> Reckless spending played a part, but a major (if not the biggest) component was every company getting it into their heads to "test the price advantage" of their products

What makes 2022 so unique that just now corporations figured out they can raise prices? Why haven't profit margins taken off in 2022 [0] ?

These always struck me as bad explanation. Mostly hand waving. I think a more reasonable explanation is that increasing the money supply over 30% in a few years resulted in prices and asset levels going up ~30%.

[0] https://www.gurufocus.com/economic_indicators/62/corporate-p...