Too much money chasing too few goods succinctly captures everything I've read. The idea of widespread gauging requires concerted behavior that's not realistic
you can't be that stupid?
(ok, everything going on now days proves people ARE that stupid, and it doesn't dissuade them in the least from thinking they are experts on things they know zero about).
and unfortunately people are as dishonest as they are stupid, so i never know which i am dealing with. (or both).
that said,
A), good luck proving, other than the investor class, has more money now than 6 months ago, or 2 yrs ago, as while many, (not all), have gotten some stimulus, in your false increased money supply hypothetical, you're only counting the added stimulus the workers have gotten, and not factored in all the lost wages and earnings plus their velocity multiplier effect, so in reality, not you nor anyone else knows or can even put up a good defense that the money supply has increased 1 cent, vs a non covid economic situation the last couple yrs.
just as likely the money supply today is actually less, once you factor in the lost wages/earnings plus velocity multiplier side of the ledger, which no one does.
and only doing one side of the ledger will not tell you anything, other than that one side.
and you are only doing one side of the ledger here.
B), increased money supply or not, increased money supply only impacts prices for monopolistic industries that don't face sufficient market competition. (and yes, since Reagan and Wall St's takeover of the DNC as well, monopolization has been rampant).
increased money in competitive markets has little to no impact on prices.
in competitive industries, prices are a factor of costs and competition prices, as in a competitive market, increased money supply or not, if you increase your price over your competition, the consumer will just go to the competition.
in monopolistic markets, prices are based in "how much ya got"?
show me an industry where there have been large price increases, and i'll show you a monopolized industry.