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I doubt it. The article observes that Americans are buying a lot of stuff, but it's just redirected purchasing. We're buying more tech, and less clothes and car
by millstone 6y ago
I doubt it. The article observes that Americans are buying a lot of stuff, but it's just redirected purchasing. We're buying more tech, and less clothes and cars and travel. Overall the savings rate is still very high, so spending is down.
There's a risk of (temporary) inflation when the economy opens back up. There is major pent-up demand for travel, but nobody will build more airports, or buy more airplanes, because it's clearly temporary. So expect some crazy prices then.