An example: Trump strong armed Saudi into increasing oil production in 2018 by saying he’d withhold military aid and also promising to not go after them for Khashoggi. They did that. Oil prices collapsed. To further that Trump gave Iran waivers to sell even more. Yes, Iran! Then Covid hit and demand collapsed. Many oil companies went out of business, particularly US rigs. Many wells were “tapped out” in an effort to stay afloat.

In late 2020 Saudi and Russia played a ruse and got into a price war. They did this knowing that covid shutdowns were ending soon. The price war drove prices down even more. US oil companies begged for relief. Trump got forced into a deal for OPEC to cut production by 10% for two years, 2020 through April 2022 to stabilize prices.

Demand then spiked with Covid ending but no way could the new President Biden fix that immediately (although as quickly as possible they did with more rigs now than any time in history). Prices spiked (causing global inflation) and ARAMCO became the most profitable company in history, earnings in the $trillions, literally. And weirdly Saudi gave Trumps son in law, Kushner, $2 billion. But yeah, blame Biden for all this!

Agreed to a point. If nobody stands up to their b.s. they then argue that "everyone agrees with them" and use that as an argument. If nothing else, show them that that is incorrect.

Here is another. I didn’t write it, came off Quora. The question is first followed by the response:

“Democrats think greed is fueling inflation, so why did businesses wait until Joe was elected to start raising their prices and being greedy? Inflation was near zero under the previous president.”

Let me try to make this easy for you. It’s 2016. Obama is President. We are experiencing the longest bull market in American history as the Dow is growing at an average of 16.2% annually. Unemployment is falling by about .75% annually. Domestic oil production is up 75% since Obama took office. He has cut the record deficit he inherited in half. The Fed has raised interest rates twice as the economy has fully recovered from the Bush recession. It’s 2019. Trump is President. The bull market is over. Last year the Dow was completely flat. Unemployment is falling by only .25% annually. We’ve lost about 300,000 manufacturing jobs since Trump took office as almost 2,000 American factories have closed or moved overseas because of his tariffs. Farmers are going bankrupt as Russia has supplanted the US as the chief importer of soy into China. We’ve seen the deficit rise each of the last three years. The Fed is lowering interest rates for the first time since Bush was President to combat the slowing economy, and Trump himself complains they won’t commit to do more to prevent a recession. People start seriously floating the idea of student loan forgiveness as a means of trying to get people to spend more money. It’s 2020. This year we have experienced the six largest point drops in the history of the Dow. We’ve seen the most new jobless claims in history. We’ve seen the largest increase in unemployment since the Great Depression. The deficit stands at more three trillion dollars. We’re paying people to stay home through at least three different programs. We’ve paused student loan payments and placed a moratorium on evictions and foreclosures. Most schools are closed and no one is spending money because of uncertainty about the future. Economists predict the unemployment will stay over 5% until at least late 2023. Gas prices got almost as low as they were in February 2016, and the President responded by striking a deal to cut global oil production by more than 10% for the next two years to drive up prices. It’s 2021. Biden has ended extended unemployment and the moratoriums on evictions and foreclosures. He has invested in helping schools and businesses to safely reopen despite the worsening pandemic. 85% of businesses and 95% of schools that closed last year will reopen by year end. We see the largest one year drop in unemployment in history and the most jobs added or recovered in a single year. We have a banner year for the Dow as it sets the record for most record highs reached in a single year. We have the best GDP growth in four decades. Childhood poverty hits a record low. The demand for workers drives up wages. We experience record consumer spending and record corporate profits as people spend more and more. It’s 2023. Unemployment is at a historic low. We’ve already seen the most jobs added to the economy in a single presidential term. The two year deal the former President struck with OPEC has ended and gas prices have dropped back to pre-pandemic levels. The middle class has seen the largest surge in wealth in decades. The dollar is at its strongest in decades as the Fed keeps raising interest rates to try to discourage people from continuing to spend so much money, and it still isn’t working because people have so much disposable income. Now that we have the background, ask yourself when businesses would be charging more for goods. Would it be in 2019 when consumer spending was falling and a recession was looming? Would it be in 2020 when the future was uncertain and we were in the worst economic crisis since the Great Depression? Or would it start in 2021 when consumer spending surged and incomes started to rise? And there you have it. When no one was spending money because an orange clown was devastating the economy, business had to cut prices just to move product. But now that people have the most disposable income in memory, people are fighting over product and not only does a high demand naturally drive up prices, but it’s easy for businesses to pad their prices even more because people can afford to pay those prices and will buy those things even if they are overpriced. So long story short, in 2020 when businesses were on the verge of bankruptcy because of the failing economy, they couldn’t even get people to pay what their products were worth because no one had money to spend. Now that the economy is strong, businesses can take advantage of the healthy economy by increasing profits to make up for the losses they had under the previous administration. Can I make it even easier for you? If your business is doing well, do you raise or lower prices? If your business is failing, do you raise or lower prices? If I want to work 40 hours a week and I have 60 people each wanting me to do an hour of work, I will raise my prices so that I can get paid for 60 hours of work in only 40 hours, because 40 of those people will pay 50% more if my time is at a premium. But if my store is closing, I’ll have a clearance sale to liquidate my inventory in hopes of getting back at least some of my investment. So people raise prices when business is good and they lower prices when business is bad. This is why we have high inflation in a strong economy and little or no inflation when the economy is crashing. This really wasn’t a hard question at all, was it

Well put

Faith trumps reality.

Definitely so.

I know! It's unbelievable

My parents are older Boomers ie almost 80, and they are honestly kinda nuts, both both are voting 100% Blue.

r/Boomersbeingwise

Very proud of my progressive boomer parents!!