Michael Snyder: Watch for these trends to increase through 2022

Rev 6:6 NAS “And I heard something like a voice in the center of the four living creatures saying, “A quart of wheat for a denarius, and three quarts of barley for a denarius; and do not damage the oil and the wine.”

Important Takeaways:

5 Major Trends To Watch For During The Second Half Of 2022

  • 1 Economic Shaking
    • Based on the latest reading from the Atlanta Fed’s GDP Now model, it appears that the U.S. economy has already plunged into a recession. I expect the U.S. economy to continue to deteriorate as we move toward the end of 2022 but I am actually far more concerned about economic conditions in Europe.
    • Once the EUR/USD drops below parity, I think that the dominoes in Europe are going to start falling fairly rapidly.
  • 2 Widespread Famines
    • The head of the UN has publicly warned us that we are moving into an “unprecedented global hunger crisis”, and people are already starting to drop dead from starvation in some parts of eastern Africa.
    • There simply is not going to be enough food for everyone, and that is going to cause enormous societal stress all over the globe in late 2022 and beyond.
  • 3 More War
    • The conflict in Ukraine has become extremely bitter and extremely bloody. Unfortunately, it appears that it is not going to end any time soon.
    • I believe that China is planning on invading Taiwan while Joe Biden is still in office.
    • The IAEA is now telling us that Iran “possesses enough fissile material to construct a nuclear bomb”, and that is a threshold that Israel always said that they would never allow the Iranians to cross.
  • 4 Pestilences
    • We already have COVID.
    • We are also dealing with a nightmarish bird flu pandemic which has killed tens of millions of our chickens and our turkeys.
    • On top of everything else, the number of Monkeypox cases continues to rise at an exponential rate.
    • We have entered an era when mad scientists all over the globe are monkeying around with the deadliest bugs that mankind has ever known.
  • 5 Geophysical Shaking
    • There have been unusual earthquakes in diverse places such as South Carolina, and the sun has been behaving strangely in recent days, but overall things have been relatively quiet.
    • Unfortunately, I expect that to change.

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Dissatisfaction in the US is bipartisan. 85% say wrong direction

Rev 6:6 NAS “And I heard something like a voice in the center of the four living creatures saying, “A quart of wheat for a denarius, and three quarts of barley for a denarius; and do not damage the oil and the wine.”

Important Takeaways:

  • Bipartisan dissatisfaction with the direction of the country and the economy
  • The national dissatisfaction is bipartisan. Most Americans, 85%, say the country is headed in the wrong direction. A majority of Republicans have been unhappy with the direction of the country since Biden’s election. Democrats had been positive about how things were going, but now 78% say the country is headed in the wrong direction.

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Mounting pressure on US Economy as wholesale prices rise 10.8%

Rev 6:6 NAS “And I heard something like a voice in the center of the four living creatures saying, “A quart of wheat for a denarius, and three quarts of barley for a denarius; and do not damage the oil and the wine.”

Important Takeaways:

  • Wholesale prices rose 10.8% in May, near a record annual pace
  • The producer price index rose 0.8% for the month and 10.8% over the past year.
  • The monthly gain was in line with estimates and the annual gain was slightly off the record 11.5% hit earlier this year.
  • The data is significant in that prices at the wholesale level feed through to consumer prices.

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52% of Americans said the most important issue facing the country is Inflation

Rev 6:6 NAS “And I heard something like a voice in the center of the four living creatures saying, “A quart of wheat for a denarius, and three quarts of barley for a denarius; and do not damage the oil and the wine.”

Important Takeaways:

  • We Asked 2,000 Americans About Their Biggest Concern
  • At this point, the answer to what Americans are most worried about is pretty straightforward: inflation. In the first FiveThirtyEight/Ipsos poll, 52 percent of Americans said the most important issue facing the country was inflation.
  • We asked Americans this question in a variety of ways, but regardless of how we asked it, the top answer was always the same: inflation.

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Restaurant prices keep increasing some are using stickers on the menu

Rev 6:6 NAS “And I heard something like a voice in the center of the four living creatures saying, “A quart of wheat for a denarius, and three quarts of barley for a denarius; and do not damage the oil and the wine.”

Important Takeaways:

  • Prices Are Going Up So Fast at This Restaurant They’re Using Stickers on the Menu
  • To fathom just how rampant inflation now is in some corners of the US, duck into the Miami River Café, a Mexican place in the city’s East Little Havana district.
  • A quick scan of the restaurant’s Facebook posts lays out the increases. The special, offered every Wednesday and Friday, had been $1 per taco for years. That changed in February of last year, when it was raised to $1.25. A month later, it went to $1.50. This January, it shot up to $1.75. And now it’s $2.00.
  • It’s not the prices on the menu so much that’ll shock you. It’s the fact that the prices were scrawled in pen on stickers slapped on the menu.
  • The last time I saw stickers on menus, I was in Venezuela covering an economy ravaged by hyperinflation.

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Sri Lanka Economic Crisis some calling “A mini Arab Spring”

Rev 6:6 NAS And I heard something like a voice in the center of the four living creatures saying, “A quart of wheat for a denarius, and three quarts of barley for a denarius; and do not damage the oil and the wine.”

