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Tuesday, May 11, 2021

Media finally takes note of inflation

 

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Why Is The Mainstream Media Suddenly Freaking Out About The Horrifying Inflation That Is Ahead Of Us?

 Have you noticed that the corporate media has suddenly become obsessed with rising prices over the past week or so?  Day after day, mainstream news outlets are barraging us with stories about inflation, and even CNN is occasionally taking a break from bashing Republicans to cover this. 

 Earlier, I was directed to a CNN article entitled “Prices are rising everywhere you look”, and I decided to read it.  Surprisingly, this was one CNN article that would actually pass an impartial fact check.  We really are seeing very painful inflation throughout the entire economy, and this is causing many to recall the days of “stagflation” under Jimmy Carter in the 1970s. [Mortgage rates hit 16% then]

But the corporate media doesn’t exactly have a long track record of being straight with us.

So why are they seemingly being honest with us in this case?

Is it that this crisis has now become so obvious that nobody can deny it any longer, or is there another agenda at work?

I wish that I had an answer to that question.  If you go to Google News and type “inflation” into the search bar, you will get page after page after page of recent articles about rising prices.  To me, food inflation is one of the greatest concerns because it hits average American families particularly hard.  And at this point, even the price of apples is rising quite dramatically

Costs for apples are up 10% to 20% depending on the variety, said Mike Ferguson, vice president of produce and floral at Topco Associates LLC, an Elk Grove Village, Ill.-based cooperative of more than 40 food companies including grocer Wegmans Food Markets Inc. Bananas and leafy greens are more expensive too, Topco said, while vegetable oils and oil-heavy products like salad dressing and mayonnaise are also getting pricier in part because of higher ingredient prices.

“Our overall goal is to cover cost increases,” said Jon Moeller, operating chief at Procter & Gamble Co. Procter & Gamble is raising prices on baby products, adult diapers and feminine-care brands.

For a while, some food producers tried to swallow the cost increases that they were experiencing, but that could only go on for so long.

Now many of those cost increases are being passed on to consumers, and the CEO of Kellogg is admitting that he hasn’t seen this sort of inflation “in many, many years”

Kellogg Co., maker of Frosted Flakes, Cheez-Its and Pringles, said Thursday that higher costs for ingredients, labor and shipping are pushing it and other food makers to raise prices. “We haven’t seen this type of inflation in many, many years,” Chief Executive Officer Steve Cahillane said.

But at least food prices are not going up as fast as used vehicle prices have been rising.  The following comes from Wolf Richter

This has been going on for months: Used-vehicle prices spiking from jaw-dropper to jaw-dropper, and just when I thought prices couldn’t possibly spike further, they do.

Prices of used vehicles that were sold at auctions around the US in April spiked by 8.3% from March, by 20% year-to-date, by 54% from April 2020, and by 40% from April 2019, according to the Used Vehicle Value Index released today by Manheim, the largest auto auction operator in the US and a unit of Cox Automotive.

A 54 percent increase in 12 months?

That is insane.

And the Fed still has the gall to insist that inflation has been “low”.

I have written quite a few articles about how home prices have been soaring into the stratosphere, and now rents are escalating rapidly as well.

In fact, one of the largest landlords in America just raised rents on vacant properties by 11 percent

On Thursday, American Homes 4 Rent, which owns 54,000 houses, increased rents 11% on vacant properties in April, the company reported in a statement

All throughout the economy we see prices going up by double digits.

But Fed officials insist that these price increases are just “transitory” and are not any sort of a permanent problem.

We are also being told that all of the shortages that have emerged in the past couple of months are “temporary” too.  Some of these shortages are starting to become quite painful, and that is particularly true for the global shortage of computer chips that we are currently experiencing…

In the market for a new car, smartphone or washing machine this year? A global shortage of computer chips could mean you have to wait a while — and pay more.

A growing number of manufacturers around the world are having trouble securing supplies of semiconductors, delaying the production and delivery of goods and threatening to push up the prices paid by consumers.

Just think of all the products that you own that contain computer chips.

It isn’t a short list.



As a society, we have become extremely dependent on computer chips, and CNN is admitting that this shortage “is likely to last through 2021”

The shortage is going from bad to worse, spreading from cars to consumer electronics. With the bulk of chip production concentrated in a handful of suppliers, analysts warn that the crunch is likely to last through 2021.

This shortage is having a dramatic impact up and down various supply chains, and that is going to be the case for the foreseeable future.

