@daveyf, the reason I have used this economist for 15 yrs is because they did make my business a fortune so I don't have to rely on Vegas :) They don't forecast the stock market either. And, yes, no one has a crystal ball and they didn't predict covid or Ukraine or any other black swan event that comes our way.
The real gist of this thread is prices are high and maybe or hopefully they will come down. All I am saying is that the input costs into these products including labor are not forecasted to go down anytime soon. We may be waiting awhile to see it happen. So if a reader is holding back on purchasing something, consider that the price could go up 20% over the next 4 yrs so you'll need a 20% reduction just to get to the same "high" price point as today. Of course 4 yrs from now, todays price will be a "deal" and won't be considered "high".
I told my sales team this week: The best time for a customer to purchase our industrial equipment at the lowest forseeable cost is today.