Virus-Related Supply Chain Disruptions to Get Much Worse, MIT's Sheffi Warns
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- Опубликовано: 6 июл 2024
- Feb.27 -- Yossi Sheffi, director of the MIT Center for Transportation and Logistics (MIT CTL), discusses the threat to global supply chains posed by the coronavirus outbreak. He speaks with Bloomberg's Scarlet Fu and Joe Weisenthal on "Bloomberg Markets: What'd You Miss?"
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I hope that consumables like food, medication, medical supplies ect. have priority... the world doesn’t immediately need more cars, shoes, clothes, or ikea furniture.
Hopefully they aren't they stupid. Buuuttttt....
It depends on the state's. China like many other nations have the cluster effect. Where many company clump together to have a easier channel. That said depend on the area that have factories starting up, and which area still closed.
If they have a medical factory outside zone, they will be working over time, if not for anything else for the money they will be racking up.
Add cellphones to that list
True
But to purchase those things, people need jobs. Jobs that involve manufacturing cars, shoes, clothes, and ikea furniture.
The commentators need to SHUT UP and let the guest speak WITHOUT INTERRUPTING.
n2meows - agree!
definetely
make you wonder WHY they invite him!! I wish he would scream SHUT THE FUK UP and let me talk, that's why you asked me to come!!
The talking heads on these financial channels seem to think that speaking quickly indicates intelligence and shouting in a loud voice indicates confidence. The opinions that they hold of themselves is evident in the rude manner in which they treat their clearly more-credentialed guests.
This is the news.
This is a guy with HIGH knowledge in the big picture. I hate the fact that he is constantly interrupted or interfered by the two journalists.
Those aren't journalists, they're more like "narrative specialists". Their job is to create the image of journalism, but primarily it's tomake sure that the guests don't say anything that goes beyond what the super rich want people to hear.
ngc 4594 👏👏👏👏👏👏
@@ngc-ho1xd yup this man knows. i was gonna say the same, but he said it more intellectually
@@gypsypath1 can't blame them tho, their jobs on the line
David Zhao True; hard to get food when no money’s coming in!
A lot of companies are going to go out of business before this is all over.
surely...
Thinning the herd. Healthy ones survive and will thrive even more going forward.
Sad to say but true effects of globalization
Only the little companies will go out of business.....the big corporations will be bailed out.
@Mr Choo So sad!
This guy knows how to see the real deal -- great!
Shortages going on here in Australia already, local electricians unable to complete air conditioning repairs due to no parts same some cars...it's definitely biting already
No masks available to the public
On top of running into issues now, once the Chinese factories ramp up there will be an additional lag of the items being shipped. Unless you want to pay for air freight that'll add a month or two.
Tried to buy agricultural mask cartridges and disposable spray suits from our regular supplier two days ago. We were told they could not supply for 5 to 6 months. This was just a small regular order.
Suspect problems may be closer than we think.
But then again we only produce fruit, not something important like video games.
@@waitakiorchards743 made me chuckle
You're in New Zealand ...Waitaiki?
Yeah, there won't be a next time mate, that's what I would have said to him. People dying of a Pandemic is not an upbeat subject.
@@waitakiorchards743 "fruit, not something important like video games" your comment make me laugh, sorry 🤣
2008 was vastly different from this.
Not as bad either.
Yeah we didn't have a pandemic to go along with it.
Yeah, 700,000,000 people didn’t die
"no shortages yet, there's alot of inventory... "
I import from China to the U. S.
We increased stock levels over previous years significantly before Christmas due to an earlier CNY this year. Right now, end of Feb, is the time we expect to be mid production and shipping in a couple of weeks. As it stands in China, the workers in our suppliers factories will not be back until mid-March (fingers crossed) so we face stock shortages probably end of March, mid-April.
Different businesses with different products & possibly also province dependant, will all see differing timeframe issues in supply delay but I believe End of March will see an abrupt & significant effect at the end consumer level across many consumerables.
Very much so.
Question is, which way we handle this. More company bailouts, because they constantly make bad decisions for profit.
Or do we make the move to MMT an invest in the American people over share holders. An fix the whole broken system.
Maybe we just go full Mad Max an those with resources hold all the power. An as long as I got mine, we condone it.
@@deadwingdomain you forgot that humans are not altruistic.
4:43 "phantom orders" sounds exactly like how all health care billing is done.
