‘Never seen anything like that,’ market analyst tells Keiser Report about global chip shortage

‘Never seen anything like that,’ market analyst tells Keiser Report about global chip shortage

The semiconductor shortage has been forcing international auto manufacturers to shut production in some countries. The disruption is expected to last for several months, experts say.

Max Keiser interviews Wolf Richter of wolfstreet.com, who has worked for a decade as general manager and COO of a large Ford dealership and its subsidiaries, about the ongoing chip turmoil.

“The semiconductor shortage is a real problem,” says Wolf, adding, “one of the drivers behind it is that we have the sudden boom in durable goods sales in the United States and other countries too.”

He explains that there’s been a historic spike in durable goods and manufacturers just weren’t ready for it. “This goes up the supply chain, there’s all kinds of problems in shipping now.”

“It’s pretty crazy, I’ve never seen anything like that,” Wolf says, pointing out that the semiconductor shortage has hit the car industry particularly hard.

For more stories on economy & finance visit RT’s business section

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