| Dear Reader, Do you remember how everyone panicked during lockdown...when they only let you into supermarkets at certain times? Remember how you couldn’t get hold of toilet roll...sometimes for days? You’d use your ‘one-hour pass’ to go to Coles...only to find the shelves were bare...again. And when there were a few rolls available, people would snatch, grab, argue...there were even reports of fistfights in the aisles of one Woolies in Sydney. Over toilet roll. The pandemic did many regrettable things to us as a society. But it also exposed Australia’s alarming vulnerability to supply chain disruption. And now, while everyone’s ‘moved on’ mentally, it’s easy to forget that we’re a remote island nation, far from anyone and anywhere. Despite our bountiful natural resources and millions of acres of fertile farmland, we import 90% of what we need as a country to survive. That’s a shocker. Worse, the vast majority of our manufactured imports come from China...a nation 63% of Australians see as a national security threat! There’s a big problem here. The pandemic shone a light on it. But it’s bigger than bog roll. It’s bigger than having to wait six additional months to get your new Prado. And it hasn’t gone away. Nor will it any time soon. Some of the statistics I just read in Jim Rickards’ new research on the subject are mind-blowing. For example...the International Energy Agency says we’re required to hold 90 days’ worth of fuel in reserve. Right now, Australia has around 32 days of petrol reserves. In other words, if fuel imports dried up, the country could grind to a complete halt in a month. We also currently hold just FIVE DAYS worth of perishable food supplies at any one time. Less than one week’s worth! And on top of that, more than 90% of our critical medical supplies are imported. So remember those fist fights in Woolies over toilet roll? What if, next time, it’s Ventolin for your son... Or Penicillin for your wife? Can you see how vulnerable we are down here in Australia — pandemic or not? Can you see how quickly things might get out of hand if there’s another supply shock? If you’re joining the dots like I have...and you’re worrying about how all this could affect your standard of living...your investment returns... and your retirement plans...I urge you to have a read of Jim’s new research. It’s a real eye-opener. Just click the link... Silence of the Trucks Cheers, James Woodburn,
Publisher, The Daily Reckoning Australia | 