Workers and the Environment

<em>Why</em>, exactly, is protectionism so bad? Why can't we have <em>fair trade</em> that lifts workers and protects the environment instead of unregulated free trade that exploits workers and the environment?

www.huffpost.com