I sure don’t pretend to understand it even at a macro-macro level, but from a common sense standpoint there’s something that just doesn’t make sense to me:
Starting from the assumption that we’re a capitalist economy and that every company wants to thrive - sell products and make a profit doing so - why is EVERY industry seemingly so screwed up? Yes the pandemic shutdowns were highly disruptive, but that started in Q2 2020 and here we are in Q4 2021 with massive problems. Hasn’t everyone had time to get settled and back to work? I’ll use semiconductors as an example because the natural flowtime for a wafer run is measured in weeks, which should mean there was a time when chips weren’t available but then companies caught back up. Except they haven’t and leadtimes are longer now than a year ago. I just can’t understand why, no matter how long the pipe is, after you shut the water off for a while but then turn it on again, water’s got to come out the end!
why is EVERY industry seemingly so screwed up?
the surprising thing is that it works at all.
“why is EVERY industry seemingly so screwed up?”
Because it’s all interconnected in ways that can’t be calculated. Go upthread and watch the video of Friedman I posted.
L