Have you observed that the corporate media has suddenly become obsessed with rising prices over the previous week or so? Day after day, mainstream news outlets are barraging us with stories about inflation, and even CNN is sometimes taking a break from bashing Republican politicians to cover this. Earlier today, I was directed to a CNN short article entitled “Prices are rising everywhere you look”, and I chose to read it. Remarkably, this was one CNN article that would in fact pass an impartial truth check. We really are seeing really agonizing inflation throughout the whole economy, and this is causing lots of to remember the days of “stagflation” under Jimmy Carter in the 1970s.
But the corporate media does not precisely have a long track record of being straight with us.
So why are they apparently being sincere with us in this case?
Is it that this crisis has now ended up being so apparent that nobody can deny it any longer, or exists 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 current posts about rising rates. To me, food inflation is one of the best concerns due to the fact that it hits average American families particularly hard. And at this moment, even the price of apples is increasing rather dramatically…
Expenses for apples are up 10% to 20% depending on the variety, stated Mike Ferguson, vice president of produce and floral at Topco Associates LLC, an Elk Grove Town, Ill.-based cooperative of more than 40 food business including grocer Wegmans Food Markets Inc. Bananas and leafy greens are more pricey too, Topco stated, while vegetable oils and oil-heavy items like salad dressing and mayo are also getting costlier in part since of higher ingredient rates.
“Our overall objective is to cover expense increases,” said Jon Moeller, operating chief at Procter & Gamble Co. Procter & Gamble is raising costs on infant items, adult diapers and feminine-care brands.
For a while, some food producers tried to swallow the expense increases that they were experiencing, but that might just go on for so long.
Now a lot of those cost increases are being passed on to consumers, and the CEO of Kellogg is confessing that he hasn’t seen this sort of inflation “in numerous, several years”…
Kellogg Co., maker of Frosted Flakes, Cheez-Its and Pringles, said Thursday that greater costs for ingredients, labor and shipping are pushing it and other food makers to raise costs. “We haven’t seen this kind of inflation in lots of, many years,” Chief Executive Officer Steve Cahillane stated.
However at least food rates are not going up as fast as used automobile costs have been rising. The following comes from Wolf Richter…
This has actually been going on for months: Used-vehicle rates surging from jaw-dropper to jaw-dropper, and simply when I thought rates could not perhaps increase even more, they do.
Prices of used cars that were sold at auctions around the US in April surged by 8.3% from March, by 20% year-to-date, by 54% from April 2020, and by 40% from April 2019, according to the Utilized Car Value Index launched today by Manheim, the largest car auction operator in the US and a system of Cox Automotive.
A 54 percent increase in 12 months?
That is ridiculous.
And the Fed still has the gall to firmly insist that inflation has actually been “low”.
I have actually composed many short articles about how house rates have actually been skyrocketing into the stratosphere, and now leas are escalating quickly also.
In truth, among the largest landlords in America simply raised leas on uninhabited homes by 11 percent…
On Thursday, American Residences 4 Rent, which owns 54,000 homes, increased leas 11% on uninhabited properties in April, the company reported in a statement
All throughout the economy we see rates going up by double digits.
But Fed authorities firmly insist that these rate increases are simply “temporal” and are not any sort of an irreversible problem.
We are also being informed that all of the scarcities that have actually emerged in the previous couple of months are “momentary” too. Some of these lacks are beginning to end up being quite unpleasant, which is especially true for the global shortage of computer chips that we are currently experiencing …
In the market for a new car, smart device or washing machine this year? An international lack of computer chips might mean you have to wait a while– and pay more.
A growing number of manufacturers worldwide are having difficulty protecting supplies of semiconductors, delaying the production and shipment of items and threatening to rise the prices paid by consumers.
Just think of all the items that you own which contain computer chips.
It isn’t a list.
As a society, we have actually ended up being exceptionally based on computer system chips, and CNN is admitting that this scarcity “is most likely to last through 2021”…
The scarcity is going from bad to even worse, spreading out from cars to customer electronics. With the bulk of chip production focused in a handful of providers, experts alert that the crunch is likely to last through 2021.
This lack is having a dramatic impact up and down numerous supply chains, and that is going to be the case for the foreseeable future.
At the Sogefi manufacturing center in West Virginia, the computer chip shortage is just among the scarcities that is causing massive headaches today…
Whenever the Sogefi plant here runs out of resin or computer system chips or cardboard boxes or wooden pallets or truly anything at all, it’s Randy Simpkins’s problem. And whenever one of Sogefi’s clients wails about a late delivery, that’s Simpkins’s issue, too.
Nowadays, Simpkins has a lot of issues.
Our economy is not functioning extremely efficiently at all, and that isn’t going to change at any time soon.
But on Friday we were supposed to get some good financial news.
The U.S. economy was expected to have actually included about a million jobs in April, however rather we found out that it just added 266,000…
Employers added a frustrating 266,000 tasks in April even as the number of new COVID-19 cases remained low, more states lifted restrictions and vaccinations sped up.
The gains fell well short of projections in a recovery that’s anticipated to gather force through the summer season, with a million or more jobs included monthly.
This is expected to be “the recovery”, but the unemployment rate in fact increased last month.
Let us expect a much better number next month, due to the fact that there are millions upon countless Americans that still need to get back to work.
This little “bubble of hope” has to do with 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 provide our economy a short-lived short-term boost, and after trillions of dollars in spending the financial numbers are still extremely anemic.
Yet once again, this is another significant awaken call, but most people out there appear quite content to continue snoozing.
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