Yes indeed, I was looking at G20, though. Wasn’t sure how to determine “the best” recovery with all the metrics to consider. We’re objectively one of the strongest.
Comparisons with much poorer countries are less meaningful, though. I think that if some of the big headline metrics are close, it's fuzzy, but the U.S. is really blowing away the rest of the developed world.
Thing is, I was just asking Rob to clarify what I thought were confusing back to back posts, like he was implying the US either caused global inflation or shouldn’t have been affected by it. But I got no answers and an irrelevant comparison.
ETA: Or maybe he was trying to say we’d have been better off if we engineered a recession to deal with it?
I honestly don't think there's any way he and people like him would conclude that the U.S. is doing well if the president isn't a Democrat. And that's not symmetrical (because media consumption is not--most liberals consume mainstream news, while most rightists consume Fox or even more partisan outlets). I was here in 2017-2019 arguing with leftists who were talking about the economy being in the shitter (it was actually in the shitter for a bit in between).
On your last point, see below. I think engineering a recession would have reduced inflation a little but it would have still gotten very high, and then we'd also have a recession, which IMO is worse.
Lolwut? Rob asked you about inflation, and you specifically said "the entire world is dealing with it and the US has outperformed everyone", and now pretend just a couple minutes later you never said it?
This is the post you were responding to in its entirety: "Relief for the pandemic and spikes in spending surely contributed to the problem. We’re a major economy. But, are you saying it was the cause of global inflation?"
And your response was just another canned GOP talking point--while the U.S. economy is the strongest in the world, by far, we don't literally have the lowest inflation rate over the past year.
The 3 main causes for inflation were:
1) Supply chain disruptions due to Covid
2) The Fed's policies
3) Money printing
In that order. I'd agree the money printing didn't help/made it worse, but I'd argue 1 & 2 alone would have still caused inflation to spike and Republicans/Democrats don't have control over those.
Wrong on 2 and 3 (which would seem to be the same thing). Remember, mechanically inflation is basically the gap between the increase in spending and the increase in production of goods and services in a country (complicated a little by international trade). When you conceptualize it that way, you can see how the pandemic contributed--not just the supply-chain disruptions, but the overall supply shortage. People suddenly had less to spend on, while they didn't immediately lose their money. There was also a huge recession, which kept it in check, but then when the economy came roaring back, it took a while for production to respond to the price signals, and then in the big rush to increase production, there were supply-chain disruptions exacerbating the problem. And then on top of that, there was also the Russian invasion. In the U.S., underlying inflation peaked around 4.5% (which was unrelated to the supply-chain disruptions or the invasion), but then those other factors contributed to the much higher actual peak. Countries that didn't have the same explosive growth didn't have their underlying inflation peak as high, but many were more affected by the other issues.