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When all else fails, blame the weather.
A 13 August CNN business story (“Get used to surging food prices: Extreme weather is here to stay”) sought to divert attention away from the obvious, with respect to spiraling food costs.
According to the story, a global COVID shutdown egged on by MSM outlets, and inflationary government fiscal and economic policies, aren’t the culprits.
“Extreme weather” is to blame. The CNN story found several experts who managed to avoid mentioning debt-fueled stimulus, “non-essential workers”, supply chain disruptions and energy policies to account for the out-of-control inflation plaguing the economy.
“There’s no doubt that changes in weather patterns are impacting our food supply,” claimed Jennifer Bartashus, a senior analyst at Bloomberg Intelligence who covers retail staples and packaged food.
Robert Yawger, an executive director of energy futures at Mizuho Securities, also fingered climate change: “In the past, it wasn’t that there was a climate catastrophe rallying everything at once. I’ve never seen anything like this—where everything is bid to the moon at the same time.”
The Biden administration is currently overseeing the largest spike in consumer inflation since 2008. Statistics released last week showed that consumer prices rose 5.4 percent compared to a year earlier.
Producer prices are even worse, reaching rates that have been seen since the recession of 1982. According to the U.S. Bureau of Labor Statistics, the latest producer price index showed a July year-over-year inflation rate of 7.8 percent, and that almost certainly means even more consumer pain ahead.
At this rate, Jimmy Carter and 1970’s stagflation numbers are in sight.
The CNN story avoided talk of disastrous economic policies that many mainstream media outlets instigated and rooted for as a response to COVID.
Gerald Celente was already warning in April 2020 that misguided COVID policies would end up hurting impoverished peoples the most (see “POLITICIANS CAUSE WORLDWIDE HUNGER CRISIS”).
The COVID War fomented a neurotic response in affluent first world nations. In a food price squeeze, third world countries are paying the highest price.
But COVID virtue-signalers evidently aren’t comfortable confronting the consequences of advocating prolonged mass shutdowns, and paying people with debt-created dollars to sit at home.
Besides the weather, the story did manage to name one more culprit for the food price problem contributing to Joe Biden’s underwater approval numbers: Donald Trump.
“For instance, some food inflation is being caused by a shortage of workers, including in the agricultural sector amid the pandemic and Trump administration’s crackdown on immigration.”