It's bad on descriptive grounds. There is no "wage price" spiral going on. Labor is weak no it's not the 1970s. There is simply supply bottlenecks, or rather:

It's bad on descriptive grounds. There is no "wage price" spiral going on. Labor is weak no it's not the 1970s. There is simply supply bottlenecks, or rather: increased demand is auditing our practices and finding the weakpoints we already had. This is a good thing. (Unless you are a lazy capitalist that just wants to maximize your effort/investment to profit ratio.) We should continue to hold up demand until the bottle necks are fixed. (This is not a "beatings will continue until moral improves" situation.) We should be thankful increased demand as clarified what investments are needed. No surprise, it's unsexy things like 200m fabs not whatever trendy shit gets the money in the asset bubble we've had the last decade. If we do anything beyond prop up demand and enacting environmental regulation, it should be puncturing the stupid asset bubble like China is doing with real estate. Getting all that crypto money to seek returns elsewhere would be a good thing.