Revelations 18:23 ‘For the merchants were the great men of the earth; for by thy sorceries were all nations deceived.’
Important Takeaways:
- Public perception of the economy is the lowest since 2008: More Americans say they trust the GOP to handle issues that hit their pocket, new poll shows
- A new poll shows nearly 7 in 10 Americans feel the economy is ‘getting worse’
- Only 12% saying it is ‘getting better’ under Joe Biden’s leadership
- In 2008, the same polling found 83% thought the economy was getting worse
- Biden has a 37% overall approval on his handling of the economy – the lowest point in the polling since he took office last year
- The only issues where Biden’s approval rating has changed is on gas prices, rising to 34 percent from 27 percent in June. Prices per gallon have dropped by a dollar on average from where they were earlier this summer when the poll was taken.
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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:
- Long lines are back at US food banks as inflation hits high
- With gas prices soaring along with grocery costs, many people are seeking charitable food for the first time, and more are arriving on foot.
- “It does not look like it’s going to get better overnight,” said Katie Fitzgerald, president and chief operating officer for the national food bank network Feeding America. “Demand is really making the supply challenges complex.”
- The Phoenix food bank’s main distribution center doled out food packages to 4,271 families during the third week in June, a 78% increase over the 2,396 families served during the same week last year, said St. Mary’s spokesman Jerry Brown.
- More than 900 families line up at the distribution center every weekday for an emergency government food box stuffed with goods such as canned beans, peanut butter and rice
- The Los Angeles bank gave away about 30 million pounds of food during the first three months of this year
- For now, there’s enough food, but there might not be in the future, said Michael G. Manning, president and CEO at Greater Baton Rouge Food Bank in Louisiana. He said high fuel costs also make it far more expensive to collect and distribute food.
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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 Economic Forum: Gas Prices Must Go Even Higher — to Save Democracy
- Russia’s invasion of Ukraine has brought renewed focus on this economic weakness, the WEF says.
- What is the answer for the U.S. and Europe? Pricing the alternatives to green energy out of the market. It says:
- First, leading democracies should agree to end the underpricing of fossil fuels, which is the principal factor preventing a clean energy transition. The underpricing associated with producing and burning coal, oil and gas amounted to $5.9 trillion in economic costs in 2020. Nearly a quarter of these losses – $1.45 trillion – occurred in 48 major and smaller democracies.
- The leading democracies of the G20 should collectively commit to phasing out cost and tax breaks for the production and consumption of fossil fuels. They should also phase in more efficient pricing of fossil fuels through taxes or tradable permits to cover the costs of local air pollution, global warming, and other economic damages.
- The paper goes on to argue that compliance can and must be enforced.
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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:
- US families should suffer high gas prices to protect ‘the liberal world order,’ Biden’s economic advisor Brian Deese says when asked what he would say to Americans who can’t afford to pay $4.85 a gallon
- The American people understood. The American people rose to the moment. The American people did what they always have done: defend freedom around the world. They chose to stand with the people of Ukraine,’ Biden said during a speech calling for a three-month gas tax holiday. ‘So for all those Republicans in Congress criticizing me today for high gas prices in America, are you now saying we were wrong to support Ukraine? Are you saying we were wrong to stand up to Putin? Are you saying that we would rather have lower gas prices in America and Putin’s iron fist in Europe? I don’t believe that.’
- After breaching $5 a gallon for the first time ever, gas prices have fallen back to an average of $4.84 as of Friday
- Biden economic advisor Brian Deese said that Americans should ‘stand firm’ on paying record-high gas prices because the ‘future of the liberal world order’ is more important.
- ‘What you heard from the president today was a clear articulation of the stakes. This is about the future of the Liberal World Order and we have to stand firm,’ he replied
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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:
- Trucking industry faces driver shortage fueled by high gas prices
- As gas prices continue to rise around the country, some truck drivers are putting it in park.
