In addition to economic inflation, climate change is having a direct affect on food prices

by Terri Dee
Illinois News Connection


One example: The price of oranges and the price of orange juice have both steadily increased in recent years due to declining production in Florida caused by large hurricanes.


CHICAGO - Consumers are unhappy with increasing food prices and blame inflation. In reality, natural disasters have a direct link to grocery costs, with no end in sight.

Climate change affects Illinois farms, especially drought. The weather extremes lower their livestock's productivity, raising the price of dairy and meat products.

Michael Stromberg, spokesperson for Trace One, a food and beverage regulatory compliance company, said the effects of floods, hurricanes, drought and extreme heat have a nationwide and global impact.

Ripe oranges on a tree
Photo: Hans/Pixabay
"The price of oranges and the price of orange juice have both steadily increased in recent years due to declining production in Florida caused by large hurricanes," Stromberg outlined. "Grain prices are through the roof in critical agriculture regions like the Midwest. It starts with drought. It affects a huge portion of agriculture in that region that has an aftereffect at the grocery store in terms of your grocery prices."

Illinois ranked 10th in the Trace One study of all 50 states where natural disasters have the biggest impact on the nation's food supply. Losses were mostly due to drought in Henry, Sangamon, Lee, Logan, Bureau and Mason counties.

Stromberg argued innovation is needed to solve these dilemmas. One solution is to develop and distribute climate-resilient crops capable of withstanding extreme droughts and floods. Other strategies are to implement effective water resource management systems and invest in flood control measures alongside restoring natural buffers. Wetlands and watersheds will act as sponges to help mitigate the dangers of excessive rainfall. He added more answers can take on a scientific tone.

"Farmers can use newer precision agriculture technologies like IOT sensors, drones, advanced analytics that can allow farmers to better monitor weather patterns, things like soil health and their water usage, which can optimize resources better," Stromberg explained.

He urged the public to vote for policies prioritizing renewable energy, water conservation and sustainable agriculture to drive "incremental improvement," and for the public to reduce their food waste. Another Trace One study found Illinoisans lost slightly more than $1,900 per household, or $766 per person from food waste last year.



Commentary |
Stop the invasion of our nation

by Glenn Mollette, Guest Commentator


If President Biden could announce on November 1, 2024 that all student debt is forgiven, he would do so. That would surely be a way to get a few more votes. If you have a $100,000 student loan, then you have a heavy burden of paying back that loan. To suddenly have the debt cleared would be a marvelous feeling.

Would this make you feel like Biden is a great President? Would this boost your confidence in his ability to lead our nation? Or, would you see such an act as a last-ditch effort to do whatever it takes to stay in the oval office for four more years?

Thousands of Americans have carried the weight of student loans for years. Thousands have paid back the loans. Loans are never fun to pay back. Car payments, house payments, and credit card debt are tough to carry for years and years. Is it fair that many Americans have paid off student debt but suddenly thousands of Americans could have a large portion of their debt wiped away? It doesn’t seem fair. Is it good for America? Many more Americans need to borrow money for college. Paying back student loans is one way to keep money circulating back into the government coffers.

What if someone paid back 75% of their loan in ten years then the other 25% would be forgiven? What about a two or three percent interest rate on student loans? What if people went to community colleges their first two years? There has to be a better way than just waving the magic wand and clearing debt to boost popularity.

Interest rates are going to come down between now and November 1. A 30-year mortgage by November 1 will be closer to six percent. The stock market is roaring. If you have some money in stock then you have to be enjoying the increase. What goes up always comes down some, eventually. Don’t look for it to go down much between now and November first.

The one thing President Biden doesn’t seem to want to do is stop the invasion of America. The invasion of America continues. Allowing up to 8.5 thousand illegals per day is not a fix. Outlaw gangs have taken over parts of South America in Columbia and Venezuela and parts of central America. Gangs have taken over Haiti. The cartel seems to roam freely in Mexico. These outlaws are coming into America. Violence, stealing, and killing are all they know. They will fight with and kill police officers, assault and murder women, steal from you, and terrorize our communities. Most of our small American counties are understaffed to protect our citizens from gangs armed with semi-automatic weapons.

