Tag: economy

Demand At Food Banks Has Soared To Record Levels All Over The United States

Why is demand at food banks all over the country higher than it has ever been before?  The media keeps insisting that economic conditions are just fine, but it has become quite obvious to everyone that this is not true.  In particular, the rising cost of living has been absolutely crushing households from coast to coast.  In the old days, most of the people that would show up at food banks were unemployed.  But now food banks are serving large numbers of people that actually do have jobs but that don’t make enough to pay for all of the basics.  The ranks of the “working poor” are growing very rapidly, and this is creating an unprecedented crisis all over America.

Perhaps you think that I am exaggerating.

Let me share some specific examples that will prove that I am not.

In Pennsylvania, the Greater Pittsburgh Community Food Bank saw “its highest need on record this past year”…

A new report shows the Greater Pittsburgh Community Food Bank saw its highest need on record this past year. It comes as we mark Hunger Action Month across the country.

Toi Payne of Pittsburgh’s Allentown neighborhood gets emotional thinking about how the Greater Pittsburgh Community Food Bank in Duquesne and other local pantries have been lifesavers for her for the past 30 years.

“We need these places,” Payne said. “Without the food banks, I think a lot of people would be struggling even more, you know, and it helps like the elderly and people like me that’s on disability.”

We are also seeing record demand in Montana…

North Valley Food Bank in Whitefish served 613 families a Thanksgiving meal – a record high.

They anticipate more than 1,000 food bank customers for their Christmas holiday distribution on December 18-19.

“Year round here we’re feeding over a 1,000 of our neighbors every week and the need goes up during the holiday season,” said North Valley Food Bank Director of Development Mandy Gerth.

And in the San Francisco area…

This holiday season, food banks say they’re facing greater need than ever before. In Silicon Valley, they say 1 in 6 people are coming in for food assistance. In San Francisco, that number is 1 in 5. But the organizations say donations are not keeping up with demand.

For all the food banks, December is a big month. Both in terms of need, and in terms of fundraising. And they say what happens now will impact the entire year ahead.

In some parts of the nation, food banks are absolutely shattering all of the old records.

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Global Food Prices Are Entering Very Dangerous Territory

What in the world is going to happen if global food supplies continue to get even tighter?  During the second half of this year global food prices have been surging.  A “perfect storm” of factors is suppressing production all over the planet, and meanwhile worldwide demand for food just keeps rising.  Needless to say, higher prices hurt those at the bottom of the economic food chain the worst.  Food prices have become a major issue in country after country, and if current trends continue it won’t be too long before widespread unrest breaks out.  Here in the United States, the cost of living is absolutely eviscerating the middle class.  If a way cannot be found to stabilize food prices, we will be seeing a tremendous amount of anger and frustration in 2025 and beyond.

Last week, it was being reported that global food prices had risen to “the highest level in 19 months”…

The world food price index, compiled by the U.N. Food and Agriculture Organization (FAO) to track the most globally traded food commodities, increased to 127.5 points last month from a revised 126.9 points in October, the highest level in 19 months and up 5.7% from a year ago.

The vegetable oil index jumped 7.5% above levels seen a month ago and 32% above those seen a year earlier, driven by concerns over lower-than-expected palm oil output due to excessive rainfall in Southeast Asia.

Clearly, things are not heading in the right direction.

But what could be coming next is potentially even more alarming.

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Unsustainable: Yellen resigns, leaving behind over $36 TRILLION in debt — the highest in U.S. history

The federal deficit has reached unsustainable levels, with the U.S. national debt surpassing $36 trillion, largely due to reckless fiscal policies under the Biden administration.

– Treasury Secretary Janet Yellen acknowledged concerns over the lack of progress in reducing the deficit, admitting that the deficit needs to be brought down amid rising interest rates.

– The Biden administration’s fiscal approach, including $3 trillion in economic stimulus, led to runaway inflation and a ballooning deficit, with interest expenses now exceeding defense and health spending.

