What did you expect with Covid-induced shortages and too much money chasing too few resources? It’s only going to get worse. Biden’s astute economic policies in the energy sector have resulted in gas going up $.50/gallon and more in some areas. That $300 per household guaranteed minimum monthly income I’ve been hearing about will have the purchasing power of $30 before long. Friends the good old days of $50-60 per flat ammo are in the rear view mirror
I know all this is a shock to the members here, but believe me, NO manufacturer wants to take this large of an increase at all. When the cost of all materials goes up, a manufacturer has a responsibility to make a reasonable profit and stay in business. I have made such statements before when a large price increase occurred in the past (several times) and the reasons are still in place. From my 35 years in the industry, this decision was not take lightly and not intended to 'take advantage' of the current high demand.
All this is just a forward-looking snap shot at what the Finance people see coming. The past 4 years of "Stimulus" money, created out of thin air by the Fed at the urging of the Congress due to the pandemic [caused in part by that very entity, of course], has created debt levels that will surely turn into price inflation in many areas. Surely you all have seen the prices rise for consumer goods, especially some food products, over the past 5 years. Well, the other commodities are now catching up. Look at Corn, now over $5 a bushel and soybeans over $14. Just 6 months ago these two were just a bit over half these amounts.
A long-winded way of saying that your MONEY is not worth as much as it was 5 years ago because of Government over-spending practices. Debts have to be repaid and we are on the hook.
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