More food shortages and price hikes are coming before the end of 2023, as President Joe Biden’s economic agenda, dubbed “Bidenomics,” once again puts too much pressure on inflation and food production.
(Article cross-posted from Natural News)
“The economy is in the dump, and no matter how many times the media or President Joe Biden tells us how great we are doing, Americans are going to judge that for themselves by what they see in their wallets, their bank accounts and what the bill is every time they shop for food, appliances, cars, homes or anything else they may need to purchase,” wrote Susan Duclos for All News Pipeline. (Related: Massive government spending is keeping inflation high, warns market expert.)
“Many Americans have been waiting for prices to lower, but even if inflation came to zero – which isn’t even their goal, two percent is – prices will not come down. They just wouldn’t rise for that month,” wrote Duclos. “The only way to lower prices is to see negative inflation, which simply isn’t going to happen.”
The current rate of inflation has slowed down to 4.9 percent in July year-over-year – still more than double the Federal Reserve’s target of two percent – the slowest it has been since last fall. This is also down from the 5.7 percent annual inflation recorded in June.
Of the different food products that saw price increases, frozen vegetables posted the largest increase, costing 17.1 percent more than it did last year. This is followed by margarine, with prices up by 11.3 percent annually.
Other notable food products that saw price increases include cereals and bakery products, which are now seven percent more expensive, and dairy, which is 1.3 percent more expensive.
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The ongoing price increases represent a bigger strain on American household budgets, as Americans now consume 13.4 cents on food for each $1 in consumer spending – the second-largest expense for Americans, second only to housing at 34.7 cents per dollar.
“To be sure, the high inflation of the past two-plus years has done lots of economic damage,” noted Mark Zandi, chief economist of Moody’s Analytics. “Due to high inflation, the typical household spent $202 more in July than they did a year ago to buy the same goods and services. And they spent $709 more than they did two years ago.”
The U.S. Department of Agriculture estimates that by the end of the year, food prices will be an average of 5.8 percent higher than in 2022. Next year, food prices will continue rising by an estimated 2.4 percent.
Food shortages in popular food products to continue
To make matters worse for Americans, many food products are expected to experience shortages in the remaining months of the year.
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Megan Hageman of Eat This, Not That! warned that five popular food products expected to have troubles with supply are rice, pasta, chocolate, salmon and flour.
The world’s supply of rice has been ravaged since the Western world blocked Russian rice exports since the beginning of the Russian special military operation in Ukraine. Damaging weather in major rice-producing countries like China and Pakistan has also dented global supply.
While pasta is not a core cuisine for most Americans, the global decrease in pasta supply has still affected U.S. households, with the average price of a pound of spaghetti and macaroni rising to $1.47 compared to an average cost of $1.21 per pound last year. In Italy, the pasta shortage got so bad that the country’s government met for crisis talks earlier this year solely to address the issue.
Cocoa – the main ingredient of chocolate – has become a hot commodity in recent months, and current prices are the highest they have been in nearly 12 years. Cocoa is heavily dependent on fertilizer, and because of the drop in global fertilizer supply due to the sanctions on Russian fertilizer exports, global supply has dropped drastically.
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The drought in many parts of the U.S. has brought salmon populations into a steep decline this year. To protect the remaining population, California has banned commercial and recreational salmon fishing for the entirety of the 2023 fishing season.
The flour shortage has been ongoing since last year, causing prices to rise by 8.5 percent compared to last year. Analysts warn that Americans will likely continue to feel the effects of this shortage into 2024. Dry conditions in the South and Central U.S. have caused crops of hard red winter and hard red spring wheat to decline, leading to shortages.
Learn more about the true state of the American economy at EconomicRiot.com. Watch economist Steve Moore explain why Americans will still feel the dire effects of inflation in the coming months.
This video is from the News Clips channel on Brighteon.com.
More related stories:
- Fast-food chains under Yum! Brands to go CASHLESS soon: Taco Bell, Pizza Hut, KFC to REJECT cash.
- INFLATION WOES: Millennials crumble, turn to social media to air frustration over soaring cost of living.
- Compilation: Millennials CRUSHED by inflation freak out over soaring cost of living.
- More Americans continue to rely on Buy Now Pay Later (BNPL) services to combat inflation and consumer debt.
- Wealthy shoppers now embracing discount stores amid worsening FOOD INFLATION.
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Five Things New “Preppers” Forget When Getting Ready for Bad Times Ahead
The preparedness community is growing faster than it has in decades. Even during peak times such as Y2K, the economic downturn of 2008, and Covid, the vast majority of Americans made sure they had plenty of toilet paper but didn’t really stockpile anything else.
Things have changed. There’s a growing anxiety in this presidential election year that has prompted more Americans to get prepared for crazy events in the future. Some of it is being driven by fearmongers, but there are valid concerns with the economy, food supply, pharmaceuticals, the energy grid, and mass rioting that have pushed average Americans into “prepper” mode.
There are degrees of preparedness. One does not have to be a full-blown “doomsday prepper” living off-grid in a secure Montana bunker in order to be ahead of the curve. In many ways, preparedness isn’t about being able to perfectly handle every conceivable situation. It’s about being less dependent on government for as long as possible. Those who have proper “preps” will not be waiting for FEMA to distribute emergency supplies to the desperate masses.
Below are five things people new to preparedness (and sometimes even those with experience) often forget as they get ready. All five are common sense notions that do not rely on doomsday in order to be useful. It may be nice to own a tank during the apocalypse but there’s not much you can do with it until things get really crazy. The recommendations below can have places in the lives of average Americans whether doomsday comes or not.
