If there was ever an administration unequal to the challenge of mitigating product shortages and lowering inflation, it must be the Biden administration. They know they have to do something, but they do not have a clue except in the public relations department. In the real world, the administration’s actions and proposals either have aggravated or will aggravate the underlying problem(s).
Yesterday President Biden stepped forward to read from a teleprompter about the administration’s purported fixes. The White House has posted the text of his remarks under the heading “Efforts to Address Global Transportation Supply Chain Bottlenecks” (video below).
I think there is more to the underlying problems than Reuters picks up in “U.S. supply chain too snarled for Biden Christmas fix, experts say,” but even Reuters isn’t buying what Biden is selling. I’m not buying this: “I might add, parenthetically: One of the reasons why I think it’s very important that we get the — the infrastructure plan passed — my infrastructure plan — and that’s the supply chain system is almost entirely in the hands of private business.”
Quotable quote: “I want to thank my Supply Chain Disruptions Task Force, which we set up in June, led by Secretaries Buttigieg, Raimondo, and Vilsack, and by my Director of National Economic Council, Brian Deese. I want to thank them for their leadership. And I especially want to thank
Joe [John] Porcari. And I think Joe [John] has done one heck of job — my special envoy, specifically on ports, who has been working this issue with all of the stakeholders for the past several weeks.”