NPR was trying to spin this story this morning, trying to downplay threats of inflation. Their economic expert said once the relief checks stop coming, demand will go down. I disagree. There is a lot of pent up demand right now and once the fully vaccinated in America catch Spring Fever, they are not only going to want goods, like new homes and cars, they will also want to travel, splurge in restaurants, and buy services.
And to make it even worse, Biden wants to spend trillions on "infrastructure". Expect massive inflation unless reasonable minds in the Democrat Party get President Biden to scale back his plans. Or better yet, spread out the spending long term.
Thomas Sowell: There are no solutions, just trade-offs.
