Biden Economy Plagued By Shortages, Price Hikes - AMAC - The Association of Mature American Citizens

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In recent months many Americans have been left wondering why, under the Biden economy, even basic necessities seem pricier and harder to find
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After the specter of COVID loomed over the holidays last year, Americans are eager for a normal holiday season, but last week, their hopes were dashed yet again. According to the Wall Street Journal, Christmas trees and other seasonal items might be difficult to find and more costly to buy this December. But decorations aren't the only thing that may be missing from the festivities. than ever.

While early pandemic supply shortages were mainly due to panicked shoppers and the hoarding of common goods, almost all products have subsequently been hit by significant supply disruptions, from furniture to used cars. In many ways, the shortages have less to do with a massive supply disruption and more a "perfect storm" of many smaller supply disruptions. While economists are still puzzled about how to solve the shortages, the three most common reasons cited for them are overreliance on international supply chains, shifting demand, and uncertainty over the longevity of the pandemic.

An example from recent history may shed some light on how overreliance on offshore supply chains has led to the current predicament. In 2018, American wellness centers and hospitals were shocked to find a 600% markup on saline I.V. bags, an essential product in the medical industry. The reason for this major increase? Forty-three percent of I.V. bags are made in Puerto Rico. The island had been decimated by Hurricane Maria, and production of the essential medical devices came to a screeching halt for weeks.

This reliance on international shipping for medical products doesn't simply end at I.V. bags. Eighty percent of all pharmaceuticals are produced overseas, mainly in China and India. In 2018, more than 20 percent of all goods imported to the United States came from one country, China. Many of these imports came directly from Wuhan, China, the site of one of the largest shipping centers in the country. These international supply chains are so reliant on efficiency and…
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