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The Economist Reviews Pandemic Goods Boom 2020-22 [Eurodollar University, Ep. 261]

Eurodollar University

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The Rise in Goods Consumption in the United States

Jeffrey Sachs: America out performed all but two of 23 oe c d countries. A deluge of new orders overwhelmed global supply chains, which were already strained by pandemic related disruptions. The only way simple economics teaches us that in balance gets resolve is through prices. And old people have been savaging us all along, saying we don't understand inflation. We're not saying that consumer prices didn't increase. What we're saying is they didn't increase because it was inflation.

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