The invasion must be stopped today. Border states deserve all the help the federal government can give in securing the borders immediately instead of making it difficult on the states.

Soon there will be so many illegals from China and throughout the world in our country that we will not have enough police or military to protect ourselves. We see this happening before our very eyes.

The issues of student loans, interest rates, gasoline prices, inflation, and much more impact our lives significantly. Nothing is impacting our nation like the invasion.

Please Mr. President and Congress, stop the invasion of our nation.


-----------------------------------------------------------

He is the author of 13 books including Uncommon Sense, the Spiritual Chocolate series, Grandpa's Store, Minister's Guidebook insights from a fellow minister. His column is published weekly in over 600 publications in all 50 states. The views expressed are those of the author and are not necessarily representative of any other group or organization. We welcome comments and views from our readers. Submit your letters to the editor or commentary on a current event 24/7 to editor@oursentinel.com.

-----------------------------------------------------------

-----------------------------------------------------------

Commentary |
It’s not ‘Inflation’ — We’re just getting ripped off


These corporate giants have no plans to bring prices down anytime soon.


by Lindsay Owens & Elizabeth Pancotti



Many Americans are still experiencing the sticker shock they first faced two years ago when inflation hit its peak. But if inflation is down now, why are families still feeling the pinch?

The answer lies in corporate profits — and we have the data to prove it.

Our new report for the Groundwork Collaborative finds that corporate profits accounted for more than half — 53 percent — of inflation from April to September 2023. That’s an astronomical percentage. Corporate profits drove just 11 percent of price growth in the four decades prior to the pandemic.

Businesses have been quick to blame rising costs on supply chain shocks from the pandemic and the war in Ukraine. But two years later, our economy has mostly returned to normal. In some cases, companies’ costs to make things and stock shelves have actually decreased.

Let’s demonstrate with one glaring example: diapers.

The hyper-consolidated diaper industry is dominated by just two companies, Procter & Gamble and Kimberly-Clark, which own well-known diaper brands like Pampers, Huggies, and Luvs. The cost of wood pulp, a key ingredient for making diapers absorbent, did spike during the pandemic, increasing by more than 50 percent between 2020 and 2021.

Corporate profits accounted for more than half of recent price increases. To stamp out inflation once and for all, we need to crack down on price gouging.

But last year it declined by 25 percent. Did that drop in costs lead Procter & Gamble and Kimberly-Clark to lower their prices? Far from it. Diaper prices have increased to nearly $22 on average.

These corporate giants have no plans to bring prices down anytime soon. In fact, their own executives are openly bragging about how they’re going to “expand margins” on earnings calls. Procter & Gamble predicted $800 million in windfall profits as input costs decline. Kimberly-Clark’s CEO said the company has “a lot of opportunity” to expand margins over time.

It’s not just diapers — while many corporations were quick to pass along rising costs, they’ve been in no hurry to pass along their savings. A recent survey from the Richmond Fed and Duke University revealed that 60 percent of companies plan to hike prices this year by more than they did before the pandemic, even though their costs have moderated.

Photo: Israel Albornoz/Unsplash
Corporations across industries, from housing to groceries and used cars, are juicing their profit margins even as the cost of doing business goes down. And they’re not hiding the ball. Since the summer of 2021, Groundwork began listening in on hundreds of corporate earnings calls where we heard CEO after CEO boasting about their ability to raise prices on consumers.

Now we hear something slightly different: CEOs crowing about keeping their prices high while their costs go down.

PepsiCo raised its prices on snacks and beverages by roughly 15 percent twice in the last year while bragging to shareholders that their profit margins will grow as input costs come down. Tyson’s earnings report flaunted how their higher prices have “more than offset” their higher costs. The CFO of Hershey said last quarter that pricing gains more than offset inflation and higher costs.

So what can we do about it?

The Biden administration has taken important steps to rein in corporate profiteering and address the longstanding affordability crisis, from eliminating junk fees to strengthening global supply chains and cracking down on corporate concentration.

