…The bottom line is both shortages and higher prices. Canada will feel it the worst; however, U.S. stores will feel it also. The inflation this will drive will be on top of existing price pressure. We have been warning since October, prices will increase, and shortages will be impactful.
The retail food stores have been reflecting the majority of the price increase from government COVID policy. This vaccine mandate will make those price increases more as transportation costs will increase again. However, the second route for fresh food delivery, “food away from home“, will suffer the majority of this price increase. Restaurants, hotels, cafeterias, bars and institutional settings (hospitals, nursing homes, etc.) will see significant increases in their food costs.
A perfect storm has been created by policy.
Energy policy has driven up oil, fuel, packaging and gas prices. Transportation costs have skyrocketed. Emission regulations have driven up port costs and delayed transportation fracturing the supply chain. Vaccine mandates have hit the manufacturing and processing sectors. Legislative policy and COVID spending have artificially inflated the economy. Monetary policy has devalued the dollar and driven even higher inflation.
A tenuous economy cannot take these self-inflicted wounds…. and it’s about to get worse.
Into this hurricane of stagflation, the fed is going to raise interest rates. The stock market could lose half its inflated value. The NASDAQ is already responding to the storm clouds. Employment is going to start getting really sketchy. Congress will eventually announce their remedy, which will be more spending – and the dollar gets worse.
All of this was avoidable.
None of this is caused by COVID-19.
All of this is caused by Joe Biden’s economic, financial, monetary and legislative policy.
The people behind Joe Biden are laughing….
…Biden has no idea.
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