If CNN starts seeming like The Financial Collapse Blog Site, what does that suggest? Sadly, the reality about what is in our instant future is emerging to everybody. Global supply chains remain in a state of complete and utter turmoil, and this is driving up prices and triggering prevalent lacks all over the country. Over the past number of weeks, I have actually written 5 posts with either “lack” or “shortages” in the title, and some have actually implicated me of being a little alarmist. If that holds true, then CNN is being alarmist too, because one of their leading stories today honestly cautioned of a “international transport system collapse”…
In an open letter Wednesday to presidents going to the United Nations General Assembly, the International Chamber of Shipping (ICS) and other industry groups alerted of a “international transport system collapse” if governments do not bring back freedom of movement to transfer workers and provide concern to get vaccines recognized by the World Health Company.
For years, we have all been able to take our exceptionally complicated supply chains for granted. Things have actually constantly been where they need to be when they needed to be there, and much of us just assumed that it would always be that method.
But now organizations that represent 65 million transport workers around the globe are honestly cautioning that “global supply chains are beginning to buckle”…
“Worldwide supply chains are beginning to buckle as 2 years’ worth of stress on transportation employees take their toll,” the groups wrote. The letter has actually likewise been signed by the International Air Transportation Association (IATA), the International Roadway Transportation Union (IRU) and the International Transportation Employees’ Federation (ITF). Together they represent 65 million transport employees internationally.
“All transportation sectors are likewise seeing a shortage of employees, and expect more to leave as an outcome of the bad treatment millions have actually faced during the pandemic, putting the supply chain under greater threat,” it included.
Things are especially bad at our ports. Right now, there is a stockpile of approximately 500,000 shipping containers waiting on ships off the west coast waiting to be unloaded …
As an estimated 500,000 containers are resting on freight ships off the Southern California coast, many are questioning how to deal with the stockpile.
Needless to say, we have actually never ever seen anything like this before.
However what a lot of Americans don’t realize is that the stockpile off the coast of China is even worse…
There are over 60 container ships full of import freight stuck offshore of Los Angeles and Long Beach, however there are more than double that– 154 as of Friday– waiting to pack export freight off Shanghai and Ningbo in China, according to eeSea, a company that examines carrier schedules.
The number of container ships anchored off Shanghai and Ningbo has actually risen over current weeks. There are now 242 container ships awaiting berths countrywide. Whether it is because of heavy export volumes, Tropical cyclone Chanthu or COVID, rising congestion in China is yet another wild card for the trans-Pacific trade.
If you are awaiting something to come in from overseas, you may be awaiting a long time.
Since of all the chaos, we are being cautioned that this might be a holiday season like no other…
Sellers are sounding the alarm on the upcoming vacation shopping season due to severe supply chain issues that are slowing shipments of made goods all over the world.
Turmoil theory in it’s simplest kind states if a butterfly flaps its wings in China, it indicates rain in Central Park. Well, that uses not just to weather, however supply chains as well, and in the Bay Area, it will impact everything from computer system parts for your vehicle to the presents and toys on your vacation wish list.
If there is something that you actually wish to get your hands on, you might want to order it now, because it might not be available later.
In addition to shortages, supply chain concerns are likewise pushing costs substantially higher.
For example, we just learned that the cost of bacon has actually risen practically 28 percent over the previous year …
The typical cost for that piece of bacon to accompany the Sunday morning spread has leapt nearly 28% throughout the past 12 months, inflation-adjusted Customer Rate Index information show.
The supply chain problems and inflationary pressures that have actually ended up being all-too common in these pandemic times definitely have played theirs functions in the pork price hikes, together with a variety of industry-specific influence.
A lot of people might be forced to stop eating bacon as an outcome of soaring costs, and from a health viewpoint that is not a bad thing.
And the rate of bacon is going to continue to go higher, due to the fact that U.S. hog herds are shrinking at a vigorous speed…
United States hog herds experienced the most significant regular monthly drop in two decades, according to brand-new information from the USDA. The reason behind the drop is since farmers reduced hog-herd advancement over the last year due to labor disturbances at slaughterhouses plus high animal feed.
USDA data revealed the United States hog herd was 3.9% lower in August than a year back. It was the biggest month-to-month drop because 1999 after experts only anticipated a decrease of about 1.7%, according to Bloomberg.
A number of you already don’t consume bacon, and so what I just shared might not impact you, but what about a scarcity of potatoes?
Incredibly, it is being reported that some fast food outlets are now running out of French Fries. The following comes from Matt Stoller…
My preferred story is quintessentially American, and un-American, at the very same time. It’s from a Florida realtor who remained in a rush and stopped at a Burger King for lunch. He saw an indication, “Sorry. No French fries with any order. We have no potatoes.” At first he thought he was picturing things. What type of junk food location runs out of french fries? Is this, he wondered, a sign of things to come?
It’s an excellent question. Fast food exists in a land of plenty, of surplus, of standardized food with a dependable infrastructure of trucks, trains, farms, and distributors. Lacks of daily items conflicts not only with most of our lived experiences, but likewise with our extremely conception of who we are. There’s a name for this structure, and it’s called abundance.
I truly like how Stoller made that last point.
Many of us believe that given that we are the most prosperous country on the whole planet that long-lasting scarcities might never ever take place to us.
However they are taking place.
And if you think that what we are experiencing now is bad, just wait up until we get a few more years down the roadway.
From the really top to the very bottom, our whole financial system is being shaken.
If you are expecting our nationwide leaders to come in with some sort of a fast fix to this crisis, you are going to be waiting a really, truly very long time.
The blind are leading the blind, and the months ahead are going to be very challenging.
*** It is lastly here! Michael’s brand-new book entitled “7 Year Armageddon” is now available in paperbackand for the Kindleon Amazon. ***
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