Economic changes don’t happen over night. The effects of world production shuttting down and massive stimulus takes time to matriculate through the economy. Think about it, let’s take car components. Prior to COVID companies had their inventory stocked up. Then the world shuts down. People aren’t buying and manufacturers aren’t producing for months. Then trillions of stimulus get released into the economy and that takes time for checks to hit and currency to flow. The shutdowns lift and economic activity resumes. That’s when Trumps presidency ends. Now we have this situation where the top earners are flush with cash and ready to buy but supply is way behind. And by “way behind” I mean months and years away from catching up.
So for companies to get the components they need given the short supply, prices double and triple and quadruple. This happens from cooper mining to refinement to cable production to chip comments to computer boards to the end products…
This is one example. But anybody who understood business and economics new that the effects of COVID and shitting down the world would have effects felt for the better part of the next decade.
That’s not a president Biden thing, that’s just how economy’s work. Have you compared the state of the US economy to other major countries?