Important Takeaways:

  • Sri Lanka’s cabinet has resigned en masse during economic crisis
  • There have been new calls today for both the president and prime minister to step down after the entire Cabinet resigned on Sunday.
  • Shortages of food, medicine and fuel have sparked countrywide protests, and security forces have fired tear gas and water cannons at protesters marching on the president’s home.
  • Vandana Menon, a reporter with The Print, says “I’ve never seen total unity like this before. It’s like a mini Arab Spring in Sri Lanka.”
  • Oh, there’s a huge fuel crisis, and you can see vehicles queuing up at petrol stations. Hospitals have had to stop surgeries last week because of power cuts and shortages of medicines.

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Continued crisis is spiking stress and anxiety across America

Rev 6:6 NAS And I heard something like a voice in the center of the four living creatures saying, “A quart of wheat for a denarius, and three quarts of barley for a denarius; and do not damage the oil and the wine.”

Important Takeaways:

  • Joe Biden’s America: Anxiety Spikes as Americans Report High Levels of Stress Due to Rising Prices
  • Americans are experiencing a spike in anxiety due to rising prices, supply chain issues, and global uncertainty, the American Psychological Association’s annual “Stress in America” poll revealed.
  • The survey found a whopping 87 percent of Americans identifying “rise in prices of every day items due to inflation (e.g. gas prices, energy bills, grocery costs)” as a significant source of stress.
  • 87 percent said that it “feels like there has been a constant stream of crises without a break over the last two years,” and 73 percent say they are “overwhelmed by the number of crises facing he world right now.” Further, 69 percent are worried the Russian invasion of Ukraine will lead to nuclear war, and the same percentage fear these are the beginning stages of a WWIII.

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Sen. Rick Scott: Biden is Considering Turning from Russia to Iran, Venezuela to Save Our Economy

Important Takeaways:

  • Rick Scott: Biden Is Making Iran, Venezuela Our Partners ‘To Save our Economy’
  • Broadcast of CNBC’s “Squawk Box,” Sen. Rick Scott (R-FL) criticized the Biden administration for reportedly looking to boost energy production in Iran and Venezuela and stated that doing so would make the authoritarian Maduro regime and Iran’s dangerous regime partners “to save our economy” and argued that every day America waits to boost domestic energy production
  • ”This idea that we’re going to go do business with Maduro, he’s killing his own citizen[s], or Iran, that wants to kill all the Jews and demolish Israel, we’re going to go — they’re going to be our partner to save our economy? Come on.”

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Mastercard, Visa and Many Other Companies Cut Ties with Russia

Matthew 24:6 “And you will hear of wars and rumors of wars. See that you are not alarmed, for this must take place, but the end is not yet.”

Important Takeaways:

  • Mastercard and Visa cut off Russian banks from their networks: Exodus of foreign firms plunges Russia’s economy into freefall as ruble hits record low and Moscow residents continue scramble for hard currency
  • Visa and Mastercard have blocked multiple Russian banks from their network
  • It means that many Russians awoke Tuesday unable to use their bank cards
  • Everyday Russians have been making runs on banks to withdraw cash
  • The ruble has plunged in value amid punishing Western sanctions
  • Scores of companies are pulling out of Russia in response to Ukraine invasion
    • Other Companies cutting ties with Russia:
      • Adidas
      • BP
      • Dell
      • DHL
      • Disney
      • Ericsson
      • FedEx
      • GM
      • Harley-Davidson
      • HSBC
      • MasterCard
      • Nokia
      • Shell
      • Sony
      • Uber
      • UPS
      • Visa
      • Volvo
      • Warner Bros.

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The Breadbasket of Europe Russia/Ukraine War Escalates Cost at the Store

Rev 6:6 NAS And I heard something like a voice in the center of the four living creatures saying, “A quart of wheat for a denarius, and three quarts of barley for a denarius; and do not damage the oil and the wine.”

Important Takeaways:

  • Russia’s invasion of Ukraine will likely ratchet American food prices even higher, experts say
  • Russia’s invasion of Ukraine could push U.S. food prices even higher, as the region is one of the world’s largest producers of wheat and some vegetable oils. And the disruptions could drag on for months or even years, as crop production in the area could be halted and take a long time to restart.
  • This week’s events “are proof that this will be a multiyear issue,” said Michael Swanson, Wells Fargo’s chief agricultural economist. “It’s my assumption that Ukrainian crops won’t get planted, or not anywhere near what they typically plant. And the Russian crops will be planted but will be embargoed in many markets. This is not something that will be resolved in weeks or months.”
  • “There will be a disruption; there is already a blockade on Black Sea ports,” she said. “In the near term this should have an impact on European Union wheat shipments, then it will have an impact on the U.S.”
  • Ukraine is the world’s fourth-largest exporter of both corn and wheat. It is also the world’s largest exporter of sunflower seed oil, an important component of the world’s vegetable oil supply. Together, Russia and Ukraine supply 29 percent of all wheat exports and 75 percent of global exports of sunflower oil, said Kelly Goughary, senior research analyst Gro-Intelligence, an agriculture data platform.

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