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. A single transpacific container shipment cost $19,000 in 2021, then $14,500 in 2022 as the intentional slowdown began. Now it’s only $3,900 as entire fleets of cargo shipments are cancelled due to lack of demand by U.S. purchasers.
Folks, get ready…. because it’s not going to get better. Prior farm costs, an outcome of energy price increases, are now reaching the supply chain. Food costs will continue increasing throughout the holiday season.
( Wall Street Journal ) […] Trans-Pacific shipping rates have plummeted roughly 75% from year-ago levels. The transportation industry is grappling with weaker demand as big retailers cancel orders with vendors and step up efforts to cut inventories. FedEx Corp. recently said it would cancel flights and park cargo planes because of a sharp drop in shipping volumes. On Thursday, Nike Inc. said it was sitting on 65% more inventory in North America than a year earlier and would resort to markdowns.
[…] One response to the melting demand has been to reduce sailing trips. In September, container capacity offered by ship operators in the Pacific was down 13%, dropping the equivalent of 21 ships that can each move 8,000 containers in a single voyage, from a year earlier, according to shipping-data providers Xeneta and Sea-Intelligence.
For the two weeks starting Oct. 3, a total of about 40 scheduled sailings to the U.S. West Coast from Asia and 21 sailings to the East Coast from Asia have been scrapped, according to the data companies as well as customer advisories […]
We Often Feel Like David Taking on Giants
Today’s Goliath is the Mainstream Media Industrial Complex that brainwashes the masses.
Our mission is very straightforward: To counter the false narratives and nefarious agendas destroying America today. It isn’t easy for obvious reasons; despite incredible growth over the last year we are still a very tiny fish in a huge media pond. But we’re fighting and we will continue to do so, Lord willing, for as long as we possibly can. The battle for America’s present and future is too important for us to back down to the giants that stand in our way.
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