President Biden delivered a speech Friday in which he hoped to spin the terrible jobs report that came out this morning – one of the worst reports since taking office.
The president’s voice was noticeably affected by allergy or sickness and he coughed his way through several parts of his speech. Later, Biden attributed these to having kissed his cold-stricken grandson.
During the speech, Biden pointed to a “40% reduction” in the number of containers staying at the ports of Los Angeles and Palm Beach in California for more than 8 days. The president stated that the reason there were fewer containers was that they were moving inland faster. This appears to be misinformation, as we reported earlier this week.
One factor is that fines were placed on containers staying longer than 8 days making it less expensive to keep them on ships offshore. The second is that California instituted a queuing system pushing ships more than 150 miles offshore instead of inside the 40-mile port queue. The actual number of ships awaiting entry into the two ports is near record highs, but the fines and queuing B.S. give them some fine talking points.
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