Supermarkets all over the country are stocking up on many of their food items in anticipation of a surge in food prices. Many supermarket executives are warning that the upcoming inflation might lead to some of the highest price increases in recent memory.
Welcome to Insanity Wrap, your daily dose of the best of the worst. President Gaslight’s attempt to get you to stop believing your own lyin’ eyes on food prices is today’s big crazy.
Despite slumping 'hard' data, 'soft' survey data has been trending higher on a bed of soaring prices (well it must be demand), and supplier delivery delays (well it must be demand) providing any and all asset-gatherers and commission-rakers the ammo to confirm the recovery.
Further disregarding inflation will push the global economy to a major crisis, according to the latest report issued by Deutsche Bank economists who point the finger at the US money-printing policies.
Inflation took a fresh swipe at American consumers in May, with the consumer price index surging by 5 percent over the past year, the biggest annual spike in the measure since 2008.
After earlier this week US Secretary of State Antony Blinken somewhat pessimistically portrayed that it remains "unclear" whether Iran is actually willing to restore the nuclear deal, prompting angry words from Foreign Minister Javad Zarif who again pointed out that it's only Washington not in compliance due to Trump-era sanctions which the Biden White House refused to "bury" in order to make a renewed deal possible, Blinken's newest statements are pouring more cold water on all the recent speculation that prematurely hailed a Vienna agreement as imminent.
