WSJ experts say there’s a 60 percent chance of recession as Americans shell out an additional $72 per month on groceries

Eggs Inflation

Revelations 18:23:’For the merchants were the great men of the earth; for by thy sorceries were all nations deceived.’

Important Takeaways:

  • Average American family is spending $72-a-month more on food due to inflation as experts predict a recession in 2023
  • American families continue to attempt to meet the rising cost of living as inflation continues to plague household budgets
  • The most recent CPI report showed that inflation has slowed considerably since the summer, when the figure capped out at 9.1 percent
  • Despite slowing inflation, however, a group of experts surveyed by the WSJ says there is a greater than 60 percent chance of recession in 2023
  • Moody’s Analytics showed that families are spending an estimated $72 more on food per month than they were a year ago.
  • That figure is pulled out of a report that says the typical US household is shelling out $371 on goods and services more than they were a year ago.

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Texas could experience power outage on Christmas as winter storm brings frigid temps

Luke 21:25-26 “And there will be signs in sun and moon and stars, and on the earth distress of nations in perplexity because of the roaring of the sea and the waves, people fainting with fear and with foreboding of what is coming on the world. For the powers of the heavens will be shaken.

Important Takeaways:

  • Blackouts Could Hit Texas on Christmas as Arctic Blast Threatens Grid
  • Texas suffered a massive power grid failure in February 2021 after three severe winter storms and frigid temperatures stressed the grid. The grid’s failure resulted in millions of Texans losing power, leading to a lack of food, water and warmth. The failure proved fatal, and hundreds died because of the outage. The failure dealt a blow to the economy as well, resulting in a loss of at least $195 billion
  • “The bigger story going forward is the Arctic blast that moves into the west first then pushing east for Christmas,” Panovich tweeted. “The Texas Grid is going to be tested again.”

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As Christmas nears Americans struggle to put food on the table as the CPI sits at near four decade high

Revelations 18:23:’For the merchants were the great men of the earth; for by thy sorceries were all nations deceived.’

Important Takeaways:

  • Nearly 70% of Americans struggling to pay grocery bills, survey finds
  • Food inflation continues to surge
  • Retail technology platform Swiftly reported Wednesday that 69% of shoppers say they are struggling to pay their grocery bills after months of persistently sky-high inflation
  • And 83% currently rely on some form of coupons or loyalty program to put food on the table, according to its True Cost of a Grocery Shop survey.
  • The Labor Department’s latest consumer price index showed prices rose an average of 7.7% on an annual basis in October, hovering near a four-decade high. But the cost of food at home soared 12.4% over the same month a year ago.
  • Some staple items rose by eye-popping amounts, with coffee up 14.8%, cereal up by 16.9%, and eggs up by a staggering 43%.

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Worst Drought in 40 years has Kenya importing genetically modified maize

Luke 21:11 “There will be great earthquakes, and in various places famines and pestilences. And there will be terrors and great signs from heaven.”

Important Takeaways:

  • Kenya to import 1st genetically modified maize amid drought, food shortage
  • Food supply has depleted as Kenya faces its worst drought in 40 years
  • Local media reported that Kenya will on Friday authorize the duty-free importation of 10 million bags of maize over the next six months, and for the first time it will include genetically modified maize.
  • Annual rains have failed across Kenya, Ethiopia and Somalia for the last four seasons, forcing 1.5 million people out of their homes in search of water and food elsewhere.

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Growing global food catastrophe

Caracus Overpopulation

Luke 21:11 “There will be great earthquakes, and in various places famines and pestilences. And there will be terrors and great signs from heaven.”

Important Takeaways:

  • ‘On the way to food catastrophe’: What the growing population means for world hunger
  • The World Food Program warns every night around 828 million people go to bed hungry
  • Since 2019, the number of people facing significant food insecurity has increased from 135 million to 345 million, according to WFP.
  • Meanwhile world population is expected to reach 8 billion this week
  • “We are on the way to a raging food catastrophe,” U.N. Secretary-General António Guterres told world leaders at the G20 Summit in Bali, Indonesia, this week. “People in five separate places are facing famine.”
  • “When you look at the food price crisis, it’s particularly foods that are nutritious and are high in vitamins and minerals that these children need that are the most costly,” Saskia Osendarp, executive director of the Micronutrient Forum
  • “We call this hidden hunger because you don’t immediately notice it, but you do see it in individuals that lack these critical vitamins”

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A shortage of meat in Germany will increase the price on the shelf

Deli Meat Counter

Revelations 18:23:’For the merchants were the great men of the earth; for by thy sorceries were all nations deceived.’

