I saw a piece comparing this period to the 1946-1949 period just after WWII in terms of disrupted supply chains, a vast pool of money chasing very few consumer goods--all those wages during WWII with nothing to buy, so people were sitting on big fat savings accounts, and then wanted houses, cars, furniture, etc. after years of deferring …
I saw a piece comparing this period to the 1946-1949 period just after WWII in terms of disrupted supply chains, a vast pool of money chasing very few consumer goods--all those wages during WWII with nothing to buy, so people were sitting on big fat savings accounts, and then wanted houses, cars, furniture, etc. after years of deferring major purchases due to depression and then war. It took a couple of years for industry to re-tool and for domestic supplies to ramp up.
If we can straighten out our domestic oil and gas production so that we aren't importing any, and possibly exporting LNG to Europe, energy prices should stabilize.
Maybe it's just that I'm old, but it has seemed to me for a long time that food prices have been artificially low, and that we were due to some reversion to the historical mean. The correction will be painful in the short run, but if it results in a more sustainable system then it's not all bad.
On food, I recommend reading some Michael Pollan or watching Food Inc. We pay so much less now for food (say last 10-15 years) than anytime post-WW2 (as a percentage of disposable income), but it has definitely come at a cost to sustainability and health. I think our monopsonistic food system has really been exposed the past couple years.
I saw a piece comparing this period to the 1946-1949 period just after WWII in terms of disrupted supply chains, a vast pool of money chasing very few consumer goods--all those wages during WWII with nothing to buy, so people were sitting on big fat savings accounts, and then wanted houses, cars, furniture, etc. after years of deferring major purchases due to depression and then war. It took a couple of years for industry to re-tool and for domestic supplies to ramp up.
If we can straighten out our domestic oil and gas production so that we aren't importing any, and possibly exporting LNG to Europe, energy prices should stabilize.
Maybe it's just that I'm old, but it has seemed to me for a long time that food prices have been artificially low, and that we were due to some reversion to the historical mean. The correction will be painful in the short run, but if it results in a more sustainable system then it's not all bad.
On food, I recommend reading some Michael Pollan or watching Food Inc. We pay so much less now for food (say last 10-15 years) than anytime post-WW2 (as a percentage of disposable income), but it has definitely come at a cost to sustainability and health. I think our monopsonistic food system has really been exposed the past couple years.