Varney: Biden must take some of the inflation blame
President Biden warns of food shortages over Russia-Ukraine war
Stuart Varney: Biden must take some of the inflation blame
FOX Business host Stuart Varney argues Americans' grocery bills spiked as 'Biden flooded the economy with cash.
"Varney & Co." host Stuart Varney sounded the alarm during his "My Take" Friday after President Biden warned of global food shortages as a result of the war in Ukraine, arguing the president "must take some of the blame" for inflation.
STUART VARNEY: If there's one thing the president got right, it’s his statement that there will be food shortages.
Sanctions on Russia, and attacks around the wheat and corn fields of Ukraine, ensure that basic food commodities will be in short supply.
And that means much higher prices.
And the problem stretches out into the future because there's a shortage of fertilizer.
In some countries, that could mean civil unrest, and even regime change.
Remember, it was a spike in wheat prices that helped set off the Arab spring.
Putin takes a lot of the blame for this. It is his war.
But food price inflation started way before Ukraine was invaded.
Biden must take some of the blame. Your grocery bill went up as Biden flooded the economy with cash.
RISING GAS PRICES COULD COST AMERICAN HOUSEHOLDS $2,000 MORE THIS YEAR
What does this mean for America? Bad news.
Your grocery bill is already a shock, and it will get worse as food shortages appear.
I paid $7 for a one-pound loaf of whole wheat bread yesterday. I would not be surprised at a $10 price tag this summer.
There's no easy fix, but there are serious consequences.
Your standard of living goes down. Interest rates go up. Stagflation is likely. Right around Election Day …