How the Ports Went from Record Backups to Completely Empty

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You all remember during 2020 and 2021 how all the ports were incredibly backed up, leading to more inflation? Goods could not get where they needed to go. That meant people, trucks, and trains got delayed and it just threw the entire system into whack. It was so bad everybody was talking about it. From California, oil ships, tankers. Everything was waiting because of labor things, because of other supply chains, it was just an absolute mess.

Well, at the time, a lot of people were saying, hey, this is causing inflation. And while that is not true, because of these supply chain issues, they were all a symptom of money printing. However, it does not mean they do not contribute as well, because when those ports get backed up, that means that stuff cannot get where it needs to go.

That means people cannot buy that new stuff. That means supply is down compared to demand that drives prices up even faster. So just because something is a symptom and not the root cause does not mean it cannot also contribute to making the problem worse.

Timecodes
0:00 Video Introduction
1:01 Port Congestion Declined Severely
2:05 Long Term Inflationary Cycle
3:56 Baltic Index Container Cost
4:52 Wage Price Spiral

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#PortCongestion #SupplyChain #WagePriceSpiral