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That's what people said last year. This is the new normal. Welcome to hyper-inflation. You can't drop 3 trillion dollars on the economy and expect things to cost the same.
Approximately 40% of all dollars printed were printed in the last year, and that was before the most recent cash giveaway.
source?
The money stock in January 2020 was $15,419.8 billion. Today it's $19,411.3 billion (fred.stlouisfed.org). That's a 26% increase. In other words, 26% of all dollars in existence came into existence in the last year. Unless you can say the GDP increased by 26% then that means 26% inflation is coming. You can't just increase the supply of money, hold GDP constant, and not have the value of money drop proportionally.
From late 2020: https://www.investmentwatchblog.com/35-of-all-us-dollars-ever-printed-were-printed-this-year/
The primary document that claim was made on: https://fred.stlouisfed.org/series/M1
Edit: Here is a more easily digestible source https://tradingeconomics.com/united-states/money-supply-m0
Last thing I’ll be doing this year is buying some gay video card for a homo game.
The fed isn't retarded and the money printing isn't happening in a vacuum, there will be no hyperinflation.
Have you noticed something lately? My homeowner's insurance premium this year is 30% more than last year, and 80% more than two years ago. My auto insurance increased by 40% this year even though I have no claims or tickets. Shit, even the price of the dog food I have to buy is up 30% over this time last year. No inflation my ass.
Doesn't take long to google why: https://www.iamagazine.com/markets/covid-19-s-impact-on-homeowners-insurance
As people continue to stay at home, and even in places where people have slowly started to return to work, insurance carriers are seeing a shift in the kinds of claims customers are filing. More frequent and minor claims, such as water damage, have increased due to increased usage while people are at home.
I don't know about auto insurance, but the dog food is more than likely caused by idiots hoarding it like toilet paper, driving up the price, nothing the government can do about that.
Evidence?
This isn't the first time it happened: https://www.stlouisfed.org/publications/regional-economist/january-2014/the-rise-and-eventual-fall-in-the-feds-balance-sheet
Note that "money printing" isn't entirely accurate, the fed is adjusting the rate money can be lent at, this way it can "unprint" money as the economy recovers and in the end you'll have your usual 2% inflation.
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