The Guardian: ‘A perfect storm’: supply chain crisis could blow world economy off course
From Liverpool to LA, shortages of energy, labour and transport are threatening recovery from Covid t was all going so well.
Successful vaccination programmes were driving the post-pandemic recovery of the global economy, stock markets were back at record highs, and prices were rising just enough to make deflation fears a thing of the past.
But a supply crunch that initially put a question mark over the availability of luxury cars or whether there would be enough PlayStations under our Christmas trees is instead morphing into a full-blown crisis featuring a shortage of energy, labour and transport from Liverpool to Los Angeles, and from Qingdao to Queensland.
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Update: Shortages and Inflation Are Ripping the World’s Face Off (The Great Recession Blog)
WNU Editor: Here is an easy prediction. I see this "perfect storm" of global economic bad news continuing for the foreseeable future.
And while I am concerned on what will happen next, my biggest worry is on what is happening in China right now.
Talked earlier today to a good friend who lives there. He just turned 40, and he has lived his entire adult life in an economy that was always booming.
No more now.
He sees everything is slowing down, and he tells me that among his family, friends, and business contacts there is a fear in China that hard times are coming.
He also tells me that the Chinese government is now cracking down hard on everyone. His gut tells him that Beijing has accepted the very real possibility of unrest this winter, and they are getting ready for it..
