“Supply chains” as a political topic or even a popular meme? Over. You can still watch goods moving snakelike through the global transit system with ships unloading and loading containers. The clearing of backlogs may seem slow. But the worst is over.

After most of the delayed deliveries are made, perhaps a bit after Chinese new year in February, then we can move on to the next political topic and meme: recession. After all, why will consumers order new stuff if it turns out they over-ordered in 2020 and 2021?

I do not come lightly to the conclusion. I have checked so much port data that in my dreams I hold a shockproof bar code reader in my hand. And stocks in major listed container shipping line equities such as Maersk, Zim Integrated Shipping Services and Danaos Shipping all turned down at about the same time in late September.