📊 Stockpiles are back, Now we have too much stuff. American warehouses and store shelves are filling up with stuff. Fresh government numbers out yesterday showed wholesale and retail stockpiles continue to mount, even as the ferocious consumer appetite for stuff — toys, clothes, furniture, packaged goods — that emerged as a feature of the pandemic economy may be ebbing.

Target, for instance, said it ordered way too many televisions and home appliances that it’ll have to put on sale. If you are a shareholder in Target, it’s kind of a bummer that the company screwed up and now has to put a bunch of stuff on sale at lower prices. This means your profit margins are likely to fall.

But if you’re a shopper: score. Maybe that massive flat-screen you want is on sale. (Also, if you’re Federal Reserve chair Jerome Powell, whose job is to pull inflation down to earth, it’s good to get word that some prices are going to be discounted.)

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