No one could have predicted printing greater amounts of fiat to fund economic stimulus would increase inflation. Even residents of zimbabwe and venezuela could not have predicted this outcome. Joking aside, I'm certain many believe exactly this which is kind of sad.

It helps to remember inflation terminology was redefined around the 1970s to paint a rosier picture of the economy. What economists call 3% inflation today, would amount closer to 10% inflation using the old terminology.

The only positive I see here is my personal surprise circumstances aren't worse. It seems like life is throwing multiple apocalyptic scenarios at us at once. Pandemics, lockdowns, climate change, vaccines, tax hikes, fuel shortages, electrical grid blackouts. We're lucky things aren't worse than they are.

I wonder if everyone is preparing for the worst. Or if we are still assuming this will blow over and life will return to normal.