With the 2017 Trump tax cuts set to expire, Congress should also take this opportunity to raise taxes on corporations. Taxing profits helps disincentivize price gouging and profiteering because large corporations will have to send a greater share of their windfall to Uncle Sam.

We’ve come a long way in bringing inflation down since its peak in 2022. But stamping out inflation once and for all will require a concerted effort to rein in the corporate profiteering.



Elizabeth Pancotti

Lindsay Owens
Lindsay Owens is the Executive Director of the Groundwork Collaborative. Elizabeth Pancotti is Strategic Advisor to Groundwork. This op-ed was distributed by OtherWords.org.



Guest Commentary: You won’t get rich collecting Social Security

by Glenn Mollette, Guest Commentator

You won’t get rich collecting Social Security, not even close. However, you don’t want to mess it up either. The system was never intended to be your total retirement income but to many it’s their only source of retirement income. You don’t want to make it your only source of income for your senior years but you definitely want it in your income portfolio.

Social Security recipients will receive an 8.7% increase in their monthly income starting in January. The average increase will fall between $150 to $250 per month. This will buy you a tank of gasoline or a sack of groceries. The increase will help about 70 million retired Americans.

Inflation has devoured Americans’ paychecks as groceries, fuel, rent and now interest rates have skyrocketed. By the time the January increase comes around you probably will have lost most of your increase to these and medical costs associated with Social Security.

Pay all you can into Social Security. Too many young adults buy into the rationale that Social Security doesn’t pay much or won’t be around when they retire. On some level it will be around and you’ll need it when you retire.

Business persons, farmers, hospitality people, clergy and others make a big mistake in finding ways to only show a small income when they file their taxes. This reduces the amount of taxes owed and lowers how much paid into Social Security. When retirement comes these people become very sad when they find out they will only receive a minimal amount of Social Security income.

One minister friend opted out of paying into Social Security because of religious objections.

When he was 70, he had almost zero retirement and worked up until his death. Another ministerial friend claimed very little salary and received very little in Social Security payments when he retired. He spent his last couple of years cleaning hotel rooms and working at Kentucky Fried Chicken trying to survive. A farmer acquaintance worked hard for many years but doesn’t collect a penny in Social Security benefits. You have to pay into it to collect it so don’t short-change yourself.

The average Social Security payment in 2022 is $1,614. Many people who worked less years and paid less collect less than this amount. Some Americans who worked longer, earned more income and paid more into the system are collecting $3,345 per month. Again, these numbers will increase in 2023 by 8.7%.

Sometimes people retire too early. A friend retired at 62 and received $1100 per month in Social Security income. At that time, he would have collected several hundred more if he could have worked just three more years.

Pay into an Individual Retirement Account, 401k and anything else you can. You can’t live big just on a Social Security check, but pay as much as possible into the system now because it will be helpful later.


-----------------------------------------------------------

Dr. Glenn Mollette is a syndicated American columnist and author of Grandpa's Store, American Issues, and ten other books. He is read in all 50 states. The views expressed are those of the author and are not necessarily representative of any other group or organization.

-----------------------------------------------------------

This article is the sole opinions of the author and does not necessarily reflect the views of The Sentinel. We welcome comments and views from our readers. Submit your letters to the editor or commentary on a current event 24/7 to editor@oursentinel.com.


-----------------------------------------------------------

Guest Commentary: I don’t understand why anyone in our government would want to do business with the Saudis

by Glenn Mollette, Guest Commentator

Reports are pointing to an 8.9% raise for Social Security recipients. While it won’t feel like enough, it may buy you a sack of groceries or a tank of gasoline. This is a big maybe on the gasoline as California reports prices of over $8 per gallon.

Some of our government leadership is crying because Saudi Arabia is cutting their oil production by 2 million barrels a day. This means less oil for everyone in the grand oil supply pool. I don’t understand why anyone in our government would want to do business with the Saudis.

Buying oil from Saudi Arabia, Venezuela or any foreign entity is crazy. Why don’t we use our own oil? I’m all for green energy but we aren’t quite there yet. Make electric cars and drive them. Utilize solar energy and else anything that we can to help preserve this planet and its resources. Regardless, our country still needs oil. As long as we need oil, it would be wiser and much more cost effective to use our own oil. Put Americans back to work drilling our oil and selling it to foreign countries.