Important Takeaways:

  • German meat industry warns of empty supermarket shelves, another 40% jump in meat prices
  • “That inevitably means there will be less stock in the coming months,” said Kellinger, which could result in consumers seeing more empty shelves but also a significant increase in prices.
  • “Whether that will be 20, 30, or 40 percent cannot be quantified today — but it will increase significantly again,”
  • The current federal government would like to abolish animal husbandry and switch the diet in Germany to vegetables and oatmeal,” he said; he, however, warned that despite ideology from the government, “it’s also a fact that over 90 percent of people in Germany still buy and eat meat.”

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Costs at the store are rising, and companies are acting aggressively in keeping them high

Revelations 18:23:’For the merchants were the great men of the earth; for by thy sorceries were all nations deceived.’

Important Takeaways:

  • Food Prices Soar, and So Do Companies’ Profits
  • A year ago, a bag of potato chips at the grocery store cost an average of $5.05. These days, that bag costs $6.05. A dozen eggs that could have been picked up for $1.83 now average $2.90. A two-liter bottle of soda that cost $1.78 will now set you back $2.17.
  • Over the last year, the price of food eaten at home has soared 13 percent, according to the Bureau of Labor Statistics, with some items spiking even higher. Cereals and bakery goods are up 16.2 percent from a year ago, closely followed by dairy, which has risen 15.9 percent.
  • The cost of eating at restaurants has risen 8.5 percent over the same period.
  • But amid growing concerns that the economy could be headed for a recession, some food companies and restaurants are continuing to raise prices even if their own inflation-driven costs have been covered. Critics say the moves are all about increasing profits, not covering expenses.

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Survey shows 41% of Americans are looking for more hours or side jobs to make ends meet

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:

  • ‘Everyone Is Struggling:’ As Inflation Soars, 41 Percent Need Side Jobs to Help Pay for Monthly Expenses
  • Before prices at the pump and supermarkets started taking off, economists noticed a growing number of Americans putting money toward credit card debt or building their savings.
  • Now, according to a new survey by Bankrate, 41 percent of Americans need a side income just to help pay for monthly expenses from housing to utilities to food.
  • According to Bankrate, inflation is driving more than a third of Americans to increase working hours due to rising prices.
  • 23-year-old Shaina Bourne felt the need to drop out of college due to her tight budget.
  • After becoming a full-time nanny, Shaina soon realized she would need more money to make ends meet. That forced her to turn a hobby into a second job.
  • As the cost of living continued to go up, Shaina then picked up a third job. “The extra money is going towards my immediate bills,” she said. “I’ve gone through my finances over and over and over and it’s like there’s a little extra needed in each place. Whether it is gas or groceries, even rent has actually taken an uptick in the last few months.”

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Bank of International Settlements says were at the ‘tipping point’ to stop runaway 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:

  • World is on ‘tipping point’ of permanently high prices
  • The global economy has reached a “tipping point” where it may be impossible to stop runaway inflation, the world’s top central banker warned, as the war in Ukraine and a US slowdown leaves Britain on the brink of recession.

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If farmers can’t afford diesel there won’t be food in the grocery stores

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:

  • Could a food shortage be coming? Record diesel prices are crushing Pa. farmers, lawmakers told
  • Kotzmoyer told lawmakers diesel is a “huge, huge expense” for farmers. One Cumberland County farmer, he said, works about 3,500 acres with several diesel-consuming tractors and burns though about 2,000 gallons of diesel per month.
  • Average diesel fuel prices Tuesday in Pennsylvania were $6.19 a gallon, about 75% higher than a year ago, according to AAA.
  • Right now consumers are spending an average of $3,000 more a year on food and gas, because of inflation

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