Trump needs to allow Americans to manufacture the things Americans need. There are millions of vacant buildings that could be converted. Stop sending trillions to support foreign countries and take care of America and Americans
Khali Khali , in your dreams my friend, all presidents are the same, they work for the banks and the Fed, people will loose while the bankers get all the money they want.
capitalism doesn't work that way.
Vote Bernie Sanders. Capitalism can't do what you're asking you need to command the economy from a centralized position like China.
I hope this will push work from home jobs.
give me a more upbeat introduction...lmfao
What is he chatting about lol. Very odd
I like this guy!
That was funny stuff
The only map where Africa is least affected by some terrible phenomenon.
Need to look after farming for a change......because you can’t eat gold and you can’t drink oil .
Food and water supply is going to be most important thing going forward as we all need to eat everyday.
Climatic changes globally are making it hard for farmers to produce big/ good quality crops.
Take a quick look round the world: Bushfires, locusts, flooding,shorter growing seasons, soil erosion, is all making it difficult to produce.
We may have to look at more home produced goods as we may not be able to rely on regular imports in a changing world.esp things like antibiotics, electronics etc....
As a farmer I'm stocking up on imported seeds from Monday!
Amazing discussion. Thank you so much for picking a great topic and a knowledgeable guest.
Dont cut and ask new questions when people are explaining interesting stuff, damn it. 03:40
Thats the whole point. Thats how a conversation/topic is controlled and redirected.
If it doesn't fit the narrative or bias (we all have a bias) then the conversation is changed or redirected asap.
Over Crank - that’s because liberal news has an agenda and want to push that agenda. In this case, sell your stocks. You watch how rich Bloomberg gets after this when he buys all of these stocks as his news agency helped drive the market down. When the market recovers he will make a 15% profit in about a week.
Sold out of the share market 3 months ago. Just seemed like it was all set up so if the system got a nudge it could come undone in a big way. I got nervous. Guess the radars working.
"give me an upbeat introduction". then went on to give doomday prediction
Mark Nguyen It’s all about balance! 🤣
I am in the manufacturing and production of shoes for a big wholesaler in the US and our factories are not back to work. Spring merchandise will get hit hard due to delays and Fall merchandise will be in the backlog. We cannot even get materials to make our product!
That’s terrible, how can you make material here?
We are a manuf of machines to make shoes and yep! Same here, parts shortage and workers 25% are back to work.
Lol 2008 gonna look like a walk in the park compared to this. Massive reset coming. World-changing.
@Hey It's John Alcohol - an excellent bartering item
@Daniel Sherwood the items for trading are beautiful symbolism for the entire country being like a jail for us peons. If you have enough money then none of this is a worry
My grandfather, William P. Parsley, from southeast Arkansas worked as a grave digger during the 1918 pandemic. Often affected families was too sick to dig graves. Back then most rural people suffered and died at home. He was paid in loose change, eggs and tobacco. Invictus maneo.
I say most likely "L" shape recovery. Not V or U shape. People around the world will be so traumatized and without work and money that they can't purchase anything for the economy to recover.
Ray Farmer wise words
good this overconsuming of cheap products must come to an end.
@Rob Cartesian China is already starting to become virus free except Wuhan. You can argue that they can take that vacuum.
@@supreme1572 China has demonstrated to the world they are far more proactive, capable, innovative than the Western media continuously depicts them... In fact, Western countries are acting rather inept in addressing the infection controls that they previously voiced China bias previously and we know more about the virus effects now than China did at the time.
This virus is not World ending...Theres no way this causes an L shape.... thats insane to even think that
The problem is that, let’s say with cars,production is held up for let’s say the display screen because the Chinese factory is closed. They can’t just switch to a European or japanese factory who may be able to tool up and manufacture in a few weeks, but the components are still needed form China, especially the chips, which are nowadays in everything everywhere. And those thousands of cars can’t go on with the rest of the assembly because they would need some disassembly to fit the missing parts later. It can’t be done, they’re all integrated and the same applies to absolutely everything. This crisis has the capacity to bring about the biggest economic shock in history and if you look at the coming food chain supply it’s looking very very grim. Refrigerated containers by the thousands re piling up and not being plugged in to the power so the contents from meat to fruit are rotting.
That's especially where the "Just in time" production in the car industry of keeping the barest inventory in stock at factories makes it even more severe.
That’s my thoughts too!
Economic recession could quickly change for economic depression.
The Big One... Or as 4Chan would put, OMG it's happening.
China economy will collapse in October
U in gfc 2 on fb ?
