Pandemic lockdowns are coming to an end in the U.S., and with them, a massive economic recovery has begun. The closest parallel is the post-World War II era. That period created a massive societal “reset” in terms of employment, housing, infrastructure, wages and financial markets -- just like now.
Consider the circumstances of both periods. The nation is forced into difficult circumstances by a frightening enemy. Shortages are commonplace. The government and private sector focus on obtaining sufficient ammunition to vanquish this foe. Workers are furloughed, people are fearful even as the economy starts to recover. It takes time, but soon victory is at hand. The reopening begins with surging inflation, spot shortages of commodities, a dearth of housing, difficulty finding workers, and a very challenging transition as factories and offices struggle to restart and return to a more normal setting.
