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.
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As of Wednesday, October 13, gas prices have officially reached a seven-year high. At the same time, food prices around the world are now at a ten-year high. With supply chain shortages and prices continuing to rise as we head into the holiday season, Real America’s Voice interviewed Terry Sawchuk, founder and chairman of Sawchuk Wealth, for insight on the U.S.’s current supply and demand issue.
“This isn’t just a supply chain issue, this is a potential national security issue,” Sawchuk tells the Real America’s Voice’s Miranda Khan. “It’s not just stuff for Christmas we are worried about, it’s food and drugs. By the way, this isn’t going to get solved overnight. This is something that has been in the works for probably twenty to thirty years – COVID was just the catalyst for where we are right now.”
Adding to the long list of issues currently plaguing investors, a record number of 4.3 million workers quit their jobs in August, with the two industries hit the hardest being food and retail. Real America’s Voice again turned to Sawchuk to learn about what this may mean for the workforce.
The combination of people who are not coming back to the workforce because they are scared coupled with baby boomers that have decided they have had enough, we aren’t going to replace these workers anytime soon,” explains Sawchuk. “This is another challenge that has been months in the making and in some cases, because of demographics, years in the making.”
Click here to watch the entire Real America’s Voice segment.