Actually, a lot of people saw it coming. Michael Burry was tweeting non-stop about it for a while. Jack Dorsey w/ his "hyperinflation" tweet as well. Even CNBC

Actually, a lot of people saw it coming. Michael Burry was tweeting non-stop about it for a while. Jack Dorsey w/ his "hyperinflation" tweet as well. Even CNBC had regular guests who talked about it coming. Mohamed A. El-Erian being the most prominent. I also believe that the housing market bonanza last summer was an indication that the average American instinctively knew that things are going to get more expensive. As far as the academic economists, well I think the quote "It is difficult to get a man to understand something when his salary depends on his not understanding it" applies here.