(10/8/21) SHIPMENTS ARE TWISTING IN THE WIND

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Ports throughout the United States and around the world are backed up with cargo ships ready to unload but a lack of dock workers, cargo containers, truck drivers, rail cars and warehouse workers have goods needed for this fall as well as Christmas twisting in the wind. There is no centralized decision maker nor a meaningful way to stress test the entire global supply chain. This leaves us extremely vulnerable to supply shortages. So, when you hear officials say that inflation spikes are temporary you should look at them side eyed.

We've all seen the effects of panic buying during the pandemic when there was a run on gas, guns, bullets, bottled water, hand sanitizer and clorox. Countless manufacturers had goods on hand but no way to deliver them to stores for consumers. So, shoppers combed aisles at their favorite stores looking for these coveted essentials and when they found these items available they bought them for themselves, family members, friends and neighbors. This only made the problem worse. Millions of Americans are sitting on surplus supplies.

Recently inflation reached a 13 year high at 5.4%. I am sure you are not surprised. you've sen your favorite products like bacon, eggs, milk, bread and cereal reach all time highs. But we are also seeing higher prices for the raw materials needed for the production of cell phones, cars, washing machines, treadmills, video game consoles, clothes, shoes, televisions and microwaves. So, while bottlenecks in the supply chain continue to put a strain on the flow of goods demand will only grow stronger during the upcoming holiday season.

It's costing more to ship goods. natural disasters like Hurrican Ida shutdown deliveries in the gulf. The fiasco in the Suez Canal where a cargo ship was stuck forced travel further south to deliver supplies from China to the United States. All these issues have a trickle down effect. So, what are usually nominal prices for manufacturers and consumers because longer storage equal higher prices. Terminal Operators are the benefactors but at a cost to consumers.

Futher issues show that there is a shortage of over 60,000 truck drivers and more than 10 million job openings. Workers are requiring higher pay and even signing bonuses to join companies. This is causing a precipitous increase in the cost of goods that will ultimately be passed on to consumers.

So, here are some things that we are able to do:
1. Don't panic buy but get the things you need.
2. Buy alternative products or substitutes for poplar items.
3. Shop locally to support area businesses.
4. Expect more warehouses for local and regional storage.

Stay tuned for more information.

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🚧Note that the information provided in this YouTube video is for entertainment purposes only. Please seek the professional advise of a CPA, attorney, insurance, contractor, lender, or financial advisor based on your needs. It is your responsibility to complete your own research. Estate planning, tax, legal, financial advice, insurance and other info may have changed or be inaccurate. Any use of other media is by fair-use or license only.
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Видео (10/8/21) SHIPMENTS ARE TWISTING IN THE WIND канала Just Tony - Get The Money!