It is going to get worse before better
Gas out of sight
Bare grocery good shelves particularly bread and meats
Ammunition and Gun sales will soar
oil to $175 a barrel
Crime is going off the charts
Thanks Joe Biden
I watch a lot of financial guys that look at the broad picture and historic trends. Everything is lining up for a major downturn, worse than ‘08. The numbers are worse than in 2007 across the board. last qtr GDP had negative growth (shrank). We’re looking at a perfect storm of global events. Many governments are already in severe debt because of the lockdowns
They’re fudging a lot of numbers including CPI and inflation is much worse than reported when including things deliberately left out like home and rent prices. Real inflation is more like 12%. It’s never been this high before so saying it’s a forty year high is another attempt to diffuse the bad news.
When the greatly increased price of grain coupled with a huge increase in shipping costs hits the supply chain in a few months it’s going to drive up the prices of most foods a bunch.
shipping a container from Asia to the left coast cost less than $2,000 two years ago. It’s now more than $10,000.
New car and truck sales are down 23%. University of Michigan studies consumers habits and attitudes and it’s at it lowest point in forever. Over 60% of Americans were already living paycheck to paycheck with little savings and little room in their budgets.
44% of US farmland is in severe drought. China had their worst wheat harvest ever. China has had to destroy two thirds of their pork due to swine fever. More than the rest of the worlds pork combined. Poorer places like Africa can’t afford 300-400% increases in fertilizer and their crop production will decrease dramatically. World wide supply chain problems and shortages are further slowing economies.
None of this is made up. We’re heading for at best a long deep recession but more likely a global depression. For us here it won’t be as bad. We are the most self sufficient country in the world and the most resilient economy, But financially many will lose big time and the poor and lower middle class will suffer severely.
the simpletons here will of course will throw there insults but ignore them, the way they ignore anything but their same old tired media sources. Do your own research, it’s all easy to find if you can be honest with yourself and deny what you hope is true. The world will never be the same again.