A ton of money flooded into the economy via stimulus, the brighter folks realize that inflation is inevitable and rush out to every random scarce good in the hopes it will retain value.

When this many people feel that NFTs or Pokemon cards might be a better store of value than, say, the USD, it probably should be giving us some kind of shock, no?

And at this rate, we'll probably get that $15/hr wage soon enough. As you pointed out, the real question will be whether it actually buys more than the existing minimum wage once did.