Posted on 11/01/2022 4:26:38 AM PDT by EBH
After two difficult years for the global economy and in the midst of an energy crisis fueled by the Russian invasion of Ukraine, U.S. diesel inventories are currently "unacceptably low," National Economic Council Director Brian Deese said on Bloomberg TV last week.
This supply crunch is raising concerns among analysts and energy experts of an incoming slowdown of the U.S. economy, which could be exacerbated by the national strike planned by railroad workers for mid-November.
And in May and June, diesel and gas prices reached record highs, threatening to bring shipping and logistics to a grind and harming drivers' at the pump.
"Supply chain costs skyrocketed in the past two years, driven by surging demand and tight supply. In January, shippers had to pay more than $3.4/mile on average for a dry van truckload on the spot market, almost double what they were paying before the pandemic," Mazen Danaf, senior economist at Uber Freight, told Newsweek.
After two difficult years for the global economy and in the midst of an energy crisis fueled by the Russian invasion of Ukraine, U.S. diesel inventories are currently "unacceptably low," National Economic Council Director Brian Deese said on Bloomberg TV last week.
This supply crunch is raising concerns among analysts and energy experts of an incoming slowdown of the U.S. economy, which could be exacerbated by the national strike planned by railroad workers for mid-November.
And in May and June, diesel and gas prices reached record highs, threatening to bring shipping and logistics to a grind and harming drivers' at the pump.
"Supply chain costs skyrocketed in the past two years, driven by surging demand and tight supply. In January, shippers had to pay more than $3.4/mile on average for a dry van truckload on the spot market, almost double what they were paying
(Excerpt) Read more at msn.com ...
Elections have consequences.
While this seems obvious to some, I guarantee that millions still don’t get it. We need to hear this over and over again, at least until the midterms.
This didn’t just start in the last two years. We have been heading for the cliff for a long time.
I’ve been trying to figure out what triggering event will start the domino effect.
When corporate earnings nose dive in 2023.
It’s the global economy and Purim’s fault! Jeez, I thought Biden waved his hand and made the rail strike go away. /s
It is interesting watch.
Although this is moving more like things in the book, How Money Dies. It is a slow death. And if one keeps in mind that the Fed basically said they want a ‘soft’ landing, it does appear they are succeeding so far.
Pulling back in all the excess cash is going to be painful. Will it happen before the Holidays? I am getting the vibe from my traveling folks they are celebrating this year...period. Most are planning to ‘deal with it’ in 2023.
Note to Biden... Putin has nothing to do with your failures.
“in the midst of an energy crisis fueled by the Russian invasion of Ukraine”
The above is from the first sentence before the first comma. Should read: fueled by bad decisions made by Biden.
The article literally starts with a lie. Unfortunately, the part about inflation is likely true.
Diesel's going to be a bigger problem soon. Biden's destroying the country with his stupid choices.
Time to get the kids interested in toys that don’t use batteries.
You just knew the bureaucrats and media were going to do everything possible to hold off on reporting the economic disaster that unfolded this year until after the election so as to blame the Republicans.
“The article literally starts with a lie.”
Exactly right. After all...it IS from Newsweak...
We are facing a bleak year in 2024 — both economically and for peace.
And after the November elections, the media will ensure it’s the Republicans fault…
wait till the railroad strike....love that biden said he stopped it way back when...
Yep. I posted an article a few days ago that indicated that script is already written. And Biden is already using it.
“Although this is moving more like things in the book, How Money Dies. It is a slow death.”
Until it isn’t. Then it will be very fast.
L
“This didn’t just start in the last two years. We have been heading for the cliff for a long time.”
I agree. Sometimes I wonder if Trump didn’t dodge a bullet as far as his legacy by having the election stolen from him. If he were president he could have mitigated some of what’s happening, but the world wide shutdown was inevitably going to cause problems and the U.S. financial situation is going to come to a head eventually, and that may very soon.
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