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The World Economy Is Suddenly Running Low on Everything

3 Comments

Click the link below the picture

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A year ago, as the pandemic ravaged country after country and economies shuddered, consumers were the ones panic-buying. Today, on the rebound, it’s companies furiously trying to stock up. 

Mattress producers to car manufacturers to aluminum foil makers are buying more material than they need to survive the breakneck speed at which demand for goods is recovering and assuage that primal fear of running out. The frenzy is pushing supply chains to the brink of seizing up. Shortages, transportation bottlenecks, and price spikes are nearing the highest levels in recent memory, raising concern that a supercharged global economy will stoke inflation.

Copper, iron ore, and steel. Corn, coffee, wheat, and soybeans. Lumber, semiconductors, plastic, and cardboard for packaging. The world is seemingly low on all of it. “You name it, and we have a shortage on it,” Tom Linebarger, chairman, and chief executive of engine and generator manufacturer Cummins Inc., said on a call this month. Clients are “trying to get everything they can because they see high demand,” Jennifer Rumsey, the Columbus, Indiana-based company’s president, said. “They think it’s going to extend into next year.”

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Irrigation lines are set up to water almond tree rootstocks in Tulare, California, on April 21.
Photographer: Gary Coronado/Los Angeles Times/Getty Images

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Click the link below for the article:

https://www.bloomberg.com/news/articles/2021-05-17/inflation-rate-2021-and-shortages-companies-panic-buying-as-supplies-run-short

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3 Comments (+add yours?)

  1. renxkyoko
    Jun 07, 2021 @ 17:04:45

    Time to reuse stuff. Almost everything is thrown away.

    Liked by 2 people

    Reply

    • Mohenjo
      Jun 08, 2021 @ 15:39:55

      They are starting to repurpose some of the tons of plastic in the ocean. Plus, there are bacteria that break down plastic. A cure for arthritis would make you a billionaire!

      Liked by 1 person

      Reply

      • renxkyoko
        Jun 08, 2021 @ 15:57:37

        I’ve heard of that ! In the Philippines , plastics are compressed and made into “bricks” that can be used into whatever bricks are used for , like for fences, etc. The Philippins maybe not be as advanced in recycling technology, but I’m glad even farmers, and least educated people are now extremely aware of climate change.

        Like

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