Over 100,000 cars have reportedly been cut from North American production this week due to chip shortage. The auto industry has reportedly been forced to cut production by more than a million vehicles this year.
The price of gas has risen because demand has far outpaced supply. So, the Biden White House had the brilliant idea of sending people special debit cards to buy gasoline, thereby pumping up the demand while continuing to choke off the supply.
Joe Biden’s computer chip shortage has killed off one proposed White House solution (if you want to call it that) to people suffering under Joe Biden’s record gas prices.
The Russian invasion of Ukraine may cause further strain on the supply of semiconductor chips already cut short by the worldwide chip shortage according to reports. Potential shorts of neon gas and palladium, mined in Ukraine, could cause significant production delays for tech firms and automakers, amongst other industries.
Printer giant Canon has begun telling customers how to bypass their ink cartridge DRM technology as the global chip shortage has resulted in the company being unable to manufacture ink cartridges with the appropriate DRM chips. The ink cartridge DRM tech is a key component of Canon’s business as it discourages customers from using third-party ink cartridges in their printers.
Korean tech giant Samsung recently announced that it plans to invest around $17 billion to build a semiconductor manufacturing facility in Taylor, Texas. The plant will be Samsung’s largest investment in the United States.
On Wednesday’s “PBS NewsHour,” Commerce Secretary Gina Raimondo stated that the supply chain problems with semiconductors “could be with us for a while.” And that while “things are going to get a little bit better” over the next 6-9 months,
Apple reported extremely strong third-quarter earnings this week beating analyst expectations, but despite strong results, the company’s stock price fell after executives warned that chip supply constraints could impact iPhones and iPads this quarter.
Overall durable good orders slipped because of lower car and truck bookings but business investment was strong enough to raise inflation alarms.
