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Was demand higher because of free money being stuffed down everyone's throat?

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demand might have been higher, but primarily due to people stockpiling money during the shutdowns lol.

but supply was MUCH lower.

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I disagree

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People being forced to stay home absolutely plummeted manufacturing supply. There are a lot of manufacturing plants that are simply designed to run 24/7... if not, the machinery gets damaged. (Ask anyone that works in the chemical plants in Texas.)

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