Our government has been draining our own oil reserve to try to keep the price of gasoline down. This doesn’t seem to be working very well. Plus, it puts our country at risk. When China and Russia decide to attack us, we need to be able to put fuel in our jets and ships. That would not be a good time to have to go back to Saudi Arabia and beg for oil.

We should utilize a full arsenal of energy from electric cars and a grid to supply the power. Utilize our oil, wind, natural gas and coal. Once our country can do everything without oil or coal, then we can move on from those resources. Being dependent on getting them from foreign nations doesn’t make sense, especially when we have the resources.

A loaf of bread will eventually cost Americans their 8.9% Social Security increase. Ukraine has been one of the world’s leading providers of wheat. Having Russia in control of Ukraine, a major source of the bread supply, along with their major supply of natural gas is bad news for the world.

The Crimea bridge that was recently bombed between Russia and Ukraine should have been bombed on day one by Ukrainians. Ukraine must do whatever it takes to thwart Russia’s ongoing destruction of their country. The news has been filled with fear that Russia will go nuclear in their efforts. When the nations start hurling nuclear bombs you won’t need to worry about gas, groceries and cost of living adjustments because this planet can only take so much.

Keep in mind there is still something you can do to make a difference – vote. Clear your calendar for voting. If you don’t vote then don’t complain about our government, inflation, rising interest rates, gasoline prices and more. I know it doesn’t feel like your one vote matters, but it truly counts. The only way you can bring about change is to clear your schedule, take the time, and vote.


-----------------------------------------------------------

Dr. Glenn Mollette is a syndicated American columnist and author of Grandpa's Store, American Issues, and ten other books. He is read in all 50 states. The views expressed are those of the author and are not necessarily representative of any other group or organization.

-----------------------------------------------------------

This article is the sole opinions of the author and does not necessarily reflect the views of The Sentinel. We welcome comments and views from our readers. Submit your letters to the editor or commentary on a current event 24/7 to editor@oursentinel.com.


-----------------------------------------------------------

Guest Commentary: Government spending can't be fixed by just one group

by Glenn Mollette, Guest Commentator

According to the IRS, a $400,000 or more annual household income represents America's top 1.8% income-earners. Per IRS Publication 6292, there were 154 million tax returns filed in 2019, thus approximately 2.8 million people earn over $400,000.

There are currently 330 million people living in the United States according to the most recent census. Millions of illegals have, and are crossing our borders, so this number is on steroids.

69.1 million people received benefits from programs administered by the Social Security Administration (SSA) in 2019. 5.7 million people were newly awarded Social Security benefits in 2019. (SSA)

2.8 million people making over $400,000 a year cannot solve the financial problems of America’s government. Telling Americans that we are going to stick it to the rich or 1.8% of our country to carry 70 million retirees and millions of illegals flooding into our country is just political rhetoric.

Most people aren't doing great when it comes to saving for the future: A 2020 SSA study found that 40% of Americans rely on Social Security as their sole source of retirement income. The average annual Social Security benefit for a worker is nearly $20,000, hardly enough money for most retirees to subsist on. (CNBC)

The United States Department of Labor data shows that there were 113,062 pension plans in 1990, but only 46,869 in 2018. The average private pension in the United States today is about $10,788, according to data from the Pension Rights Center. (Annuity.org)

In 2023, the year in which the legislation will increase tax revenue most, individuals making less than $10,000 per year will pay 3.1% more in taxes and those making between $20,000-30,000 per year will see a 1.1% tax increase, the Joint Committee on Taxation (JCT) analysis showed. Tax revenue collected from those making $100,000 per year or less would increase by $5.8 billion in 2023 under the Inflation Reduction Act.

In addition, the share of tax revenue collected from all Americans making more than $200,000 per year would remain at the current percentage, according to the JCT. Taxpayers with an annual income of $200,000 or greater pay more than 57% of all federal income taxes.

