Biden Accuses Shipping Companies of Price Gouging

It's normal to ask “What is the government doing?” when problems arise. But, as Ronald Reagan schooled us, the worst nine phrases used in the English language are: “I'm from the government and I'm here to help.” More than that, there is no such thing as the essence of our government. We're not a dictatorship. There's no king who is ruled by a fiat. The government isn't the one who dictates what we should do. However, as much power as we permit the government to exercise, the greater power those that are in power will have.

We've already seen Biden overstepping what is required through executive power laws along with the Defense Production Act. For instance, he's used the Defense Production Act to increase the production of solar panels saying that it's due to energy-related issues. What has that got to do with rising gas prices? That was the reason he used the wrong application of this law, to make solar panels more efficient to suit his political goals. Does anyone earn money because of this?

In an effort to distract from his mistakes with regard to the rising cost of gas and inflation, Biden has also been attacking private businesses similar to oil companies, by threatening them, and accusing them of “greed” for the rise in prices, when it's actually his fault policy choices that destroyed the energy sector. Instead of allowing private business, and thus encouraging the growth of private industry in a way that is better for Americans, Biden is always trying to limit it through strict regulation that hinders development and industry.

Now Biden is attacking shipping companies. On the 10th of June, he was threatening to “pop 'em” — that is, punch the employees who run these shipping firms.

This is the man we're dealing with, who has the ability to access nuclear codes? Yeesh.

Biden has announced bipartisan legislation imposing restrictions on shipping companies, declaring the existence of “nine companies”-who were in control of everything-that cost more.

Just like the oil companies, the same thing happens with Biden. Biden's claim isn't the truth. We're supposed to believe that each of these entities suddenly became greedy? Why didn't they become as shrewd under the presidency of Donald Trump? The truth is that it's different from what Biden declares, and it's the reason that the World Shipping Council (rightly) will let Biden have it.

The World Shipping Council, whose members include Hapag-Lloyd and Maersk, has shattered Biden's description of the shipping industry in a statement issued on Thursday:

“The Federal Maritime Commission has found that “ocean carrier competition is ‘vigorous' and that while ocean freight prices are high, they are ‘exacerbated by the pandemic, an unexpected and unprecedented surge in consumer spending, particularly in the United States, and supply chain congestion, and are the product of the market forces of supply and demand,” the shipping company said.

“The tired and dated claim that there are only nine ocean shipping companies that operate between Asia and in the United States' is also not true. While the existence of nine lines in and alone is evidence of competition, not concentration, there are additional 13 ocean liner companies which have operated more than 30 percent of voyages that have been made from Asia towards the U.S in the first half of this year.”

What Biden has stated is not true. The cost of doing business has increased due to the need to address all the problems of supply chain congestion, which Biden just seems to ignore. He believes that he can control them or get rid of them.

Hot Air's Ed Morrissey observes that the shipping business isn't doing hand-to-fist as Biden says. Ed states that the shipping sector suffered operation losses of nearly 3 billion dollars in the year 2021. He also makes an interesting insight — assuming this is the case, supply chain issues are not new since Biden became president, so why is he only discussing this issue now?

The goal of this is to appear to his base of leftists that Biden is turning the screws on the evil and greedy corporations since the majority of the left-wing base perceived Biden as being ineffective in all issues, much like the right-wing base has. However, at a time where the problem is that businesses have been faced with a myriad of issues or regulations, Biden intends to introduce more regulations to the mix-perhaps with threats?

Christine McDaniel, an international trade economist, who is the Senior Research Fellow for George Mason University, knocked off Biden's claims of price over-spending and the monopoly. She explains that it was demand and supply in the wake of the pandemic's problems.

Additionally, McDaniel explains that Biden will be removing these rules on the industry at the same time that the congestion appears to be decreasing, and adding this to the problem could only make matters worse.

But at the very least,  Biden will be able to say that “I did something,” right? If things turn out to be worse, as they do with all other things Biden does, the message from the White House platform will always be “Not my fault, blame Putin.”

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