US GDP data show stagflation – Asia Times

Altogether, the available data show the United States dead in the water, with inflation eating up all the demand stimulus that the government poured into the post-Covid economy. And all the price indicators suggest that it is getting worse.

via asiatimes.com

Locking down our economy was a terrible idea. Businesses should have stayed open, students should have stayed in school, and old people should have been protected from the virus. Instead we locked down, destroyed the economy, and many of us are still wearing masks at work, and there are still many mandates that apply to people with natural immunity, some of whom refuse to get unnecessarily vaccinated. Many people are pushing for kids to get vaccinated, which seems like the inverse of irrational vaccine hesitancy. It didn’t have to be this way. Or so it seems. Maybe this kind of deep stupidity is woven into our system.