Will America’s seniors eventually pay more in taxes? Currently retirees may pay income tax on up to 85% of benefits if your combined income is more than $34,000. Combined incomes between $32,000 and $44,000 may be taxed up to 50% of the total, and above $44,000 may be taxed up to 85% of the total. if you're married and filing a joint return. Do you think these numbers will go down? There is only one way that taxes have gone in America – up.

Our problems cannot be fixed by one small group of America’s people. We must have a flat tax for eveyone making over $50,000. We have to stop the influx of illegals. We must be self sufficient in energy and manufacturing. Many retirees who are physcially able may have to go back to work to survive inflation.

In the meantime, our Government must help us by elminiating the billions of dollars wasted each year. Also, they need to stop trying convince us that they are going to fix our problems by only going after 1.8 percent of the America people.


-----------------------------------------------------------

Dr. Glenn Mollette is a syndicated American columnist and author of Grandpa's Store, American Issues, and ten other books. He is read in all 50 states. The views expressed are those of the author and are not necessarily representative of any other group or organization.

-----------------------------------------------------------

This article is the sole opinions of the author and does not necessarily reflect the views of The Sentinel. We welcome comments and views from our readers. Submit your letters to the editor or commentary on a current event 24/7 to editor@oursentinel.com.


-----------------------------------------------------------

ViewPoint | A case for a mixed-method fix to the US economy


Anyone entering the labor market or buying cars or property this year or next will be highly affected by inflation policies.

Throughout history, sometimes the Federal Reserve, or "Fed," has altered the federal funds rate in the same direction, up or down, over lengthy eras. The Fed has also often left interest rates constant.

An example of the first was raising them from approximately 1977-1980, or cutting them from 1968-1971. An example of the second was over the Great Recession (2010-2015) - which held near 0%. Predictability gives firms expectations, causing smoother shifts in supply and demand without smaller iterations.

However, keeping rates lengthily at the same level can lead to financial instability, from: "chasing higher yield;" savings and investments imbalances; or, from larger policy changes once “shocks” arise. With the pandemic “shock,” political-economic turbulence might still be ahead, and more inflation. The 1920’s economist Irving Fisher described inflation as butter (money) spreading too far over bread (goods).

Inflation today has several culprits: monetary policies of central banks; international conflict; fiscal policies of spending bountiful government money, much of it deficit-financed; labor shortages from workers fearing the virus; and online-bought goods causing trouble coordinating ships or truck entries into ports.

The Fed, while independent, must still align itself with President Biden’s policies, which called for two infrastructure bills. With the larger bill, even moderates have to compromise, and the newly-convoluted idea that lawmakers do not have to reveal their stances makes politics more dyspeptic.

The wealth tax (on unrealized capital gains) to pay for the bill may have been unconstitutional or could have shifted investments overseas. But, raising the top income bracket was rejected, and raising the payroll tax on upper-earners was not even considered. Spending proposals, such as “free” community college, or even scholarships, or my own proposed idea for an ice-breaker vessel for the Arctic’s infrastructure, were rejected ad-hoc in behind-the-scenes negotiations. Hyper-politicized parliamentary rules took precedent over actually voting on amendments.

Undernoted in this debate, and absent from modern economic texts, is the 1960’s "balanced budget theorem," promulgated by economist Paul Samuelson. Increasing taxes and spending by similar amounts can theoretically increase short-term growth, though never attempted, but permitting an inflation focus. Yet, bills sometimes die, and Mr. Biden has not even addressed healthcare yet.

Fortunately, last year’s annual end-of-year budget crises were averted. Perhaps the Republicans saw no need to add “insult to injury,” since inflation hit. As Fisher described, perhaps butter melts faster than bread expands, in our analogy, because money is more liquid than goods, which take time to produce.

Henceforth, Mr. Powell may have lowered rates too slowly before, too quickly during, and to be seen too delayed after the pandemic. Some economists have said these were the Fed’s worst historical mistakes.

