Government, inflation, and immigration... Oh my!
Hello Financial Healers,
According to Gallup’s recent poll, Americans are stressed out about the economy.
Wait. Really?!
Here are the 3 main issues pollsters identified:
1) Government/poor leadership
2) Inflation/high cost of living
3) Immigration
Here’s the full list: 👇
It’s good to see pollsters are aware of the economic crisis. But surprisingly, 15% suggest that the economy is “Good.”
Really?!
Let’s look at food prices…
According to federal officials, “certain… foods… are marked up as much as 20% year-over-year, with prices forecasted to continue to spike well into 2022.”
Certain grocery items are experiencing “above-average inflation price hikes over the last year.” Here’s a list:
Beef: 16.2%
Bacon: 18.8%
Chicken: 13.2%
Coffee: 10.5%
Flour and flour mixes: 11.6%
Fresh fruit: 10.6%
Milk: 11.2%
Oils and fats, including peanut butter: Between 11% and 15.6%
The worst part is seeing bacon and coffee. 😭
Now let’s look at energy…
Over the last 12 months, the price of oil has gone down. The Biden Administration flooded the open market with “250 million barrels of oil.” Seemed like a good idea. But…
Now OPEC has announced “a surprise oil production cut of more than 1 million barrels a day, abandoning previous assurances that it would hold supply steady and posing a new risk for the global economy.”
If this happens, inflation will not only rise.
It will soar.
So, to the 15% of pollsters saying the economy is “good.”
I hope you’re ready for an even “gooder” period.
Cause it’s only going to get worse.
So what do we do?
Pray. God is above all authority in heaven and on earth.
He’s superior to poor economics, and He’s seen nations through much worse.
Get smart. Be disciplined with money.
Prove yourself to be a trustworthy steward.
He’ll reward you with more.
Just a reminder… 👇
Join me this week for My Money Time. We meet every Wednesday at 3:30 PM (CA time). It’s a great place to ask questions and meet others pursuing Financial Healing.
Also, we just crossed 500 subscribers! Thanks to everyone who has signed up. Let me know in the comments what subjects you want covered.👇
God bless your Prosperous Soul,
Stephen K. De Silva