This is what the early chapters of an inflationary meltdown appear like. Last week, we were notified that “customer costs were 7.9% greater in February than a year ago”, and that was being promoted as the highest figure “in 40 years”. Obviously those that follow my site regularly already know that the reality is much worse than that. If the inflation rate was still calculated the manner in which it was back in 1980, it would be over 15 percent today. We are already experiencing the sort of agonizing inflation that Americans were forced to withstand during the Jimmy Carter age of the 1970s, and now the war in Ukraine is going to entirely alter the video game moving on.
Recently, the average price of a gallon of fuel in the United States increased 13 percent, and considering that this time last year it is up 38 percent.
And now that the war in Ukraine is moving the global energy crisis into overdrive, Americans are going to be feeling the pain of higher energy costs in an entire host of different methods…
Americans are facing sticker shock at gasoline station throughout the nation, however surging worldwide energy expenses are rippling through the economy in other methods, too: Airline companies are scaling back on flights. Truckers are fanning surcharges. And lawn care business and mobile canine groomers are upping their service fees.
One trucking company executive that was inquired about this stated that he has “never seen rates jump this high, this quick”…
“Consumers truly don’t wish to hear it, but fuel prices are skyrocketing so we’re needing to charge more,” said John Migliorini, vice president of Lakeville Trucking in Rochester, N.Y., where diesel expenses have actually nearly doubled to about $400,000 a month. “What option do we have? I’ve never seen rates jump this high, this fast.”
And he is precisely appropriate.
Ever since the full-blown intrusion of Ukraine was introduced on February 24th, we have seen prices spiral out of control all over the nation.
Joe Biden knows that the American individuals are getting restless, and he is attempting to pin the blame for our inflation headache on Vladimir Putin.
But Vladimir Putin didn’t borrow and spend trillions upon trillions of dollars that we did not have more than the last two years.
Our leaders in Washington did that.
And Vladimir Putin didn’t create trillions upon trillions of fresh dollars out of thin air and use them to prop up our monetary system.
The Federal Reserve did that.
This inflation crisis began long prior to the war in Ukraine, however without a doubt the war in Ukraine is going to make things even worse.
In truth, the UN is now alerting that global food prices might soon leap by as much as 22 percent “above their currently elevated levels”…
With dozens of countries around the world relying heavily on both Ukraine and Russia for food products, the United Nations cautioned Friday, the continuous war is likely to considerably drive up worldwide food rates and get worse malnourishment in the Global South. With both Ukraine and Russia’s capability to produce and export food uncertain, a worldwide supply gap “could rise worldwide food and feed prices by 8% to 22% above their currently elevated levels,” saidthe U.N. Food and Farming Organization (FAO).
2 weeks into Russia’s intrusion of Ukraine, which has eliminated more than 560 civilians and required more than 2.5 million people to run away the country, FAO stated approximately 30% of Ukrainian wheat fields will not be gathered in the 2022 to 2023 season due to the violence.
For the billions that are already living in poverty all over the planet, that is really, really problem.
Here in the United States, one Oklahoma farmer informed Laura Ingraham of Fox News that we are “going to get hit on every front”…
“We’re going to get hit on every front, on every cost possible,” Oklahoma farmer Ben Neal told Ingraham, “From fertilizers to sustain to labor, insurance coverage– whatever in between [including] our packaging supplies.”
Neal’s farm runs on a farm-to-market company design, so he has direct fuel costs for transportation. But every farmer essentially deals with the same thing– crops need to be transferred to processors and final markets and there are increasing fuel costs to power the trucks, trains, barges and ships that make that happen.
To put it simply, groceries are going to be getting more pricey.
A lot more pricey.
Meanwhile, our economic war with Russia continues to intensify.
Over the past couple of weeks, the U.S. has actually hit the Russians with a variety of financial sanctions, and without a doubt those sanctions are actually starting to harm…
European energy is just one part of the sanctions piece. Financially Europe and the US have actually frozen deposits of euros, dollars and sterling held by Russia’s central bank, cutting Russia off from a big part of its net reserves. In produced items Russia is now isolated from extra parts materials for Boeing and Jet aircraft and for almost every private automobile in Russia. Russia is also cut off from brand-new materials of servers (cloud computing can not expand capacity), software and a range of high-end chips which Russia can not yet produce.
Some commercial software application (particularly in the oil and gas market) just runs with routine provision of unlock keys, which will not now get here. Some millions of Russian employees of Western business are now functionally out of work, while all Russians are now cut off from travel to Europe and The United States And Canada. Imports of western items of all kinds to Russia are now stalled for absence of approved shipping, while exports of oil and metals are under hazard from sanctions on shipowners.
The Russian economy will never be the very same after this.
However will ours?
We have already been suffering through a quite agonizing chip scarcity for the last 2 years, and now the war in Ukraine threatens to take it to a completely brand-new level…
The continuous geopolitical tussle between Russia and Ukraine is most likely to have another casualty– the semiconductor chip. Palladium and neon are two resources that are key to the production of semiconductor chips.
Given that Russia materials over 40 percent of the world’s supply of palladium and Ukraine produces 70 percent of the worldwide supply of neon, we can anticipate the worldwide chip lack to worsen must the military dispute continue, Tim Uy, of Moody’s Analytics wrote in a recent report.
It would be difficult to overemphasize the severity of what we are possibly dealing with.
Nearly every market in America relies on equipment that contains computer chips.
So what will our economy appear like if the chip shortage ends up being very extreme?
And this is simply one way out of hundreds that our financial war with Russia is going to harm us.
Most Americans simply do not understand how horrible things will end up being if this thing extends on for a prolonged amount of time.
We should be expecting peace, but rather most prominent voices seem to want to escalate matters with Russia even more.
What we are enjoying play out right in front of our eyes must distress us all, because there will be no going back after this.
*** It is lastly here! Michael’s new book entitled “7 Year Armageddon” is now available in paperbackand for the Kindleon Amazon. ***
About the Author: My name is Michael Snyder and my brand name brand-new book entitled “7 Year Apocalypse”is now offered on Amazon.com. In addition to my brand-new book I have composed five other books that are readily available on Amazon.comincluding “Lost Prophecies Of The Future Of America”, “The Starting Of Completion”, “Get Prepared Now”, and “Living A Life That Really Matters”. (#CommissionsEarned) When you buy any of these books you assist to support the work that I am doing, and one manner in which you can really assist is by sending digital copies as giftsthrough Amazon to friends and family. Time is brief, and I need aid getting these cautions into the hands of as many individuals as possible. I have actually published countless short articles on The Financial Collapse Blog Site, End Of The American Dreamand One Of The Most Crucial News, and the posts that I release on those sites are republished on lots of other prominent websites all over the world. I constantly freely and happily permit others to republish my articles on their own sites, but I also ask that they include this “About the Author” area with each short article. The product consisted of in this short article is for basic info purposes only, and readers need to consult licensed specialists prior to making any legal, organization, monetary or health decisions. I motivate you to follow me on social networks on Facebookand Twitter, and any way that you can share these short articles with others is a great help. These are such struggling times, and individuals need hope. John 3:16 tells us about the hope that God has actually offered us through Jesus Christ: “For God so loved the world, that he gave his only begotten Boy, that whosoever believeth in him need to not die, but have long lasting life.” If you have actually not already done so, I strongly advise you to ask Jesus to be your Lord and Hero today.