Throughout this entire “stimulus” fiasco, my faith in the ability of nominally smart people to independently reason about simple concepts like supply, demand, a

Throughout this entire “stimulus” fiasco, my faith in the ability of nominally smart people to independently reason about simple concepts like supply, demand, and inflation has been humbled. First there was a denial that inflation was occurring now there is an excessive panic that it signals the end of the economy. Can I get off this clown car? Periods of unusually high inflation happens. This happened in the 70s. It will happen again. The fundamentals of the American economy are changing but not in any dramatic way since at least the 90s. Everything is still made in China, we are still a service economy.