Zerohedge described the latest revelations from the September 8th edition of the Federal Reserve Beige Book and predicted an ominous shortage of everything combined with stagflation.
Inflation is no longer the biggest risk, but rather, it’s the same one that citizens of Venezuela and every other socialist paradise on earth are familiar with: unprecedented: widespread shortages of everything.
There was no sign of supply chain and price pressures easing. Worse yet, there’s evidence of full employment being well below pre-COVID.
Between continued surging prices, a downshift in the economy, and widespread labor shortages, the one word that summarizes best what is going on is: stagflation.
It will make Jimmy Carter’s stagflation look like a run through Disneyland. Read the details at Zerohedge.
CANARY IN THE COAL MINE
Recently Kamala said mysteriously, “the stories that we are now hearing about the caution that if you want to have Christmas toys for your children, it might now be might be the time to start buying them, because the delay may be many, many months.”
VP Harris is telling us that the Biden regime believes shortages will last way beyond Christmas.
Supply chain disruptions could be anywhere from 6 to 12 months?
Price hikes will be from 8 to 30 percent by some accounts.
Everything Biden is doing will make it all much worse. Personally, I just waited 10 months for a couch and that’s not bad. Others have waited longer.
Shortages
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On top of general Stagflation, when it comes to the Labor Market, I’m beginning to see Deflation. Recently a local restaurant owner told me he is having a flood of workers applying for jobs. Their Federal benefits ran out and now they will take anything at minimum wage. I needed a new garden shed. I called a contractor I’ve used before and got an excellent price. Part of that was the cost of lumber is dropping, but he also cut his hourly labor cost. Business is obviously slow as I didn’t have to wait, his people were out here the next day.
The problem is that Communist Democrat Liberal Losers don’t understand economics. When business is good, people get raises. Communist see economies as a stagnate sized pie. If the Communist wants to get richer, he thinks he has to take from someone else. A true Capitalist like Trump understands that you can grow the economy and create more wealth. When business is doing good there is competition for employees so wages go up. Democrats don’t understand this. Democrats think everyone else is greedy like they are and will just pocket the profits.
Marxist/Socialist Dystopia.