We had high inflation for ~2 years as fall out from Covid. The world just stopped producing goods for 3-months on a global scale. Hindsight being 20/20 it’s quite clear the covid shutdowns weren’t effective and were harmful. It was an unprecedented event though and virtually every US state and every country worldwide implemented many of the same policies and restrictions. It baffles me this revisionist history that now happens where people try and pin the global inflation on a political party or a few select politicians.
Covid didn't cause the inflation the response caused the inflation.
Let's take a trip down memory lane since you want to bring up revisionism. Back then, do you recall how it was framed? Do you recall one camp saying we will screw the economy and other saying we need to shut down otherwise we're killing old people? Which party called for the shutdowns? Which party was bringing up the economy?
And no, it was not all the same. We spent much much more, we continued to spend much more even after the fact, when inflation was starting to run hot. We continued to keep rates low (a political move by the fed) despite inflation obviously creeping higher.
This post was edited by ofthevoid on Aug 8 2025 12:39pm