Whoo-hoo! IRS postpones April 15 tax deadline for Texas residents, businesses. LOL. Who wudda thought? June 15, 2021, new deadline.
Boom. US factories can't keep up. This is an incredible story over at The WSJ. Some excerpts:
- U.S. manufacturers aced the shutdown of their factories and warehouses last spring in response to Covid-19. They’re botching the recovery.
- The boating industry was preparing for a downturn but instead sales jumped;
- Consumer spending on long-lasting goods in the U.S. rose 6.4% last year but domestic production of those goods fell 8.4%
- Wanxiang America Corp., the U.S. arm of one of China’s largest auto-component manufacturers, quickly reopened its U.S. plants last spring. But transportation bottlenecks have lengthened the lead times needed to get parts from its sister plants and other suppliers in China to Chicago to 10 weeks from four typically.
- When demand increased unexpectedly last year, the same companies all placed orders at once into increasingly diffuse networks of far-flung suppliers. The result was a bullwhip crack more dramatic than usual that could eventually cause an oversupply in some industries
- Dimarmel Inc., the maker of Simplicity Sofas, is looking to expand into more factory space near its plant in High Point, N.C., to cut delivery times that have stretched to eight months during the pandemic. But Simplicity Sofas founder Jeff Frank said that he can’t find enough skilled sewers to staff new production lines, and that some fabrics take months to arrive from suppliers.
- Retailers slashed orders for Stanley Black & Decker Inc.’s power tools, wrenches, tape measures and utility knives by 40% a week last April from a year earlier. By May though, CEO James Loree said those retailers were selling about 30% more of the company’s products than than a year earlier, as homebound consumers tackled renovations and yard work.
- And it goes on and on.
Half million Covid deaths, on Biden's watch. Actually, a lot of those deaths under the previous administration, but it is what it is.