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Inflation was totally self-inflicted. Both the Trump 2020 and Biden admins went crazy over stimulus when the worst of Covid had already been behind us. Pumping

• TulliusCicero 2y ago
  Some of it was stimulus, but some of it was logistical interruptions caused by covid. You can't just wave away how hard China shut down. Automakers struggling to source chips was not caused by too much stimulus.
• danaris 2y ago
  This has been repeatedly debunked. Yes, there was a small amount of money pumped into the consumer economy ($2000/household). Yes, there were some supply shocks during the height of the lockdowns. No, those do not explain the persistent high prices. Unprecedented consolidation across all sectors made it easy for a much smaller group of people at the top to respond to a zeitgeist that expected inflation by keeping prices high after the supply shocks were over, and pocketing the difference. It didn't even require active collusion (though it wouldn't surprise me if there was at least a little).
  • echelon 2y ago
    > Yes, there was a small amount of money pumped into the consumer economy ($2000/household). Covid caused us to print $13 - $16 trillion dollars. That's more money than every war the US has ever participated in combined.
    • immibis 2y ago
      Yep. Mostly straight to business owners. But that wasn't sold as "stimulus", it was sold as "a loan" which was then forgiven without repayment. When people talk about "stimulus" they usually mean the cheques to individuals.