Broken supply chain causes the sloshing, container traffic snarled.
Terms of trade have changed since 2008.
- The US is now a major oil power.
- Smaller Asian tigers are popping up to compete with China.
- Europe still split.
- Belt and suspenders flopped.
- Brexit
- US flip flopping again in the ME.
- And oil and green are about to do tax battle.
- Pandemic
There is a momentary pause from the sloshing of prices up and down the chains. The new terms of trade are going to be priced in oil and taxes. Biden is waivering. My opinion? Congress needs a timeout, the state capitals need a timeout. The change in trade costs liquidity, but on net, not much, not nearly the cost of volatility in state and federal governments. Spend the money on endogenous efficiencies in the government channel, revenue share some of that cash on a regular basis. Stop the Godoting, there is no steering wheel where the pols think.
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