There is a supply chain and logistics crisis that no one is talking about. It is getting worse every day. Higher consumer prices will bear the brunt of this.
While you were freaking out about the Covid variant, Ocean Freight costs have spiked yet again. $20,000 per container from Asia to the US. This is not sustainable. It is estimated they will hit $30K.
The Biden gang are complete idiots. They are not being truthful. The false mantra of ‘inflation is transitory’ will soon leave its place to ‘we have the right tools to fight inflation’ and then ‘stagflation wont last more than a decade’.
Supply distributors have seen price increases of 5-20% daily from their vendors. They cannot predict holding current prices for even a month.
White House chatter is that lockdowns for delta variant all but a done deal. Virtually all blue states are cooperating with WH / CDC. They’re aiming for late 2nd week of August, per WH official. Lockdowns worsened congestion at the the ports of Los Angeles/Long Beach, Oakland, and New York/New Jersey, which has only gotten more severe. “Late 2nd week of August” is the middle of peak import season for Black Friday merchandise.
More inflation and earnings misses coming.