How Gigantic Ships Are Creating Global Supply Chain Havoc

Odd Lots

#Finance #Business Disciplines #Trading #Bloomberg #Business News #News #Business #News Talk

1:54

Jerry Seinfeld jokes about the phrase "it is what it is' in his Netflix special, "23 Hours To Kill".

4 years ago 31:46

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The Ever Given has been freed from the Suez Canal. But the whole situation was indicative of a broader issue in global supply chains: increasingly large ships are contributing to logistical bottlenecks. This was true long before the latest issue on the Suez. On the latest episode of Odd Lots, we speak with economist and historian Marc Levinson, the author of the book The Box, to discuss the rise of extremely large ships and the stress they place on ports, canals, and other parts of the global trading infrastructure.

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1008 episodes

How Gigantic Ships Are Creating Global Supply Chain Havoc

Odd Lots

4,605 subscribers

published 4 years ago

MP3•Episode home

See omnystudio.com/listener for privacy information.

1008 episodes

#Finance #Business Disciplines #Trading #Bloomberg #Business News #News #Business #News Talk

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1
Jim Egan on the Mortgage Gap That's Dividing America 35:26

1 day ago35:26

35:26

Somehow, the American consumer remains quite strong. Despite higher interest rates, tariffs, general economic uncertainty and so forth, people are continuing to spend. And yet there are some pockets of weakness that you can observe, especially if you look at delinquency data for various types of credit. But even here the patterns aren’t totally obvious, as it doesn’t break down nicely among prime vs. non-prime borrowers. But there is one important divide: Do you have a ZIRP-era mortgage or not? According to Morgan Stanley housing strategist Jim Egan, there is a massive difference in how strained people are for those who locked in their housing costs prior to 2021 vs. those who didn’t. People with ZIRP-era mortgages are benefiting from low stable payments (which have declined on a real basis), as well as broad equity accumulation. Those who didn’t are much more strained in their finances. We discuss how this is playing out, as well as the state of the housing market more broadly, which has seen rising inventories, and the possibility for an overall downturn in prices nationwide. Only Bloomberg.com subscribers can get the Odd Lots newsletter in their inbox — now delivered every weekday — plus unlimited access to the site and app. Subscribe at bloomberg.com/subscriptions/oddlots See omnystudio.com/listener for privacy information.…

1
The Big Gulf AI Deal That's Divided the White House 26:50

4 days ago26:50

26:50

Back in May, President Trump announced this big plan whereby American tech giants would participate in major AI projects in both Saudi Arabia and the United Arab Emirates. The announcement has created divisions within the White House, and more generally among people who are thinking about the intersection of artificial intelligence and geopolitics. One argument is that this is great news geopolitically, because it gives American technology a beachhead in this crucial region. Another argument is that by exporting the chips abroad, it creates a possibility that some of the technology will leak to China, or benefit China in some way. On this episode we speak with Bloomberg News reporter Mackenzie Hawkins, who covers tech and geopolitics in Hong Kong, about the deals, the divisions, and what to watch next as the US looks to maintain its edge in these key areas. Only Bloomberg.com subscribers can get the Odd Lots newsletter in their inbox now delivered every weekday plus unlimited access to the site and app. Subscribe at bloomberg.com/subscriptions/oddlots See omnystudio.com/listener for privacy information.…

1
Trump Economic Advisor, Stephen Miran, on Tariffs and Tax Cuts 40:25

5 days ago40:25

40:25

The Trump administration seems to have a lot of big ideas about reshaping America, including its economy. We've seen the unveiling (and delaying) of sweeping tariffs aimed at boosting US manufacturing. The 'Big, Beautiful Bill' is currently working its way through Congress and features a lot of supply-side economic ideas, including an extension of tax cuts. So do all of these things work together to boost growth? What happens if that growth doesn't materialize? What is the administration's ultimate vision for the US economy? And what are they seeing right now in terms of things like inflation and employment? We speak with Stephen Miran, Chair of the Council of Economic Advisers at the White House. See omnystudio.com/listener for privacy information.…

1
Ricardo Hausmann on What it Takes to Win a Trade War 44:07

6 days ago44:07

44:07

The focus of Trump's trade policies is clearly China. There are tariffs on everyone, of course, but it's the growing Chinese manufacturing might, and the various perceived risks associated with that, which have catalyzed this impulse to rethink how America trades with the rest of the world. But can the US actually move the manufacturing center of gravity? On this episode we welcome back Harvard Professor Ricardo Hausmann. We've had him on before to talk about the importance of economic complexity -- the capacity to build complex things -- in measuring the wealth of nations. On this episode we use that lens to discuss tariffs and the trade war, and the risks that the new administration's policies will play in reducing our capacity to build the most advanced things. Only Bloomberg.com subscribers can get the Odd Lots newsletter in their inbox now delivered every weekday plus unlimited access to the site and app. Subscribe at bloomberg.com/subscriptions/oddlots See omnystudio.com/listener for privacy information.…