– The incoming Trump administration, with Treasury Secretary nominee Scott Bessent, aims to prioritize fiscal responsibility, focusing on reducing government spending, reforming entitlement programs, and promoting sustainable economic growth.

– The U.S. faces an urgent need to address its fiscal crisis to avoid a future debt crisis, with the Trump administration tasked with restoring fiscal sanity and rebuilding public trust in responsible financial management.

As the Trump administration prepares to take the reins of government, the nation faces a stark and urgent reality: The federal deficit has ballooned to unsustainable levels, threatening the long-term stability of the U.S. economy. The outgoing Biden administration, led by Treasury Secretary Janet Yellen, leaves behind a staggering national debt that has surpassed $36 trillion, a figure that underscores the reckless fiscal policies of the past several years.

Yellen herself has acknowledged the gravity of the situation, expressing concern over the lack of progress in reducing the deficit. During a recent event organized by the Wall Street Journal, she stated, “I am concerned about fiscal sustainability and I am sorry that we haven’t made more progress. I believe that the deficit needs to be brought down, especially now that we’re in an environment of higher interest rates.” These words, though belated, are a stark admission of the fiscal irresponsibility that has characterized the Biden administration’s tenure.

The numbers tell a damning story. Under Yellen’s watch, the U.S. debt increased by an astonishing $15.2 trillion, representing 42% of all U.S. debt ever issued. This unprecedented accumulation of debt was facilitated by years of ultra-low interest rates and massive government spending, much of it aimed at pandemic relief and economic stimulus. While these measures may have provided short-term relief, they have sown the seeds of a future financial crisis.

The Biden administration’s approach to fiscal policy was marked by a dangerous overconfidence in the ability of government spending to solve economic problems. Yellen, in her role as Treasury Secretary, endorsed the administration’s 3 trillion in economic stimulus, including the 1.9 trillion American Rescue Plan. She justified this approach by arguing that “the smartest thing we can do is act big. In the long run, I believe the benefits will far outweigh the costs.” However, the reality is that this strategy has led to runaway inflation and a ballooning deficit, with interest expenses now surpassing defense and health spending.

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Laughable: Biden Claims Trump Is Inheriting A Strong Economy

During a speech at the Brookings Institution in Washington D.C. Tuesday, Joe Biden claimed that the US economy has been a “success” under his administration.

“Most economists agree the new administration is going to inherit a fairly strong economy,” Biden ridiculously claimed.

He added, “It is my profound hope that the new administration will preserve and build on this progress.”

What the hell is he talking about?

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Huge Small Biz Break: Judge Suspends Enforcement Of FinCEN Reporting Requirement

Just a few weeks before a poorly publicized Jan. 1 deadline, a judge has issued a nationwide injunction barring the enforcement of a controversial mandate that would compel tens of millions of small and large businesses to file beneficial ownership reports with an obscure federal agency. The ruling doesn’t kill the requirement altogether, but it does bar the Treasury Department from enforcing it until lawsuits challenging the requirement’s constitutionality are fully resolved.

“There are now CTA cases pending in the Fourth, Fifth, Ninth, and Eleventh Circuits,” notes attorney and Forbes contributor Kelly Phillips Erb, posting as @taxgirl on X. “It’s looking more like it could end up at the Supreme Court.” There’s also the possibility that the next Trump administration — either unilaterally or via cooperation with Congress — could find a way to kill or at least narrow the requirement.

The rule imposed by the Corporate Transparency Act (CTA) swept the vast majority of “legal entities created to do business in the United States” into a new bureaucratic net, directing them to dump information about themselves and their “beneficial owners” into a federal database managed by the Financial Crimes Enforcement Network (FinCEN) — which most Main Street businesses and single-member LLC’s have probably never even heard of. Those who failed to comply faced severe penalties, ranging from civil fines of up to $591 a day to criminal consequences of up to $250,000 and a five-year prison term.

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Bidenomics: A Million Fewer Native-Born U.S. Workers Since Last Year

Just between November 2023 and November 2024, more than one million fewer native-born Americans were employed. The Biden-Harris economy is horrible for American citizens, and all the net job growth so touted by Democrats has gone to foreign-born workers, including an unknown number of illegal aliens.

