Biden ushers in era of crippling inflation.

You're the one who said it was worldwide.

Someone else came up with "Cheetolini." I wish I had. Ditto with "Little Boots."

Now, most Democrats might balk at Powell going Full Volker, because of the SEIU underfunded future pension liabilities.

Even Gavin Newsome of California wants to cut state excise taxes on gasoline. Golden State rapidly becoming Mississippi.

Belt-tightening is coming no matter what. That's why your grandpa always said to save some squirrel pelts for a rainy day.

"During the middle of the pandemic, production was way down."

Exactly. People were supposed to stay home. No stimulus was needed. Yet Jerome Powell printed $3 trillion new dollars from February 2020 to November 2020 (and of course more after that - he printed another trillion from May 2021- when most people who weren't morons had gotten vaccinated - to February 2022)

Of course, people still needed shelter, food, energy to cook and heat and cool, health care, etc. I don't know if they needed $3 trillion. I don't think they got $3 trillion.

Now, the (Covid) marketplace alone provided lower interest rates for loanowners to refinance their shacks (itself, stimulus) but Powell's fire hose probably knocked down those rates another quarter? half? percentage point. And the discount rate down to effective ZERO juiced the stock market.

https://www.barrons.com/articles/margin-debt-risk-stock-market-51638474035?tesla=y

"Margin debt is currently 2.4% of the S&P 500 ‘s aggregate market capitalization of $38 trillion. Just before the pandemic, it was at roughly 2%. To be sure, the current level of margin debt relative to the stock market’s value is still below its high, the 3.5% that it reached around the time of the 2008-2009 financial crisis. The lowest point since the mid-1990s was below 2%"

"To be sure, the current level of margin debt relative to the stock market’s value is still below its high"... ONLY because the stock market's PRICE hit "escape velocity" like 4 years ago. c/f doggy coin and grilled cheese sandwich trucks... the S&P500 could probably drop 50% overnight and this would still be the biggest ever bull market run 2009 to 2021...

Skyrocketing house prices, skyrocketing stock prices, wealth effect... trees don't grow to the sky...