It is well understood that getting the economy under control before Thanksgiving is a key piece to our fiscal well-being as a nation. The holiday season is the most consumer heavy period of the year, and the people of this country often go nearly broke looking to show everyone else in their lives how much they love them.
It’s an odd cycle, really. We spend all year working for companies and businesses, making some money for ourselves, only to then take that money and hand it right back over in December, just in time for another business year to begin.
But I digress…
The bottom line is that the more we are forced to spend during the period between Halloween and Christmas, the less we have to spend during the same period…if you catch my drift.
That is why the latest Thanksgiving Day numbers aren’t looking too hot.
Thanksgiving dinner will be pricier than last year, according to economists, who say it might actually be cheaper to eat out. The cost of a turkey is expected to rise 23% compared to the fourth quarter of 2021, according to a report from Wells Fargo analysts Courtney Schmidt and Brad Rubin. However, the New York Times recently reported turkey prices could double over last year as a result of avian flu outbreaks, drought, and higher costs of feed, fuel, and labor. In the week of Oct. 21, the average retail price for a frozen turkey was $1.99 per pound, up 73% from 2021. And “more limited” supplies mean you won’t necessarily get your pick of the bunch, per Fox Business.
And that’s not all:
The cost of eggs, butter, flour, and fruits and vegetables are already up 32.5%, 25.8%, 17.1%, and 7.3% respectively year over year, according to the report.
If Joe Biden’s economic policies continue to fail, we can expect some real trouble on the horizon in the new year.