This Great Pilot Shortage has been coming for decades now in the U.S.
First, it was supposed to be the WWII pilots retiring from the airlines (actually hiring was pretty brisk in the late 60's).
Then the Korean War vets reaching retirement. Until a few years ago the military was the primary source of airline pilots in America.
Recently, airlines were going to expand so much there would be "one crash a day" according to CNN aviation expert Mary Schiavo. I remember Aviation Week had a Y2K cover story on the coming shortage of maintenance workers. Post 911 thousands of U.S. pilots are furloughed and several airlines on the brink of shutting down.
I think the 100 hour months are more from the bean counters maximizing productivity than any real shortage of qualified pilots.
If one of the major U.S. carriers shuts down even the expat market will be flooded with current and qualified applicants based on past and personal experience. We like our guns but we'll work overseas if we are desperate enough <g>. Of course, when a job driving the lav truck opens up back home we'll repatriate. Been there done that...