It’s been about 16 months since The Rona first reared its ugly head and you wouldn’t be able to tell it by looking at the markets. The S&P 500 is up +30% and the NASDAQ up +55% from the day the news first broke. The effects of the pandemic on the global economy were devastating by any measure. The trillion-dollar travel industry was all but decimated for over a year, debt has increased and wages reduced, and supply chains went haywire. Ignorance is bliss, as America’s media companies, the cheerleaders of divisiveness, are consumed with everything except what’s important – like this chart:
Bloomberg put out a piece yesterday titled “The Grocery Price Shock Is Coming to a Store Near You” which talks about how their Agriculture Spot Index (seen above), which tracks key farm products, is surging, leading a senior food economist at the U.N to exclaim “there seems to be sort of a bullish force behind the prices internationally.” It hardly comes as a surprise for those who witnessed firsthand how food producers in the U.S. were throwing away food or letting it rot last year because of supply
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