So if trade is back to normal and there are now no apparent supply shortages, with the capacity to meet demand clearly existing, the question has to be, why is inflation continuing?
We know there is no wage / price spiral, because wages are very obviously lagging prices just about everywhere, so that cannot be the answer.
The only obvious answer in that case is that profits have risen and are being maintained. Greedflation is keeping prices high.
The question is then, when will we get price controls if business refuses to bring them down by itself?
Well, maybe:
The net rate of return for private non-financial corporations (PNFCs) was 9.8% in Quarter 2 (Apr to June) 2022, down from 10.3% for Quarter 1 (Jan to Mar) 2022; it then fell further to 9.7% in Quarter 3 (July to Sept) 2022.
Oh, maybe not then.
Sigh. He just never bothers to check his assertions, does he?
“The only obvious answer in that case is that profits have risen and are being maintained.”
“For every complex problem there is an answer that is clear, simple, and wrong.” — H.L. Mencken.