Scientists and medical authorities are still not certain how big a risk the omicron variant of the Wuhan coronavirus (COVID-19) will pose to public health. But one thing will happen for sure amid the chaos: inflation.
Policy makers now need to respond to what’s in front of them as the pandemic does not offer simple choices.
This explains why Federal Reserve Chair Jerome Powell has pivoted from his previous stance on inflation. After months of trying to convince markets that the high inflation would pass, he finally gave up on calling it “transitory.”
While the impact of the omicron variant remains uncertain, it is becoming clear that the issue of inflation needs to be tackled.
Other countries have arrived at this realization much sooner. For instance, the Reserve Bank of New Zealand (RBNZ) and the Bank of Korea raised their rates twice in the past few months, while the Monetary Authority of Singapore tightened policy. The Reserve Bank of India suspended its own quantitative easing.
While the RBNZ has a history of moving aggressively, the bank’s chief economist, Yuong Ha, laid out his case for risk management in an interview.
“From where we sit, the outlook is demand might be a bit weaker, it might be a bit stronger depending on how households behave in this new world,” he said. “But it is still a world where inflation pressures are rising, capacity pressures are going to stick around for a while and hence you probably need to be removing monetary stimulus rather than maintaining it.”
Not everybody thinks the same way. The Bank of England, for instance, is still focusing on its stance. “There’s still a lot of information to come in, especially with regard to omicron, so it is premature to even talk about timing, much less how much,” policymaker Catherine Mann said.
For much of the past two years, the potential costs of moving too slowly were tolerable, but inflation is no longer questionable. The ability of banks to make expansions without spiking prices has significantly diminished. The Fed’s measure has been above its target since March, and has accelerated to percent percent in October.
Omicron could cause another wave of lockdowns and bans
While it is too early to tell how the new COVID variant will impact global supply chains, there are many scrambling on the economic side to figure out what another wave of infections and travel bans, lockdowns and restrictions might do to the global recovery.
The potentially more virulent virus could mess up an already messy supply chain and soaring inflation. David Wilcox from the Peterson Institute for International Economics and Joe Brusuelas from consulting firm RSM put in their two cents. (Related: Holiday shoppers shift focus to used goods amid shipping delays and shortages.)
Wilcox noted that there is more that they don’t know than what they do know, while Brusuelas said there are too many unknowns surrounding the new variant and the global and domestic economic outlook.
If the omicron variant does cause another serious wave of global infection, it could discourage consumer spending and job creation. Businesses will be forced to make and ship less, using less energy. Supply chain bottlenecks could ease and inflation could slow down.
However, there is a more likely opposite effect.
Joel Hyatt, CEO of Globality, a supply chain technology firm in Silicon Valley, said: “Inflation is likely to go up because the supply chain is likely to again be adversely affected. People have trouble getting to work through lockdowns and what have you, and labor gets scarcer — particularly for those jobs where being present at work matters. Supply goes down and has an upward pressure on pricing.”
Big Pharma’s Five Major Minions that Everyone, Vaxxed or Unvaxxed, Must Oppose
This is not an “anti-vaxxer” article, per se. It’s a call for everyone to wake up to the nefarious motives behind vaccine mandates, booster shots, and condemnation of freedom.
The worst kept secret in world history SHOULD be that the unquenchable push for universal vaccinations against Covid-19 has little if anything to do with healthcare and everything to do with Big Pharma’s influence over the narrative. Unfortunately, that secret has stayed firmly hidden from the vast majority of people because of the five major minions working on behalf of Big Pharma.
What’s even worse is the fact that Big Pharma’s greed is merely a smokescreen to hide an even darker secret. We’ll tackle that later. First, let’s look at the public-facing ringleaders behind the vaccine push, namely Big Pharma. But before we get into their five major minions, it’s important to understand one thing. This is NOT just an article that speaks to the unvaccinated. Even those who believe in the safety and effectiveness of the vaccines must be made aware of agenda that’s at play.
Let’s start with some facts. The unvaccinated do NOT spread Covid-19 more rampantly than the vaccinated. Even Anthony Fauci acknowledged the viral load present in vaccinated people is just as high as in the unvaccinated. This fact alone should demolish the vaccine mandates as it demonstrates they have absolutely no effect on the spread of the disease. But wait! There’s definitely more.
This unhinged push to vaccinate everyone defies science. Those with natural immunity may actually have their stronger defenses against Covid-19 hampered by the introduction of the injections which fool the body into creating less-effective antibodies. Moreover, the push to vaccinate young people is completely bonkers. The recovery rate for those under the age of 20 is astronomical. Children neither contract, spread, nor succumb to Covid-19 in a statistically meaningful way. What they DO succumb to more often than Covid-19 are the adverse reactions to the vaccines, particularly boys.
All of this is known and accepted by the medical community, yet most Americans are still following the vaccinate-everybody script. It requires pure cognitive dissonance and an overabundant need for confirmation bias to make doctors and scientists willingly go along with the program. Yet, here we are and that should tell you something.
Before I get to the five major minions of of Big Pharma, I must make the plea for help. Between cancel culture, lockdowns, and diminishing ad revenue, we need financial assistance in order to continue to spread the truth. We ask all who have the means, please donate through our GivingFuel page or via PayPal. Your generosity is what keeps these sites running and allows us to expand our reach so the truth can get to the masses. We’ve had great success in growing but we know we can do more with your assistance.
Who does Big Pharma control? It starts with the obvious people, the ones who most Americans believe are actually behind this push. Our governments at all levels as well as governments around the world are not working with Big Pharma. They are working for Big Pharma. Some are proactive as direct recipients of cash. Others may oppose Big Pharma in spirit but would never speak out because they know anyone who does has no future in DC.
This may come as a shock to some, but it’s Big Pharma that drives the narrative and sets the agenda for the “experts” at the CDC, FDA, WHO, NIH, NIAID, and even non-medical government organizations.
Most believe it’s the other way around. They think that Big Pharma is beholden to the FDA for approval, but that’s not exactly the case. They need approval for a majority of their projects, but when it comes to the important ones such as the Covid injections, Big Pharma is calling the shots. They have the right people in the right places to push their machinations forward.
That’s not to say that everyone at the FDA is in on it. Big Pharma only needs a handful of friendlies planted in leadership in order to have their big wishes met. We have seen people quitting the FDA in recent weeks for this very reason. The same can be said about the other three- and five-letter agencies. Too many people in leadership have been bribed, bullied, or blackmailed into becoming occasional shills for the various Big Pharma corporations. Some have even been directly planted by Big Pharma. That’s the politics of healthcare and science that drives such things as Covid-19 “vaccines.”
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JD Rucker – EIC