[ndriscoll]

I didn't know when the Fed/government might stop lying about it, but inflation was immediately obvious to me, and should've been to anyone with assets and who tracked those assets' value. My net worth in Mint grew 38% from Feb 2020 - Feb 2021 (so from the high before the big dip in March 2020) during a time when everyone was talking about supply chain disruptions, delays, lockdowns, etc. My manager and I would regularly talk about how crazy it was that such a huge wealth transfer to the rich was happening in front of everyone.

I bought a house as soon as I could once the interest rate drops happened. Prices were going up by more than my net income each month. Given that I make several times median, I still don't know how there haven't been riots over it.

[cj]

I think this is where the "inflation is transitory" catchphrase was born.

"Yes, we see all of these price changes, but don't worry it will go back to normal after the pandemic" ... which people went along with for a while, until it was clear that prices weren't dropping back to normal.

[superwalker]

Inflation being transitory doesn’t imply prices will ever go down though. That was just people not understanding how inflation works.