this post was submitted on 05 Feb 2024
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(We're talking US only, right?) Isn't the inflation already at 3.5%? The goal is usually around 2%. If the government wants they can get it to 2% by taxing extra corporate profits but even if they don't do it and it will stay at 3% I don't know if it's an 'era of inflation'. It could still be back to ~2% in a year or two if there's no new war in the middle east. Now, looking at what's happening in the middle east my bet is that there will be another war, the inflation will go up again (~10%?) and we'll be stuck in this cycle until global economy splits and isn't affected so much by local conflicts. You can already see this happening post war in Ukraine but it will take a decade or two. So I would say 1-2 years if manage to avoid another war, 10-20 if the current trend continues.
Yeah, the current era is already on the way out. Maybe a new one will begin, though. Even probably, at least for Gulf-reliant Europe, looking at how the Middle East is currently being mishandled.