Why You Should Be Very Worried About The Supply Chain
It’s hanging by a thread and killing the economy
Since the onset of COVID, consumers have been experiencing disruptions in the supply chain. The bad news is that it’s going to get worse.
The media and government don’t want the public to panic when they encounter empty store shelves, but it’s impossible to ignore that the shortages at the grocery store are a serious problem, and becoming too big to hide.
In June, King Yuan Electronics Co, one of the world’s largest chip-testing companies, temporarily suspended operations due to COVID-19 infections at a factory in central Taiwan. The technology world was already struggling with supply chain issues at the time. This exacerbated the shortage of semiconductor chips which has been estimated to cost car manufacturers $210 billion in revenue this year alone. The White House acknowledges that this disruption could knock one full percentage point off the GDP, resulting in waves of shutdowns, and “hurt the hundreds of thousands of U.S. workers employed in manufacturing jobs across the automotive and heavy trucking sectors.”
While chips are needed for many products — including heating and cooling systems, computers, smartphones, appliances, gaming hardware, and medical equipment, it isn’t the only shortage…
