The spending shifted from services to goods.

The story is that massive consumer spending is driving demand beyond what can be delivered. But, um, consumer spending in the US was down 1.9% in December. But inflation was way up — 7%. Inflation happens when there is too much money chasing too few goods.…
Climate Change Disrupts Capitalism — Then What?
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Anthony Signorelli
Kerry Landon-Lane
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Jan 22, 2022
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The spending shifted from services to goods.
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Written by Kerry Landon-Lane735 Followers
·142 Following
OP-ED writer, designer and artist. Most recently returned to architecture and deliberately presents the subject void of buildings.
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