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Sold Out: How Broken Supply Chains, Surging Inflation, and Political Instability Will Sink the Global Economy
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About Sold Out: How Broken Supply Chains, Surging
Product Description From the man who predicted the worst economic crisis in US history comes Jim Rickards’ second prediction – the collapse of our global economy. The supply chain crisis is coming to a head. Today, your favorite products are missing from store shelves, caught in supply chain limbo somewhere in the Pacific Ocean. But what does this supply chain disruption look like six months, or even three years, from now? While we hope that post-pandemic recovery will absolve these issues, the reality is that digital currency, meme stonks, and social media can’t solve the age-old problem of producing and moving physical goods across oceans and continents. According to Jim Rickards, consumer frustration is only the tip of a very large, menacing iceberg that threatens global economic collapse. In Sold Out, Rickards shares his predictions for our post-pandemic future and outlines how consumers and business owners can get ahead of the collapse. You’ll learn how energy shortages in China – fueled by the trade war with Australia – are disrupting the steel market and forcing entire factories to shut down. You’ll also learn how rising inflation will ultimately lead to deflation in a few short years – as consumer spending eventually tanks due to higher taxes, excessive debt, and increased layoffs – and why such economic conditions will closely resemble the 1930s. Finally, Rickards will look at the future of money, including the erasure of the American dollar itself. Our global economy faces unprecedented challenges in the next few months. But whether we sink or swim depends on how prepared we are – and what we do now to thwart the coming collapse. Review PRAISE FOR THE WORKS OF JAMES RICKARDS “The author argues persuasively…[and] offers an eminently sensible (though costly and surely difficult) solution…An alarming but not alarmist book that deserves serious attention from economists and policymakers.” —Kirkus Reviews “Rickards provides a wonderful antidote to some of the insanity too often evident around the study of monetary questions...A valuable contribution to our economic discourse. One can but hope that our senators and representatives find their way to it.” —Forbes “A bracing collection of salvos...Let’s just hope that the next thirty years are less bleak than Mr. Rickards expects.” —The Financial Times “Rickards has gone and done it again.” —Wealth Briefing Asia “One of the scariest books I’ve read this year... [Rickards’s] intelligent reasoning soon convinced me that we have more to fear than fear itself. The pieces, although disparate, fit together snugly, as in one of those mystery jigsaw puzzles that come with clues in lieu of cover art. The picture that emerges is dark yet comprehensive and satisfying.” —Bloomberg Businessweek “What we assumed was firm ground under our feet is more like the narrowing point of a precipice.” —Charles A. Duelfer, former special adviser to the director of the CIA, author of Hide and Seek: The Search for Truth in Iraq About the Author James Rickards is the Editor of Strategic Intelligence, a financial newsletter, and the bestselling author of The New Great Depression, Aftermath, The Road to Ruin, and many more. He is an investment advisor, lawyer, inventor, and economist, and has held senior positions at Citibank, Long-Term Capital Management, and Caxton Associates. Excerpt. © Reprinted by permission. All rights reserved. Chapter One The Shelves Are Bare One of the bedrock characteristics of disruptions is that they are almost never the result of a single failure. A large-scale disruption is usually the result of a confluence of several factors. . . . There are typically many signs that a disruption is about to take place. -Yossi Sheffi The Resilient Enterprise The Endless Supply Chain Supply chains are not part of the economy. They are the economy. It's impossible to think of any commodity, process, or finished product that's not part of a supply chain. This precept ap
