Has The World Really Run Out Of Everything?

As inflation continues to rise, courtesy of the Biden administration, so do reports of product shortages. But is it really a shortage of product? Or a shortage of profit?

"There may some businesses out there that might be using it as an excuse to raise prices" said Professor of economics at Lone Star College Hank Lewis. " This perception is reality thing can influence some consumers, and so any consumer needs to use their brain and do some due diligence."

There are legitimate issues with computer chips, which have hit the auto industry. "It's because the manufacturers of computer chips cut their production due to reduced orders (during the pandemic). The end result is we're going to have higher prices for new cars, and higher prices for used cars" Lewis told KTRH.

But as for shortages? It's not so much a supply issue, but more of a supply chain problem.

So is this really, all about driving up sales and recouping lost profits? Lewis says maybe. "The major issue is not so much to scare people or businesses, as to re-think some of their models."

Either way, inflation continues to rise, and everyone seems to be jumping on the band-wagon.

"There is talk about the entire world not being back to something resembling normal until 2024" Lewis also told KTRH. Bottom line? "We're going to see higher prices in the short term."

West Coast Ports Remain Closed Amid Labor Dispute

Sponsored Content

Sponsored Content