You can't put extreme tariffs like 200% and expect prices to come down.
The reality is post-covid was an inflationary period because of hyper consumerism. Demand shot up, extremely quickly, and supply was still lagging due to covid. There was really nothing anyone could do. It's unfortunate, but voters don't consider these things. They just see the prices, see a blue president, and go from there.
Its worth noting that printing new money was the actual inflation, inflation is a measure of the increase in the money supply itself. Prices did go up, or you could say the dollar lost value, but price changes aren't actually inflation (prices are tracked by indexes).
It looks like US electricity costs are up around 10% since 2022. How do you peel that apart to know electricity prices changed first, and that that is what caused all other prices to go up?
Also why do you look at electricity? Its not just electricity, its everything. The war disrupted oil supply from Russia, which is something like 11% of global oil production. On top of it they disrupted supply chains globally.
Also, this is on top of the pandemic's economic hangover. This is pretty much up there from the first few searches on this topic, before you have to get into any detailed economic analysis.
I used to believe this, but the truth is we haven't been able to import food, energy or homes from China for a while. That leaves autos, and it's very hard to predict how auto tariffs would affect inflation, since people have always purchased more expensive cars over cheaper ones, for a variety of reasons. Meanwhile for stuff you and I care about like computers, well most of what you are paying for is software, which is all made here. Services like health care and education are insensitive to tariffs, and since grocery stores have to provide health care to some employees all the same, it affects prices for goods. Home prices rising is supported by both parties, and besides inflation the government basically guarantees market returns but risk free in owner-occupied real estate in this country.
I wish what you were saying were true - that bringing tariffs down to zero would eliminate inflation - but if it were that simple it would have been done already.
That was just an outgrowth of high monetary supply during COVID to shore up the numbers and prevent economic collapse due to a steep and sudden drop of economic activity. All that money couldn't be immediately mopped up as soon as the economies opened up, so it sloshed around for a while longer.
See Smoot Hawley - it passed in 1930, and deflation accelerated. Economy is a complicated system.
You've hit the nail on the head. They "like Trump." They find him charismatic and entertaining. Democrat politicians are boring and starched. Politics is show business. Why can't the Democrats learn that?
And that freshman would be more educated than 1/3 of the country.
I don't mean that as an insult to 1/3 of the country. Trump wins because he messages in a way that EVERY person can understand. A huge portion of the country will disagree with his approach, but that's vastly different than relying on people to understand concepts they've never had exposure to.
Harris did not.
Once again, Republicans Show Up and they win by default. Yes, his "plans" are nonsensical, but the opponents decided to forfeit the match!