Thanks To Omicron, The Price Increases Of 2022 Will Be More Painful Than Anything We Have Experienced Before
Francesco Abbruzzino, The Uncensored Report, LLC
Most people simply do not understand that we really are moving into a long-term economic emergency. So much of the economic optimism that fueled rallies in the financial markets throughout 2022 was based on a belief that the COVID pandemic would soon be brought to an end. Well, that obviously has not happened. After everything that has been done, the COVID pandemic in the United States is now worse than ever. In fact, on Wednesday there were 465,470 newly confirmed cases in the United States alone. That shattered the old daily record by more than 100,000. The Omicron variant is spreading like wildfire, and this is going to cause mass panic during the early stages of 2022.
It doesn’t take a genius to figure out what this is going to mean for the economy. Fear of Omicron is going to weigh heavily on production all over the globe, and so there will be less stuff available for us to buy. Meanwhile, fear of Omicron is also likely to make our supply chain crisis even worse. It will be even more of a challenge to move goods around the globe in a timely manner, and that is going to mean even more empty shelves.
But thanks to the reckless policies of the Biden administration and the Federal Reserve, Americans have lots and lots of money in their pockets. All of those dollars are going to be chasing declining levels of goods and services, and that is going to result in hair-curling inflation.
Of course what we have already experienced has been painful enough.
Earlier today, the top moderator of one of the most popular discussion forums on the Internet posted this…
Just bought 2 prime ribeyes for $64…
I was shocked!
That’s got to be double what I used to pay.
Meat prices are getting really crazy, but they are only going to go even higher.
The same thing can be said for all other food prices too. Even before Omicron came along, major companies all over the country were preparing major price hikes for 2022.
For example, the maker of Oreos and Ritz crackers has announced that all of their prices will be going up 6 to 7 percent next year…
Mondelez International, which makes snacks including Oreo cookies and Ritz crackers, will increase prices by 6% to 7% in January, the company said last month.
Other food producers will be implementing much larger price increases. When the Wall Street Journal reported that Kraft Heinz would be lifting prices by as much as 20 percent in 2022, that definitely alarmed a lot of people…
According to the Wall Street Journal, Kraft Heinz’s price increases were among the most dramatic heading into 2022, with some items going up as much as 20%; the price of the company’s Grey Poupon mustard, for example, will increase between 6% to 13%.
And it is being reported that General Mills will also be raising prices by around 20 percent…
A “major regional wholesale supplier” leaked to CNN a letter that General Mills sent retailers to inform them that the price of some products could increase by as much as 20% starting in mid-January. This would be on the extreme end, but that high rate is certainly concerning.
So get ready to pay a whole lot more for cereal.