Costs Rise for Chinese Producers as Their Producer Price Index Climbs 13.5 Percent
This article on production and sales of consumer goods in China has repercussions here in the U.S. as well. With steel and copper prices up 40 percent, yarn and wool prices up 30 percent, and cotton up 50 percent, expects costs to continue to rise in China and in its export markets, including the U.S.
Expect Meat Shortages, Higher Prices
JBS S.A., the world’s largest meatpacker, warned that severe labor shortages in the U.S. will cause meat shortages and higher prices into next year. As if meat wasn’t expensive enough.
COVID-19 Cases Rebound in Parts of U.S.
Just as cases are surging in parts of Europe, they are climbing in parts of the U.S. as well. The Upper Midwest, North East and Mountain West are seeing the highest numbers while Florida, Texas and the South are seeing lower rates. Cases are now growing nationally, pointing towards the possibility of a winter wave.
You should note that this surge is taking place in some of the states with the highest vaccination rates. For example, Vermont, which has the highest vaccination rate in the country, saw cases grow 42 percent in a week. Officials are blaming the waning efficiency and effectiveness of the vaccine.
If COVID bounces back strongly in the U.S., expect those who resist the vaccine mandate to get blamed, expect there to more pressure than ever to vaccinate children, and expect liberal mayors and governors to implement restriction in their cities and states. People who are looking forward to a “normal” Thanksgiving and Christmas may find the Government Grinch is out there working against them.