East Coast Port Strike Imminent \ stacker news ~econ

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East Coast Port Strike Imminent www.cnbc.com/2024/09/30/ports-strike-truckers-rails-billions-in-cargo-shutdown.html

873 sats \ 26 comments \ @siggy47 30 Sep econ

I thought for sure this would have been settled before now.

On average, it takes one week to clear out one day of a port closure. As much as 43% to 49% of total containerized goods entering the U.S are processed through ports on the East Coast and Gulf Coast.

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217 sats \ 0 replies \ @Coinsreporter 30 Sep

We've discussed the issue on The Daily Zap' on 24th September #698667 Here's the news that said

Some 45,000 dockworkers at every major eastern and Gulf coast port are threatening to strike Oct. 1. With talks at a stalemate since June, industry officials now believe a strike is inevitable, and ocean carriers and port operators have started sending out customer advisories and making contingency plans. https://www.pressherald.com/2024/09/23/u-s-ports-are-threatened-with-strikes-in-election-season-jolt/

@Undisciplined held a view that working people aren't paid fairly and has to do more hours than they should. So, is it for pay increase or some political drama before elections. We also discussed about the political implications of this imminent strike. The mutual understanding was that Trump will profit hugely from it.

76 sats \ 1 reply \ @grayruby 30 Sep

Sounds inflationary.

40 sats \ 0 replies \ @gmd 30 Sep

I find it fascinating that they can basically be allowed to collapse our economy like this. Doctors often want to strike but it's been deemed illegal, understandably, because it puts lives at risk.

76 sats \ 2 replies \ @justin_shocknet 30 Sep

I thought for sure this would have been settled before now.

Nothing of this scale just happens organically, it's probably been sitting in a playbook for years 🍿

50 sats \ 1 reply \ @siggy47 OP 30 Sep

I'm glad someone besides me has suspicions😀

43 sats \ 0 replies \ @justin_shocknet 30 Sep

Pantry is loaded with popcorn to ride out the next ~6 mos, my hunch is the fake pandemic/2020 election is going to look tame by comparison to what's coming.

43 sats \ 4 replies \ @Satosora 30 Sep

Has the baltimore bridge collapse led to any of this?

88 sats \ 3 replies \ @Cje95 30 Sep

No its CBA expiring and union workers wanted pay raises and other increases

0 sats \ 2 replies \ @Satosora 30 Sep

Do they always strike every time their contract is up?

20 sats \ 1 reply \ @Cje95 30 Sep

Not always but given the economic conditions right now compared to where the economy was 6 years ago there are a lot more push back from unions. Wages are a huge sticking point because COVID and GOvernment spending have made life so much more expensive.

0 sats \ 0 replies \ @Satosora 30 Sep

True.

43 sats \ 0 replies \ @Undisciplined 30 Sep

I'm curious if this is fallout from the Baltimore port closure. Presumably, that shifted a lot of extra work to the other ports.

43 sats \ 13 replies \ @Cje95 30 Sep

If its not ports on the West Coast I guess its ports on the East Coast... I have to say this cannot be what Harris wants to see right now since this is going to throw the economy for a loop depending on how long it lasts

0 sats \ 12 replies \ @siggy47 OP 30 Sep

I thought for sure the administration would have been completely focused on forcing a settlement weeks ago.

43 sats \ 11 replies \ @Cje95 30 Sep

I am shocked that they didnt pull the National Security card and do so... I mean didn't they force mediation with the West Coast ports?

Also any chance you just saw Sec. Raimondo on CNBC just now? She got so mad at those pesky numbers again proving her wrong!

0 sats \ 6 replies \ @siggy47 OP 30 Sep

I thought there was talk of that last week?

43 sats \ 2 replies \ @Cje95 30 Sep

I found the deets!

According to WoPo

The White House has urged the two sides to continue bargaining in good faith, and says a supply chain task force is ready to help minimize the impacts. But officials have consistently said President Joe Biden does not plan to use his legal powers to try to force the parties to talk and end a strike, strengthening the union’s position.

and according to the AP

The U.S. Maritime Alliance says it filed an unfair labor practice charge with the National Labor Relations Board alleging that the International Longshoremen’s Association is not bargaining in good faith.

The alliance said in a prepared statement Thursday that it filed the charge “due to the ILA’s repeated refusal to come to the table and bargain on a new master contract.”

The ports are asking for immediate relief, an order requiring the union to resume bargaining.

In an email, the NLRB said it is investigating the complaint. It’s unlikely that the board would make a decision until well after the strike deadline. The NLRB says typically it takes seven to 14 weeks to decide on the merits of a charge.

So from what I am getting.... nothing is going to stop it and likely it is going to go on for at least a couple of weeks leading to retail shortages again... Toliet Paper rush 2.0?!?!?

0 sats \ 1 reply \ @siggy47 OP 30 Sep

My inner tin foil hat wearer says orchestrated emergency? QE? Election disruption? Why not utilize emergency powers? Okay, I'm done. I'll be serious again.

43 sats \ 0 replies \ @Cje95 30 Sep

I mean.... I have started to be less and less surprised over the last couple of years with wild stuff occurring. Seems to almost be a right of passage.

43 sats \ 2 replies \ @Cje95 30 Sep

TBH I was out of the loop last week. I had a seizure the week before and didn't let myself recover but I mean it should have happened but it seems it didn't. Maybe the have to start the strike for it to happen? Not sure if there is some order to things

10 sats \ 1 reply \ @siggy47 OP 30 Sep

I was thinking about your health issues. You are an incredibly strong guy. I guess we all have to deal with what's in front of us. I wish you good health. Get some rest.

43 sats \ 0 replies \ @Cje95 30 Sep

Yeah I took a day off on Friday and slept the whole weekend but I think I am good to go now!

0 sats \ 3 replies \ @siggy47 OP 30 Sep

No. I don't watch CNBC often any more. Can you give us the gist of it?

43 sats \ 2 replies \ @Cje95 30 Sep

She was hyping up the economy and how the admin has "fixed" everything. Joe Kernan hit her with how wage growth is still compared to under Trump still being behind. She tried to play the pandemic card and he played it right back at her.

She claimed some stuff I am not sure is true as well that wasn't hit on like the US having the most manufacturing and building since WWII right now... somehow I feel like the 1950's with the highway system being built would have been bigger but she said it was at its highest. Also touched on how we are having a "feather" landing... I don't think we have landed yet since the inflation rate is still higher than the 2% Fed target so uhhh still plenty of time to screw it up esp with the number getting so close now.

When Joe hit her with the wage numbers she yelled "No" which is what made me tune in lol cause it caught me off-guard. She had nothing to come back with about it though and just sat there looking pissed as hell if we are being honest lol

0 sats \ 1 reply \ @siggy47 OP 30 Sep

Apparently she wasn't properly prepped for Joe.

43 sats \ 0 replies \ @Cje95 30 Sep

To be fair I dont know if anyone ever is.... guy just has a way of slaughtering people that is remarkable to watch... I wish he had a show where all he did was just debate people for an hour... I would watch the shit outta that!