Somebody asked me to look into it and I did… it’s not good.
SITREP: East Coast Port Strikes
• The port strike, involves dockworkers from the International Longshoremen's Association (ILA), is set to commence at midnight TONIGHT, affecting ports across the East and Gulf coasts of the United States.
• Scale and Impact:
Approximately 45,000 dockworkers are expected to go on strike. This could potentially shut down 36 ports which handle roughly half of the goods shipped into and out of the U.S.
• This strike could lead to significant disruptions in the supply chain, potentially causing delays and price increases for a wide range of goods from automotive parts, electronics, to food items like fruits, coffee, and even holiday goods.
• Economic Impact:
Some sources suggest losses could reach up to $4.5 billion daily if the strike continues.
- Why are they Striking?:
The ILA is demanding a substantial wage increase, reported to be around 77% over six years, and stricter controls or bans on automation in port operations. This automation, which includes cranes and container-moving technologies, is at the heart of the dispute, with workers fearing job losses.
• Preparation:
Many businesses have shifting shipments to West Coast ports or preparing for extended supply chain disruptions. I encourage everyone to stock up on essentials. Today… don’t panic.. but just get what you need.
• What is Biden/Harris Doing?
Nothing… absolutely nothing…
President Biden has the ability to use emergency powers under the Taft-Hartley Act, which would allow him to order the workers back to work.
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