Earlier this week, we wrote a post about the current 72.376 million people on social security. Today, Crowdstrike uploaded a patch that crippled computers world wide.
No doubt there will be a deep autopsy into the whole situation but we already know 80% of the issue was rooting in skilled labor shortages.
Over the last 10 years there is greater and greater dependency on more and more complex systems and technology. During that same period, the number of skilled people retiring is exploding.
The issues don’t stop with Crowdstrike. In Texas, a hurricane hit there weeks ago and people are still without power. Why? Shortages of electricians and related workers are the main cause. It is so bad that workers are being threatened for not working fast enough.
Sadly, we are just at the beginning of these types of issues. There are labor shortages in healthcare (doctors, nurses, and other workers), aviation (mechanics, pilots, flight attendants, etc), and the promise of re-shoring manufacturing may be a dream given there aren’t enough workers to go around.
The eventual outcome of all of this without some type of remediation will be massive inflation and shortages of goods and services throughout the country. The worst impacted will be states that can’t attract talent and the least impacted will be those that have better living conditions on offer.
We continue to research these topics and more so stay tuned, stay profitable and stay solvent…