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On the heels of a prediction from a grocery chain chief that food prices could be 14% higher within just months – because of inflation under Joe Biden – an expert is reminding Americans to remember just who is at fault.
Article by Bob Unruh from WND.
Brad Polumbo wrote, for the Foundation for Economic Education, in a posting at the Liberty Loft, “When we hear terms like ‘Consumer Price Index’ or ‘expansionary monetary policy,’ the conversation surrounding inflation quickly becomes inaccessible for many people, whose eyes understandably glaze over amid discussion of the abstract-seeming phenomenon.”
But, he explained, “at its core, price inflation is simply a question of our purchasing power being eroded. Because what really matters is not the number on our paychecks, it’s what that number can buy us. So, Americans should react to a 6 percent rise in consumer prices just as vociferously as they would react to having their salary cut. It’s essentially the same thing.”
“And, as we’ve previously explained here at FEE, consumer price inflation can ultimately be traced back to the policy decisions made by the federal government. So, don’t let them off the hook when your grocery bills start to spiral upwards. Remember whose fault it really is.”
His comments followed a Fox Business report that included comments from John Catsimatidis, the billionaire owner and CEO of New York City supermarket chain Gristedes.
He warned inflation will lead to even higher grocery prices by October. Speaking on “Varney & Co.” he predicted “by October you’re going to have over a 6% annualized rate of inflation.”
The report said the forecast from Catsimatidis, also the CEO of Red Apple Group, a real estate and aviation company, came after it was confirmed U.S. consumer prices rose last month at the fastest pace since August 2008.
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The Labor Department said this week prices rose 5.4% year over year with prices trending higher every month this year. Analysts surveyed by Refinitiv were expecting prices to rise 4.9% annually.
Polumbo explained, “While we can’t know for certain, Catsimatidis said rising costs could mean an astounding 10 to 14 percent specific increase in grocery prices by October. That’s truly a shocking amount. But this warning offers more than insight into the grocery industry. It’s a painful reminder of how price inflation hurts everyday Americans.”
Fox Business cited a 10.5% spike in used car prices, 1.5% hike in energy over just one month, and food prices up 0.8% in that time.
The report said, “FOX Business’ Ashley Webster asked Catsimatidis if he is going to be forced to pass the extra costs onto consumers.”
“You have to pass it on otherwise you’re not doing your duty to guard your country, your employees and your company,” he responded.
Bottlenecks that developed during the COVID pandemic, workers who are being paid by the government to stay home, and more factors, are contributing.
Federal officials have admitted that inflation is here, and will be around for awhile. But they also claim that the increases will be “transitory.”
American Patriots Uniting to Fight Tyranny from, Well, Everywhere
We’re building a new conservative news network. Based on responses from fellow patriots, we’re heading in the right direction.
It may be hard to believe based on what we’re seeing around the nation today, but there are many reasons to be hopeful. First and foremost, the false narrative that most of America hates traditional values or the foundations of our nation are finally being proven false. Despite the best efforts of globalists and Neo-Marxists, patriotic Americans are starting to unify in droves. Meanwhile, Joe Biden can barely muster a half-filled auditorium to deliver his message to the scant few watching CNN and the paid shills in the “crowd.”
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The “silent majority” that drove Donald Trump to victory in 2016 and 2020 (yes, he won by a landslide but was robbed along with the American people) is finally starting to realize we cannot stay silent any longer. We used to win with our votes, but those are being stolen. We used to win with truth, but the radical left and their agents in mainstream media, Big Tech, and academia are building a post-truth society to drown out reality. Today, we are waking up to the realization that only through direct action and fearlessly spreading the truth can we overcome the nefarious forces working against us.
We are proud to be working our way up to the tip of the conservative media spear. Our network is growing. We’re establishing strong partnerships with like-minded news outlets and courageous journalists. Even as Big Tech suppresses us, the honest messages they’re trying to quash are finding their way to the eyes and ears of patriots across the nation. With the help of new content partners like The Epoch Times and The Liberty Daily, we’re starting to see a real impact.
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They’re Trying to Shut Us Down
Over the last several months, I’ve lost count of how many times the powers-that-be have tried to shut us down. They’ve sent hackers at us, forcing us to take extreme measures on web security. They sent attorneys after us, but thankfully we’re not easily intimidated by baseless accusations or threats. They’ve even gone so far as to make physical threats. Those can actually be a bit worrisome but Remington has me covered.
For us to continue to deliver the truth that Americans need to read and hear, we ask you, our amazing audience, for financial assistance. We just launched a GiveSendGo page to help us pay the bills. It’s brand new so don’t be discouraged by the lack of donations there. It’s a funny reality that the fewer the donations that have been made, the less likely people are willing to donate to it. One would think this is counterintuitive, but sometimes people are skeptical because they think that perhaps there’s a reason others haven’t been donating. In our situation, we’re just getting started so please don’t be shy if you have the means to help.
Thank you and God bless!