Jamie Diamon proclaims the viability of ‘Supply Chains’, with help from fellow ‘Globalists’, in The Financial Times.

Political Skeptic comments.

Who better to proclaim the viability of ‘Supply Chains’ than the redoubtable Jamie Diamon? The Economic Utopianism of the twins of Globalism/Neo-Liberalism have experienced collapse, that date from 2008, with catastrophic consequences for ‘we’ lesser beings of the planet. Yet in the attempt of this report/essay to construct a carefully confected History Made to Measure , reads like what it is a wan apologetic for the failure of that Globalism/Neo-Liberalism.

Mr. Diamon issues this economic proclamation:

“This will not be an issue next year at all,” said Jamie Dimon, JPMorgan Chase chief executive, at the Institute of International Finance conference this week. “This is the worst part of it and the great market system will adjust for it.” 

Followed by Brian Moynihan:

“Six months ago when this was raised to me by clients around the country . . . you never would have thought it would have gotten so much worse since then,” said Brian Moynihan, Bank of America chief executive, on Tuesday.

More from fellow traveler Charlie Scharf:

Charlie Scharf, Wells Fargo chief executive, expressed similar surprise at the extent of the disruptions, but said he believed the problems were “transitory”.

The barrage of propaganda never stops:

I think we understand the intricate interconnectedness of the global supply chain and in ways that . . . people more broadly probably don’t,” Scharf said. “What we just have to protect against is people making decisions that exacerbate the problem, which is trying to add to inventories too quickly.”

Moynihan said it was too soon to say whether or not the shortages would lead to price increases that make goods unaffordable: “That’s the grave concern right now.”

https://www.ft.com/content/0dd1622d-883a-44a8-80c4-079fc5e90fab#comments-anchor

The collapse of the myth of ‘Supply Chains’, in the Age of Pandemics, present an imperative: the reestablishment of indigenous manufacturing bases, within the individual Nation States of the world. As a founding principal to replace the utterly failed, misbegotten Globalism/Neo-Liberalism Mythology!

Political Skeptic

About stephenkmacksd

Rootless cosmopolitan,down at heels intellectual;would be writer. 'Polemic is a discourse of conflict, whose effect depends on a delicate balance between the requirements of truth and the enticements of anger, the duty to argue and the zest to inflame. Its rhetoric allows, even enforces, a certain figurative licence. Like epitaphs in Johnson’s adage, it is not under oath.' https://www.lrb.co.uk/v15/n20/perry-anderson/diary
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