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ECONOMIC PERIL: Tyson Foods Warns ‘Food Supply Chain is Breaking’ Due to Quarantine

The quarantine is impacting the food industry.

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An executive at Tyson Foods is warning that there are serious problems within the food chain that are about to have serious ramifications on the ability for Americans to access food.

“The food supply chain is breaking,” wrote John Tyson, who serves as chairman of the board at Tyson Foods, in a full-page ad that appeared in The New York Times, The Washington Post and The Arkansas Democrat-Gazette.

“There will be limited supply of our products available in grocery stores until we are able to reopen our facilities that are currently closed,” Tyson wrote in the ad that also was posted on the company’s website. He is informing the American people that “millions of pounds of meat will disappear” and this will negatively affect the consumer choices that Americans have during a time of unprecedented crisis.

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“Tyson Foods has a responsibility to feed our nation and the world. The government bodies at the national, state, county and city levels must unite in a comprehensive, thoughtful and productive way to allow our team members to work in safety without fear, panic or worry. The private and public sectors must come together. As a country, this is our time to show the world what we can do when working together,” Tyson wrote in his letter to the public.

This is another disastrous impact for the economy caused by the coronavirus pandemic, which has already devastated the service sector beyond repair:

The coronavirus pandemic and mass hysteria that has followed it will have a long-lasting negative impact on the food service industry, according to a recent study.

A survey from the National Restaurant Association (NRA) of over 4,000 restaurant owners has indicated that 11 percent of restaurant owners believe they will have to close up shop permanently with three percent saying they have already closed their doors for good. These calculations extrapolated across the entire industry mean that over 110,000 restaurants will be forced to close forever within a month.

In the first 22 days of March, restaurants lost an estimated $25 billion in sales and over three million jobs because of coronavirus-related economic peril. The consumption-based economy has evaporated immediately, and the ramifications could be dire.

Roger Lipton, a restaurant industry investor and commentator, is calling this the “restaurant apocalypse” and sees the business heading into uncharted territory where the damages could be unlike anything that has happened in the industry before.

“Any pundit who thinks that they’re going to use a recent history — and by recent history, I mean the last 100 years, including the Depression — as a template for what is going to go on here? They’re kidding themselves,” Lipton said to Business Insider on Monday.

Unless America is opened up and soon, the results could be as bad as another Great Depression impacting the public health more negatively than coronavirus ever could.

Big League Economics

SHAME: Democrats Are Blocking Stimulus Legislation That Includes Second $1,200 TrumpBux Check

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Democrats in Congress are blocking a bipartisan $1.5 trillion stimulus package that includes a second round of $1,200 TrumpBux payments to Americans.

Leading House Democrats are saying the bill isn’t big enough of a giveaway, but they favor stimulus measures that would divert funds away from the pockets of everyday Americans to institutions. They want to bail out Democrat state and local governments, and are willing to block TrumpBux payments to Americans if they aren’t allowed to.

The House passed a $3.4 trillion stimulus package in May that was shot down by Senate Republicans. The latest $1.4 stimulus legislation has been presented as a compromise, after House Democrats in turn rejected a thin $500 billion stimulus package proposed by Republicans last week. That package did not include a second round of $1,200 payments, and Republicans are now willing to sign off on another TrumpBux payment in order to pass another round of stimulus.

The $1.5 trillion stimulus legislation emerged from the Problem Solvers Caucus, a group of 25 Republicans and 25 Democrats who emphasize bipartisanship and common ground. Aside from TrumpBux 2, it features $500 billion for cities and states, unemployment insurance of $600 a week, increased SNAP benefits and rental assistance.

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Steny Hoyer and Nancy Pelosi are claiming the legislation doesn’t go far enough and that it “leaves too many needs unmet.”

Pelosi and House Democrats are insisting that Congress will remain in session until a second stimulus agreement is met, but in rejecting the Problem Solvers Caucus legislation they’re already shown they’re not open to a generous compromise.

Try asking everyday working Americans of all stripes and walks of life if they’re willing to wait or even go without a second $1,200 stimulus payment in order to provide a bigger bailout to states and cities that already engage in questionable budgetary practices to begin with. The Democrats are resolutely determined to avoid making people the priority in  a stimulus package, and will block stimulus legislation to do so.

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