To no one’s surprise, economic inflation appears to have started under the Trump administration after all.
Despite Trump’s frequent claims that the fault of ascending inflations rate lies with the Biden-Harris administration, American businessman Mark Cuban has taken to the internet to explain that this isn’t the case. In a recent interview, Cuban claims that inflation began under Trump, specifically due to his policies surrounding oil.
Remember the record low gas prices in the early days of the Covid-19 pandemic? Due to a nationwide lack of demand, the price of gas dropped to less than one dollar a gallon. Oil companies were getting destroyed as a result. As Cuban explains, oil companied plead with Trump to ask Vladimir Putin and Mohammed bin Salman, the respective rulers of oil giants Russia and Saudi Arabia, to reduce production. On that day, inflation rates began to soar.
But don’t take Cuban’s word for it, Trump said the quiet part out loud himself.
Twitter users are tickled with schadenfreude toward Trump in response. Watching an actual businessman destroy the credibility of fake one feels as satisfying as watching a beatdown of a cocky anime villain by an opponent.
When it comes to this fight, Republicans can do nothing but take it on the chin. After being pushed to $5.12 per gallon in 2022, gas prices have finally begun to fall. The reason? Trump-era inflation has finally begun to normalize. Patrick De Haan, head of petroleum analysis at GasBuddy, told CNN in a phone interview that gas prices under the Biden-Harris administration could drop below $3 per gallon. With gas prices continuing to plunge, so too will Republican hopes of using economic inflation as a talking point against Democrat opponents.
Published: Nov 1, 2024 02:18 am