Under President Biden's watch, electricity has increased by 22%, and utility/piped gas services have increased by 47%. Twenty million households are behind on utility bills. Winter is coming.
What you call Bidenflation is global inflation. Energy prices are largely set by global markets. Here in Europe, where I’m visiting, a 22% rise in electricity prices would be viewed as a bargain. Energy costs in much of the world are rising much faster than in the US. We are doing comparatively well in a global emergency.
That is overly simplistic and not entirely accurate. The US led the world in inflation, and many have caught up; some have always been higher. Many, including France, have a lower inflation rate than we do, including France, Norway, Indonesia and others. Their energy environments are radically different from ours, from France's 44% reliance on nuclear energy to Germany's now-well-known reliance on Russian natural gas. We have greater ability to produce energy than do they. Much of our inflation problem is of our own making.
I cannot more strongly disagree with you. The US is the reserve currency for the world. We are contributing mightily to the world's inflation problem thanks to Biden policies and Democratic malfeasance. The evidence is overpowering. I reject your criticism.
With respect I disagree. Biden Administration spending contributed to the problem, yes. But there are many other factors, I believe. Happy to discuss further. Wishing you well.
What you call Bidenflation is global inflation. Energy prices are largely set by global markets. Here in Europe, where I’m visiting, a 22% rise in electricity prices would be viewed as a bargain. Energy costs in much of the world are rising much faster than in the US. We are doing comparatively well in a global emergency.
That is overly simplistic and not entirely accurate. The US led the world in inflation, and many have caught up; some have always been higher. Many, including France, have a lower inflation rate than we do, including France, Norway, Indonesia and others. Their energy environments are radically different from ours, from France's 44% reliance on nuclear energy to Germany's now-well-known reliance on Russian natural gas. We have greater ability to produce energy than do they. Much of our inflation problem is of our own making.
Latest EU Inflation rate is 10.10%
Latest US inflation rate is 8.26%
As you say, the causes of inflation are complex.
To blame Biden for most or all our problems is wrong and “overly simplistic”.
I cannot more strongly disagree with you. The US is the reserve currency for the world. We are contributing mightily to the world's inflation problem thanks to Biden policies and Democratic malfeasance. The evidence is overpowering. I reject your criticism.
With respect I disagree. Biden Administration spending contributed to the problem, yes. But there are many other factors, I believe. Happy to discuss further. Wishing you well.