1
Vladislav Zubok on What the Cold War Actually Was 55:10

9 days ago55:10

55:10

These days, it's common to talk about the emergence of a New Cold War that exists between the US and China. It's debatable whether or not this is a useful framing. But in order to answer the question, it requires that you have some conception of what the original Cold War actually was. Vladislav Zubok, a professor at the London School of Economics, has a new book out on exactly this question. In The World of the Cold War: 1945-1991 , Zubok attempts to explain how we should understand this period, which he sees as both an ideological battle, as well as a geo-strategic one — and also a battle that the two main actors (the US and the USSR) saw very differently at the time. In addition to understanding the contours of that tension, we discuss its applicability today, as the new administration attempts to re-arrange our relationship with China and the Middle East, as well as other rivals, allies, and partners. Only Bloomberg.com subscribers can get the Odd Lots newsletter in their inbox — now delivered every weekday — plus unlimited access to the site and app. Subscribe at bloomberg.com/subscriptions/oddlots See omnystudio.com/listener for privacy information.…

1
Introducing: Everybody's Business 1:27

10 days ago1:27

1:27

Bloomberg Businessweek brings you a smart and fun chat show about all things...business. Hosted by award-winning business and economics journalists Max Chafkin (author of The Contrarian: Peter Thiel and Silicon Valley’s Pursuit of Power) and Stacey Vanek Smith (former co-host of NPR’s Planet Money and reporter for Marketplace), Everybody's Business is powered by the unparalleled sources and reporters who bring you Businessweek magazine’s headlines and the stories behind them. The show gives listeners a window into the discussions happening in boardrooms, Zooms and group chats in power centers around the world. From interpreting Fed meetings to the business of wolf cloning, each week Max, Stacey and their friends at Bloomberg Businessweek guide listeners through what really went on during the last week from Wall Street and Main Street. Because what’s happening with money and markets is everybody’s business. See omnystudio.com/listener for privacy information.…

1
A Major American Egg Farm Just Lost 90% of its Chickens 21:19

11 days ago21:19

21:19

Egg prices have come down a lot since their recent record and bird flu has largely faded from the headlines. But the epidemic is still raging and, per one farmer, risks becoming endemic in the US. Glenn Hickman is president of Hickman's Egg Ranch in Arizona, one of the largest egg producers in the US. You might remember him from our series last year, Beak Capitalism , in which we explored some of the thorniest issues facing the US economy through the medium of chickens. Well, news from the Hickman farm since then hasn't been good. A bird flu outbreak has led to the destruction of 90% of Glenn's chicken stock. We talk about the impact on Glenn's business, egg prices, and why the US isn't vaccinating its chickens. Check out Beak Capitalism Read more: To Understand America’s Egg Crisis, Look to China’s Pork Only Bloomberg.com subscribers can get the Odd Lots newsletter in their inbox — now delivered every weekday — plus unlimited access to the site and app. Subscribe at bloomberg.com/subscriptions/oddlots See omnystudio.com/listener for privacy information.…

1
Lots More on What America's Busiest Port is Seeing from the Trade Tariffs 16:52

12 days ago16:52

16:52

We're about two months on from Liberation Day, and there's still a lot of confusion about what's going on with global trade. Some countries, like China, have been granted delays from tariffs. But other trade restrictions, like the 50% tariff on foreign steel, have come into effect. So what exactly is going on and what impact is this having on the physical flow of goods into America? In this episode, we catch up with Gene Seroka, executive director of the Port of LA, to get a sense of what he's actually seeing and what it means for US consumers and the prospect of empty store shelves. Read more: Port Leaders Warn Tariffs Bring ‘Radical Uncertainty’ to Economy Empty Store Shelves Might Be Coming Sooner Than You Think Only Bloomberg.com subscribers can get the Odd Lots newsletter in their inbox — now delivered every weekday — plus unlimited access to the site and app. Subscribe at bloomberg.com/subscriptions/oddlots See omnystudio.com/listener for privacy information.…

1
Jersey City's Mayor on How the City Built So Much Housing 39:39

13 days ago39:39

39:39

To some extent, at least in big cities, it feels as though the cost of housing is enveloping almost everything else in terms of politics right now. Booming areas that drive GDP have gotten incredibly expensive in large part thanks to rent, and even the well paid residents are forced to turn over a significant share of their income over to their landlord. So can anything be done about it? Can rent come down by liberalizing supply and making it easier to build? And can that scale? And what about developers that only want to build luxury-rate housing? On this episode of the podcast, we speak to Steven Fulop, the mayor of Jersey City, which sits directly across the river from NYC. Fulop is a candidate for the Democratic Party's nomination for governor and he says his time in office in Jersey City proves cities can turn the dial on housing supply. We talk about why Jersey City has added so much to its housing stock, what can be attributed to his policies, and what he thinks can be accomplished at the state level both in terms of housing and improving public infrastructure. See omnystudio.com/listener for privacy information.…

