When former President Donald Trump pushed to make America self-reliant, globalist Democrats and their cohorts in the fake news media twisted the narrative to “isolationism.” But critics of economic independence avoid pesky facts about foreign corporations dictating the cost of goods in every U.S. community.
The unchecked inflation working families are struggling through in 2021 is the result of decades of presidential surrender, starting with disgraced ex-President Bill Clinton. The so-called global markets movement was nothing more than a bending of the knee to foreign powers and corporations. Or, as many are realizing today, America Last policies.
With Democrats raising taxes on wealthy Americans and corporations, they literally drove manufacturing plants overseas. China didn’t employ any special trickery to siphon off our companies and jobs. Democrats handed them over with a pretty bow on top. But coal-fired manufacturing plants in China and India are just the tip of the spear. With so many goods and materials coming from other countries, the large corporations in those regions now hold sway over what American consumers pay. One recent example that should have working families very concerned involves logistics.
U.S. ports are currently experiencing a massive logjam because they lack the truck drivers and other transportation infrastructure to unload containers filled with imports. Those containers are what some might consider a hidden cost in transporting goods and materials. Much like diesel fuel hikes and shutting down oil pipelines causes prices to rise, container companies are now able to increase prices, and there’s little Americans can do about it.
A reported six foreign corporations control upwards of 70 percent of all container capacity and none of the 10 largest outfits are in the U.S. According to recent reports from the Wall Street Journal and others, foreign corporations recently jacked up the price of container capacity at least four times the standard rate.
“A few years ago, we would get a half-dozen competitive freight offers from shipping companies within a couple of hours,” Mark Murray, owner of North Carolina’s DeSales Trading Co., reportedly said. “Now it’s a couple of days to get an offer from one of the big boys, you have to pay crazy freight rates and your shipment is months late. Our hands are tied.”
The world’s largest container corporations include Maersk Line (Denmark), Mediterranean Shipping Company (Switzerland), CMA CGM (France), COSCO (China), Hapag-Lloyd (Germany), Ocean Network Express (Japan), and rounding out the top 10 are outfits in South Korea, Israel, and a pair of outfits in Taiwan. Some rank America’s largest container company at 23rd.
Since the pandemic began winding down, foreign CEOs decided to crank up the cost from an industry-standard $3,000 per container use to nearly $10,000. Companies desperate to move their goods and materials are reportedly yielding to extortion, paying nearly $20,000 in some cases.
Although the U.S. typically sees approximately 11 million containers imported each year, ports such as Savannah, Long Beach, and Newark appear to be on a record-setting pace that will likely exceed 12 million. Foreign corporations will jack up the costs of everything inside those containers until America becomes self-reliant.