Inflation

Most people have not been concerned about inflation since it has been about 2% for the past 25 years. During this time the money supply increased from $5 trillion to $20 trillion. Econ 101 defines inflation as too much money chasing too few goods and that is exactly what has been going on for over 20 years. It now appears that this is coming to an end and the country is facing wage/price inflation. This is because too many people had extra money handed out to them and thus demand has increased. While this is going on supply is limited as products sit in ships off the California coast. The government is about to spend another $1.75 trillion and the supply chain is broken so inflation should continue.