White House officials, scrambling to relieve global supply bottlenecks choking U.S. ports, highways and railways, warn that Americans may face higher prices and some empty shelves this Christmas season.
Across America and all across Europe, store shelves are starting to empty themselves out as a global government-created supply chain crisis is preventing hundreds of thousands of shipping containers from being unloaded at various worldwide ports. Evidentially, the New World Order has a very deep bag of tricks, you might want to start now and stock up on the essentials this winter. COVID rates are dropping fast so they needed a new calamity to keep you locked down, the supply chain crisis is it.
"Moreover he called for a famine upon the land: he brake the whole staff of bread." Psalm 105:16 (KJB)
For the items you are still able to purchase, the price of goods is escalating quickly, as inflation soaring up 23.9% with no end in sight. Communist China is doing whatever they wish, America is no longer either a threat or competition to their dreams of global dominance. Just days after Joe Biden boasted about suspending drilling in Alaska, the White House is now begging oil suppliers to lower their prices. Such is life in the New World Order, welcome to the Biden Clown Show. It would be pretty funny if it wasn't so deadly serious.
'There will be things that people can't get,' at Christmas, White House warns
FROM REUTERS: The supply crisis, driven in part by the global COVID-19 pandemic, not only threatens to dampen U.S. spending at a critical time, it also poses a political risk for President Joe Biden. The latest Reuters/Ipsos poll shows the economy continues to be the most important issue for Democrats and Republicans alike.
The White House has been trying to tackle inflation-inducing supply bottlenecks of everything from meat to semiconductors, and formed a task force in June that meets weekly and named a "bottleneck" czar to push private-sector companies to ease snarls. Biden himself plans to meet with top executives from retail giants Wal-Mart Inc (WMT.N) and Home Depot Inc (HD.N) and with unions and other stakeholders on Wednesday to discuss efforts to relieve transportation bottlenecks before delivering a speech on the topic.
Supply chain woes are weighing on retail and transportation companies, which recently issued a series of downbeat earnings outlooks. Meanwhile, the Federal Reserve last month predicted a 2021 inflation rate of 4.2%, well above its 2% target. American consumers, unused to empty store shelves, may need to be flexible and patient, White House officials said.
"There will be things that people can't get," a senior White House official told Reuters, when asked about holiday shopping.
"At the same time, a lot of these goods are hopefully substitutable by other things. ... I don't think there's any real reason to be panicked, but we all feel the frustration and there's a certain need for patience to help get through a relatively short period of time."
Inflation is eating into wages. Labor Department data shows that Americans made 0.9% less per hour on average in August than they did one year prior. The White House argues inflation is a sign that their decision to provide historic support to small businesses and households, through $1.9 trillion in COVID-19 relief funding, worked. U.S. consumer demand stayed strong, outpacing global rivals, and the Biden administration expects the overall economy to grow at 7.1%, as inflation reaches its highest levels since the 1980s.
"We recognize that it has pinched families who are trying to get back to some semblance of normalcy as we move into the later stages of the pandemic," said a second senior White House official. READ MORE
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