Supply chains are complicated. But if you’re wondering why everything you want to buy seems to be stuck in a global traffic jam these days, the answer is relatively simple, says Karen Kancens, vice president of the Shipping Federation of Canada.
Economy
The Devil Didn’t Make ’Em Do It, and Neither Did the Pandemic
A specter is haunting discussions of the economy — the specter of Covid agency. Almost from the very moment unprecedented government actions were announced worldwide to stop the spread of Covid-19, people became accustomed to referring to the virus as a sentient being with the ability to bend people to his will.
Trouble Won’t Be “Transitory”
Mounting problems with inflation, the supply chain, and energy shortages are not likely to resolve themselves quickly.
Authorities in Washington—President Joe Biden, Federal Reserve Chairman Jerome Powell, and Treasury Secretary Janet Yellen—have told the public not to worry over the recent inflation, which they insist is “transitory.” They link the problem to supply-chain constraints that they suggest will soon lift. Supply problems have certainly contributed to inflation, but early relief seems unlikely. Even Transportation Secretary Pete Buttigieg expects problems until mid-2022 at the earliest. That will put a damper on holiday gift-giving and makes the word “transitory” sound misleading.
Biden: ‘If We Stay Exactly Where We Are,’ Inflation Will Last for a While
During a town hall on CNN on Thursday, President Joe Biden said that whether inflation lasts well into next year will depend on whether we make needed investments, and “If we stay exactly where we are,” inflation will last for a while.
Parliament Postponed While Trudeau Works To Restart African Economy
The Canada-Africa Chamber of Business has announced that Prime Minister Justin Trudeau will address the opening of its 3-day session from October 26-28, 2021.
‘’The Prime Minister’s message will focus on Canadian efforts at home and on the African continent for the restart of African economies,’’ said Sebastian Spio-Garbrah, Chair of the Board of the Canada-Africa Chamber of Business.
Reports: Calif. Crackdown On Truckers Hurts Supply Chains
New reports revealed a supply glut in the Port of Los Angeles is a direct result of regulatory crackdown on the trucking industry by California’s ruling Democrats.
According to Forbes, a shortage of truckers and trucks in California is contributing to supply chain disruptions. Truckers say a new California law mandates that all trucks must be made in 2011 or newer, eroding competitiveness of independent truckers.
An energy crisis is looming and it could cost us all as stagflation prepares to make a comeback
We haven’t seen anything like this since the 1970s, when oil-producing nations led by Saudi Arabia formed themselves into a cartel and jacked up the price of fuel.
It led to what is known as stagflation. That’s when inflation takes off in a period when economic growth is slowing. Soaring fuel prices added to the cost of pretty much everything. But they also acted as a tax, as everyone was forced to spend more on necessities.
Transportation Secy. Buttigieg: Supply Chain Issues Will Continue Into 2022
During an interview with CNN’s State of the Union Sunday, Buttigieg attempted to put a good spin on the supply chain issues causing prices to skyrocket, calling it beneficial. Amid concerns of the upcoming holidays, Buttigieg credited the sight of empty shelves as a sign Joe Biden has “successfully guided our economy out of the teeth of a terrifying recession.”
US Treasury deputy sec warns unvaxxed Americans that shortages will continue until EVERYONE is jabbed
The deputy secretary at the US Treasury has put Americans on notice that the only way to end the plague of empty shelves around the country is for every resident to be vaccinated. The frank warning came off as a threat to many.
Social Media Blisters ‘Bare Shelves Biden’ As President Struggles To Manage Supply Chain Crisis
President Joe Biden spoke Thursday on efforts to handle a growing supply chain crisis, suggesting that White House partnerships with private companies could alleviate product shortages and break shipping and processing bottlenecks — but consumers on social media appeared less than thrilled with the president’s plan, tweeting photos of empty store shelves and labeling the president, “Bare Shelves Biden” and “Empty Shelves Biden.”
#EmptyShelvesJoe trending on Twitter amid Biden’s supply chain crisis
The hashtag #EmptyShelvesJoe shot to the top of the trending topics on Twitter Thursday amid the supply chain crisis threatening the nation’s economy and holiday shopping.
Social media users employed the tagline to rip President Biden for empty shelves and skyrocketing prices caused by a backlog of shipping containers waiting to dock at California ports.
Transitory inflation forces could last up to another year: Poloz
A former governor of the Bank of Canada is bracing for the inflationary trends that central bankers are wrestling with around the world to last a little longer than some people might think.
Record 4.3 million Americans quit their jobs in August
The data strongly suggests that the delta variant wreaked havoc on the job market in August. As COVID cases surged, quits jumped in restaurants and hotels and rose in other public-facing jobs, such as retail and education.