The lockdowns prompted the mad fiat debt creation of 2020 and 2021. From Jeffrey A. Tucker at brownstone.org:
The outrageous prices at the grocery store and gas stations – the highest ever recorded and increasing at rates too fast to calculate with precision – are yet more collateral damage from the initial lockdowns two years ago. The story unfolds over two years but the line of causality is direct.
Apparently it’s going to get much worse. I wonder if at some point, no one will remember how this all began. Maybe everyone has already forgotten.
I asked a friend: do you think people understand the relationship between the March 2020 lockdowns and the wild price increases two years later? The answer came: no way.
That surprises me but I also understand. There has been so much flimflam coming from the media and government spokespeople for so long, so many many attempts to demonize and scapegoat.
In addition, for many people, the past 24 months have seemed like one big blur when everything they thought about the world has been blasted to pieces. It’s extremely disorienting. After a while, one can get used to the chaos and just accept it without attempting to account for it. The lines of causality too become blurry.
The latest mess – and this doesn’t even account for the shocking talk of nuclear war that is now in the air – profoundly affects all states in the US, not just the blue ones that stayed closed much longer than red ones. Red states have felt normal but now they too must deal with incredible price increases in everything plus strange and random goods shortages on the shelves.