What about food prices?
China, Europe, and the United States are all experiencing serious droughts, resulting in food shortages. I believe we will continue to see an increase in food prices around the world. These might be substantial. It is difficult to project until this year’s harvest is complete. Then we will know for sure; but be prepared for food to cost more.
What about wages and employment?
definition of recession that has existed for the last hundred years (that is, two consecutive quarters of a reduction in GDP), the US is now experiencing a recession. But times are so crazy that the government and the media won’t call it that. Regardless of what you call it, the economy is rapidly slowing down.
Are we in a recession?
Last month the US government changed the definition of the word recession so that they can say, “We are not in a recession.” Unbelievably, the news media is going along with the new definition. According to the
That’s a more difficult question. Just a few months ago, employers could not find enough workers. There has been a real shortage of workers. I believe that is going to change. There have already been thousands of layoffs around the country, and as the economy slows there are going to be more layoffs. People are going to be looking for work. Wages are definitely not going to keep up with inflation. That is for certain! Since there are going to be more workers available, employers will not have to increase wages to hire people. (You will note that Melaleuca has not announced any layoffs, and we will not.) Overall, it appears we may find ourselves in a very
18 OCTOBER 2022 | MELALEUCA.COM
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