The Biden Inflation Octopus

[TBoneTX 45,469]

Perhaps all of us here can relate to VDH's rationale.  Your comments?

Quote

The Biden Inflation Octopus

by Victor Davis Hanson - March 2, 2022

 

In the end it doesn't matter whether Biden was deluded or diabolical.  Come November, Americans will rightfully blame him for willfully damaging their lives.  [...]

 

https://amgreatness.com/2022/03/02/the-biden-inflation-octopus/  

 

[millefleur 5,047]

I agree with this, it's an unspoken rule that sitting presidents get blamed for downturns in the economy, even if it's not their direct fault. Also, we've been warned about inflation ever since the Fed started printing money like crazy, chickens are coming home to roost now. I'm not an economist so I don't know what the solution is, but I think swing voters/people hurting (inflation is a hidden tax on the poor) will not be very happy come election time if this continues.

[Mike E 11,740]

Biden canceled keystone, and he could have re-open coal powered electrical power plants.  He could have not imposed vaccine mandates. He could have re-opened the economy.  He could have told Putin he would send weapons to Ukraine if Putin continued to mass troops on the border. He could fixed the log jam at the ports. Etc.  

 

Inflation is completely in his control.  
 

[seekingthetruth 1,248]

9 hours ago, Mike E said:

Biden canceled keystone, and he could have re-open coal powered electrical power plants.  He could have not imposed vaccine mandates. He could have re-opened the economy.  He could have told Putin he would send weapons to Ukraine if Putin continued to mass troops on the border. He could fixed the log jam at the ports. Etc.  

 

Inflation is completely in his control.  
 

In other sections of VJ, I have described how rising costs have changed our plans for moving to the U.S.  We originally planned for moving in June 2022 and now it will be June 2023 at the earliest.

 

In addition to the cost of housing, the cost of cars, the cost of gas, and the cost of groceries, the final straw was the ocean shipping.  I just can't afford / am unwilling to throw 30-40 k at shipping my household back to the U.S. when it should cost 10k.

 

The shipping log jams effect costs on everything.  Do you think little Petey B can handle it with his vast experience in transportation?  He worked for 3 years at McKinsey, a company I loath, due to a personal experience with them.  He made a speech at the LA Port several months ago.  Has anything improved?

 

I own some steel stocks that are doing well right now.  Yesterday on an investment forum a knowledgeable guy said this about the containers.  Not good news for shipping but good news for steel.

 

I import steel goods and source them from US manufactures when they allow me capacity.
I'm always communicating with everyone of them about the current global situation regarding all costs, inventory levels, freight costs, bottle necks, C-virus, ect. ect.
Two freight forwarders told me yesterday that the freight just raised again with no recovery in sight.
Here is a response I just woke up to:
"Now all the ports of world are same situation, too many containers are delaying in Ningbo and Shanghai port, for us, we need pay much to put containers on the storage yard to wait the vessels. never need to do in this way before."
If you search "Cargo containers, trucks to be stored in Carson amid congestion at ports of LA, Long Beach"
You'll see that back in December this was such a problem that California is using this land to store empty containers. Instead of spending half of the time unloading a ship then reloading empty containers they are only unloading to save time. This is only a temporary fix because without loading the empty containers some places will run out of containers and they will require the need to build more.
As of 2 days ago, 40 acres in the Fraser Richmond Industrial Lands in Vancouver was just purchased to do the same thing. I just heard a rumor that a huge 1,000+ acre lot near Barstow, Ca was just purchased to do the same thing.
This is all telling me that we are no where near the end to this supply chain problem causing freight to cost an extra $25,000/container. This is very very good news for any domestic manufacture and any raw material supplier.