If you have a bad feeling about 2022, you are not alone. As we approach the new year, it seems like things are going wrong all around us. We are facing the most epic supply chain crisis in our history, inflation is out of control, vaccine mandates are killing careers and forcing people out of jobs all over the country, and America is the most deeply divided that I have ever seen in my entire lifetime. Meanwhile, another wave of the pandemic appears to be building, our hospitals are already packed with non-COVID patients, global hunger is on the rise, and a major war could erupt in the Middle East at literally any moment. Unfortunately, I am entirely convinced that many of the problems that we are currently dealing with will escalate to an entirely new level in 2022.
For example, if you think that inflation is bad now, just wait until you see what is coming. We just got more evidence that wholesale inflation numbers are absolutely soaring…
New wholesale inflation numbers from September are in and once again prove the rapid increase in prices for everyday items isn’t “transitory” as President Joe Biden has repeatedly claimed.
Wholesale prices rose by 8.6% compared to September 2020, matching the largest increase on record.
The days of relatively low inflation are gone for good. As wholesale inflation numbers continue to spike at a very alarming rate, it is inevitable that these cost increases will be passed along to consumers.