By Tyler Durden
Readers may recall Nouriel Roubini told Bloomberg TV in late August, about a week before the stock market rolled over, that Wall Street remained disconnected from the financial hardships crushing Main Street America.
Roubini said, “Main Street is struggling.”
For more color on the so-called ‘struggle’ as the virus-induced recession continues to plunge the working-poor into financial misery as the fiscal cliff enters the 39th day – a new report, sourced locally in Milwaukee, Wisconsin, outlines how a top food bank in the Milwaukee–Racine–Waukesha metropolitan area “expects a spike in emergency food needs.”
“We’re not going back to normal anytime soon,” said Feeding America Eastern Wisconsin president and CEO Patti Habeck, who spoke with the Milwaukee Journal Sentinel.
Habeck said there is “no illusions that the stress on the emergency food system will ease up, given the ongoing coronavirus pandemic and spikes among college students and children.”
However, she said the food bank supply chain has slightly improved, thanks to government intervention:
“So far, through the end of the calendar year, we feel good about accessing the food we need,” she said. “The supply chain … is not as disrupted as it was at the beginning of the pandemic…”
Habeck said the Coronavirus Food Assistance program from the Coronavirus Aid, Relief, and Economic Security Act, allowed her organization to purchase more food to handle increasing demand as the virus-induced recession resulted in widespread job loss across the metro area. She added that the USDA’s Farmers to Families Food Box program has been “helpful” with keeping the food bank well supplied.
Habeck’s warning about a “spike” in food bank demand comes as the search term “food bank” in the state had risen this week above the mid-April level when food banks nationwide were “overwhelmed” with record demand from broke and hungry Americans who lost their jobs due to the virus lockdowns.
And tell us how a sudden spike in food bank demand is symbolic of a “V” shaped economic recovery…
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