Joe Biden went back to the White House stage set yesterday (always weird) to read from his script and hold a broadcast zoom meeting with the supply chain and inflation ‘task force’ led by Brian Deese. [Read Transcript Here]
The occupant of the White House proclaimed that gas prices have dropped ten cents, the port container backlog was almost fixed, and all the retail sales shelves are stocked for Christmas purchasing. Smiles everyone, smiles. [Excerpt Below]
♦ A couple of overall notes. Biden is proclaiming a massive improvement in the port backlog in California. However, a more careful review of the specifics from the ports themselves, via John Porcari, reveals this nuance: “The percentage of — the number of long-dwelling containers — the ones that have been there eight days or more — has been cut in half.” The percentage of, the number of, 8+ day delayed containers has been reduced by 50% in the past two months.
So, the container backlog problem is half as bad as the percentage of the problem was two months ago. That’s some professional parseltongue right there.
Expanding, Porcari says, “Since mid-October, the dwell times for those containers has dropped from 12 days to 5 days; that’s 140 percent improvement. And in Los Angeles, from nine days to four days — 125 percent improvement.” LOL..
The 8+ day containers have dropped from 8 days + twelve (20 days) to 8 days + five (13 days), and that’s an improvement of 140%. At that rate in two more months the 8+ day container backlog will be reduced to,… wait for it…. 8+ days. Brilliant! They will have achieved backlog statis!
Who wouldn’t love a job where the goal of your performance review is to get your horrible performance to the point of ordinary failure, instead of it being at a level of extraordinary failure, or failure+.
Seriously, these guys just crack me up.
On the gasoline side of things, I shall remember to use my correct thinking and thank Dear Leader for the new 10¢/gal savings on the gasoline that increased $1.50/gal this year.
#FJB