At the Sogefi manufacturing facility in West Virginia, the computer chip shortage is just one of the shortages that is causing massive headaches right now

Whenever the Sogefi plant here runs out of resin or computer chips or cardboard boxes or wooden pallets or really anything at all, it’s Randy Simpkins’s problem. And whenever one of Sogefi’s customers howls about a late shipment, that’s Simpkins’s problem, too.

These days, Simpkins has plenty of problems.

Our economy is not functioning very smoothly at all, and that isn’t going to change any time soon.

But on Friday we were supposed to get some good economic news.

The U.S. economy was supposed to have added about a million jobs in April, but instead we learned that it only added 266,000

Employers added a disappointing 266,000 jobs in April even as the number of new COVID-19 cases stayed low, more states lifted constraints and vaccinations accelerated.

The gains fell well short of projections in a recovery that’s expected to gather force through the summer, with a million or more jobs added each month.

This is supposed to be “the recovery”, but the unemployment rate actually went up last month.

Ouch.

Let us hope for a better number next month, because there are millions upon millions of Americans that still need to get back to work.

This little “bubble of hope” is about as good as things are going to get for the U.S. economy, and it is just a matter of time before the economy heads into more dark days.

We have literally mortgaged our future to give our economy a temporary short-term boost, and after trillions of dollars in spending the economic numbers are still incredibly anemic.

Yet again, this is another major wake up call, but most people out there seem quite content to continue snoozing.

If We Are Experiencing Severe Shortages Now, How Bad Will Things Get When The Economy Starts Tanking Again?

***Michael’s new book entitled “Lost Prophecies Of The Future Of America” is now available in paperback and for the Kindle on Amazon.***

 

 

NOTED…



Have you been to the gun store lately?

Shelves are empty.

One BIG reason is because people are worried about the proposed gun control legislation...

After all, it could make buying a gun in the future much harder.

So the gun buying frenzy isn’t slowing down.

In fact, the most guns ever sold during the month of January, was this past January (2021). 

Same deal in February.

And here are some more interesting stats...

A few particular groups have been buying guns at record numbers:

 

- Minorities (up 58%)

- Women (up 40%)

- First-time buyers (some estimates show over 7 million in 2020) 


Look, it’s no secret:

People are worried about crime.

This is a matter of fact and trustworthy statistics...

Someday, you might have to defend yourself or your loved ones.

 

It’s easy to forget that people didn’t always have refrigerators to stop food from spoiling. They had to rely on natural methods to keep food cold; that’s why so many foods were seasonal. In case of massive power outages, you need to learn ways to keep your food cold without electricity.

 Depending on your location, it can be hard to use some of these methods. Areas with arid, dry weather excel at keeping food cold with electricity, but humid areas struggle because most off-grid methods for keeping food cold rely on evaporation. Humidity reduces evaporation.

 Don’t fret! No matter where you live, there are ways to keep your food cold without electricity...

 9 Ways To Keep Food Cold Without Electricity

You may also like...

 11 Tips To Avoid Heat Stroke When Your AC Goes Down

 



 

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SIDEBAR:

What are some items that you think you should start hoarding for a major, cataclysmic disaster? Water? Absolutely. Food? Also absolutely. Ammo? For sure. First aid equipment? Definitely. Gasoline? Yep.

 The list goes on. All of those things are incredibly valuable items to hoard for survival, and you can probably think of about ten or twenty other types of survival supplies as well.

 That being said, there are countless ordinary items--things people use every day--that are relatively cheap and can be used for survival. The wisest among us are already stockpiling them...

 18 Things Everyone Should Start Hoarding

You may also like...

 23 Things That Preppers Shouldn't Throw Away

 

Prepare. Train. Survive.

 

Useful Resources from our storefront-See new items!

 

You Can’t Buy Life Insurance After You’re Dead-Prepare NOW for Emergencies…



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4 comments:

Ray said...

Always jam packed with useful goodies-we share your articles with many of our friends!

Todd said...

you can see the world is entering into some new territory. And frankly, most people aren't ready for the shit-storm that could come down on average folks like me and you and our families if things really went south in a big way.

Because if it ever gets to the point where people run out of food and water -- law-and-order WILL break-down, (there are clear signs that it's already beginning to happen).

Mandy said...

the price of corn is going to affect the price of most of the things that the average American buys at the grocery store, and at this point the price of corn is up “roughly 50%” so far in 2021…

America’s biggest cash crop has rarely been more expensive.

Tim said...

We’ve reached a point now where anyone who can’t see inflation is clearly not paying attention.

Inflation has now become so ridiculous that, according to the Wall Street Journal, even the price of a USED car is increasing… by a lot.

Since January 2020, NEW car prices have increased 9.6%. But USED car prices are up 16.7% over the same period.