There are few crisis which gets Americans worked up, but this upcoming Labor Day holiday might create a crisis that the President will have to deploy military troops in our suburban paradises to quell.
What is this insane author bitching about tonight?
Think about the inflation initiated starting with the CARES Act, inflamed by the December 2020 Omnibus, piled on with the Fed and Biden printing and spending like drunken sailors, and now culminating President Trump again demanding rate cuts because the cure for high inflation is higher inflation.
So what will set Amurica off and create potential Al Bundy like drunken protests after the middle class American finishes grilling and consuming overpriced beer and burgers?
Okay, maybe I’m joking about 12 month variable rate financing to buy your Five Guys cheeseburger but at least BNPL is available to those wealthy enough to afford the payments; for now.
Live Cattle prices have just hit another all time high today and that isn’t good because Americans love their steaks and burgers.
It’s not just Trump and the Fed’s policies, it was the horrid mismanagement of America’s agriculture policies with the senile old guy that may or may not still walking around the beaches of Delaware for an upcoming hurricane with a wife that does not care.
The reality is that this disaster is hitting average American’s harder and harder. When a 1 pound chub of 73/27 ground beef is $5.44 at the local Walmart we know that it is only going to get worse.
It’s time to MACA again boys and girls, so support your local rancher and demand the Fed hold strong on rates.
Or we may just start seeing CLO’s (Collateralized Longhorn Obligations) for the beef industry just so Americans can afford to go to McDonald’s.
Live cattle prices went up because of drought in the Midwest a few years back. ranchers had to thin their herds or feed them through the drought. The dollars said "Thin the herds." Herds take SEVERAL YEARS to rebuild. Add to that, the halt to the import of cattle from Mexico because "Screw worm" was found down there, and you've got a perfect recipe for expensive steaks and burgers.
Don't look now, but the same thing is happening to COFFEE! There's drought down in South America right now, so the coffee growers have had to trim back, or "coatrack" their trees; shrubs, actually. It'll take YEARS for those plants to produce again, and that only AFTER the drought ends. Already, the same can of Folgers coffee I paid $7.00 for pre-COVID is costing $22.63 at the same store! Buy deep now. It's only going to go up for the time being…