Shortages Of A Few Items Now Will Evolve Into Shortages Of Hundreds Of Products Later In 2022

Shortages Of A Few Items Now Will Evolve Into Shortages Of Hundreds Of Products Later In 2022 and onwards...
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Apr 29, 2022 Source: Epic Economist

The global supply chain crisis is creating chronic shortages of several items we consume on a daily basis. These shortages are leading consumers to turn to other products or brands instead. However, given that the entire system is facing mounting disruptions, the shift in consumer demand is sparking a ripple effect, which is resulting in the emergence of hundreds of other shortages that are likely to intensify and become even more extensive throughout the year. On top of the bottlenecks caused by black swan events such as the health crisis, lockdowns, the conflict between Russia and Ukraine, and a devastating bird flu, natural disasters and factory fires are hitting our domestic supply chains as well, and authorities have never been so worried about a potential collapse in food production.
Even the United Nations is admitting that the whole world is heading to the worst global food crisis since the 1940s. So we must be prepared because those who think that supply chain problems are severe now will be shocked to see what is coming next.
Whenever you go out shopping at your local supermarket, you’ll notice that stockouts and empty shelves are becoming a regular thing. There have been so many product shortfalls since the burst of the health crisis, that many consumers aren’t even surprised anymore when they can’t find the items they want. Right now, we’re experiencing a moment of relative stability in our system given that many of the goods we import are stranded in Chinese ports due to lockdowns. But while that backlog gets bigger and bigger on foreign seas, the amount of goods inside our country is getting increasingly smaller.
For certain categories, chronic shortages have become the new normal. One simple example is the national pet food shortage. Since the second half of 2020, pet food has been in short supply. Recently, it has gotten much worse. Finding canned pet food anywhere in the country has become nearly impossible. There just aren’t enough cheap sources of chicken and turkey around the country due to the bird flu outbreak. So what might look like a minor shortage on the surface is actually a result of a major protein shortage that’s aggravating all over the U.S.
These disruptions underscore just how vulnerable our supply chains are, and Americans are scrambling with fewer choices and sharp price increases. But at least for now, retailers are not imposing purchasing limits or rationing supplies as they’ve been doing in Europe. If record-high food prices weren’t enough. The Russia-Ukraine conflict has shrunk the global supply of essential grains, forcing the largest supermarket in the UK to begin rationing. As retailers panic about sourcing edible oils, it has pushed retail cooking oil prices up over 20%.
Food rationing because of shortages is one of the symptoms of an emerging and potentially catastrophic global food crisis. Russia and Ukraine typically account for approximately a third of global grain exports, particularly wheat. And we have to remember that way before the conflict started we were already facing an unprecedented global food crisis. Food prices are reaching stratospheric levels, and even the corporate-controlled media is doing lots of stories about it. By now, no one can hide the fact that wages aren’t keeping up with the pace of soaring inflation.
Low-income families are already struggling to put food on the table as high food and gas prices take a bigger bite of their already-small paychecks. Unfortunately, we are all going to face unforeseen challenges to make ends meet in the coming months. It is safe to say that those in power are not going to be able to prevent the nightmarish conditions which are rapidly approaching. The stage is set for a national food crisis and a worldwide famine. There is no avoiding that now. These are extremely troubled times, and they are only going to become even more troubled as the global supply chain breakdown causes more damages to the system over the next few months.

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