The article included below deals specifically with what may soon be happening in the United States economy, but regardless of where you live, the question posed in the following thread is this: What would you do if food prices doubled within the space of just the next few months? Even if it merely increased by another 50%, what would you do to cope with the increased cost of living, and what would you consider cutting down on if you had to eliminate something, or several somethings? Do you think the scripture that says, "having food and raiment, let us therewith be content" will or should become more applicable in the lives of Christians than it has been in the past?
I ask because it appears food prices in the US may indeed be doubling soon. This is the contention of the following article, published last week in the Epoch Times, where several farmers were interviewed who are now warning that the costs they are presently incurring are going up dramatically, and these costs will of necessity have to be passed on to the consumer by the time their goods hit the market in just a few months.
New Wave of Food Price Hikes Set to Hit Americans This Fall
The inflation consumers have witnessed thus far does not yet reflect the severity of the cost increases farmers are facing today.
By Kevin Stocklin
In its effort to contain inflation, the Federal Reserve has begun what many expect to be a series of interest rate boosts, which are already taking a toll on stock and housing markets, with job losses likely to follow. While Americans grow weary of record-high gas and grocery prices, however, another round of price increases is making its way through the supply chain and is expected to reach consumers this fall.
"People don't realize what's fixing to hit them," Texas farmer Lynn "Bugsy" Allen said. "They think it's tough right now; you give it until October. Food prices are going to double."
The 8.8 percent increase in food prices that Americans have already seen doesn't take into account the dramatically higher costs that farmers are now experiencing. That's because farers pay upfront, and only recoup their expenses at the point of sale, months later.
"Usually what we see on the farm the consumer doesn't see for another 18 months," said John Chester, a Tennessee farmer of corn, wheat and soybeans. But with the severity of these cost increases, consumers could feel the effects much sooner, particularly if weather becomes a factor.
"Nothing that consumers are paying is going to bridge the gap for farmers right now," according to Lorenda Overman, a North Carolina farmer who raises hogs, and grows corn, soybeans and sweet potatoes. "The prices have not hit the grocery stores yet," but she expects they will start to by the end of summer... Higher food and energy prices will leave Americans with less money to spend on other goods, which will reduce demand and create repercussions for the wider economy.
In addressing something related more specifically to the question posed in this thread, the article also went on to state:
Economic reports are indicating that that Americans are already unable to keep up with inflation. Household savings fell to the lowest rate in 14 years, as people struggle to maintain their standard of living. Credit card debt is hitting record highs, and retailers say they are preparing for more consumers to limit their spending to the "bare-bones basics."
My guess is the answer for most (and this of necessity) will be to NOT continue trying to maintain their standard of living but start looking for ways to cut down, and most certainly it will not be to continue going deeper into debt, thinking things will all get better eventually. As scripture states, godliness with contentment is great gain, and this is a truth the modern, prosperous church may have a new appreciation for as we move deeper and deeper into the end-times.
God bless,
Hidden In Him
For those who have not read them, the subject matter discussed above and what to do about it is also dealt with in more detail in the following threads:
Returning To A 19th Century Standard Of Living Soon?
Beware Of Debt Now
I ask because it appears food prices in the US may indeed be doubling soon. This is the contention of the following article, published last week in the Epoch Times, where several farmers were interviewed who are now warning that the costs they are presently incurring are going up dramatically, and these costs will of necessity have to be passed on to the consumer by the time their goods hit the market in just a few months.
New Wave of Food Price Hikes Set to Hit Americans This Fall
The inflation consumers have witnessed thus far does not yet reflect the severity of the cost increases farmers are facing today.
By Kevin Stocklin
In its effort to contain inflation, the Federal Reserve has begun what many expect to be a series of interest rate boosts, which are already taking a toll on stock and housing markets, with job losses likely to follow. While Americans grow weary of record-high gas and grocery prices, however, another round of price increases is making its way through the supply chain and is expected to reach consumers this fall.
"People don't realize what's fixing to hit them," Texas farmer Lynn "Bugsy" Allen said. "They think it's tough right now; you give it until October. Food prices are going to double."
The 8.8 percent increase in food prices that Americans have already seen doesn't take into account the dramatically higher costs that farmers are now experiencing. That's because farers pay upfront, and only recoup their expenses at the point of sale, months later.
"Usually what we see on the farm the consumer doesn't see for another 18 months," said John Chester, a Tennessee farmer of corn, wheat and soybeans. But with the severity of these cost increases, consumers could feel the effects much sooner, particularly if weather becomes a factor.
"Nothing that consumers are paying is going to bridge the gap for farmers right now," according to Lorenda Overman, a North Carolina farmer who raises hogs, and grows corn, soybeans and sweet potatoes. "The prices have not hit the grocery stores yet," but she expects they will start to by the end of summer... Higher food and energy prices will leave Americans with less money to spend on other goods, which will reduce demand and create repercussions for the wider economy.
In addressing something related more specifically to the question posed in this thread, the article also went on to state:
Economic reports are indicating that that Americans are already unable to keep up with inflation. Household savings fell to the lowest rate in 14 years, as people struggle to maintain their standard of living. Credit card debt is hitting record highs, and retailers say they are preparing for more consumers to limit their spending to the "bare-bones basics."
My guess is the answer for most (and this of necessity) will be to NOT continue trying to maintain their standard of living but start looking for ways to cut down, and most certainly it will not be to continue going deeper into debt, thinking things will all get better eventually. As scripture states, godliness with contentment is great gain, and this is a truth the modern, prosperous church may have a new appreciation for as we move deeper and deeper into the end-times.
God bless,
Hidden In Him
For those who have not read them, the subject matter discussed above and what to do about it is also dealt with in more detail in the following threads:
Returning To A 19th Century Standard Of Living Soon?
Beware Of Debt Now
