The global supply chain nightmare is getting worse!
Inflation, higher interest rates, lack of products!
Are you prepared?
There are rising economic concerns as our world supply chain is breaking. If you aren't feeling the effect of this yet...you will. Everyone will!
Although we don't have a crystal ball, I listen to those who have an excellent track record of gathering information, accurately predicting and providing great advice on preparing. The CEO of our business called his second company wide meeting in 7 weeks to address the entire field to talk about the seriousness of our economic status.
It's NOT good. Yet, we can prepare and lessen the negative effects if we understand the problems and what we can do.
7 weeks ago, our CEO predicted two things:
I) There will be a shortage of supply that hasn’t been seen since the Great Depression.
2) We are going to see inflation like we’ve never experienced in our lifetime.
Executive Director of the Port of Los Angeles, Gene Seroka, says container ships are waiting an average of ten days to unload cargo.
He says, "it's like taking ten lanes of freeway traffic and moving them into five."
The evidence is all around us.
Oil prices are up more than 200% compared to last year.
Lumber prices are up almost 300%.
Paper prices are up 40%.
Copper prices are at an all-time high.
Last month the average cost of a new car skyrocketed to about $40,000.
Even the price of used cars is going through the roof. The average price of a used car now tops $20,000.
Pick-up trucks are in short supply.
Shipping rates are as much as 50% higher.
Employers are struggling to get workers, resulting in millions of businesses being forced out of business forever. Once the doors are closed, there will not be jobs to offer.
6 months ago, the cost of shipping one container from Asia to the United States was $3800. Today, it’s $22,000.
From $3800 to $22000 in just 6 months.
Food prices and daily necessity prices are rising.
Supply and demand determine price. Currently, we have enormous demand and shortages of supplies.
So what can we do?
Stock up on food. A 3 month supply would be great, but if you can’t do three months, then do two months, or perhaps just one. It’s nice to have a little extra on hand to share with the neighbors if the stores run out of something. Be careful to not store items that will spoil. Canned goods. Foods that you can freeze. And be sure to rotate your stock. And take it easy on the toilet paper!
If you are currently unemployed, get back to work. There are currently 10.4 million job openings. 4.3 million people quit their jobs because of subsidies. 7.7 million people are unemployed and most are claiming unemployment. This is creating havoc in the economy and in the supply chain.
Consider a "Plan B" for your finances. Having a "side hustle" to bring in extra income could be a great way to increase your income. Look for side hustles that do not require a huge investment and that provide a residual income that will continue to come regardless of the state of the economy.
If you have a mortgage, if it is a variable interest rate, change that mortgage to a fixed rate. With interest rates rising, you do not want to get caught having to pay enormous interest, which could potentially cause you to suffer financially or maybe even lose your home.
More and more people are becoming disconnected from who they really are. Instead of being loving and kind towards ourselves, we're harsh and critical. We push ourselves to be and do what we think is expected of us ... and that is a tough place to be.
I know what's it like to be in that place because I've been there and I've struggled to stand confidently in the truth of who I was and to declare what mattered most to me.
In my late-20s I had a defining moment that jolted me into looking at life with fresh eyes and I started to think about who I was and what living well meant to me.
Bit by bit and lesson by lesson, I started to understand myself better than ever before. I allowed myself to reconnect with who I am and to the dreams that I'd buried deep. The lesson that stood out for me the most at this time was the realisation that the quality of my health depended on whether I was being me and living my real life.
When I saw and understood the link between my health and who I was trying to be and how I was living, I fully committed to living well and helping others do that too.
The result...I am living the life of my dreams. Healthy, Debt Free, Happy, Making a Difference and Looking Forward to EVERY New day!
I hope you enjoy what I share and that it makes a positive impact in your life!
You are meant to live well, love well and lead well!