The Dallas Cowboys scored in the last minute on Halloween night to defeat the Minnesota Vikings in National Football League (NFL) action. The Cowboys relied on a healthy balance of running and passing, and a little luck, to overcome a good Vikings team. Dallas is off to its best record since 2016. In baseball, the Houston Astros saved themselves from elimination in the World Series defeating Atlanta Braves 9-5. The Series moves back to Houston for games 6 and 7, if needed. The Braves are only one win away from their first World Series title since 1995. The Astros last won the title in 2017.
In other sporting news, NFL champion Tampa Bay lost to New Orleans despite another great performance from their ageless quarterback, Tom Brady. The Cleveland Browns continued what appears to be yet another meltdown after losing to the aging Pittsburgh Steelers. The NBA season has begun and already some teams, and it already seems that seven of their teams have no chance of achieving winning records. Two of them are in big markets, namely Orlando and Houston
U.S. Manufacturing Lags Due to High Prices and Supply Shortages
In a November 1 article in Reuters, manufacturing in the United States slowed in October due in large part to persistent long waits for raw materials. The deciding culprit behind these "record-long" wait times are problems with the so-called supply chain, in which raw materials and other goods arrive via international shipping and then are transported by the rail and trucking industries to manufacturers. According to Reuters, the U.S. economy is "struggling with shortages across industries as global supply chains remain clogged. Supply constraints were worsened by a wave of coronavirus infections driven by the Delta variant over the summer, especially in Southeast Asia. Congestion at ports in China and the United States were also causing delays in getting materials to factories and retailers." These problems are impacting the entire U.S. economy as shortages in materials and transportation delays not only slow production but can lead to increases in prices for goods, an indicator of inflation.
Manufacturers of computers and electronics equipment report that they are suffering severe shortages in materials, which is impacting production of these goods. However, Reuters reports that the industry that has been most negatively impacted by delays and shortages in raw materials is the automobile industry. Problems with the supply chain are not limited to high-end items like cars, either. Makers of common electrical equipment and appliances have also been negatively impacted despite high demand for these items.
Longer wait times for materials leads to higher prices for goods and services, and the increase is paid by consumers. This is not good for households as the current rate of inflation harms business owners, middle and low income families the most since businesses and families cannot adjust as easily to increased prices as individuals with higher incomes.
In related news, according to reports there are nearly ten and a half million unfilled jobs in the U.S. economy right now.
By Brent Haney