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> In exchange the US got cheap goods (and low inflation)... Inflation is ripping higher Part of the reason inflation is ripping higher (and this was beginning
by UncleOxidant 5y ago
> In exchange the US got cheap goods (and low inflation)... Inflation is ripping higher
Part of the reason inflation is ripping higher (and this was beginning to happen even pre-pandemic) was because the previous administration began tradewars which began to rip up global supply chains. Yes, the bulk of our inflation currently is due to the pandemic, but a good chunk of it was going to start happening anyway even if the pandemic never happened because we began to disrupt global wage arbitrage. Bringing jobs back to America was always going to lead to a period of inflation.