Bottleneck or Sustained Inflation? Here's one for the bottlenecker camp from Llewellyn Consulting. Note RHS is pent up demand for consumer durables while LHS shows fall incomes to support that demand. Does not scream the 1970s to me... pic.twitter.com/hOK6nlUFQJ

— Mark Blyth (@MkBlyth) May 28, 2021