This article was originally published by Michael Snyder at The Economic Collapse Blog.
The truth is starting to come out, and a lot of people aren’t going to like it. When the supply chain problems and the shortages began, government officials repeatedly assured us that they would just be temporary, and most of us believed them.
But now it has become clear that they aren’t going to be temporary at all. In fact, during a recent interview with Bloomberg, U.S. Transportation Secretary Pete Buttigieg admitted that some of the supply chain problems that we are currently facing could last for “years and years”. I don’t know about you, but to me “years and years” sounds like a really long time.
Of course, that is not the only time that Buttigieg has made such a claim. During another recent interview, he used the words “long term” to describe what we are facing…
Buttigieg has said in recent interviews that “it’s an incredibly complicated situation,” but the government is holding virtual “roundtables” with port operators, labor unions and private companies. Nevertheless, he told MSNBC last Thursday, the “challenges” will continue, not only “going into the next year or two, but going into the long term.”
Isn’t it remarkable how the outlook for our economic future has changed so dramatically in just a matter of a few months?
Earlier this year, we were told that we would soon be entering a new golden era of prosperity.
But now inflation and shortages are causing chaos everywhere we look.
Earlier today, I came across a Daily Mail article that boldly declared that “stores across America have empty shelves” right now…
Stores across America have empty shelves thanks to a series in supply chain problems that are prolonging inflation and could stretch into the new year, with some retailers like Costco and Walmart limiting the amount of toilet paper in some stores.
More than 60 cargo ships are waiting to dock in California, carrying hundreds of thousands of containers, and may be stuck for months in a traffic jam after arriving from China and Asia. Millions of dollars of American goods are still sitting in warehouses in China, awaiting shipment.
In addition to the unprecedented backlogs that we are witnessing at our major ports, it has also become far, far more expensive to send products across the Pacific Ocean.
Just check out these numbers…
The Washington Post reported the median cost of shipping a standard container from China to the U.S. West Coast hit a record $20,586. That’s nearly twice what it cost in July, which was twice what it cost in January, according to the Freightos index.
“Consumers are confronting higher prices and shortages of cars, children’s shoes and exercise gear, as the holiday shopping season looms,” the Post said.
That is crazy.
And now the emerging global energy crisis is going to make it even more expensive to move stuff around the planet. On Monday, the price of gasoline in the United States hit a new seven-year high…
The national average price for gasoline hit a fresh seven-year high of $3.27 a gallon on Monday, up by 7 cents in the past week alone, according to AAA. Gas has nearly doubled since bottoming at $1.77 in April 2020.
High gas prices will only exacerbate elevated inflation, squeeze the budgets of American families and hurt President Joe Biden’s political fortunes.
In addition, we just learned that U.S. stockpiles of heating oil have hit a 20 year low…
The U.S. may be heading into winter with the lowest stockpiles of heating oil to meet surging demand in more than two decades.
Inventories of distillates — used as diesel for both transportation and heating oil — are enough to meet 31.2 days of demand, according to the Energy Information Administration. That’s the tightest it has been for this time of the year since 2000.
Unfortunately, global energy supplies are going to get even tighter and prices are going to go even higher in the months ahead.
Needless to say, the big corporations are going to feel forced to pass on rising costs to consumers. In fact, the head of Kraft Heinz says that his company is already doing this…
Miguel Patricio said the international food giant, which makes tomato sauce and baked beans, was putting up prices in several countries.
Unlike in previous years, he said, inflation was “across the board”.
The cost of ingredients such as cereals and oils has pushed global food prices to a 10-year high, according to the UN Food and Agriculture Organisation.
If you are reading this article and you are thinking that this is perfectly setting the stage for many of the scenarios that I have described in my books, you would be 100 percent correct.
We are entering a period of inflation that is going to absolutely shock most people.
In fact, the UN says that the global price of food has already risen more than 32 percent over the past year…
The United Nation’s Food and Agriculture Organization (FAO)’s September food price index – a measure of monthly changes in global food prices – reached 130 points, a level not seen since 2011.
It represents a 32.8 percent increase from September 2020.
I realize that I have thrown a lot of information at you very quickly in this article.
Things are starting to move quite rapidly now, and we are being warned that conditions are going to continue to deteriorate in the months ahead.
And as conditions deteriorate, the American people are going to becoming increasingly restless. Already, polls are showing that Americans are quite dissatisfied with the current state of affairs. Here is one example…
Just 37% of Americans rate the economy as very or fairly good – the lowest percentage since March, and for the second straight month, more than half feel the economy is in bad shape. And most Americans are not convinced that the Biden administration’s domestic agenda would improve the economy.
