"The mammoth climate law that serves as the linchpin of President Joe Biden’s economics program has ignited a new zeal among leaders around the world for the kind of winner-picking, subsidy-flush governing that has been out of fashion in many countries for the past 40 years.”
“The Inflation Reduction Act’s mix of lavish support for clean energy technologies and efforts to box out foreign competitors is also promoting a kind of green patriotism — and even some politicians on the right, at least outside the U.S., say that’s a climate message they can sell.”
Man, America really thinks the world revolves around them.
I can only speak for Australia but not having the right-wing Libs in charge is the reason for what we’re doing now, Biden does not factor into this at all.
Bidenomics hasn’t made it down to rural areas yet where transportation costs are much higher. Urban areas are really doing well though, inflation is largely gone now. Wages are higher across the board, though college graduates are seeing a higher rate of return compared to low skilled workers in subpar industries.
Bottomline, Blue America is doing good, Red America is struggling.
I think it’s fair to regard the current systemic problems as unsolved and worsening while also acknowledging that ‘Bidenomics’, insofar as they’ve been able to be implemented at all, are a positive, even if not the one we need.
Bit of an allegory for Biden himself and our current political situation, one supposes.
Yeah we were predicting 08 level or worse economic collapse for several years and now we’re in a situation where recession seems unlikely, union power is growing, inflation is significantly less bad than earlier in the year, and generally speaking it’s a hell of a lot better than expected. Biden isn’t going to go full Mao on the landlords, but for a 21st century democrat, he’s done better than expected.
Urban areas are really doing well though, inflation is largely gone now.
Source?
Yes, please. We trust but we verify
Also Red America often struggles because they elect Red representatives who represent Russia and everyone but Americans who are entitled to their good-faith representation
Inflation is gone now? Are you high?
Inflation is down to 3%, which is just short of the 2% most countries try to keep. That’s considerably less than the 7% and 6% it was previously. Inflation going away doesn’t mean prices reverse - that would be deflation, which most countries try not to allow. It just means price rises going forward will be, price gouging exempted, what we’re used to seeing.
…what’s the difference between inflation and naturally high interest rates?
Free Markets™ only if it benefits the US.
It’s US money spent in the US. You have a problem with that?
That’s how the EU operates. And frankly, if “the US” means “Americans” and not “the government and the rich” that’s good policy if you ask me.
We wouldn’t see so much tech regulation in the EU if the EU had anywhere near the amount of tech giants as the USA.
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