History tells me it’s the former.
Material conditions...yeah, "the economy, stupid." And you can clearly see which way the wind is blowing
After all the fighting over it, the infrastructure bill does exactly nothing in the near term. Is it a big job creator in a time when no one can find enough help? Will it just be more of a burden on an already overloaded logistics industry? But then...I have no idea what's in that bill.
Roads and bridges? Surely there are roads and bridges. Because they booted all the good sh*t out.
Anything that would take an ounce of pressure off the average American was nixed. Because it could cost the wealthy a few pennies. The sad part about this is that the average American is entirely okay with it.
I'm no economist, but I suspect that a lot of this inflation was caused by Trump's earlier overheating of the economy to keep his numbers good. The pandemic derailed Trump. Trump's economic blowback is gonna derail Biden(and the Democrats). It's kind of a rinse and repeat situation.