shrinkflation hits the grocery stores:
MEDIUM EGGS at walmart last week only $2.18/dozen
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Yes, the recent inflation is transitory. The hyper-inflation crisis probably starts to arrive in about 20 years, with full crisis mode 30-40 years away.
This is based upon an understanding of the longwave economic cycles.
One of the problems Republicans had in the last election was over-emphasis on inflation, which had already started to abate by election day.
We are still closer to a deflationary crisis (i.e., Great Depression II) than to hyper inflation.
It it were left alone (I can dream!), the economy would regenerate in this part of the longwave, including a historic wave of innovation (similar to those waves at the advent of autos, and later computers).