Collapse
Some countries are already in a recession like Japan. Singapore gdp is forecast to be -0.5% to 1.5%. Germany is on a decline too and who knows whats going to happen with brexit
Excellent guest. Great show.
Rebuild factory’s in America that will get the economy moving.
And if its not cost effective to build and run those factories? Are you going to pay for those losses?
Nobody is stupid enough to throw money into a losing business model.
Naeem Malik nice reply from someone that isn’t American.
That, ladies and gentlemen, was an advert for globalism.
Bill Bailey How so many people can still be so naive regarding globalism is beyond me. People need to apply the common saying for gold to everything and then look at nationalism-if you don’t hold it, you don’t own it. In other words, make things in your own backyard, stockpiling any needed raw materials that have to be sourced overseas.
The plastic forks at walmart went up in price i noticed..
Bloomberg interviewers like the sound of their own voices.Why don't they listen and stop butting in? I know that as a viewer, I'd like to hear the answer.
This is the problem with letting a few companies control all supply lines. Out sourcing, an lean manufacturing was the worst move companies have made in my lifetime.
Just took my money out of the stock market. This recession is real and will continue to decrease.
I’m investing in gold and oil. Those two will soon go up like sky rocket
Better late than...later..right? Might get worse
I invested in inverse funds, might as well make the best of a bad situation
Alan Johnson - bad decision.
Doesnt everyone panicking and taking their money out all at the same time cause the crash? Idk. I'm uneducated and poverty level.
@@DawnDiggetyNoDoubt Yes, it's a self forfiling prophecy.
1:55 - No supply shortages? Try buying N95 masks!
@Michael Galuszka We use them in hospitals for sick patients in order to prevent further spreading of infections (not specifically for COVID-19, but for ER patients with the flu or other illness). We're already experiencing supply shortages in all of our primary hospitals in WA State.
Got mine 2 days ago before Trump made his speech... now it’s almost impossible to buy them
David Cuerpo Jr I got the last 5 today at Home Depot
Things are going to become expensive
kalbs89 blackmarket soon
Colleen Pritchett: yup, and I have 40 new N95 masks.
I am so excited to buy at these low prices. It is like getting in a time machine.
Supply we need doctors and nurses they are getting sick also ...why so much worry about money they need medical supplies and most important personal to help the health care systems that's the most important rite now ...wirhout that people will die and then money means nothing medical supplies and most important now medical supplies and food supplies
Money is the symtom. The supply chain break down means lots of places will not get meds, food, medical supplies extra extra.
Communists! JK
I could care less about the Stock Market. Let it burn, we have real issues to deal with, an Money means nothing to me.
@@deadwingdomain where is this magical place you live? I want to move somewhere that the thought of economic depression makes me gleeful. Sounds really blissful.
We need real news.
1999/2000: Y2K is gonna kill us all.
2001: Anthrax is gonna kill us all.
2002: West Nile Virus is gonna kill us all.
2003: SARS is gonna kill us all.
2005: Bird Flu is gonna kill us all.
2006: E.Coli is gonna kill us all.
2008: The bad economy is gonna kill us
all.
2009: Swine Flu is gonna kill us all.
2010: BP Oil is gonna kill us all.
2011: Obamacare is gonna kill us all.
2012: Mayan "End of the world" is
gonna kill us all.
2013: North Korea is gonna kill us all.
2014: Ebola is gonna kill us all.
2015: Disney Measles AND ISIS are
gonna kill us all.
2016: Zika is gonna kill us all.
2017: Fake news is gonna kill us all.
2018: Migrant Caravans are gonna kill
us all.
2019: Measles is gonna kill us all.
2020: Coronavirus is gonna kill us all.
@@cmtat1976 We radicals have contingents. Jochs school of thought created the Venus project an I'm down for it. Cash means nothing to me. It's not magical. Its rational, calm, perspective on how things work. But I'm bot greedy an care about the state of my neighborhood. Can others say the same? IDK
Talk about an expert in supply chain/logistics. I could listen to this guy for hours. Brilliant. Sadly... the picture he's painting isn't very pretty for the global economy.
Best explanation I’ve heard on the supply chain shocks
I am in the shipping industry. Last year was the worst year in the business. My clients businesses were down significantly and some already closed their doors. My competition were struggling and some are also out of business. This year is already looking worse than last year and we are the beginning. Fortunately for me, I have very low overhead and as God will have it, a client from a different state contacted me and the profit margins from their business were three times what I used to make from the state my business was in. This made up significantly for the lost business. Brace for impact guys!! I am moving to Puerto Rico this year to take advantage of their tax savings and lower my overhead even more. We can grow our food all year round too!
