If we are worried people are paid $18 an hour and that is too much and that gets the gas prices up -- but mainly things that are not that volatile like rent and consumer stable products -- then we are in for a rude awakening and also we live in a "slavery" driven world still.

The production of oil and supply chains is not even close to 2019 levels. Electronic manufacturing and tooling needs 1-2 years to catch up to 2019 (current) demand. Scaring investment does not help.