Stocks week ahead: How America ruined Christmas
Although the pandemic lit the match, the United States has been setting up this bonfire of supply chain failures for years. The government has drastically scaled back investments in manufacturing, hamstrung the postal service and engaged in petty trade wars that have made the pandemic era especially painful for consumers.
Gutting the mail: The US Postal Service is something of a hot mess right now — short on funding and workers, and burdened by the pandemic-era influx of packages.
It’s about to get worse. As of this past Friday, mail in the United States is more expensive and, in many cases, much slower, thanks to a new and controversial service standard that reduces post office hours and charges consumers peak shipping rates. Just in time for the holidays! The USPS’ terrible financial situation is largely Congress’ fault. Ironically, the USPS is cash-flow positive. But the agency, which receives no taxpayer funding, has been…