Just saw Getty TV Serie “Trust”, last chapter tell us what We have now: “Consequences”
People still worried about stocks?....🙁🙁🙁
Siobhan Cullen He doesn’t understand what it means to all of us.
Nobody will get out of this unscathed.
@@anonymouse7095 that is why the gov controls media. i can understand, people like him won't get how bad the situation is until they say it is in TV.
Anony Mouse I invested in inverse funds. I think I’ll be at least a 1% profit from all this
Fuck the Stock Market. It's been a scam my whole life. We will still be here when it crashes. An we can just enact the Venus project. The dollar is in trouble anyway... why not do it?
iPhone replacement LCD are experiencing a shortage and prices are rising QUICKLY.
Yep
That's going to be the least of your worries when people start panic buying and the grocery shelves run dry.
America makes most of its on food. We should be fine with food. Medical supplies should be priority number one. Then getting everything else online otherwise expect a lot of lay-offs and we will start seeing demand problems.
@@Fourtonmantis28 I ordered fish mox lol
VIX at 40 on Friday and it was signal for bottom of DOW on Friday as referencing from previous cases in 2019.
Dow down to 17000 soon
What is consumer confidence anyway. Just a way to gain cash from the middle class to run your company. I've never had it... but I've seen the people who run giant companies at the ground. So some bias...
I do believe I do believe it will go below 20k
All this infusion of debt into the market has just popped! A black swan event were demand for goods and service is starting to drop of a cliff could see a 1929 like crash that takes overvalued stock down 90% from 29000 on the Dow to 3000 in a year or two! That's down 80% from the 17000 suggested in this post.
How did she introduce him? He didn’t seem happy about it.
Hong Kong is still up and running
WTI down 4.9%, to $44.76 ◘ In relation to the New Coronavirus COVID-19 emergency, passengers are informed that the activities of Linate and Malpensa airports are continuing regularly yet AA has cancelled all flights to Milan
SO TIME TO HEAD TO COSCO
actually casco site shutdown the survival food page😕. it look like the gov bought it all.
Done.
@Thomas Headley for you a coscorron for being pendejo
Been ordering from Costco in bulk all month lol. Ordered many cases of food, water, and other supplies. Saw this coming since early January, as many have who followed this virus closely from the outset.
The best time to prepare was 10 years ago, the second best time to repair is right now.
Good point raised
How scary can this be if there is a overstock.com and people that do drop shipping for a living?
Yossi was right he should of been introduced probably.
I’m in Alaska and son in law is USAF, stationed here in AK. Today, our Governor met with his division..they all have orders for Somalia in March and today were told to be prepared to evacuate refugees due to the coronavirus and they also talked about their chemical suits and uniforms basically biohazard training.
Should open markets on the weekend or restrict shorting.
5:35 literally
Well, our business is telling us we have a supply problem. We have a ridiculous amount of demand though.
I bought the last masks from homedepot in lake ozark Missouri
Log Cabin Man I got the last mask today here in Michigan in Lavonia from Sherwin paint store They are not for sure on the next order Will come in
Here is an economist who at least mentioned demand- chain failure. He does not go far enough, not seeing the need to provide purchasing power to households, perhaps with fiat money. Give evey household money so demand will call forth supply.
Wow, Sharing Through The TRUTH Network...
Did you see that zombie movie where the comet flies over L.A. and comet dust turns them into zombies? You can probably compare it to that.
So much for globalization
The economy need to shift to the situation/crisis.
You know this channel always tells the truth. Right?
I guess you know better, right?
Bloomberg News??? 🤔 and who is running against Trump?
Heaters and electric blankets - will be short in South Africa
good luck finding a N95 mask or better in stores or online. Mountain house freeze dried foods are sold out on amazon and walmart, its just begun folks, get ready NOW !!!!
Just checked amazon freeze dried food is still available
Andrew H check, check, and check...
My Chinese suppliers started producing 10 days ago .. I expect that China will be full operational by the mid of march.
Put all your eggs in one basket. Short-sightedness and greed on part of companies. However, they big ones will be bailed-out. It's the minions who will suffer.
The male reporter is also asking questions as if he’s not listening.
Most of the generic drugs are made in China. This is going to be a major challenge.
Stock market correction of 5 trillion dollars. That will never come back.
