Economy
The Shortages Are Going To Get Worse Later This Year As Global Supply Chains Increasingly Falter – ZeroHedge
Have you noticed that it is a lot harder to get certain things these days? Just recently, someone in my local area was surprised when her appointment to get the windshield on her vehicle fixed was canceled because it wasn’t possible to get a replacement windshield. This was a windshield for a very common vehicle, and normally that wouldn’t be a problem at all. But these are not normal times. Thanks to several factors that I will detail in this article, global supply chains are now under more strain than we have ever seen in the post-World War II era, and unfortunately it appears that things are going to get even worse as we approach the holiday season.
The World Economy’s Supply Chain Problem Keeps Getting Worse – Bloomberg
A supply chain crunch that was meant to be temporary now looks like it will last well into next year as the surging delta variant upends factory production in Asia and disrupts shipping, posing more shocks to the world economy.
Manufacturers reeling from shortages of key components and higher raw material and energy costs are being forced into bidding wars to get space on vessels, pushing freight rates to records and prompting some exporters to raise prices or simply cancel shipments altogether.
“We can’t get enough components, we can’t get containers, costs have been driven up tremendously,” said Christopher Tse, chief executive officer of Hong Kong-based Musical Electronics Ltd., which makes consumer products from Bluetooth speakers to Rubik’s Cubes.
Tse said the cost of magnets used in the puzzle toy have risen by about 50% since March, increasing the production cost by about 7%. “I don’t know if we can make money from Rubik’s Cubes because prices keep changing.”
Alphabet’s drone delivery service Wing hits 100,000 deliveries milestone – The Verge
Wing, the drone delivery company operated by Google-parent Alphabet, is about to rack up 100,000 deliveries. The company says it will pass the threshold in the next few days, a significant milestone for a technology that has nevertheless yet to prove its utility at scale.
Drone deliveries began to catch the public imagination in the early 2010s as consumer quadcopters fell in price and AI control systems became more reliable. Then, in 2013, Amazon made wild promises about making drones a standard part of its delivery empire. But so far the technology has mainly found success at a much smaller scale: delivering high-value but physically small items like vaccines and blood in remote locations.
Wing’s success, though, hints that one future for drone deliveries might lie in the suburbs.
McDonald’s has run out of milkshakes in the UK – CNN
McDonald’s has been forced to stop selling milkshakes and bottled drinks at nearly 1,300 restaurants in the United Kingdom as Brexit-related staff shortages and supply chain delays caused by the pandemic continue to slam companies.
Environment
Swift action on climate change can help India gain $11 trillion by 2070 – Quartz
A gigantic climate crisis has an opportunity for the struggling Indian economy—if the government plays its cards right.
India could gain $11 trillion (Rs810 lakh crore) in economic value in the next 50 years by limiting the rising global temperatures and realising its potential to “export decarbonisation” to the world, a recent report from Deloitte Economics Institute has said. Decarbonisation refers to the process of minimising carbon intensity by reducing the amount of greenhouse gas emissions produced by the burning of fossil fuels.
Health
Delta Air Lines to Impose $200 Monthly Charge on Unvaccinated Employees, Add Testing Requirements – WSJ
Delta Air Lines Inc. pivoted to a more-punitive approach toward getting its workforce vaccinated against Covid-19, saying unvaccinated workers will pay a $200 monthly health insurance surcharge and could lose pay protection for missing work due to the disease.
The moves reflect a new front in companies’ efforts to keep employees safe and working. Until now, many employers had used incentives, such as cash bonuses, to motivate workers to get vaccinated, or have mandated vaccinations.
Delta’s approach instead focuses on the financial burden of Covid-19 and aims to transfer it to those resisting vaccination. Studies show vaccination greatly reduces the risk of severe disease or death from the disease.
NYPD’s largest police union vows to sue over possible COVID vaccine mandate – NY Post
The Big Apple’s largest police union told its members Wednesday that it would sue the city if cops are required to get the COVID-19 vaccine, The Post has learned.
“If the City attempts to impose a vaccine mandate on PBA members, we will take legal action to defend our members’ right to make such personal medical decisions,” Police Benevolent Association President Patrick Lynch wrote in an email.
The post Daily Digest 8/26 — Shortages Are Going to Get Worse Later This Year; Delta Air Lines to Impose $200 Monthly Charge on Unvaccinated Employees… appeared first on Peak Prosperity.
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