Demand hasn't returned to pre-Covid levels and supply of some products is an issue, but oil is not.

I meant cruel in regards to basic needs like housing - the inability to buy more BS isn't cruel.

Some economists believe Volker's actions weren't necessary and other methods could have achieved results, but 20-20 hindsight and speculation won't change the past. My parents bought a home in the late 70s in LA and managed to get by on one wage, but income hasn't increased with the price of homes.

Glad you survived, and hopefully, the government develops a solution to keep people in their homes. Otherwise, homeless camps will be the norm.