Inflation and shortages are the two huge stories for the U.S. economy today. In current days I have actually done multiple short articles about inflation, and so today I want to concentrate on the extensive scarcities that we are currently seeing. At this minute, the U.S. economy is experiencing more scarcities than it did at any point during 2020. I know that statement sounds quite extravagant, however it is true. Throughout the early phases of the pandemic, there were temporary shortages of toilet tissue, hand sanitizer and other items, but now there are serious scarcities throughout lots of sectors of the economy, and numerous of those shortages will not be so temporary.
On Thursday, Business Expert published a list of a few of the most serious scarcities that we are going through at the moment …
-Computer system chips
-Used automobiles and rental vehicles
-Plastics and palm oil
-Truckers and rideshare chauffeurs
-Residences and holiday homes
-Home products like toilet paper and tampons
-Bacon and hot dogs
-Imported foods like cheese, coffee, and olive oil
That is quite a list!
The COVID pandemic suppressed output for lots of industries for a prolonged period of time, and on the other hand our “leaders” have been pumping trillions and trillions of fresh dollars into the system.
So now we have method a lot of dollars chasing way too few items and services, and this is triggering tremendous inflation and really uncomfortable shortages.
Simply look at what is taking place to the steel market. Modifications in supply and demand have pushed up the price of steel to “almost triple the 20-year average”…
After bottoming out around $460 in 2015, US benchmark hot-rolled coil steel costs are now sitting at around $1,500 a load, a record high that is nearly triple the 20-year average.
Steel stocks are on fire. US Steel (X), which crashed to a record low last March amidst personal bankruptcy worries, has escalated 200% in simply 12 months. Nucor (NUE) has actually spiked 76% this year alone.
Far more notably for the average American, there are now chicken shortages all over the nation, and costs have soared into the stratosphere…
After a year promoting takeout wings and crispy chicken sandwiches, restaurants including KFC, Wingstop Inc. and Buffalo Wild Wings Inc. state they are paying high rates for limited poultry. Some are running out of or limiting sales of tenders, filets and wings, cutting into some of their most trustworthy sales.
Independent dining establishments and bars have actually gone weeks without wings, owners say. Chicken breast prices have more than doubled because the start of the year, and wing costs have hit records, according to market-research firm Urner Barry.
“Weeks without wings?”
Oh the humankind!
If we do not get this crisis under control quickly, the U.S. may not be able to set yet another all-time record for weight problems in 2021.
Propane tanks and chlorine tablets are likewise in short supply. As an outcome, many Americans might not have the ability to enjoy their grills and their pools as they usually do this summertime…
An across the country scarcity of pool items is making chlorine tablets and gas tanks hard to come by and increasing rates right as the summer season technique.
“In this heat, if you do not take care of your pool appropriately algae will start growing,” said David Sarafyan, a pool supply store staff member. “Your swimming pool will practically end up being a swamp.”
Hopefully a minimum of a few of these scarcities will begin to vanish in the weeks ahead.
But if we are seeing this many scarcities throughout a “recovery”, what in the world is our economy going to look like when things begin getting truly bad again?
This need to be a wake up call for everyone, due to the fact that things are going to begin getting truly bad once again a lot sooner than many individuals think.
But for now, Americans are swimming in money thanks to the trillions and trillions of dollars that have actually been showered on them.
All of that money has to go someplace, and unfortunately it is going into a few of the most absurd things imaginable.
My regular readers already understand how I feel about Dogecoin. It is not a “currency” by any stretch of the imagination. I have actually been lured to call it a “collectible”, however usually a “collectible” is something that you can hold in your hands.
A minimum of speculators were chasing after something real throughout “Tulip mania” in 1636 and 1637. Dogecoin is just a lot of digital ones and absolutely nos.
Dogecoin does not have any innate worth whatsoever, but thanks to Elon Musk and a bunch of Reddit fanboys, the cost of Dogecoin is up more than 100 percent this week alone.
For the year, it is up more than 14,000 percent…
That implies an investor who paid in $1,000 on January 1 would now have around $120,000.
This year alone it has actually soared over 14,000%, from $0.00468 on December 31, taking it past more commonly utilized cryptocurrencies such as the Tether stablecoin and XRP to end up being the fourth-largest by market capitalization.
The other day I blogged about something that makes me wish to throw up, and now I think that I have actually discovered something that may make me wish to vomit a lot more.
If you can think it, Dogecoin now has a market capitalization that is higher than Moderna, Ford Motor Company or Twitter…
A market capitalization of $78 billion puts Dogecoin, established in 2013, ahead of other more well established brands and business including Sherwin-Williams which is valued at $75.8 billion; Dell Technologies, worth $75 billion; Moderna, worth $63.1 billion; Ford Motor Business, valued $45.2 billion; and Twitter, value $42.1 billion.
The mascot from Pets.com eventually concerned symbolize the collapse of the dotcom bubble, and I believe that the stupid pet dog on the Dogecoin logo ought to symbolize this current financial bubble when it lastly implodes.
Tomorrow, more keyboard commandos will pour their stimulus look into Dogecoin wanting to get abundant fast.
Those that invested early and get out in time will make a killing. But anyone that does not get out in time is going to take a major bath.
Obviously the specific very same thing could be said for our financial markets as a whole. Everyone understands that a crash is unavoidable, and when it occurs it will be the greatest loss of paper wealth in all of U.S. history.
However for now, speculators appear like geniuses, and happy days are here again on Wall Street.
Enjoy it while it lasts, since it is just a matter of time prior to the bubble bursts, and after that the discomfort will begin.
About the Author: My name is Michael Snyder and my brand name new bookentitled”Lost Prophecies Of The Future Of America”is now offered on Amazon.com. In addition to my brand-new book, I have actually written four others that are offered on Amazon.comconsisting of The Beginning Of The End, Get Prepared Now, and Living A Life That Truly Matters. (#CommissionsEarned) By buying the books you help to support the work that my better half and I are doing, and by providing it to others you assist to multiply the impact that we are having on people all over the world. I have actually published thousands of short articles on The Financial Collapse Blog Site, End Of The American Dreamand One Of The Most Essential News, and the short articles that I release on those sites are republished on dozens of other popular websites all over the world. I always freely and gladly permit others to republish my short articles by themselves sites, but I likewise ask that they include this “About the Author” area with each article. The product contained in this short article is for basic information purposes just, and readers need to seek advice from licensed experts prior to making any legal, business, monetary or health choices. I encourage you to follow me on social media on Facebook, Twitterand Parler, and any method that you can share these posts with others is a fantastic assistance. Throughout these extremely difficult times, people will require hope more than ever in the past, and it is our objective to share the gospel of Jesus Christwith as many people as we possibly can.