{"id":59953,"date":"2021-10-18T05:21:19","date_gmt":"2021-10-18T10:21:19","guid":{"rendered":"https:\/\/olduvai.ca\/?p=59953"},"modified":"2021-10-18T05:21:19","modified_gmt":"2021-10-18T10:21:19","slug":"viewing-inflation-through-rose-colored-glasses","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=59953","title":{"rendered":"Viewing Inflation Through Rose-Colored Glasses"},"content":{"rendered":"
\n

Viewing Inflation Through Rose-Colored Glasses<\/a><\/h3>\n<\/div>\n
\n
\n
\n
<\/div>\n

\"\"<\/a><\/p>\n

Once \u201cwe get the pandemic under control, the global economy comes back, these pressures will mitigate and I believe will go back to normal levels,\u201d Treasury Secretary Janet Yellen stated, echoing \u201ctransitory\u201d sentiments by Fed Chairman Jerome Powell. Powell believes supply chain bottlenecks are the main culprit for inflation. Well, the Biden Administration appointed the secretaries of Commerce, Agriculture and Transportation to create a supply chain task force to fix the influx issues.<\/p>\n

Sameera Fazili, a deputy director of the White House National Economic Council, stated, \u201cOur approach to supply chain resilience needs to look forward to emerging threats from cybersecurity to climate issues.\u201d Is climate change the issue here? Is this an indication of where the government will misdirect resources once again? Fazili further displayed how out of touch the government is with the current crisis by saying inflation due to supply shortages is \u201ckind of [a] good problem to be having,\u201d as it indicates demand. The countless number of businesses and consumers currently paying for basic living expenses at up to 30-year highs may not see the glass half full at the moment.<\/p>\n

Then, the Biden Administration met with the workers at the Port of Los Angeles this week, where it was agreed upon that the port would operate 24\/7 to address issues. Ports in Los Angeles and Long Beach, California, account for 40% of all shipments into the US, which seems to be a good start. Even Walmart, FedEx, and UPS have agreed to unload their shipments at non-peak hours to help the process. Oh, wait, the ongoing worker shortage. Companies are begging people to apply, and it remains to be seen whether the ports will be able to maintain proper staffing to run at full capacity around the clock…<\/p>\n

\u2026click on the above link to read the rest of the article\u2026<\/p>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Viewing Inflation Through Rose-Colored Glasses Once \u201cwe get the pandemic under control, the global economy comes back, these pressures will mitigate and I believe will go back to normal levels,\u201d Treasury Secretary Janet Yellen stated, echoing \u201ctransitory\u201d sentiments by Fed Chairman Jerome Powell. Powell believes supply chain bottlenecks are the main culprit for inflation. Well, […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[5496,303,426,5479,827,3650],"class_list":["post-59953","post","type-post","status-publish","format-standard","hentry","category-economics","tag-armstrong-economics","tag-fed","tag-inflation","tag-martin-armstrong","tag-united-states","tag-us-federal-reserve"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/59953","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=59953"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/59953\/revisions"}],"predecessor-version":[{"id":59954,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/59953\/revisions\/59954"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=59953"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=59953"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=59953"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}