It isn’t rocket science to acknowledge we’re experiencing a shortage of many things these days…
Labor…
For months we’ve heard employers bemoan they simply can’t find enough people to work. Labor experts tell us workers haven’t returned after the onset of the pandemic; some lost their jobs; some retired early; some quit because — according to a recent Indeed survey — “life is too short to stay in a job” they aren’t passionate about. I spoke this week, in fact, with a friend attempting to hire an administrative medical professional at their small business. After a thorough screening process, four interviews were scheduled; zero applicants showed up. America’s labor is in increasingly short supply.
Groceries and household goods…
I’ve tried to get an accurate read in regard to what’s actually scarce. Reviewing the analysis of multiple market experts, it seems grocers are challenged to fully stock the following: bacon, beef, bottled water, bread, canned pumpkin, canned vegetables, carbonated drinks, chicken, cooking oil, evaporated milk, frozen meals, juice boxes, ketchup packets, liquor, Lunchables, oat milk, paper towels, pasta, pasta sauce, pet food, tofu, toilet paper, tomato paste, and turkey. The list continues to soar. Says Jim Dudlicek, a representative for the National Grocers Association, there simply aren’t enough people to “make the goods, move the goods and sell the goods.” America’s groceries are in increasingly short supply.
There are more things in which we are experiencing a shortage… rubber, lumber, even blood. Housing is a challenge. Diapers. New cars. Noting Christmas is coming, gaming consoles are also in short supply. (Sorry, PlayStation, Xbox, and Nintendo fans. Being naughty or nice isn’t going to matter this year.)
In all these things, not only is less available but we are paying significantly more…
Groceries are higher than they were just a year ago…
Steaks are up 24.9%. Eggs are 11.6% more expensive. Chicken, 8.8%. Cereal, 5%. Baby food, 7.9%. Other prices — rent, cars, gas, energy — they’re up at least 6.2% in one year’s time. [Note: all percentages reported by the Bureau of Labor Statistics.] As said, it isn’t rocket science to see we have a problem.
So what are we to do?
To be clear, we’re experiencing the highest annual rate of inflation we’ve seen in 30 years. Again, it’s not rocket science, but something’s wrong. Inflation is a general increase in prices accompanied by a decrease in the purchasing power or value of money. That’s part of the concern with the government attempting to infuse more money into the economy right now. More money won’t change the amount of goods available; but if the money supply increases faster than output — which is why the labor shortage is significant — inflation may become even worse.
So back to what we’re to do…
I’ll be honest. I’m no economist. The Intramuralist has taken graduate level Econ classes; however, such does not qualify me as anything close to an expert. I have so much to learn.
Next I would like our leaders and politicians to also acknowledge they are not experts.
It’s amazing what happens when we admit our lack of expertise. We become a little more humble… a little less emboldened in our speech… a little less convinced we have the only right way… and a little more considerate of other people. We also start to listen to the persons who actually are experts.
I would thus like us to put all partisanship aside.
If we are going to solve the burgeoning inflationary and supply chain problems, we need to stop jockeying for political party wins. We need to stop promoting one-sided, long-craved-for agendas, acting as if all of a sudden, partisan legislation is a creative solution to the inflationary problem; each party justifies spending way too partisan much. We need to pause. Adjust. And deal with the current, increasing, intensifying problem. If we are going to deal with what the American people most need now — addressing the very real shortages we are experiencing — partisan agendas must cease.
That, my friends, isn’t rocket science.
Respectfully…
AR