“Sleeping Giant”: America Is Inches Away From Another Economic Crisis as Massive Port Strike Looms

By Free Republic | Created at 2024-09-26 22:11:39 | Updated at 2024-10-01 01:50:05 4 days ago

“Sleeping Giant”: America Is Inches Away From Another Economic Crisis as Massive Port Strike Looms
Liberty Daily ^ | 9/26/24 | Owen Klinsky

Posted on 09/26/2024 2:55:17 PM PDT by CFW

Ten of thousands of dockworkers could go on strike on Oct. 1 in a move that experts say could wreak havoc on American supply chains and reignite the rapid inflation seen in the early years of the Biden-Harris administration.

The International Longshoremen’s Association (ILA) — which represents more than 85,000 workers at three dozen U.S. ports along the East Coast and Gulf of Mexico and whose members collectively handle about half of the U.S.’ maritime imports — has threatened to go on strike for the first time since 1977 if their wage and automation protection demands are not met by the United States Maritime Alliance (USMX) — the coalition representing shipping employers. The move could cost the U.S. economy roughly $5 billion a day in trade, and would massively disrupt supply chains in a way not seen since the COVID-19 pandemic, causing rapid inflation and hiking the cost of living for everyday Americans, experts told the Daily Caller News Foundation.

(Excerpt) Read more at thelibertydaily.com ...

TOPICS: Business/Economy; Crime/Corruption; Government
KEYWORDS: economy; longshoremen; shortages; strike

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There has been no word of a possible settlement of this strike. If the longshoremen Strike, the movement of goods comes to a standstill and prices skyrocket.

1 posted on 09/26/2024 2:55:17 PM PDT by CFW

To: CFW

I’m sure Jerome Powell had this in mind when he declared victory over inflation. May as well have Krugman running the fed. Idiots.

2 posted on 09/26/2024 2:57:39 PM PDT by HYPOCRACY (Brandon's pronouns: Xi/Hur)

To: CFW

This would be grounds for the NDA to be invoked. Will Biden have the courage to do it?

To: HYPOCRACY

4 posted on 09/26/2024 3:01:56 PM PDT by linMcHlp

To: CFW

Trump needs to fly up there and negotiate this out Be his check mate for the the win

5 posted on 09/26/2024 3:05:07 PM PDT by al baby (I know sarcasm )

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