Thank God Donald Trump is coming back into office, because American workers badly need a president and administration interested in protecting and promoting their interests rather than in bringing in the largest number of illegal aliens willing to work for low wages. Job numbers for November 2024 have come out from the Bureau of Labor Statistics (BLS) and they tell a sobering tale about how American workers have actually lost jobs, not gained them, in total contradiction of Democrat propaganda.

Heritage Foundation economist E.J. Antoni shared a chart from the BLS on Dec. 6, explaining, “There are now 1.1 million fewer native-born Americans employed than a year ago; all net job growth has gone to foreign-born workers, totally just over 400k since Nov ’23”. The BLS chart shows the major drop for “Native Born” workers and the rise in “Foreign Born” workers’ employment.

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Russia Using Nuclear Weapon in Ukraine Would Collapse Global Economy, Warns Declassified Intel Document

The use of a nuclear weapon by Russia in Ukraine would plunge the global economy into chaos, leading to food insecurity and high inflation, according to a declassified national security document.

The National Intelligence Council’s (NIC) memorandum from November 2022, titled “Potential Global Economic Consequences of a Use by Russia of Nuclear Weapons in Ukraine,” was declassified by Director of National Intelligence Avril Haines in September.

The NIC, established in 1979, reports to the Office of the Director of National Intelligence and bridges the Intelligence Community with policy makers in the United States.

Unsurprisingly, the document states that a nuclear attack on Ukraine would trigger long-term global financial instability, push emerging markets into default, and lead to food insecurity.

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Angry Leftists Plot to Tank Trump Economy by Not Spending Any Money Once He’s in Office

Some leftists are so spiteful over the outcome of the election that they’re planning to not spend any money once Trump is sworn in as president.

Most people are expecting the economy to improve under Trump and these people don’t want that to happen, or at least don’t want Trump to get any credit for it.

They would rather that people remain miserable than see Trump and the country do well.

Breitbart News reports:

Leftists Pledge to Load Up on Supplies Before Biden Leaves Office, Buy Nothing ‘for the Next Four Years’ to Tank Trump Economy

Leftists have a master plan to ensure that President-elect Donald Trump’s economy tanks: They are not going to buy anything.

Leftists across the country are still reeling from Trump’s historic comeback victory, which saw him sweeping all seven swing states, garnering 312 electoral votes and also winning the popular vote after making historic gains in traditionally blue areas.

There was a sizable shift in the electorate and a clear mandate for change, but some leftists ardently disagree and have a plan to tank what everyone anticipates to be a strong economy under Trump’s leadership.

“Trump will not have a good economy because we don’t have to let him. I myself plan on paying my bills and saving every penny beyond that. I will not contribute to this economy in any other way,” one leftist X account with the handle @PrezLives2022 said to 127.1K followers, previewing plans to strategically purchase clothing “before he takes office and make sure I have everything I need for the next four years.”

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Shrinkflation Nation: The Hidden Price Hike in Your Shopping Cart

If you’ve ever wondered whether that family-size cereal box is getting a little less family-friendly, you’re not alone. A report from Purdue University confirms what eagle-eyed shoppers have long suspected: our groceries are going on an unprecedented diet. In fact, over three-quarters of American consumers report noticing their favorite food products shrinking while prices stay the same. This practice, known as “shrinkflation,” has become increasingly prevalent in grocery stores across the nation, with snack foods being the primary culprit of this subtle downsizing strategy.

The October 2024 Consumer Food Insights report, conducted by Purdue University’s Center for Food Demand Analysis and Sustainability (CFDAS), found that 77% of consumers have noticed shrinkflation in their grocery purchases over the past 30 days. The findings paint a picture of widespread awareness among shoppers, though many may still be missing the signs of this stealth price increase tactic.

Snack foods lead the pack as the most commonly noticed category affected by shrinkflation, with 78% of respondents reporting smaller portions in their favorite treats. Following closely behind are packaged desserts and sweets at 53% and frozen foods at 48%. The trend appears to be particularly noticeable to households with children, who report seeing shrinkflation across a broader range of product categories compared to households without children.

