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 viewed by The Wall Street Journal. Typically at this time of year, an average of two to four sailings a week are blanked, the industry’s term for canceled sailings.
[…] “In the first week of October, one-third of previously announced capacity will be blanked and for the second week, it will be around half,” said Peter Sand, chief analyst at Xeneta. “The downturn pace in recent weeks has been very fast and it looks like carriers misread the low volumes of a nonexistent peak season.”
The period between late summer and early fall typically is the busiest time of year for the largest carriers, as retailers and other importers build inventories ahead of the holiday shopping season. (more)
All of this has to do with the intentional destruction of the oil, coal and gas industry. Western national economic collapse is a feature of the Build Back Better agenda. The economy will continue to be lowered until it small enough to be replaced by “climate friendly” energy resources, windmills and solar farms.
The more consumers demand to keep their standard of living, the harder the central banks will squeeze to inflict the pain. The western leaders and their banking benefactors do not want us owning things that require energy resources. The economic pain will continue (in western nations) until citizens acquiesce to eating bugs and sustainable algae cakes, while taking mass transportation instead of personal vehicles.
The Liberty Beacon Project is now expanding at a near exponential rate, and for this we are grateful and excited! But we must also be practical. For 7 years we have not asked for any donations, and have built this project with our own funds as we grew. We are now experiencing ever increasing growing pains due to the large number of websites and projects we represent. So we have just installed donation buttons on our websites and ask that you consider this when you visit them. Nothing is too small. We thank you for all your support and your considerations … (TLB)
Comment Policy: As a privately owned web site, we reserve the right to remove comments that contain spam, advertising, vulgarity, threats of violence, racism, or personal/abusive attacks on other users. This also applies to trolling, the use of more than one alias, or just intentional mischief. Enforcement of this policy is at the discretion of this websites administrators. Repeat offenders may be blocked or permanently banned without prior warning.
Disclaimer: TLB websites contain copyrighted material the use of which has not always been specifically authorized by the copyright owner. We are making such material available to our readers under the provisions of “fair use” in an effort to advance a better understanding of political, health, economic and social issues. The material on this site is distributed without profit to those who have expressed a prior interest in receiving it for research and educational purposes. If you wish to use copyrighted material for purposes other than “fair use” you must request permission from the copyright owner.
Disclaimer: The information and opinions shared are for informational purposes only including, but not limited to, text, graphics, images and other material are not intended as medical advice or instruction. Nothing mentioned is intended to be a substitute for professional medical advice, diagnosis or treatment.