1
Why It's So Hard for Apple to Move Production from China to India 46:02

16 days ago46:02

46:02

President Trump wants Apple to make iPhones in America. The company itself has talked about — and to some extent already has been — moving more of its production to other countries, like India. But in reality, Apple remains deeply, deeply enmeshed in the Chinese supply chain. In fact, the rise of Apple, and the iPhone specifically, is the ultimate example of the link between the American and Chinese economies. And while this has been fruitful for shareholders all around the world, and contributed greatly to Chinese economic development, this relationship is also now perceived to be a huge source of geopolitical vulnerability for the United States. On this episode, we speak with Patrick McGee, a reporter at the Financial Times and the author of the new book Apple In China: The Capture of the World's Greatest Company . He talks to us about how Apple discovered the opportunity of doing more manufacturing in China, and how close the company has become with Chinese political leadership. We walk through both the politics and the economics that makes it almost impossible to imagine the company building its products anywhere else at significant scale. Odd Lots Live is returning to New York City on June 26. Get your tickets here! See omnystudio.com/listener for privacy information.…

1
How Do We Define a Currency? 57:52

18 days ago57:52

57:52

What is a currency? This turns out to be one of those questions we just kind of skip over because we don't have clear answers to it (and because economists often like to skip over these foundational things). This special episode of the Odd Lots podcast was recorded as part of Princeton University's “How to Write the Biography of a Currency” event , hosted by the Princeton Economic History Workshop and the Julis-Rabinowitz Center for Public Policy & Finance. In this discussion, we talk about how we should define a currency and how that definition has changed (or not) over time. Our panelists were Iñaki Aldasoro, an economist at the Bank for International Settlements, Indiana University Bloomington Professor Rebecca Spang, and Stefan Ingves, the former head of the Sveriges Riksbank, the central bank of Sweden, from 2006 to 2022. Read more: Dollar Drops on Renewed Trade Uncertainty, Soft Economic Data Asia’s $7.5 Trillion Bet on US Assets Is Suddenly Unraveling Only Bloomberg - Business News, Stock Markets, Finance, Breaking & World News subscribers can get the Odd Lots newsletter in their inbox each week, plus unlimited access to the site and app. Subscribe at bloomberg.com/subscriptions/oddlots See omnystudio.com/listener for privacy information.…

1
Krishna Memani on Wall Street's Very Expensive "Free Lunch" 39:20

19 days ago39:20

39:20

We're told over and over again that the one "free lunch" in investing is diversification, and that you can improve your returns over time simply by investing in a wider range of assets. This is textbook modern finance. And yet over the past several years this hasn't been the case. An investor would have done great (with the occasional hiccups) just by investing in US stocks. What's more, even within US stocks, investors should have concentrated on big tech stocks. Going long US tech has been identified as the most crowded trade by investors for years, and yet most of the time it has outperformed almost everything else. So what are the lessons from this story? And is now the moment where international diversification is going to work? On this episode, we speak with veteran portfolio manager Krishna Memani, who is now the chief investment officer at Lafayette College. Previously, he was the CIO at OppenheimerFunds, which got bought by Invesco. We talk about portfolio theory, the tragedy of the prudent international investor over recent decades, and whether that realized return we've seen across a range of asset classes should prompt a fundamental rethink of finance theory. Odd Lots Live is returning to New York City on June 26. Get your tickets here! See omnystudio.com/listener for privacy information.…

1
Michael Cembalest on Why AI Is the Stock Market Bet of the Century 58:52

19 days ago58:52

58:52

Michael Cembalest has been an investment analyst for almost 40 years and his research notes have drawn a cult following on Wall Street. He's known for going super deep into a wide range of topics, like energy and healthcare. And lately he's been writing a lot about AI, with a particular interest in figuring out whether all the investment in data centers and compute will translate into actual profits. On this episode, we talk to the chair of market and investment strategy for JPMorgan Asset Management about why AI is the market "bet of the century," why the dominance of US big tech can't be overstated, and why he's pessimistic about the outlook for small modular nuclear reactors. Odd Lots Live is returning to New York City on June 26. Get your tickets here! See omnystudio.com/listener for privacy information.…

1
Why Asset Allocators Love Multi-Strategy Hedge Funds 49:43

23 days ago49:43

49:43

Multi-strategy hedge funds have been having a moment with big asset allocators pouring billions of dollars into names like Millennium and Citadel. And given all the growth, multi-strat funds have also been battling each other for talent. But why, exactly, do big investors seem to love multi-strats so much? What actually makes a multi-strat good to invest in? And how do fees and compensation work? In this episode, we speak with Ronan Cosgrave, a partner at Albourne Partners, which advises institutional investors on investing in hedge funds and other alternative asset classes. We talk about key differences between multi-strats and pod shops, plus the importance of pay to the business model. The Math Powering Profits at Multi-Strategy Hedge Funds Multistrategy Hedge Funds Delivered Again in 2024 Odd Lots Live is returning to New York City on June 26. Get your tickets here! See omnystudio.com/listener for privacy information.…

1
Zohran Mamdani, the Socialist Who Could Be NYC's New Mayor 46:58

26 days ago46:58