>The question is, will voters who backed him because they believed his promises on prices turn on him when he fails to deliver, and actually drives prices up with tariffs?
>I wish I had any confidence that they will. People dislike inflation, but they really, really hate admitting that they were fooled.
>In fact, I hope someone doing surveys after Trump takes office will ask Trump voters two questions: Did he promise to lower prices? Did he succeed?
>My prediction is that substantial numbers of voters will either deny that Trump said he would reduce prices or insist that prices are down even if they aren’t.
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>The question is, will voters who backed him because they believed his promises on prices turn on him when he fails to deliver, and actually drives prices up with tariffs?
>I wish I had any confidence that they will. People dislike inflation, but they really, really hate admitting that they were fooled.
>In fact, I hope someone doing surveys after Trump takes office will ask Trump voters two questions: Did he promise to lower prices? Did he succeed?
>My prediction is that substantial numbers of voters will either deny that Trump said he would reduce prices or insist that prices are down even if they aren’t.
https://paulkrugman.substack.com/p/will-trump-be-called-on-his-inflation?utm_source=multiple-personal-recommendations-email&utm_medium=email&triedRedirect=true
[https://fred.stlouisfed.org/graph/fredgraph.png?g=1Chkz](https://fred.stlouisfed.org/graph/fredgraph.png?g=1Chkz)
this a more accurate reason for Biden losing.
https://preview.redd.it/0uy3c7q4hg7e1.png?width=1140&format=png&auto=webp&s=857e69afcd9678ec2a6d2e2cc1e5387a8bd1927b
Voters have ensured that the government will not open the purse strings to help tax payers when there is an economic downturn.
Inflation = incumbents lose, even during historically low unemployment
The next recession is going to hurt a lot. Expect unemployment we’ve not seen in decades
https://en.m.wikipedia.org/wiki/Loss_aversion