The Bureau of Labor and Statistics (BLS) provides the latest data on consumer prices (inflation)…
An Economist’s Chart Goes Viral: Shows Main Source of Inflation Chart Using BEA Data on Where Inflation Is Coming From…
On April 21 Josh Bivens posted a titillating analysis on the Working Economics Blog. Bivens has a Ph.D. in Economics from the New School for Social Research and is the Director of Research at the Economic Policy Institute. The blog post was titled: “Corporate profits have contributed disproportionately to inflation. How should policymakers respond?”…
Transpacific Shipping Drops 75% During Peak Season as Joe Biden Energy Inflation Bites and Consumer Spending Collapses…
The economic data coming in the past week is in alignment with prior forecasts. Bottom line, energy driven inflation has collapsed consumer spending, inventories climbing, vendors are cancelling orders, and this is peak season for transpacific shipping- which has now recorded the most rapid drop in history…
DOW Drops Below 30,000, Erasing All Gains Since Biden Took Office…
Market has been on downward trajectory for well over a month…
There it is, Samsung Signal Flare, Demand Side Contraction, Inventories Too High, Request Suppliers Stall Shipments…
We have been waiting for the non-essential durable goods side of the manufacturing sector to start showing evidence of demand side contraction in consumer purchases. There have been subtle sector-by-sector indicators of consumer spending shifts for several months; however, today we get the direct evidence from Samsung…
Another Supply Chain Shock on Deck: Cargo Backlog Ripples Beyond Shanghai as Lockdown Stops Trucks, Containerships…
Rerouting freight to avoid the extended lockdown in Shanghai, where daily confirmed COVID cases topped a record 17,000 this week, is becoming more difficult and expensive as cargo facilities in other Chinese cities become overcrowded, logistics companies and carriers warn. The logistics challenges for ocean and airfreight in Shanghai are extreme…
SUVs Get Parked in the Sea, Revealing Scope of U.S. Auto Market Glut…
The length of almost two football fields, the cargo ship Jupiter Spirit arrived in Los Angeles’ harbor on April 24 after an almost three-week journey from Japan, ready to unload its cargo of about 2,000 Nissan Armada SUVs, Rogue crossovers and Infiniti sedans in a quick, half-day operation. But when the ship, operated by Nissan […]
Tyson Foods Issues Dire Warning in Full-Page NYT Ad as Lockdowns Threaten U.S. Food Supply…
Tyson Foods rolled out a full-page advertisement Sunday in The Washington Post and The New York Times warning that the country’s food supply chain is “breaking” amid continued lockdowns aimed at slowing down the coronavirus pandemic. The company’s board chairman John Tyson wrote in the ad that farmers will be left in the dust and […]
Smithfield to Close More Pork Plants Amid Infection Fears…
Smithfield Foods, the world’s biggest pork processor, announced Wednesday it would close two U.S. plants that process bacon and ham over COVID-19 infection concerns. It comes after Smithfield, a wholly-owned subsidiary of Chinese company WH Group, closed down a hog slaughterhouse in Sioux Falls, South Dakota, after dozens of workers daily were testing positive for […]
AG Secretary Sonny Perdue Discusses Challenges Shifting Food Supply Chains…
The U.S. economy will reopen sooner rather than later specifically because of non-discussed issues in the total U.S. food supply chain. While government officials have to be very careful in public comments, AG Secretary Sonny Perdue hinted toward the issue today during his remarks at the coronavirus task force briefing. The issue is slightly complex; […]