Given the huge monetization of debt and the rapid increase (about 75%) in money supply in 2020, it can be expected that inflation will pick up in the coming quarters.
How will a left-wing government likely respond to this? The classic way is to impose price controls to shift the blame from the politicians and the central bankers who created the inflation to the “greedy businessmen” who are raising prices.
When inflation picks up, there will likely be a call for price controls, probably through executive decrees rather than legislation, at least at first. When there are price controls and prices are set below market levels, there will be shortages. BRACE YOURSELVES FOR THIS. It’s Jimmy Carter all over again. I hope Carter will still be alive to see his administration’s policies replayed in its full glory.
We just want our $2,000/mth each. “WHERE’S OUR DOUGH, JOE AND HO?!” 💰💰💰💰. 😄
Gas lines, whee!
It’s enough to make me think about a hybrid.
In the 70s my parents owned a store with gas pumps so we didn’t have to go through that.