As I discussed yesterday, our economy is starting to break down on a very basic level.
We have become so dependent on an efficient flow of goods and services, but these days there are breakdowns all over the system.
I would like to tell you that things will get better soon, but I can’t do that.
More supply chain problems are ahead, and some of them are going to be exceptionally painful.
***It is finally here! Michael’s new book entitled “7 Year Apocalypse” is now available in paperback and for the Kindle on Amazon.***
About the Author: My name is Michael Snyder and my brand new book entitled “7 Year Apocalypse” is now available on Amazon.com. In addition to my new book, I have written five other books that are available on Amazon.com including “Lost Prophecies Of The Future Of America”, “The Beginning Of The End”, “Get Prepared Now”, and “Living A Life That Really Matters”. (#CommissionsEarned) By purchasing the books you help to support the work that my wife and I are doing, and by giving it to others you help to multiply the impact that we are having on people all over the globe. I have published thousands of articles on The Economic Collapse Blog, End Of The American Dream, and The Most Important News, and the articles that I publish on those sites are republished on dozens of other prominent websites all over the globe. I always freely and happily allow others to republish my articles on their own websites, but I also ask that they include this “About the Author” section with each article. The material contained in this article is for general information purposes only, and readers should consult licensed professionals before making any legal, business, financial or health decisions. I encourage you to follow me on social media on Facebook and Twitter, and anyway that you can share these articles with others is a great help. During these very challenging times, people will need hope more than ever before, and it is our goal to share the gospel of Jesus Christ with as many people as we possibly can.
boy, I can’t wait to hear the big boys blame everyone else for their management problems that they created, just to justify their jobs and existence
We are not in the Great and Terrible Day of the Lord (Great Tribulation) yet and thanks be to the Lord God as a born again from above I won’t be here to see Him pour out His full indignation upon the wickedness of the world….
but we will see darker days ahead before the Great and Terrible day of the Lord and if you do not know Christ as Lord and Savior when it all goes to hell in a hand basket…remember these words.
A loaf of bread will cost a days wages when it happens…direct from the Revelation of Jesus Christ
Now go and read…
And may the Lord draw you to Christ.
You’re right, the Bible does say that so learn how to make bread.
Stay Quiet Be Smart.
You have a problem there is no Rapture for the church. The Church will go through the Tribulation.Only the Saints are Sealed and those are the 144,000.So get ready to pay the day’s wages for your loaf of bread
I predict the supply chain problems will last until Jan. 2025.
The goods are aboard ships off the California coast; its just that California ports won’t get them unloaded fast enough.
America is perhaps the first nation to ever blockade itself.
The southern border is open for imported drugs and human slaves. They just need to unload in Mexico and bring the stuff across the southern border. No government regulations or taxes that way either. Smugglers are much better at getting goods into the US than our government.
Well at least one part of the supply chain, illegal drugs, is keeping up with no shortages in sight.
Maybe we could get the people managing that part of the supply chain to manage the rest of it as well?
P#ssy, drugs and migrants for organ harvesting will always get in. The criminal gangs have better logistics than the truckers.
We are now in the long emergency. This phase is about hyper competition for energy resources. Because of debt and declining purchasing power, Western economies are struggling to buy oil and gas on the markets as they compete with China ??.
The ships are not going to sail home empty. They need cargo to make money. The US is short of cargo because of the illegal shutdown, as many businesses closed and many employees were lost to government benefits and vaccine mandates. Those ships are not going to dock and unload, and then set off shore again waiting for cargo. They will wait until they get cargo, and then dock to unload and reload. Until US production ramps up, which is unlikely anytime soon, those ships will be sitting there,
Regarding the use of “could potentially….” in the title of this article attributed to a “U.S. Govt. official”. This usage of language by a Demonrat is meaningless. I “could potentially” become a PURPLE PEOPLE EATER, but I won’t. We need to pin these liars down when they obfuscate. The best reporter today is Peter Doocey on Fox because he pins these liars down when they lie to Americans.
Most of this garbage is from China anyways. So who needs it. Let the food rot and the mice chew on the cords. Let that crap made in China stay in those ports. The world should be sick of China selling us their crappy food, crappy electronics etc. I hope China’s economy goes down. STOP SUPPORTING CHINA’S ECONOMY.