Global supply lines continue to come under duress as lingering effects of the COVID-19 pandemic remain and as new shutdowns occur thanks to the spread of the delta variant.
"The vast network of ports, container vessels and trucking companies that moves goods around the world is badly tangled, and the cost of shipping is skyrocketing. That's troubling news for retailers and holiday shoppers," CNN reported late last week.
"More than 18 months into the pandemic, the disruption to global supply chains is getting worse, spurring shortages of consumer products and making it more expensive for companies to ship goods where they're needed," the network added.
In addition to the cornucopia of issues that are preventing the global supply chain, which was established over decades, from recovering from the pandemic, another fact is emerging: Consumers everywhere are going to be paying higher prices for just about everything, and for Americans, that's bad because inflationary pressures were already high due to the rampant, irresponsible spending by a Democrat-controlled Congress and a mind-addled President Joe Biden.
Some companies are already beginning to warn of shortages including Hasbro, Adidas and Crocs, the footwear company, meaning that despite higher prices, there's no way some of these companies are going to earn the kind of income they need to remain viable, especially those whose profits were greatly reduced during the pandemic and were already teetering on the edge of solvency.
"The pressures on global supply chains have not eased, and we do not expect them to any time soon," Bob Biesterfeld, the CEO of C.H. Robinson, one of the world's largest logistics firms, told CNN.