re: For folks that are old enough to remember the high inflation of 70s-80s

Especially with gas prices, there’s a saying in economics…. Prices rise like a rocket and drop like a feather.

As someone alluded to, the 70s and 80s were also a period, like now, of technological upheaval. Personal computers, VHS players, etc came down to affordable levels as technology improved at a rapid rate. Same with cars to a large degree as the Japanese started flooding the Market with reliable cheap cars.

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I don't want to get into politics but it's sickening when the financial people appointed by the geriatric current occupant of the WH were warned yet let the printers go 24/7.

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This has been going on since Ben Bernacke

It will be hard to predict wrt timing because the dems are deliberately trying to destroy the economy.

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What happens to prices of goods after inflation is brought under control? Do they go down to some previous level, or are the new high prices there to stay and the only way for folks in the middle class to feel less pain is for wages to catch up?

People help educate us younger folks on what to expect in terms of prices in the next 2-3 years?

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Back in the day, times for high inflation were great times to go back to get additional degrees. At that time, tuition didn't rise at the same rate as the price of goods, and you could still get low interest student loans. By the time you got the degree, your starting wage out of school increased dramatically more than your lost wages and tuition costs for the time you were back in school.

That model does not hold true, anymore.

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Don’t most auto companies hold their own loans, thus allowing them to keep low and many times zero interest rates.

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I know Toyota's commercial finance was a mess for a long time. I never got the impression that they were a profit center. They seemed to get treated like a necessary evil

That is forklift and commercial vehicles, not cars.

Prepare for some bad times. The FED will create a recession supposedly to cure inflation. It was bad during the 81-82 recession. This is where we begin to lose more manufacturing jobs and it won't be just in the Rustbelt.

There are auto plants in the South which are hitting their 20-30-40 year point and the German and Japanese companies have no loyalty to the US South. They will want to cut labor costs and the recession will give them an excuse to look to cut wages and they will move out of the country and look for people to tell us that new manufacturing plants in Mexico will stop and slow down illegal immigration.

We will be told the caravans will stop in Northern Mexico because of all the new manufacturing jobs. So if you are opposed to illegal immigration you should support manufacturing jobs in Northern Mexico. So expect UMSCA to expand.

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Prices are going to have to come way back down because people are quitting different products. Name brand soft drinks like Coke, whose price has nearly doubled in 18 months (aka decades worth of 2% annual inflation) are just sitting on the shelves untouched at the grocery store. Meanwhile all the cheap knock offs are sold out. There will have to be huge price deflation for them to get their customers back.

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Came back to point out that sodas were "rolled back" by over 25% at the local Wal Mart today. Wonder how something as popular as Coke and Dr Pepper at Walmart dropping by 30% affects the next inflation readout. Assuming its nationwide...and surely not alone in price reduction. Inflation has peaked and may crash now.

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All while now, as the mortgage rates are quickly climbing towards 8%+ and "high yield" savings accounts are like 1.25%

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As long as the banks have ample cash on hand, this will continue.