Semiconductor Apocalypse Could Send Economic Shockwaves Across U.S.
PNW- America is about to see a drastic rise in the price of consumer goods from food to technology. I've written a great deal about the coming food shortage and the increase in prices for essential items. However, much less attention has been given to the rise in other items.
One potential problem is the cost of semiconductors. Unbeknownst to many Americans, and this is partly why consumer spending is doing as good as it is (though doing terribly), there has been a recent semiconductor price surge.
The cost of semiconductors is going to begin showing up in other consumer products. Which will, of course, send shockwaves through the economy as consumer confidence and spending will start to drop even further.
Microchips are the brain of basically every electronic device, and we're running out of them.
Global chip shortage is a massive problem for a world increasingly dependent on technology.
For the United States, the chip shortage is a huge problem. Currently, the surge in chip prices has not affected consumers directly. The stimulus money being injected into the economy has been able to keep spending up as well. But that's going to change.
While the average person may not see the importance of semiconductors and their prices on the economy, both Trump and Biden's administrations have acknowledged the issue as one of National Security. In July 2017, Trump signed an Executive Order regarding the security of U.S. supply chains caused by decades of deindustrialization, Free Trade, and lopsided trade policy.
Shortage prompts Biden to order $37 billion to review supply chain shortages
President Biden recently signed an executive order calling for a review of the global supply chains. Below are his comments at the signing regarding the semiconductor.....READ MORE
Keeping You Informed of World Events From A Biblical Perspective