How do you figure Mercy and Comfort have closed the ports? I've seen no evidence of that.
"Nobody gets inflation when everybody is trying to achieve it."
Disagree. Inflation is simply a result of an increase in the money supply. It will be interesting to see the results of every US taxpayer receiving a direct payment. I think it has to have inflationary impacts. If not, why couldn't the gov just deposit a million dollars in every person's bank account? Poverty problems solved. We know that's not possible and wouldn't work. If everyone became a million dollars richer over night, all that new money would chase a limited supply of goods, thus driving up prices (inflation).
I'm not sure Mercy/Comfort are blocking the ports, as they are hospital ships, but I do agree there is something significant about them being assigned to LA and NY. Watching with great interest.
Ok, I see your point and agree that some people are getting the direct payments who are now out of work. It has simply replaced their previous income. But what about the majority of people who are still employed receiving thousands of dollars in direct payments? I assume there are more people still employed than people who have lost their jobs/paychecks.
Velocity certainly has an impact, but not the cause. The root cause is expansion of the money supply. If the supply of money is increased, yet the goods being chased by those dollars in the economy remain the same, then prices have to increase.