January 2022 was a fever dream. If you look back at where we were exactly four years ago today, the world felt like it was vibrating with a specific kind of tension that we’ve almost—but not quite—forgotten. We were trapped in this weird liminal space. The pandemic wasn't "over," but the collective patience for it had basically vanished. People were burnt out. Honestly, looking at the data from early 2022, it’s wild how much that single month set the stage for the economic and political mess we’ve been navigating ever since.
It wasn't just one thing. It was everything, all at once.
The Omicron Surge and the Great "Vibe Shift"
By mid-January 2022, the Omicron variant was absolutely tearing through the population. Remember the long lines for PCR tests? Or those orange-and-white rapid test boxes that suddenly became more valuable than gold? On January 10, 2022, the U.S. actually reported over 1.3 million new COVID-19 cases in a single day. That is a staggering number. It remains the highest daily total ever recorded.
But the vibe was different than in 2020. People were "done." This was the month of the "vibe shift," a term popularized by Allison P. Davis in The Cut. We moved from a period of collective sacrifice to a sort of jagged, individualistic survivalism. Schools were struggling to stay open, not because of mandates, but because so many teachers were out sick at the same time. This was the "Great Sick-Out."
It’s easy to forget how much that month broke our social contract. We stopped expecting things to work. Flights were canceled by the thousands because flight crews were in quarantine. Restaurants shortened their hours. If you tried to buy a couch or a car back then, you were told to wait six months. This was the peak of the supply chain crisis, fueled by factory shutdowns and a massive shortage of semiconductor chips.
Why January 2022 Was the Beginning of the Inflation Nightmare
If you’re wondering why your grocery bill is still so high in 2026, you can trace a lot of it back to the decisions and data points from four years ago. On January 12, 2022, the Labor Department dropped a bombshell: the Consumer Price Index (CPI) had risen 7% over the previous year.
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That was the highest inflation rate since 1982.
At the time, the Federal Reserve—led by Jerome Powell—was still trying to play it cool. They used the word "transitory" a lot. Looking back, that was a mistake. By late January, the Fed finally signaled that they would start raising interest rates in March. That pivot changed everything for the housing market. If you bought a house in early 2022, you might have snagged a 3% mortgage rate. Within months, that world was gone forever.
The Crypto Peak and the NFT Craze
January 2022 was also the "peak weird" era of the internet. OpenSea, the NFT marketplace, hit a record high monthly trading volume of around $5 billion that month. Everyone was talking about Bored Ape Yacht Club. Justin Bieber bought one for $1.29 million in late January.
It felt like a permanent shift in how we valued digital art.
Of course, we know now that it was a massive bubble. Most of those assets lost 99% of their value within two years. But at the time, the "Web3" hype was inescapable. It wasn't just hobbyists; legacy institutions like Walmart were filing trademarks for virtual goods and NFTs in mid-January. It was a gold rush built on digital sand.
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The Looming Shadow of Ukraine
While we were distracted by Wordle (which, by the way, was the absolute obsession of January 2022), the geopolitical landscape was shifting beneath our feet. Throughout the month, Russia was moving troops to the Ukrainian border.
Diplomacy was failing.
On January 14, a massive cyberattack hit Ukrainian government websites, telling citizens to "be afraid and expect the worst." We didn't know then that the full-scale invasion would happen just five weeks later, but the intelligence reports coming out of the White House in mid-January were increasingly dire. This tension was already starting to spike oil prices. Brent crude crossed $85 a barrel in mid-January 2022, its highest level in years. The energy crisis was beginning before a single shot was fired.
Wordle: The Last Great Unifier?
It sounds silly now, but Wordle was the only thing keeping us together. Josh Wardle sold the game to The New York Times at the very end of January 2022 for a price in the "low seven figures."
It was a rare moment of digital innocence.
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Before the NYT acquisition, there were no ads, no tracking, just a simple grid. It was the perfect antidote to the "doomscrolling" that defined the Omicron surge. Every morning, the green and yellow squares dominated Twitter (back when it was still Twitter). It was probably the last time the internet agreed on a single, wholesome activity.
Lessons Learned from the Chaos of Four Years Ago
So, what does this actually mean for us today in 2026?
First, it proves that "transitory" is a dangerous word in economics. The supply chain issues of early 2022 led to permanent structural changes in how companies manage inventory. "Just-in-time" manufacturing died in January 2022, replaced by "just-in-case" stockpiling. This is why warehouse space is still at a premium.
Second, the shift in work culture became permanent. January 2022 was the month many companies tried to force a "Return to Office" (RTO), only to have Omicron blow those plans out of the water. That third failed attempt at RTO was the breaking point. It’s why hybrid work is the standard today. Employees realized they had the leverage, and they never gave it back.
Actionable Insights for Moving Forward
If you want to apply the lessons of 2022 to your life or business today, consider these specific steps:
- Audit Your "Hidden" Subscriptions: Many of the digital habits we formed in the winter of 2022—streaming services, niche apps, premium news tiers—are still draining our bank accounts. Check your statements for "zombie" subscriptions from that era.
- Hedge Against Global Instability: We learned in Jan '22 that energy prices can jump 20% in weeks based on news half a world away. Diversifying your energy sources or investing in efficiency isn't just "green"—it's a financial defense strategy.
- Value Tangible Assets Over Hype: The NFT collapse taught us a brutal lesson. If you're investing, prioritize assets with real-world utility or cash flow. "Community" and "vibes" are not a substitute for a balance sheet.
- Embrace the "Pivot" Mindset: The most successful businesses in 2026 are the ones that learned to change their entire operating model in a week, just like schools and hospitals had to do during the Omicron surge. Resilience is a muscle you have to keep training.
Looking back, January 2022 wasn't just a month of illness and inflation. It was the moment the "Old World" finally admitted it wasn't coming back. We’ve been building the "New World" ever since.