Terry Sawchuk on News On with Miranda Khan: Solving the Supply Chain Crisis

Oct 21, 2021 | In the News

Any information discussed in this article is for educational purposes only. It is not meant to be any kind of recommendation or financial advice. The information contained in this video is intended for informational purposes only. Any opinions are those of Terry Sawchuk and not necessarily those of JW Cole Financial, Inc. or JW Cole Advisors, Inc.

Securities offered through J.W. Cole Financial, Inc. (JWC) Member FINRA/SIPC. Advisory services offered through J.W. Cole Advisors, Inc. (JWCA). Sawchuk Wealth and JWC/JWCA are unaffiliated entities.

As more than 2,000 shipping containers remain at a standstill off the coast of Los Angeles, the Biden administration announced a new plan with the goal of solving the supply chain problem: deploying the National Guard. Will this plan work? Or will investors end up paying the price? News On with Miranda Khan turned to Terry Sawchuk, founder and chairman of Sawchuk Wealth, for insight.

“Even if you get all the containers off the ships and onto land, you still need truck drivers to get the merchandise to the stores that need to put them on the shelves. You still need people to get it from the land into the trucks and a variety of other things. We haven’t solved this problem,” says Sawchuk. “The National Guard might help a little but it’s not going to solve the larger issue. We’re just going to have to come to terms that some of the conveniences we are used to having aren’t going to be there for a while.”

While Sawchuk believes that the National Guard will not make a major impact, there are some solutions to the supply chain problem that he thinks seem more viable, and may help solve the labor force issue as well.

“My understanding is that one of the things they are trying to do right now is import long-haul truck drivers from Europe and other parts of the world. I think we are just going to have to bring employees into the United States,” Sawchuk explains.

Click here to watch the entire segment.

 

Any information discussed in this article is for educational purposes only. It is not meant to be any kind of recommendation or financial advice. The information contained in this video is intended for informational purposes only. Any opinions are those of Terry Sawchuk and not necessarily those of JW Cole Financial, Inc. or JW Cole Advisors, Inc.

Securities offered through J.W. Cole Financial, Inc. (JWC) Member FINRA/SIPC. Advisory services offered through J.W. Cole Advisors, Inc. (JWCA). Sawchuk Wealth and JWC/JWCA are unaffiliated entities.