The tipping point is when raising prices results in people no longer buying. GDP will then drop precipitously as prices go up even more. Even food becomes too expensive and then you have grocery market thefts going through the roof. Shortly thereafter, food riots will happen. Once that happens the government can’t control the situation anymore and the government will fall to the mob. There aren’t enough bullets to stop it at that point.
Hopefully this never happens. Hopefully some sort of sanity reins it all in and they do something to fix it.
In the mean time, my garden this year is about 4 times what it was last year. I’ve also started chickens for eggs and have 4 cows in my neighbor’s pastures. I have the good fortune to live in a rural area.
I think we are almost there. People will drive less. Tourist industries will suffer. People are not going to drive to the beach for the 4th of July holiday. That will reduce the pressure on prices so it'll reach equilibrium soon.
I had a hen I quit feeding because the hawks had gotten the rest so I figured she wasn’t long for this world. She’s still here two years later and laid eggs the whole time without layer crumbles. Just foraging.