by Michael
Chicken prices are down. That’s good news for chicken eaters, but bad news for Tyson Foods.
The meat processor, which supplies about a fifth of the beef, pork and chicken in the United States, said Monday that it is shutting down four chicken plants -— two in Missouri, one in Indiana and one in Arkansas — following declining chicken revenue. The Arkansas-based company previously announced two separate closures in the spring.
But despite everything that has already happened, Fed officials are telling us that “multiple rate hikes” may still be necessary.
Is this some kind of a sick joke?
The historic economic meltdown that we have long been warned about is unfolding right in front of our eyes, and they want to raise rates even higher?
Either they are extremely incompetent, or they are doing this to us on purpose.
In any event, much rougher times for the economy are on the horizon, and that is really bad news for the U.S. consumer.
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