With both inflation and held-back pandemic growth presenting challenges, it might benefit the Fed to follow a third course, of short-term changing rates incrementally, from meeting-to-meeting, or quarter-to-quarter, based on changing conditions "on the ground," as military leaders say. In essence, mix the ingredients differently. The Fed did so in the mid-1980s and mid-1990s. Instead of dubiously committing to raising rates indefinitely, it might be wise to keep an eye on growth, especially with the conflict overseas, as rate hikes could lead to recession- worse than the current climate.

The economy is now Mr. Biden’s, having re-nominated Mr. Powell for Chair, while nominating Lael Brainard for Vice-Chair, both now before the Senate amidst questions over Fed "insider trading," and whether the Fed should own environmentally-unfriendly assets.

Dr. Brainard could steer Mr. Powell within his newfound fixation on rate-raising. Once set, though, a mixed-method approach, as described here-to-fore, might prove most stabilizing, along with mixing policies between different tools. Also helpful for Fed policy, and for keeping rates low, would be if President Biden’s larger bill were to be revisited once growth slows, even if voted on in pieces. Parts, even those aimed at climate change, could stimulate the economy, especially if some revenues paid down debt.

A combination of all such approaches would ensure that the government gets the upcoming climate right and that the kids get their holiday baked goods just under a year from now, without a recession, but certainly with butter for everyone.

Dr. Todd J. Barry holds a PhD from the University of Southern Mississippi, and teaches economics, currently with Hudson County Community College in New Jersey, USA.

Guest Commentary | Unfortunately, the world is a difficult place for peace

by Glenn Mollette, Guest Commentator

Most of us simply want peace in our lives, nation and world. We enjoy resting in a warm or cool house, with something to eat, free from worry and stress. Peace is not always easy. This winter, chances are that your heating bill was chomping on your checking account and taking a huge bite out of your income. You may have turned your thermostat down and wore extra layers hoping to cut back on literally burning up your money.

People have reported gas and electric bills from $500 to over a $1,000 for one month of trying to stay comfortable in their homes.

While you are attempting to stay warm or cool, you are wondering if you can afford to start your car. Americans are seeing gas prices dance between $4.00 and over $6.00 for one gallon of gas. Filling up my old truck is pushing toward $150 at a time. When my wife goes to the grocery store the same staples seem cost more every time she goes.

The current inflation is not only expensive but is chipping away at our peace. Peace? It’s hard to have peace if you go into cardiac arrest every time your utility bill arrives, you buy gasoline or go to the grocery store. If you are renting a place in America then you have a further burden as some Americans are paying over $2,000 a month to rent a house. If they can find one to rent.

Russia has destroyed Ukraine and has become a major player in driving up our cost of living. We were already experiencing inflation but the entire planet is reacting to what Russia is doing to Ukraine. Do you remember when we heard the news that Osama Bin Laden had been shot by one of our seal teams? When and how will the murderous rein of Vladimir Putin end? We must hope and pray for an end to this evil.

Unfortunately, the world is a difficult place for peace. The Bible assures us that in the last days there will be wars and rumors of wars. There will be pestilence, famine, and our hearts will fail us from fear. Thus, our peace must come from God who is greater than our problems. There is an internal strength and peace that comes when we focus our minds on Him. Currently millions of Ukrainians have nothing left but the shirts on their backs and whatever internal resolve and fortitude that is keeping them going.

Our peace in America is very unsettling but compare your situation to millions of Ukrainians today.

Pray for them and let us all give thanks for what we have.


-----------------------------------------------------------

Dr. Glenn Mollette is a syndicated American columnist and author of Grandpa's Store, American Issues, and ten other books. He is read in all 50 states. The views expressed are those of the author and are not necessarily representative of any other group or organization.

-----------------------------------------------------------

This article is the sole opinions of the author and does not necessarily reflect the views of The Sentinel. We welcome comments and views from our readers. Submit your letters to the editor or commentary on a current event 24/7 to editor@oursentinel.com.


-----------------------------------------------------------


More Sentinel Stories



Photo Galleries


Monticello Basketball vs Seneca
January 11, 2025
30 Photos

January 11, 2025
37 Photos

January 11, 2025
31 Photos

January 4, 2025
42 Photos

December 14, 2024
39 Photos

December 7, 2024
27 Photos