What They Say
Economist Paul Kedrosky included an interesting chart on his daily feed of such things. It is from the US Bureau of Economic Activity (BEA) and highlighted the dramatic change in the balance between the sales of goods and services caused in the US by the pandemic.
What We Think
I became aware of Kedrosky after seeing him speak at DisplaySearch events in 2009 and 2010 and he is a useful source of triggers to thought. I loved what he said in 2010 that ‘the function of governments is to delay the inevitable’.
If you were unsure of why there are so many issues with supply chains at the moment, this chart really highlights what is going on. Although the data is for the US, I would expect something similar for most of the rest of the developed world. (BR)
