In America and around the world, prices are skyrocketing. Inflation is spinning out of control. Inflation has now become a snowball rolling all around the world and creating an avalanche in the global economy.
What happens next and how did we even reach this point?
Let’s Be Honest
Let’s be honest here. We all know the COVID pandemic has been one of the main factors that led to this.
Remember the lockdowns that shut down fully functioning businesses and turned them into a shell of their former selves? Remember everyone staying inside and hiding from a virus by wearing cloth masks?
The pandemic left the developed world in the intensive care unit (ICU) with no foreseeable date of discharge. Now, we’re all reaping the whirlwind.
Couple that with extremely reckless big government spending on the part of the Biden regime and various other leftist authoritarians from Argentina to the UK, and you have our current crisis.
Then came the war in between Russia and Ukraine, making the situation even worse. This includes both financially and economically in various ways.
Gas Utilities are ⬆️33.0%
Food at home ⬆️13.5%
New Cars ⬆️10.1%
Food away from home ⬆️8%
Used Cars ⬆️7.8%
With Democrats in control, Americans have seen food prices skyrocket and their hard earned money eaten up by inflation.
— Senator Thom Tillis (@SenThomTillis) September 13, 2022
Dire Impact of the Russia-Ukraine War
Ukraine is one of the biggest oil-producing nations in the world; the war has enormously cranked up the price of gas worldwide. Of course, Biden has also pursued very anti-energy policies, but it is also true the war made it much worse.
Then, take food where interruptions to the grain, sunflower oil, and staple crops of Ukraine and Russia have had a very dire impact on supply from India to America.
The effect is prices have gone way, way up, including for meat. After all, livestock tends to eat a lot of grain products as well, which have now become much more expensive and in demand.
Now, you can understand why so many people seem to be going vegan!
Though this situation is not going to be easy to resolve. With currencies getting inflated and prices going way up, we’re dealing with a vicious cycle that only looks like it will get worse.
August inflation numbers are out & they are worse than expected. Food prices continue to skyrocket as real hourly earnings are declining for American workers.
It’s time to put an end to the reckless spending that brought us into this crisis & provide relief for families.
— Pete Stauber (@RepPeteStauber) September 13, 2022
It Gets Worse…
Take even a common product like beer. Its ingredients are mainly grain, including barley. It also takes money to can and bottle the beer with aluminum and glass.
Well, glass and aluminum prices have risen 70% in the EU since this disastrous war. So good luck finding a cheap beer in France or Spain!
For the elites like the Biden regime or the liberal democrats running the EU, these high prices don’t affect them. They still eat whatever they want.
For the rest of us, we now have to be more strategic and cautious with our wallets and credit cards as we wait out this economic storm.
This article appeared in FreshOffThePress and has been published here with permission.