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Is this the Ever Given Blocking the Suez on Steroids????

Maersk Warning that the backed up South China Port is a more significant disruption than the Suez being blocked by the Ever Given.

I guess this means Supply Chain Breaks will become Supply Chain Suspensions of Unknown Duration.

Of course, our west coast has cargo ships lined up like crazy, too. 

Hopefully, you are stocked up as shortages may be in our future.  Higher prices, too. 

Does anyone else remember under Jimmy Carter the prime rate went to 21.5%?

Maersk Warns South China Port Congestion ‘More Significant Disruption’ Than Suez Canal Closure | ZeroHedge

Perfect Storm: Congestion Plagues South China And US West Coast Ports  | ZeroHedge

 

11 replies on “Is this the Ever Given Blocking the Suez on Steroids????”

Insurers, Owners Of Stuck Container Ship Reach Deal With Suez Canal Authority

Small Excerpt Below:
The Ever Given container ship could soon be released from Egyptian authority’s control after nearly three months following the vessel’s accident in the Suez Canal in March that closed the world’s most important shipping lane for six days. The Suez Canal Authority (S.C.A.) and the vessel’s owners have been bickering over settlement figures for canal disruptions. However, it appears an “agreement in principle” between the vessel’s owners and the S.C.A. has finally been reached.

I always found it ridiculous that we buy T-shirts made in China half a globe away.
I can understand that very special products like microprocessors may have only a handful plats supplying the whole world. But for most mundane products transporting huge distance should be infeasible. Even to think of. And it happening points to massive distortion on the global value system.
I doubt humanity will turn to some sane track anytime soon, but hopefully at least SOME will look at these “supply chains” again and start some restructuring to decrease dependency and their use in general.

I remember high inflation and interest rates of the early 80s. I think that I was getting about a 6% raise every 6 months for a short while. Now we have significant inflation, but I don’t foresee wages or interest rates keeping up.

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