You Think Prices Are Bad Now? Here's What You Can Expect Later This Year

In my whole life, I've never experienced an economy in our country in such shambles. Those of you who have been around for longer and have more wisdom on the matter than I do may have a different perspective, and I respect that. The Biden economy, on the other hand, isn't much of an economy at all.

It's already expensive, but expect things to get worse in the coming months, officials say.

In order to keep inflation under control, the Federal Reserve has begun what many expect to be a long sequence of interest rate hikes, which are already wreaking havoc on the stock and housing markets, with job losses certain to follow. However, as tired as Americans are of paying record-high gas and grocery costs, another round of price hikes is working its way through the food supply chain and will reach consumers this fall.

“People don’t realize what’s fixing to hit them,” said Texas farmer Lynn “Bugsy” Allen. “They think it’s tough right now, you give it until October. Food prices are going to double.”

The 8.8% increase in food prices that Americans have already observed does not include the significant cost hikes that farmers are currently facing. This is due to the fact that farmers pay their expenses up front and only recoup them months later at the point of sale.

“Usually, what we see on the farm, the consumer doesn’t see for another 18 months,” said John Chester, a Tennessee farmer of corn, wheat, and soybeans. However, given the magnitude of these price hikes, customers may experience the effects much sooner, especially if weather becomes a factor, which wouldn't be unheard of.

Sadly, a major factor that determines the cost of food is the cost of oil because the machines that farmers use take diesel fuel to run them. That's why Biden instantly shot Americans in both feet when he stopped the drilling that we were doing here in America which President Trump put in place which made us an actual net exporter of oil. That's why we were enjoying low gas prices back then.

Photo Credit: Mike Mozart

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