The Other McCain

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Joe Biden’s Supply Chain Disaster

Posted on | October 16, 2021 | Comments Off on Joe Biden’s Supply Chain Disaster

Suppose that you were in the food service business, and suppose that you wanted to order those little packets of mayonnaise. Good luck getting them, at any price, these packets (which most of us take for granted) being just one of many items that have become scarce as a result of the Biden administration’s supply-chain crisis:

Maybe you’ve seen the pictures of queues of cargo ships strung out in the Pacific trying to get into American ports to unload their containers. You will hear the scene described as part of something called the global supply chain, but that intentionally understates what it actually is. What you’re looking at are America’s supply lines. At this point, we’re effectively an outpost totally dependent on a faraway headquarters for the things we need to live. Here’s what it looks like:

REPORTER: Why so many empty shelves? US ports are backed up.
REPORTER: Take a look at this. Cargo ships sitting in the sea waiting to pull into port. It’s causing major US retailers like Walmart, Home Depot and Costco to charter private cargo ships in a rush to fill shelves for the holiday season. On the roads, there’s a shortage of truck drivers
REPORTER: The White House says it’s addressing the issues fueled by COVID 19, a labor shortage and increased demand.

Suddenly, for the first time in generations, Americans are having trouble buying basic necessities, the things they need. A new poll by Rasmussen found that 62% of Americans said they have shortages in stores where they live. The things they can buy are suddenly much more expensive.

REPORTER: The Labor Department reporting Wednesday meats, poultry, fish and eggs increased a combined 10.5% since September 2020, but it’s not just food prices skyrocketing, the consumer price index shows overall prices are up 5.4% from a year ago. More pain at the pumps The national gas price rose a dollar since last year, AAA showing the average price per gallon, up from $2.18 in 2020 to $3.29 this year. The Social Security Administration says inflation is why nearly 70 million Americans receiving Social Security benefits will see a nearly six percent increase in payments next year, the highest increase in four decades.

There are no signs that fundamentally any of this is going to improve any time soon. In fact, on Wednesday, the administration acknowledged that you’re heating bills are likely to jump by more than 50% this winter. Those are the kind of things that people actually notice. It hurts when you get poorer and many people are getting poorer.

 

Peter St. Onge explains why the Biden administration’s excuses for this disaster are wrong, insofar as they are not simply lies. 




 

Category: Economics

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