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 national average price for a gallon of gas is projected by Sunday to top $4.80, twice as much as the day President Biden took office.
- The average price on Friday was $4.78 and market analysts expected it to tick up at least 2 cents over the weekend.
- Mr. Biden warned Americans that inflation across the economy is — at least for now — here to stay.
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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:
- Americans Will Never Forget The Historic Economic Collapse During Joe Biden’s Presidency
- At this stage, the balance between supply and demand has reached a crisis point for all traditional forms of energy simultaneously…
- We have never faced anything like this before, and one industry insider is referring to this as a “perfect storm”…
- In case you didn’t get the point of what he was saying, “large supply gaps” is a politically correct way of saying “widespread shortages.”
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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:
- Majority of U.S. Voters Say Their Financial Situation is Worsening
- The majority of registered U.S. voters say their financial situation is worsening, according to a recent Harvard CAPS/Harris poll. 56% of respondents told the pollster that things are “getting worse” from a financial standpoint. Just 20% said their financial situation was improving.
- This is a devastating finding that has been climbing month after month — no matter how they are actually doing, a solid majority believes now they are becoming worse off economically and that is America’s most critical read on the mood of the voters,” said Mark Penn, the co-director of the Harvard CAPS/Harris Poll.
- Gas and food prices have also surged to near historic highs. As of Tuesday, the national average price for a gallon of gas has hit $4.598, according to AAA
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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:
- Biden administration cancels Alaska oil and gas lease sale
- The Biden administration has canceled one of the most high-profile oil and gas lease opportunities pending before the Interior Department. The decision, which halts the potential to drill for oil in over 1 million acres in the Cook Inlet in Alaska, comes at a challenging political moment, when gas prices are hitting painful new highs.
- The department also halted two leases under consideration for the Gulf of Mexico region because of “conflicting court rulings that impacted work on these proposed lease sales.”
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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:
- Diesel fuel is in short supply as prices surge — Here’s what that means for inflation
- Diesel fuel is in short supply as demand rebounds following the pandemic, while supply remains tight.
- Prices have surged to record levels, adding to inflationary concerns across the economy.
- The problem is especially acute on the East Coast, where prices have become “unhinged,” according to one analyst.
- “Diesel is the fuel that powers the economy,” said Patrick De Haan, head of petroleum analysis at GasBuddy
- Higher prices are “certainly going to translate into more expensive goods,” said De Haan.
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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:
- Inflation Nation: Gas Hits New Record High as Cost of Living Soars to Crisis Levels
- According to AAA, the national average for a gallon of regular gasoline is hitting a new record high at $4.37, up 23 cents from last month. Some analysts predict an average price as high as $4.50 by summer.
- And it’s not just fuel.
- According to the latest Consumer Price Index report, food-at-home prices have risen 10 percent in the last 12 months, marking the largest 12 month increase since 1981. Prices for meat and eggs increased more than 13 percent over the last year, while beef rose 16 percent. What’s more, the USDA predicts grocery store prices will jump another five to six percent this year.
- On Wall Street, stocks deepened their losses Monday, sending the S&P 500 to its lowest close in more than a year.
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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:
- Inflation Nation: Experts warn rising prices are here to stay
- President Biden, press secretary Jen Psaki, and U.S. Treasury Secretary Janet Yellen all suggested last year that inflation would be temporary.
- Biden was spotted laughing Saturday at the White House Correspondents Dinner when comic Trevor Noah joked that he didn’t get why the president got so much criticism, since under him everything is “up.”
- “You know, I think ever since you’ve come into office, things are really looking up. Gas is up. Rent is up. Food is up. Everything,” Noah said.
- Billionaire investor David Rubenstein; however, said that Americans should be worried about inflation. Inflation, as we all know, when it gets in the system, it’s very hard to get it out. It takes a long time to get it out, can take a couple of years,”
- The Milken Institute chief economist Bill Lee predicted inflation would be “well over 3.5%” for the next five years, after which he said it would begin to wane.
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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:
- From Pakistan to Peru, soaring food and fuel prices are tipping countries over the edge
- Now, more than a decade after the Arab Spring, global food prices are soaring again. They had already reached their highest level on record earlier this year as the pandemic, poor weather and the climate crisis upended agriculture and threatened food security for millions of people. Then came Russia’s war in Ukraine, making the situation much worse — while also triggering a spike in the cost of the other daily essential, fuel.
- The combination could generate a wave of political instability, as people who were already frustrated with government leaders are pushed over the edge by rising costs.
- In Sri Lanka, protests have erupted over shortages of gas and other basic goods. Double-digit inflation in Pakistan has eroded support for Prime Minister Imran Khan, forcing him from office. At least six people have died in recent anti-government protests in Peru sparked by rising fuel prices. But political conflict isn’t expected to be limited to these countries.
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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 in Germany, flour in Greece, sunflower oil in Spain: European countries take steps towards rationing as the war in Ukraine adds to the global supply crunch
- Russia’s invasion of Ukraine has threatened the supply of critical commodities in Europe and thrown global supply chains, which were already struggling amid COVID-19, into complete chaos.
- Germany pulled the first lever on its three stage emergency plan to conserve its natural gas supply on Wednesday, fearing a potential showdown with Russia over gas flows.
- The move came after Russian President Vladimir Putin demanded natural gas payments in Russian rubles last week, twisting the West’s sanctions against itself.
- Four Greek supermarket chains—AB, Sklavenitis, Kritikos and My Market—have also started rationing critical food products including flour and sunflower oil after the war in Ukraine caused a supply crunch in the nation
- Sporadic shortages of products like eggs, milk, and other dairy products also hit Spain since the war in Ukraine began. And major supermarkets including Mercadona and Makro began rationing sunflower oil earlier this month.
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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:
- Inflation Reaches New High as Consumer Prices Jump 7.9%, Highest in Four Decades
- The Department of Labor said that the consumer price index rose 7.9 percent compared with a year ago. Prices were up 0.8 compared with the prior month.
- This is the ninth straight month of inflation above 5 percent. Prices rose at an annual rate of 7.5 percent in January, jumping 0.6 percent from December.
- Compared with a year ago, core prices were up 6.4 percent, the fastest pace for this measure since August 1982.
- Surge in oil and gasoline prices. Those are likely to push inflation even higher in March.
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