- Transportation consultant Mickey Blashfield said there is a nationwide shortage of about 100,000 truck drivers.
- When you factor in fewer drivers available to deliver the fuel, then the problem becomes even worse.
- Trucker David Rofa said “I have friends, their trucks are sitting in the yard. They can’t go out because the prices are too high, and the loads are still paying the same”
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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:
- Gas prices surge 25 cents in a week, hitting new record
- There are now 10 states where the average price of gasoline is $5 a gallon or higher, with the latest being Michigan and Indiana. Washington, DC, is also above $5, according to CNN.
- Georgia is the only state with an average below $4.30 a gallon.
- Veteran oil analyst Andy Lipow told CNN he expects the national average to hit $5.05 a gallon in the next ten days.
- US crude jumped to a fresh three-month high of $120.99 a barrel
- Mark Zandi, chief economist at Moody’s Analytics “If oil prices go to $150, we are going into recession. There is no way out”
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Rev 6:5, 6 NCV When the Lamb opened the third seal, I heard the third living creature say, “Come!” I looked, and there before me was a black horse, and its rider held a pair of scales in his hand. Then I heard something that sounded like a voice coming from the middle of the four living creatures. The voice said, “A quart of wheat for a day’s pay, and three quarts of barley for a day’s pay, and do not damage the olive oil and wine!”
Important Takeaways:
- The average price has risen 8.1 cents over the past six days
- The price of a barrel of front month crude on ICE Futures Europe increased $2.04 Monday to settle at $117.60, its highest amount since March 23.
- Crude oil costs account for slightly more than half of the pump price
- The national average price rose three-tenths of a cent to a record $4.622. The national average has set records 19 of the past 22 days.
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Rev 6:5, 6 NCV When the Lamb opened the third seal, I heard the third living creature say, “Come!” I looked, and there before me was a black horse, and its rider held a pair of scales in his hand. Then I heard something that sounded like a voice coming from the middle of the four living creatures. The voice said, “A quart of wheat for a day’s pay, and three quarts of barley for a day’s pay, and do not damage the olive oil and wine!”
Important Takeaways:
- Rising gas prices and inflation top travel concerns, overtaking Covid, survey finds
- According to a survey, 69% of Americans plan to travel this summer, but rising gas prices and inflation now top their list of concerns, overtaking Covid.
- The national average for unleaded gas hit another new high Tuesday.
- Gasoline prices have run up sharply heading into the peak summer driving season and show no signs of slowing down.
- Analysts say gasoline prices usually peak by mid-May, but this year prices at the pump could continue to rise into July and reach about $5 a gallon or more.
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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:
- New Bern mothers search for relief as baby formula shortage worsens
- It started with a voluntary recall from Abbott Nutrition, the largest infant formula manufacturer in the country, involving three types of infant formula in February. Four babies became sick with bacterial infections after consuming the products. Two of the infants died in late 2021 and early 2022, according to the Food and Drug Administration.
- Two months later, stores across the country began reporting shortages and outages of baby formula.
- Because of supply chain shortages, consumers were already seeing a limited supply of baby formula products on the shelves. Nearly 40% of popular baby formula brands were sold out at retailers across the country at the end of April, according to USA Today – worsening a 31% shortage two weeks prior to the recall.
- As the supply of baby formula continues to worsen, mothers in New Bern say they are searching far and wide to ensure they can properly feed their children. So much so that some mothers are asking others if they are selling their breast milk.
- Coupled with the high gas prices, Carter said it’s like a double-edged sword where you can’t find basic things for your child while wasting gas money looking for necessities.
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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:
- Gas prices hit $4 a gallon in all 50 states for the first time
- For the first time, gas prices in all 50 U.S. states have hit an average of at least $4 per gallon, according to data from AAA
- The elevated national average gas price could signal higher highs ahead of the summer travel season.
- And it’s not just the U.S. Gas prices in Canada also hit an all-time high this week, reaching $2 per liter for the first time, GasBuddy said.
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