What no one noticed, though, was that this was predatory growth. It was growth premised on extracting the incomes, savings, livelihoods of the people who had once been the middle class, and were now the new poor (and of course, of the poor as well). But not just that — their bodies, minds, souls, towns, cities, futures, and democracy itself too. All these things were left ruined and destroyed. American life expectancy plunged: bodies. The Rust Belt was left to rot: cities and towns. Americans began to believe strange and foolish things, like vaccines were bad for them — minds. Suicide rates skyrocketed — souls. And so on.
I don’t see any inflation to speak of in the economy and a lot of the reason is things like the president’s tax cuts, which are gonna stimulate a lot of investment, productivity growth, downward pressure on wages.