This might be the first time I've read an entire thread when not one single person appears to know what they're talking about.B
Biden is a fucking idiot...but this, quite objectively, has nothing to do with him.
The fed printing money (QE) during COVID is what caused the inflation... most of which happened under the Trump administration...but it's not Trump's fault either because, again, the Fed is partisan neutral and act completely independent of the presidency. It's one of the power checks the US government employs.
The banks went down primarily due to... 1- the Fed embracing Quantitative Easing too much and for too long during the pandemic that they're having to reverse just as hard now to get inflation back down... and 2 - those two banks making foolish investment decisions. They failed to hedge their bets in a very obvious way, so their own shit management is just as much to blame. It had more to do with them investing deposit capital into treasury bonds as a very stupid time. Americans love blaming anything and everything on whatever party they're not a part of. Even things that have nothing to do with either party.
In any case, a couple poorly run banks going down is infinitely preferable to hyperinflation.
