It’s fairly simple. In 2020 countries across the globe shutdown, and to keep economies “safe” governments printed money and handed it out more or less to people who were in economic danger - waitresses who could not work, though furlough schemes and the like.

USA printed basically 10 trillion (yes with a T). UK about 1 trillion. Germany, France, Spain, South Africa Japan and so on. Maybe 25 trillion? No one seems to have counted.

Under MMT (modern monetary theory) this is fine as long as government takes away the printed token (money) later on in form of tax

But they have not. The money has flowed from waitresses to landlords, to supermarket owners and their landlords and to share owners of supermarkets - basically it went from the poor to the middle class and then to the ultra wealthy.

The ultra wealthy now have an extra 25 trillion dollars. So they “invest”.

Real estate goes to stupid prices (see cost of a 4 bed house in London).

Stock market hits new highs.

But the rest of us have sold our nice middle class homes in suburbs for stupid amounts and moved … somewhere with less amenities.

Or are renting in cities at high rates and food prices going sky high.

The simplest answer is governments only did half the job - the next job is a uber wealth tax - holding of over say 20 million, 30 million, just get taxed, forcing sale of assets and return of assets to the flowing economy and then governments can afford things like welfare and investment again.

We should stop privileging the privileged.