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That's just part of the money supply. M2 increased as well, but perceptually much less.

There is no evidence of hyperinflation as of now, but we certainly have an inflation hype.

The items I buy in the supermarket are same price as before. My rent is the same as before. Gasoline is up, but I barely use any of it now when I work from home.

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> The items I buy in the supermarket are same price as before. My rent is the same as before. Gasoline is up, but I barely use any of it now when I work from home.

And, more importantly, it's merely... up. Still well below 2014 highs. There's a real concern that the wildcat producers won't come online this time. But on the other hand a huge shift to electrification hitting demand at exactly the point where you would've been counting on even sleepy wildcat for supply to come back online (sustained $100/barrel or so).

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