< img src ="http://theeconomiccollapseblog.com/wp-content/uploads/2021/10/Sleepy-Pixabay-560x373.jpg"alt =""width="560 "height =" 373 "/ > A lot of individuals aren’t going to want to hear this. There are a lot of people out there that simply wish to hear that the future is going to be filled with rainbows, lollipops and unicorns, however that isn’t the reality. Months earlier, I cautioned my readers that the international chip scarcity wasn’t going to end any time soon and that it would deeply impact countless other markets, and that is precisely what is happening today. Industry after market is deeply hurting, and a lot of executives are really beginning to freak out. Earlier this year, many amongst the blind optimists ensured us that the chip lack would be fixed by the end of 2021, but certainly that has actually not happened. In reality, the corporate media is now telling us that it is getting even worse. For instance, the following comes from a Wall Street Journal short article entitled “Global Chip Shortage ‘Is Far From Over’ as Wait Times Get Longer”…
Wait times for chip shipments have actually continued to climb above a healthy threshold of 9-12 weeks. Over the summer season, the wait stretched to 19 weeks typically, according to Susquehanna Financial Group. However since October, it has ballooned to 22 weeks. It is longer for the scarcest parts: 25 weeks for power-management parts and 38 weeks for the microcontrollers that the automobile market requires, the firm said.
Those numbers are unlike anything that we have actually ever seen before.
And we are quickly getting to a point where some wait times will start to be determined in years. Manuel Schoenfeld positioned an order for transmission chips in May 2021, and he is now being informed that they will most likely be delivered in May 2022…
Manuel Schoenfeld put an order in May for transmission chips for the utility-monitoring gadgets made by his New York-based company PowerX. He was informed the chips would arrive by summer, then fall, then winter and now does not expect to get them until May 2022.
“This is far from over,” Mr. Schoenfeld stated.
How bad does it have to get prior to individuals begin awakening?
The whole worldwide financial system is experiencing sensational breakdowns on a prevalent basis, and yet a great deal of individuals still presume that whatever is going to exercise just fine somehow.
Due to an absence of chips, new car production has actually dropped precipitously and dealerships around the nation have actually seen their stocks drop to alarmingly low levels. As an outcome, demand for used vehicles has skyrocketed, and this has actually pressed pre-owned vehicle prices to definitely outrageous heights…
The 2019 Honda Civic that began a used-car auction earlier this month would have been nothing special before the pandemic. But as automotive dealer Brad Wimmer viewed, the online bidding rapidly became, to estimate him, “bananas.”
As a new car, the Civic would have had a sticker price of around $21,000. However within seconds at the wholesale auction, the two-year-old design, with 4,000 miles, cost $27,200.
If you have an old car that you don’t require anymore just relaxing, you might wish to examine what it deserves now.
We are witnessing a similar phenomenon with farm devices. A lack of chips has actually suppressed production, and used devices is now in extremely high need.
So much like we are seeing with used automobiles, many pieces of utilized farm devices are now selling for far more than when they were brand brand-new…
Joel Everett said he was amazed when a gently used 2009 John Deere tractor sold at his last auction in Strawberry Point, Iowa, for 10s of countless dollars more than it had actually cost fresh off the production line more than a years back.
Bought brand-new for $109,000, the tractor sold for $143,000 at auction, he stated. It’s not a separated occurrence, said Everett, who has actually run Joel’s Tractor and Auction considering that 1992. A great deal of farm equipment, especially used tractors, is costing 30 percent to 50 percent more than it was two years earlier at his auction home.
Food rates are soaring at a very vigorous pace too.
According to Bloomberg, global food expenses have actually jumped “by a third” over the past year …
The dive in global food prices to a decade high dangers causing even more pricey grocery expenses, and the energy crisis is threatening to make things even worse.
Harvest setbacks, strong need and supply chain interruptions have sent a United Nations index of food costs up by a 3rd over the past year. The latest leg up last month came as rates for nearly all kinds of foodstuffs gotten, contributing to inflationary headaches for consumers and central banks.
In my most current book, I have a whole chapter entitled “Run-away inflation and Shortages”, and because chapter I particularly warned that this would take place.
In fact, because chapter I particularly warned about the impact that the chip scarcity would have on worldwide food rates.
We understood in advance that this was coming, and now it is here.
As international food products get tighter and tighter, lacks are going to become more extreme and rates are going to become progressively painful.
Even now, we are being told that this will be the most pricey Thanksgiving ever, and shops shelves simply seem to keep getting emptier and emptier.
Earlier today, I published video that one man took in an amazingly empty Walmart in Connecticut. We are seeing similar things occur all over the country, however authorities continue to insist that everything is simply fine.
In reality, the USDA is specifically telling us that there are “no across the country lacks of food”…
There are presently no nationwide scarcities of food, although in many cases the stock of specific foods at your supermarket might be momentarily low before stores can restock. Food production and manufacturing are extensively distributed throughout the U.S. and there are presently no wide-spread interruptions reported in the supply chain.
USDA and the Food and Drug Administration are carefully monitoring the food supply chain for any scarcities in partnership with market and our federal and state partners. We are in routine contact with food manufacturers and grocery stores.
Well, the USDA has actually spoken, and so I guess that settles it.
I am sorry for alarming all of you with the realities that I presented earlier in this short article.
The USDA states that there are no “wide-spread interruptions reported in the supply chain”, and the federal government always informs us the truth.
So that implies that everything is going to be fine, and you can go back to sleep now.
*** It is lastly here! Michael’s new book entitled “7 Year Apocalypse” is now available in paperbackand for the Kindleon Amazon. ***
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