Economists have been wrong about nearly everything recently. Knowing how long covid lockdowns would last, deciding that inflation was gone forever (Modern Money Theorists, eat your heart out), and deciding that inflation didn’t exist when it so clearly did. In my last article I pointed out that whether it was economists being stupid, or economists not being able to say what we were all thinking out loud, it didn’t matter. If I could summarise the last four decades (of which I have only been alive for slightly more than three of them), it would be “Just In Time” (JIT). Unfettered…

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