People Will Be Insane When Food Prices Double Or Triple From Current Levels

Well, that was quite a surprise. We just got confirmation that inflation is picking up steam once again. That's concerning news, because the cost of living has already been putting pressure on people nationwide. In fact, one recent survey found that 86 percent of Americans are stressed about grocery prices. But it's not just food costs that are climbing. We're getting hit with double-digit price increases across the board, and that's having serious consequences. Our standard of living is taking a hit month after month, and the middle class continues to shrink.
.
On Thursday, we learned that the producer price index, which measures final demand goods and services prices, jumped 0.9% for the month, compared with the Dow Jones estimate for a 0.2% gain. It was the biggest monthly increase since June 2022. Excluding food and energy prices, core PPI rose 0.9% against the forecast for 0.3%. Excluding food, energy and trade services, the index was up 0.6%, the biggest gain since March 2022.
.
Such a large change in one month was pretty unexpected.
.
Right now, electricity prices are climbing from coast to coast. For example, New Jersey residents just got hit with price hikes of between 17 and 20 percent... Air conditioning is rapidly becoming a luxury item. Not everyone will be able to afford it anymore.
.
Beef has also become a luxury, and it's being reported that last month the price of beef hit yet another new all-time high... I'm a meat and potatoes kind of guy, and so this really bothers me. When I see the prices that supermarkets are charging us now, it's pretty shocking.
.
Health insurance premiums are already way out of control.
And now they want to hit us with double-digit increases again?
.
This is the reality of the economy that we live in now.

In this environment, even sending your kids to summer camp can put you deep into debt...
.
Today, most of the country is living paycheck to paycheck.
And now that economic conditions are slowing down, we're seeing foreclosures start to spike just like we did in 2008 and 2009. Sometimes it feels like we're all playing a very challenging game of musical chairs. Every time the music stops, more seats are being removed and more people fall out of the middle class. If you still have your seat in the middle class, hold on to it tightly, because tougher times may be ahead.
.
I've been warning for years about the damage that was being done to the middle class.
.
And let's be honest about what's happening in the job market. When college graduates with technical degrees are applying to 900+ jobs and still can't find work, something is seriously wrong with the economic picture we're painting.
.
The foreclosure uptick in places like Las Vegas should be a warning sign. We've seen this movie before, and it didn't end well. When people start losing their homes because they can't keep up with payments, that's usually a sign that broader economic troubles are brewing.

Source: https://www.youtube.com/watch?v=Y7RWt3srFhg