"You product can't get stuck on a cargo ship if it's made in America." That's what critics of America's dependence on Chinese production are saying as cargo ships are lined up off the coast waiting to be unloaded in California. Now companies are grappling with what to do about their problems. Willy Shih discusses supply chain turmoil in The Wall Street Journal, writing: Supply chains as front-page news? That would have seemed unlikely—until the pandemic exposed many of the vulnerabilities in the far-flung networks that connect manufacturers, suppliers and buyers around the globe. At first, … [Read more...]
Archives for December 2021
WARNING: Invest at Your Own Risk—How to Lose $2 Billion in 10-Years
“How to Lose $2 Billion in 10 Years: Unpaid Bills Pile Up for Former Hedge-Fund Star: Philip Falcone is in a decadelong battle with the many people he owes money. They include ex-employees, a law firm and limo companies,” explains Rachel Louise Ensign in The Wall Street Journal. You see up close how quickly things unravel and shockingly, this guy was trusted to manage investors’ money. Ensign writes: Mr. Falcone became a hedge-fund billionaire betting on the subprime mortgage crisis. Then investors pulled money from his firm, Harbinger Capital Partners LLC, after a stretch of spotty … [Read more...]
THE BAD OLD DAYS ARE BACK: Highest Inflation Since 1982
Americans are currently suffering through the highest rates of inflation since 1982. In Bloomberg, Reade Pickert discusses the rapid inflation emptying Americans' wallets today, writing: U.S. consumer prices rose last month at the fastest annual pace in nearly 40 years, underscoring how rapid and persistent inflation is eroding paychecks and increasing pressure on the Federal Reserve to tighten monetary policy. The consumer price index climbed 6.8% from November 2020, according to Labor Department data released Friday. The widely followed inflation gauge rose 0.8% from October, exceeding … [Read more...]
Ports in Right to Work South Carolina Handle Record Number of Containers
In my conversations with you, you’re telling me how much you loved your recent long weekend in Charleston, SC. What’s not to love? A long-time favorite of Your Survival Guy, South Carolina gets the job done. In November, the ports of South Carolina, including the Port of Charleston, handled more shipping containers than in any previous month. Mike Schuler reports: South Carolina Ports, which includes the Port of Charleston, has come out with its monthly cargo numbers for November, showing the port set a new all-time record for containers handled by the port in a single month. SC Ports … [Read more...]
STRATEGIC THREAT: China Aims to Dominate Rare Earth Minerals Market
China already controls much of the world's trade in rare earth minerals, which are vital to many new technologies from cell phones to fighter jets. Now the country's leadership is aiming for more control. Given China’s history with rare earths, there should probably be tariffs on any rare earth metals produced in the country to allow foreign competition. Keith Zhai reports in The Wall Street Journal: China has approved the creation of one of the world’s largest rare-earths companies to aim to maintain its dominance in the global supply chain of the strategic metals as tensions deepen with the … [Read more...]
DON’T LET THEM WIN: Politicians Want Your Money Even When You’re Dead
Shame on politicians for moving the goalposts on investors every four years or so, especially the rules governing estates and all types of IRAs. Planning one’s estate shouldn’t have to change with who’s in charge of the White House. But that’s the world we’re living in today. I’ve never been busier this time of year, working through these types of issues with investors. It’s a disservice to those who’ve done without and saved until it hurt. Now they have to worry about how to protect what they earned—yes, they earned it—from a government that’s supposed to work for them, not … [Read more...]
PROTECTIONISM: China Begins Closing the Door to Foreign Tech Investors
China is tightening restrictions on foreign investment in its tech firm, reports Ryan McMorrow in the Financial Times. McMorrow writes: China is preparing a blacklist that is expected to tightly restrict the main channel used by start-ups to attract international capital and list overseas, in a bid to limit the role of foreign shareholders in the country’s next generation of tech companies. The blacklist will target new companies in sensitive sectors that use so-called variable interest entities to run their China businesses, according to four people familiar with the matter. They did not … [Read more...]
APPETITE FOR CHANGE? Union’s Deere Strike Strategy Could Be Template for the Future
In an interview with The Wall Street Journal, the new general president of the International Brotherhood of Teamsters, one of America's largest unions, signaled a more aggressive approach to negotiations going forward. Allison Prang reports: WSJ: You’re taking over for one of the country’s biggest unions amid a worker shortage. What do you make of the current environment? Mr. O’Brien: I definitely think it’s encouraging to say the least because we’ve been fighting our entire lives as leaders, as rank-and-file members, to grow our organizations and I think it’s our time. I think there’s a … [Read more...]
IT HURTS: Americans Are Feeling the Inflation Pain
Americans are feeling the price inflation happening in their country today. It turns out, unsurprisingly, they don't like it. Aaron Zitner reports for The Wall Street Journal: Inflation has emerged as a pressing concern for American voters, with majorities saying it is causing them at least some financial strain and is bound to get worse, a new Wall Street Journal poll finds. Some 56% in the new survey said inflation was causing them major or minor financial strain, including 28% who said they felt major pressures. More than half said gas and groceries were among their greatest concerns … [Read more...]
The Least Affordable Housing Market in the U.S.
When Boise, Idaho leads the list as “The Least Affordable Housing Market in the U.S.,” something’s not quite right. Don’t get me wrong—Boise has access to it all. But least affordable in the U.S.? Hear that sucking sound? It’s Boise, and places like it, pulling all the monied “residents” from San Fran, Portland, Seattle, and Rte. 128 (outside of Boston) into the community. They’re looking to places of freedom like New Hampshire, Texas, and Florida, to name a few. They’re looking for a big backyard and a playground for the weekend or for six months and a day. But what is affordable? I … [Read more...]