Taps Coogan – June 18th, 2021
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Household wealth has surged by roughly 100% of GDP since the Covid pandemic started. If this is what a recession looks like, we’d better start worrying about the recovery.
Also, if inflation is transitory, presumably this massive increase in wealth relative to the supply of goods and services in the economy (GDP) must be transitory too, right? Or are we pretending that it’s a base effect too?
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