They keep telling us that economic conditions are improving, but if that is true why are the shortages worse than ever? For a moment, I would like to take you all the way back to 2019. Before the pandemic came along, we didn’t have any shortages. If you wanted something, you just went to the store and got it or you ordered it online. Prices were low, global supply chains were functioning smoothly, and to most people it seemed like it would stay that way for the foreseeable future. But then the pandemic hit, and “panic buying” caused short-term shortages of certain items such as toilet paper and hand sanitizer. It was understandable that people would want to hoard those things, because there was a lot of fear in the air. But we also knew that those shortages were only going to be temporary.
Now here we are in 2021, and we were told that things would be getting back to normal by now.
But instead, there are severe shortages everywhere around us.
In fact, the shortages are far worse than anything that we experienced in 2020.
For example, did you know that dozens of important drugs are in short supply? According to the official FDA website, there are shortages of more than 100 drugs in the United States right now…
If you found yourself in a situation like this, you can check the FDA’s drug shortage tracking system.
Right now there are currently about 120 drugs listed as having a shortage.
On the website, if you type in a drug name in the database search field you can see if and why it’s in short supply. You can also see whether it is scheduled to be discontinued, and when the supply may start flowing again.
This wasn’t supposed to happen.
Shortages just continue to get worse for the home building industry as well…
“Builders are delaying starting new construction because of the marked increase in costs for lumber and other inputs,” said Mike Fratantoni, senior vice president and chief economist with the Mortgage Bankers Association, in a report Tuesday.
He added that supply shortages for appliances are also putting a damper on new home building activity.
Just over our northern border, the shortages have gotten really severe. In some cases, the construction of homes “is months behind schedule” because the shortages have gotten so bad… – READ MORE
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