Written by Bernie Carr
We’ve had a few articles regarding the recent shortages and of course we hope these shortages are only short-term. But I’ve been reading recently that the problems are even worse than originally thought.
According to the Daily Mail,
There is no immediate end in sight. Inflated COVID unemployment payments ended in September which many hoped would drive a surge in jobs, but the response has been sluggish at best. Last week produced the worst jobs report of Biden’s presidency, with only 194,000 jobs added – far short of the 500,000 that were expected.
Federal Reserve Chairman Jerome Powell predicted last week that the issues will continue into the new year, prolonging inflation and raising prices for American consumers.
SOURCE: The Daily Mail
But let’s not just look at one source.
Pete Buttigieg, the U.S. Transportation Secretary, admitted in an interview with Bloomberg, that some of these supply chain problems being addressed could last for the months and years ahead. This is sounding a lot longer than a short-term problem.
Gas prices at a 7-year high
Gas prices have surged to a seven-year high.
“Last week saw oil prices advance to their highest in seven years, with a barrel of West Texas Intermediate crude oil surpassing the critical $80 per barrel level. The nation’s gas prices were also pushed to their highest since 2014, all on OPEC’s decision not to raise production more than it already agreed to in July,” said Patrick De Haan, head of petroleum analysis for GasBuddy. “The OPEC decision caused an immediate reaction in oil prices, and amidst what is turning into a global energy crunch, motorists are now spending over $400 million more on gasoline every single day than they were just a year ago. The problems continue to relate to a surge in demand as the global economy recovers, combined with deep cuts to production from early in the pandemic. If Americans can’t slow their appetite for fuels, we’ve got no place for prices to go but up.”
Source: GasBuddy.com
Any time gas prices are high, the cost to transport goods rise and the cost gets passed to the consumer. We are facing more price increases on top of the shortages
Buy your Christmas presents now
With the holidays coming up, retail experts are telling us to buy Christmas presents now to avoid disappointments later.
I went to Costco to pick up a few things earlier today and the stocks appeared to be in good shape right now. They were limiting toilet paper and paper towels to one pack per customer. There were some good gift items available. Now is the time to buy them while they are available.
The final word
Since we are now hearing the supply chain problems could stretch for a long time, it is a good idea to stash some supplies of your most used items just in case.
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Bernie Carr is the founder of Apartment Prepper. She has written several books including the best-selling Prepper’s Pocket Guide, Jake and Miller’s Big Adventure, The Penny-Pinching Prepper and How to Prepare for Most Emergencies on a $50 a Month Budget. Bernie’s latest e-book, FRUGAL DIY has just been released on Amazon. Her work appears in sites such as the Allstate Blog and Clark.com, as well as print magazines such as Backwoods Survival Guide and Prepper Survival Guide. She has been featured in national publications such as Fox Business and Popular Mechanics. Learn more about Bernie here.
Photo by M. Clarke
