US death toll from Covid-19 has surpassed 800K today (specifically: 820,723). At this rate, expert projects we will hit the 1 million mark sooner rather than later. The Omicron variant of the Coronavirus, albeit less lethal, spreads fast and may cause a surge in January after the holidays.
If you are fully vaccinated (i.e. vaccinated and received a booster), the inflation may be your bigger worry. Producer prices rose in November (highest on record). The producer price index published by the government today showed the index jumped 0.8% in November and 9.6% annually.
Of course, inflation means higher prices for food, gas, rent but not salary.
These uncertainties are all interrelated. The Covid-19 pandemic causes less business activities due to supply chain delay and other restrictions. Which in turn drives up the prices. If none of the above affects you, the weather may. Bad weather contributes to both (i.e. business slowdown and indoor Covid transmission).
My point is not to scare anyone but to highlight some of the unknowns hovering over the country. After all, one can only control what is within one’s circle of influence. At least, acknowledging the unknowns, we are not hiding from them while heading into the year’s end.
What is your take on our current state?