> It also doesn't explain that this started long before COVID as well. False, the price run-up started in April 2020, after staying in a fairly narrow band of

> It also doesn't explain that this started long before COVID as well. False, the price run-up started in April 2020, after staying in a fairly narrow band of prices for 40 years. By August 2020 prices had hit an all time high, and then continued to rise to 2.5x that previous record. Compare these graphs, and explain why we should ignore the obvious possibility that this correlation might be meaningful. The money supply went from 4 trillion to 19 trillion (an increase of 4.75x) and the price of lumber went from $300 per 1000bf to $1500 per 1000bf, an increase of 5x over precisely the same period. Probably just a coincidence... https://tradingeconomics.com/commodity/lumber https://tradingeconomics.com/commodity/lumber https://fred.stlouisfed.org/series/M1SL https://fred.stlouisfed.org/series/M1SL > What high level of production? Wood production is at it's highest level since 2008. There was a slight dip during peak covid lockdown, but there was also an offsetting drop in demand during the same period so this can't be explained by the temporary drop in production.