southern california coast. we are there and have been for the last few weeks, out on the weather near the ships. william. john, it is so crowded out here, 109 are waiting to get into port. half are anchored and the other half are drifting up and down waiting for a spot to open up. we re about two miles off the coast or port of l.a. and long beach and all the ships you see right now are ark assigned a parking spot. they will be called in and offload, that takes three to five days and another few days to unload imports. some are monsters, up to three football fields long, 50 yards wide and can weight of 20,000 small cars. to illustrate what is going on with this wait time and how it is affecting individual ships,
no one to offload. and no one to export. do i sound like shatner right now? back to news. this is the mark of the blob. and that s why the man who is most threatened by the blob, president biden, went there to take it on. the port of los angeles announced today that it is going to begin operating 24 hours a day, seven days a week. this follows the port of long beach s commitment to 24/7 that it announced weeks ago. 24/7 system. l.a. and long beach are key factors in this because they control about 40% of the shipping of american goods. listen, why i am calling it the blob? it s not to be funny, certainly. this is a nebulous thing. we know there are a combination of economic indicators that are conspiring to create a slowdown. but it depends on where and what to get you to a why.
the issue is like the blob from the early sci-fi movies, this mysterious mass of manpower, motivation, and business maneuvers that is moving slowly, smothering out economy and more. this video of cargo ships in the water off l.a. port. they re not just sitting. they are stranded. why? no one to receive. no one to offload. and no one to export. do i sound like shatner right now? back to news. this is the mark of the blob. and that s why the man who is most threatened by the blob, president biden, went there to take it on. the port of los angeles announced today that it is going to begin operating 24 hours a day, seven days a week. this follows the port of long beach s commitment to 24/7 that it announced weeks ago. 24/7 system. l.a. and long beach are key factors in this because they
China’s ailing Evergrande looks set to exchange a majority stake in its property management arm for US$5 billion. Chinese media are reporting the likely sale of a 51 per cent stake in Evergrande’
volumes ever. in seattle there s 15 or so ships anchored offshore. in long beach, 60 vessels are out there, some of them waiting weeks to get into port and offload goods from all over the world, particularly from china, if you think about all the things we export from there. 60 vessels, each of them are huge, some of them rivaling the entire state building in size, each with thousands of shipping containers with the goods you re looking for. here s the problem when it comes to the economy. in terms of consumer prices, time is money. i would definitely anticipate higher prices for the consumer. it s a fact, well-established fact that the manufacturers are paying double digit and sometimes triple-digit prices higher for their inputs than they were a year ago.