Thursday, June 9, 2022

"Go To The Stores And Stock Up Now Because Things Are About To Get Really Crazy"

Full screen recommended.
"Go To The Stores And Stock Up Now Because
 Things Are About To Get Really Crazy"
by Epic Economist

"Grocery shortages and bare shelves are back with a vengeance, and farmers, industry executives, and even government agencies are warning us that they’re only going to get worse in the weeks and months ahead. And if you thought you have been spending way too much on everyday essentials lately, well... get ready to spend even more because everything is getting far more expensive. As our food production collapses and more and more farmers abandon their crops due to rising costs, grocery prices are set to reach sky-highs this summer, and U.S. consumers will be left scrambling with widespread shortages for the second consecutive year.

If you walked through a grocery store recently, you probably have seen by yourself that empty shelves are starting to multiply. Over the past year, U.S. households have faced localized shortages of certain products and brands while they also dealt with soaring grocery bills and dramatically higher living expenses.

Americans are paying more for everything – from electronics to housing to food, and even more worryingly – fuel. The relentless rise in gas and diesel prices is also having a major impact on U.S. farmers, who are losing motivation to plant and take care of their crops due to a massive increase in commodity prices, raw materials, and fertilizers. According to Iowa farmer, Ben Riensche, the challenges he and his fellow agricultural producers are facing will soon result in “unprecedented grocery bills for millions of U.S. consumers.”

"If you think we're seeing food price spikes right now, I think the food price increases are just starting," Riensche said. "And I don't think your grocery bill will be $1,000 a month. I think it may go up $1,000 a month." That’s a prospect that has alarmed even the USDA, leading the agency to issue a report suggesting that food inflation is threatening to spiral out of control as several factors weighing on the U.S. food supply chain are compounding to send prices to levels not seen since the end of the Carter presidency.

Needless to say, Americans will be totally gutted by another wave of grocery price hikes. According to a Morning Consult survey, 71% of U.S. households are already struggling to keep up with rising grocery prices, 41% reported that they will change their prospective purchasing habits if prices soar higher, and 51% revealed they’re already noticing empty shelves at their local supermarkets. So if you know that you are going to need something in the months ahead, we advise you to buy it now, because with the way things are going there is a very high chance that you will be paying a whole lot more if you wait.

Unfortunately, this is just the beginning. Things are getting crazier and crazier in our domestic supply chains. And the inflationary nightmare we have been into over the past few years won’t be over anytime soon. We should start bracing for more disruptions, extensive shortages, skyrocketing prices, and some more unpleasant surprises coming our way during the second half of this year. So go to the stores and stock up while you still can, because things will soon get much more chaotic."

No comments:

Post a Comment