While consumers are becoming increasingly aware of shrinkflation, they may not be equipped to detect it effectively. The study revealed that while 82% of shoppers regularly check the overall price of items they’re buying, only about half consistently check the unit price or product weight – key indicators that would help spot shrinkflation in action. This disconnect between price awareness and size awareness may explain why many instances of shrinkflation go unnoticed until the change becomes obvious.

“A variety of factors may influence a producer’s decision to downsize a product’s size, such as rising costs in the supply chain and inflationary pressures,” explains the report’s lead author, Joseph Balagtas, a professor of agricultural economics at Purdue and director of CFDAS, in a media release. “The goal is to better understand how consumers perceive these reductions and if they have noticed them happening at all.”

The research team put consumers to the test with a theoretical scenario: Would they prefer their favorite snack to maintain its current price of $3.00 but decrease from 6 ounces to 5 ounces, or keep the 6 oz size but increase to $3.60? Interestingly, despite the identical unit price in both scenarios, 53% of respondents chose the size decrease over the price increase. This preference suggests that psychological factors may be at play in how consumers perceive and react to different types of price adjustments.

The study also uncovered strong feelings about corporate transparency when it comes to shrinkflation. Three-quarters of consumers believe companies should be legally required to clearly label when products have been reduced in size or quantity. Many view shrinkflation as a profit-driven strategy rather than a necessary response to rising costs, with a majority agreeing that companies use it to increase profits even when cost pressures aren’t present.

This skepticism appears to have potential consequences for brand loyalty. A significant portion of consumers reported being less likely to trust brands that practice shrinkflation, and many indicated they would switch to different brands if they noticed their regular products shrinking. This suggests that while shrinkflation might help companies maintain profit margins in the short term, it could risk damaging customer relationships in the long run.

“It is interesting yet not entirely surprising to see this sentiment as articles about grocery prices, accusations of corporate greed and shrinkflation continue to circulate in popular news media,” notes Balagtas.

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Tax Cuts Without Spending Cuts Won’t Reduce the Taxpayers’ Burden

As this election cycle has demonstrated yet again, Democrats are not shy about calling for tax increases. In every election cycle they call for more taxes, whether through corporate taxes or through taxes on unrealized capital gains.

Donald Trump, meanwhile, has pledged to cut some taxes. I say “some” because Trump has also pledged to raise taxes on imports.

Nonetheless, Trump ran on the idea that he would reduce the tax burden on Americans if elected.

Unfortunately, Trump has no plans to cut government spending, and this means there is little chance that ordinary taxpayers are going to experience any real tax relief.

This is because tax cuts without spending cuts don’t actually lessen the cost of government. A tax cut without a spending cut simply moves around the tax burden, and often replaces explicit taxation with the stealth tax of price inflation.

Unless accompanied by spending cuts, a tax cut simply increases deficit spending, and taxpayers will pay for deficits one way or another. Typically deficits are paid for using one or more of the following: future taxes, present interest payments, and monetary inflation. Unfortunately for the taxpayers, when it comes to paying off deficit spending, “the future” is already here. In the 2024 fiscal year, the taxpayers had to pay nearly $900 billion in interest on the debt. That huge tax bill exists because federal politicians in the past spent more than they had in revenues.

Forcing the taxpayers to pay off old debts isn’t exactly popular, however. So, federal technocrats have found a way to push down interest rates on government debt. This reduces the amount of interest owed and nominally reduces the cost of government debt.

But this also ends up costing the taxpayers bigtime because the way that technocrats suppress the cost of interest is by having the central bank buy up more federal debt. (By buying government debt, the central bank artificially drives up demand, so the Treasury doesn’t have to pay as much in interest to attract buyers.) And where does the central bank get the money to buy up government debt? It prints the money. That then leads to both monetary inflation and (eventually) price inflation.

So, tax cuts that increase deficits only end up placing new and different burdens on the taxpayers. They’re not a real tax cut at all.

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