August Already

Doesn’t time fly? It doesn’t seem that long ago since we were celebrating the New Years arrival. We hoped Omicron would herald, not the complete end of Covid 19, but at least a gradual return to normal as Covid becomes accepted as a virus on par with Influenza. This optimism was priced in to the stock markets of the world.

Everyone had plans to finally spend on the nice things in life that we had collectively been denied since early 2020. Unfortunately the gods of supply and demand were unmoved by our previous enforced deprivation. Too many people chasing too few goods and services sent prices through the roof. I guess I’m saying once the cages were opened, rampant inflation was sure to follow.

Rising inflation seemed to be an OK price to pay initially, but the increase in CPI was turbo-charged when China enforced a zero Covid policy – choking supply further and Putin with perfect calculation pushed his expansionist agenda and brought consumers further pain as energy prices rocketed. High inflation followed.

All of the above is history. What is amazing is we are 7 months further down the road now.

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