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IPFS News Link • Economy - Recession-Depression

Atlas is Shrugging

• LewRockwell.com - Bionic Mosquito

March, 2020: simultaneously, hundreds of millions of people were forcibly put out of work while at the same time multiple-trillions of dollars were created out of thin air.  What could possibly go wrong when demand is stimulated while supply is depressed?

-The world is experiencing a computer chip shortage…

-Resin shortages are affecting production…

-Seat foam shortage could cut car production…

-Shortages in lumber, steel, electrical supplies and lighting affect the construction industry…

-Skyrocketing steel and lumber costs threaten to slow construction jobs…

-Price increases in fixtures and fittings….

-Oil and gas prices increasing…

-Global food commodity prices rose for the ninth consecutive month in February… 

Add to this, mother nature: Weather slams the economy….

All summed up nicely by the Wall Street Journal:

Everywhere You Look, the Global Supply Chain Is a Mess: Winter storms and crammed ports in the U.S. add to disruptions of production and supplies during the pandemic

Meanwhile, government deficits and central bank balance sheets have the full green light to grow…to infinity and beyond.

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Taken from the Cliffs Notes book summary of Atlas Shrugged:

The country is in a downward economic spiral with businesses closing and men out of work.

Check.

Worsening the economic depression in the U.S. is the unexplained phenomenon of talented men retiring and disappearing.

Not exactly.

None of this is happening in our world because talented men are retiring or disappearing.  It is those believed to be the talented men – that our society rewards as the talented men – that are behind today's reality.


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