The cover story in a prominent maritime journal last month stated that, “A lack of federal dredging funds in the president’s 2012 budget has produced a lot of political wrangling and could impact, one way or another, the fortunes of the Panama Canal’s post-Panamax widening.”

The story goes on to say that, “Container ports on the U.S. East and Gulf coasts need to dig deeper.

“At stake: the ability in a few years’ time to usher in a new era of cargo handling where mega-ships and their attendant economies of scale are projected to move ever eastward from the traditional deeper-water setting of North America’s West Coast ports …”

Think about it – because none among those in authority think we have the ability to see through this scam.

If, indeed, Panama authorities think their canal should be widened, then why don’t they just go ahead and do it? Why is it necessary for Rodolpho Sabonge (a.k.a. Senor Sponge) to make repeated trips to U.S. port functions and conferences? Could he be looking for a cut of the federal monies being sought by lobbying U.S. port authorities?

Is it possible that we – the unsuspecting U.S. taxpayers – are really the source of the multi-billion dollars intended to fund that Panamanian fiasco?

And think about this. The cover story went on to say that, “The 8,500-TEU CMA CGM Figaro – the largest containership ever to call the Port of Savannah, Georgia – arrived there last year half-loaded, so it could keep its hull from scraping the river bottom …”

Is that hogwash, or what? In the first place, no self-respecting owner would send a man on a boy’s errand – if you get the drift. And secondly, the main reason for the half-load was because there was no demand by buyers in the Savannah area for any more than that half-load. If there had been a demand for a full 8,500-TEUs, don’t you think the carrier would have sent two 4,250-TEU ships to meet that demand?

Another thought. Ask the 20-something million unemployed folks in the U.S. if they honestly believe that “in a few years’ time” they’ll be in a position to participate in the “attendant economies of scale” that those transportation and maritime experts keep telling us about.

The real answer to this scam – this next hoax – is seen in a follow-up paragraph of the cover story.

“MAD DASH DOWNWARD”, is the bold intro.

“Meanwhile, there is a mad dash for permitting and federal monies to dig down for the rest of the port players …” [Like for their six-figure salaries and bonuses, maybe? Now do you get the drift?]