He promised lower prices. Here are ten you can bet will go up because of his promise of “lower taxes.”
- Fuel. As in gasoline, diesel, and home heating oil. We pump and refine some in the United States, but not nearly enough to meet demand. When demand outstrips supply, as basic economics theory contends, prices go up. It’s part of what’s ironically known as a free market.
- Coffee and tea. Imported and subject to new, stiff tariffs.
- Vanilla. Ditto. Along with a lot of other spices and flavorings.
- Chocolate. The beans are imported, as are some chocolate products. If you were considering cocoa as your new beverage of choice, think again.
- Olives. Yes, we raise some, mostly California, but the U.S. is not in the top five olive-growing countries. Spain and Italy top that list. As for olive oil, which many fine cooks consider essential and which nutritionists tout as healthy? There will be suffering.
- Cars, SUVs, trucks, and parts. It’s a complex picture, but you can’t build new factories and hire and train workers overnight.
- Electronics. Ditto.
- Clothing. Check those labels. As for building factories and hiring and training workers? Once again, it won’t happen overnight.
- Wine and spirits. Yes, we make these in the USA, too, but imports are major. There are no substitutes when it comes to discriminating tastes. And here’s another case of demand outstripping supply in a so-called free market.
- Bananas. Most of them come from plantations in countries formerly controlled by American owners. You know, banana republics.
One place prices seem to be going down is stocks.
Jnana's Red Barn 