"Brother can you spare a dime." Guy from Boston knows his stuff.
Are you joking? You must be living in disneyland. More like 15-20 trillion. 10% of the world population is going to die, 800 million people.
Hope for the best, prepare for the worst.
QUARANTINE CHINA FOR ONE YEAR.
汉奸
too late -- that ship has sailed -- literally
@@ericxu3860 对啦。。。去他妈的。。。
@@ericxu3860
Xue
"No disruption in production" my butt, somethings are out of stock now... like facemask........... food in some areas......
Where is food running low?
@@MoonWaterRanch Costco
@@diegokiwi1854 bullshit...quit lying
Quit lying moron
This sensitive situation is not new, we have done before - to keep moving the enterely world - and we can do it again, again and again.
I agree! They would have to rapidly come out with a vaccination for this coronavirus or something that will help ease human's anxieties of the virus. I think we have more downside at least a good 7% more on the down on the DOW. When people panic on a worldwide level it's hard to stop the speed of it.
Heather 22 ...7%....are you crazy....everyone is going to pull out profits now, then wait...get prices back down where they belong...BELOW when Trump came in!!!!!!!!! Dow and nasdaq down another 20%.... Then a little buy im for a couple weeks.... Then down again..... Usa people are in such HUGE debts...and have no savings.....prices will rise.....so many commission and tipped employees will crumble....no car sales...noone going out to fancy restaurants....huge domino effect. I am heavy in inverse etf.s, World to crumble
A 1929 like drop in a propped up stock market by tax cuts and fed printing of funny money could take this market down 90% just like 1920 and the Dow could go down to 2,900 from 29,000!!
Chinese banks might lend money to the smaller retailers to help, but western banks would not give them the smell of their a$$
They should be asking why demand from consumers has fell off a cliff ? Wages have gone nowhere for the best part of 20th so workers stop buying stuff. Basically workers have enough crap.
Panic buying will also drain stores of stock which maybe replenished by warehouses, but if factories aren't up and running then there will be shortages.
I'm having a sale on my candy. Want to sell all of it. Especially because it's two years old and this virus.
US wants change import production from China to India right now.
india have to setup regulations because the west us will ruin india, like try ruin countries.
QUARANTINE CHINA FOR ONE YEAR.
OR UNTIL WINNIE POOH, TRAVELS TO WUHAN VISITS ALL THE HOSPITALS, WITHOUT HAZMAT SUIT OR MASK.
India could get sick too. I just read 20,000 Indian students in China. 500 in Wuhan alone.
I know what a coincidence lol
@@nellyfarnsworth7381 do u watch South Park
I'm definitely missing something. Why wouldnt the company just reduce supplier orders to x%. Why is it 2x%? I can see how the money in the economy is less by 2x but its not multiplying down the supply chains. If I make cars, I need x less dollars. The tire maker need x less rubber not 2x less rubber.
if all the brave people(doctors) who are in the front lines fall pray to this virus and there will be no more doctors to cure the virus.
just to late manufacturing does not work. Never will.
JIT is causing jitters. I think.
All I see is a global recession followed by a global depression - too many things are assumed with these models . The reality on the ground for the average person is much worse .
The Economist says: The virus is coming...
Flip dip here we go
It's going to leave a Very big Mark....
My team of >5000 traders preparing to buy Dow cfds at every dip...Keep close watch
Does anyone believe that by the end of March this will be over.
just starting
I’ll give it two months at most. The moment China gets it under control this will be in the rear view mirror. China is tackling this hard bc the media is causing a panic that messes up everything n not bc of the danger the virus presents itself. It’s a regular flu...
The only difference is it’s very hard to detect. But they will figure out the vaccine quick enough.
This guy is from MIT? He’s predicting 2008 affects??
Bloomberg may be paying this guy off to scare even more ppl causing the stock to go down even more. That’s how they make big $ buying on the cheap.
@@superfly19751 bonehead it is not the flu......duh
What you have just said is most likely will sadly be the opposite... considering the fact that this virus is INSANELY IMPOSSIBLE to contain...
@@superfly19751 They cant even cure the common cold
We're doomed
Doesn't he look like James Cromwell?
Stop interrupting !
Inflation is on its way -> stagflation
I hope the presenter does not have Corona virus.
Beginning part about upbeat introduction could have been handled offline.
Yeah,in other words everybody's fucked.
Stop interrupting him.
Nooooo :(
We are FACK
Lies Lies. There are no disruptions!