Why are companies all over the world suddenly desperate for workers? In my entire life I have never seen anything like this.
When the labor shortage started in the United States, a lot of people blamed overly generous government handouts, but that doesn’t explain why the exact same thing is happening in nation after nation all over the globe. There aren’t enough factory workers, there aren’t enough truck drivers, there aren’t enough port workers, there aren’t enough employees to properly staff our stores, and the shortage of doctors and nurses is becoming a major crisis in some areas.
During normal times, we were always told that the global economy was not producing nearly enough jobs for everyone, but now for the very first time we are facing an enormous worldwide labor shortage. It is almost as if millions upon millions of people suddenly disappeared from the system.
Earlier today, I was stunned to learn that a new survey has discovered that 69 percent of global companies are having a hard time finding enough people to hire …
Just a few years ago, any company that was willing to pay decent wages would be absolutely flooded by job applications. …
Normally, global supply chains run as smooth as butter, but now they are in a complete and utter state of chaos.
And the biggest reason why they are in a complete and utter state of chaos is because there simply is not enough workers for them to operate as they usually would.
The big reason is inflation of the money supply. There is so much new money floating around, enough of which has reached ordinary people, that many cannot be bothered working at the wages being offered.
Suppose, as a thought experiment, that everyone wakes up tomorrow to find $100 million under their pillow — a gift from who knows where. Not many people would still go to work, would they? But prices would quickly rise as everyone outbid each other for goods and services. Eventually prices would rise so tremendously that people would need to go back to work again. But all prices in the economy, including wages, would be much higher.
The real world is currently in the period after a great expansion in money supply, but before the prices have risen to reflect the amount of money in the economy. Ergo, price inflation is in store.
The little reason is that covid and long covid have literally removed a lot of people from the workforce.