Note: The information provided by this publication or any related communications is for informational purposes only and should not be considered as financial advice. We do not provide personalized investment, financial, or legal advice.
Secured Wealth
Whether in the bank or held in a retirement account, most Americans feel that their life’s savings is relatively secure. At least they did until the last couple of years when de-banking, geopolitical turmoil, and the threat of Central Bank Digital Currencies reared their ugly heads.
It behooves Americans to diversify their holdings. If there’s a triggering event or series of events that cripple the financial systems or devalue the U.S. Dollar, wealth can evaporate quickly. To hedge against potential turmoil, many Americans are looking in two directions: Crypto and physical precious metals.
There are huge advantages to cryptocurrencies, but there are also inherent risks because “virtual” money can become challenging to spend. Add in the push by central banks and governments to regulate or even replace cryptocurrencies with their own versions they control and the risks amplify. There’s nothing wrong with cryptocurrencies today but things can change rapidly.
As for physical precious metals, many Americans pay cash to keep plenty on hand in their safe. Rolling over or transferring retirement accounts into self-directed IRAs is also a popular option, but there are caveats. It can often take weeks or even months to get the gold and silver shipped if the owner chooses to close their account. This is why Genesis Gold Group stands out. Their relationship with the depositories allows for rapid closure and shipping, often in less than 10 days from the time the account holder makes their move. This can come in handy if things appear to be heading south.
Lots of Potable Water
One of the biggest shocks that hit new preppers is understanding how much potable water they need in order to survive. Experts claim one gallon of water per person per day is necessary. Even the most conservative estimates put it at over half-a-gallon. That means that for a family of four, they’ll need around 120 gallons of water to survive for a month if the taps turn off and the stores empty out.
Being near a fresh water source, whether it’s a river, lake, or well, is a best practice among experienced preppers. It’s necessary to have a water filter as well, even if the taps are still working. Many refuse to drink tap water even when there is no emergency. Berkey was our previous favorite but they’re under attack from regulators so the Alexapure systems are solid replacements.
For those in the city or away from fresh water sources, storage is the best option. This can be challenging because proper water storage containers take up a lot of room and are difficult to move if the need arises. For “bug in” situations, having a larger container that stores hundreds or even thousands of gallons is better than stacking 1-5 gallon containers. Unfortunately, they won’t be easily transportable and they can cost a lot to install.
Water is critical. If chaos erupts and water infrastructure is compromised, having a large backup supply can be lifesaving.
Pharmaceuticals and Medical Supplies
There are multiple threats specific to the medical supply chain. With Chinese and Indian imports accounting for over 90% of pharmaceutical ingredients in the United States, deteriorating relations could make it impossible to get the medicines and antibiotics many of us need.
Stocking up many prescription medications can be hard. Doctors generally do not like to prescribe large batches of drugs even if they are shelf-stable for extended periods of time. It is a best practice to ask your doctor if they can prescribe a larger amount. Today, some are sympathetic to concerns about pharmacies running out or becoming inaccessible. Tell them your concerns. It’s worth a shot. The worst they can do is say no.
If your doctor is unwilling to help you stock up on medicines, then Jase Medical is a good alternative. Through telehealth, they can prescribe daily meds or antibiotics that are shipped to your door. As proponents of medical freedom, they empathize with those who want to have enough medical supplies on hand in case things go wrong.
Energy Sources
The vast majority of Americans are locked into the grid. This has proven to be a massive liability when the grid goes down. Unfortunately, there are no inexpensive remedies.
Those living off-grid had to either spend a lot of money or effort (or both) to get their alternative energy sources like solar set up. For those who do not want to go so far, it’s still a best practice to have backup power sources. Diesel generators and portable solar panels are the two most popular, and while they’re not inexpensive they are not out of reach of most Americans who are concerned about being without power for extended periods of time.
Natural gas is another necessity for many, but that’s far more challenging to replace. Having alternatives for heating and cooking that can be powered if gas and electric grids go down is important. Have a backup for items that require power such as manual can openers. If you’re stuck eating canned foods for a while and all you have is an electric opener, you’ll have problems.
Don’t Forget the Protein
When most think about “prepping,” they think about their food supply. More Americans are turning to gardening and homesteading as ways to produce their own food. Others are working with local farmers and ranchers to purchase directly from the sources. This is a good idea whether doomsday comes or not, but it’s particularly important if the food supply chain is broken.
Most grocery stores have about one to two weeks worth of food, as do most American households. Grocers rely heavily on truckers to receive their ongoing shipments. In a crisis, the current process can fail. It behooves Americans for multiple reasons to localize their food purchases as much as possible.
Long-term storage is another popular option. Canned foods, MREs, and freeze dried meals are selling out quickly even as prices rise. But one component that is conspicuously absent in shelf-stable food is high-quality protein. Most survival food companies offer low quality “protein buckets” or cans of meat, but they are often barely edible.
Prepper All-Naturals offers premium cuts of steak that have been cooked sous vide and freeze dried to give them a 25-year shelf life. They offer Ribeye, NY Strip, and Tenderloin among others.
Having buckets of beans and rice is a good start, but keeping a solid supply of high-quality protein isn’t just healthier. It can help a family maintain normalcy through crises.
Prepare Without Fear
With all the challenges we face as Americans today, it can be emotionally draining. Citizens are scared and there’s nothing irrational about their concerns. Being prepared and making lifestyle changes to secure necessities can go a long way toward overcoming the fears that plague us. We should hope and pray for the best but prepare for the worst. And if the worst does come, then knowing we did what we could to be ready for it will help us face those challenges with confidence.
Coffee the Christian way: Promised Grounds
