By Grand Rapids Anonymous
monday, september 30, 2024 at 11:32:00 p.m. edt
"(em) what to expect if there's a strike:"
"as many as 36 ports would have to stop operating if a strike happens, blocking almost half of the cargo going in and out of the U.S. on ships.
"if the strike lasts just a day, then it would not be noticeable to a typical consumer. however, businesses of all kinds would no doubt feel the pinch. J.P. Morgan estimates that a strike could cost the U.S. economy $5 billion every day.
"even if only a one-day strike happens, it could take about five days to straighten out the supply chain.
"if a strike lasts a week, the results would quickly become apparent to most consumers.
"some shipping companies have already begun to reroute their cargo to the west coast. even if there's no strike at all, costs will rise and the warehouses could run out of room.
"the effects on everything from bananas and cherries to chocolate, meat, fish and cheese could be severe, and the shipping disruption could also hamper trade in some prescription drugs if the strike lasts at least a week.
"if the strike were to last a month or more, supplies needed by factories could be in short supply. numerous consumer products would not be delivered. workers would be laid off. U.S. exports, including agricultural ones, might get stuck rather than shipped to their destinations. inflation might increase again. and there would be a new bout of heightened economic anxiety and uncertainty – along with immense financial losses.
"all the while, west coast ports would face unusually high demand for their services, wreaking havoc on shipping there too.
"yes, we'd have no bananas
"my research group's latest work on supply chain disruptions and the effects of various transportation disruptions, including delays, quantifies the impact on the quality of fresh produce. We did a case study on bananas.
"this isn't a niche problem.
"bananas are the most-consumed fresh fruit in the U.S.
"many of the bananas sold in the U.S. are grown in ecuador, guatemala and costa rica. about 75% of them arrive at ports on the east and gulf coasts.
"although bananas are relatively easy to ship, they require appropriate temperatures and humidity. even under the best conditions, their quality deteriorates. long delays will mean shippers will be trying to foist mushy brown bananas on consumers who might reject them. [Might?!]
"alternatively, banana growers may opt to find other markets. it's reasonable to expect to find fewer bananas and much higher prices – possibly of a lower quality. flying bananas to the U.S. would be too expensive to sustain.
"fresh meat and other refrigerated foods could spoil before they can complete their journeys, and fresh berries, along with other fruits and vegetables, could perish before reaching their destinations.
"if there's a port strike, tons of fresh produce, including bananas, that would arrive after oct. 1 would end up having to be discarded. that is unfortunate, given the rising food insecurity rate in the U.S.
"1947 Taft-Hartley act
"more than 170 trade groups are urging the Biden administration to intervene at the last minute to avoid a strike.
"the government can invoke the 1947 Taft-Hartley act, which allows the president to ask a court to order an 80-day cooling-off period when public health or safety is at risk.
"however, [fake] president Joe Biden reportedly does not plan to invoke it – even as he urges the two sides to settle their differences.
"so if you're planning to bake banana bread or were thinking you might get an early start on your holiday shopping, I'd advise you to make those shopping trips as soon as possible – just in case."
--GRA
STRIKE COMMENCES--WHEN DO THE RIOTS START?
ReplyDelete(CNBC)Key Points
Approximately 50,000 ILA union longshoremen were walking off the job at East Coast and Gulf Coast ports from New England to Texas starting at 12:01 a.m. ET on October 1 after failing to reach an agreement with ports ownership on a new contract, the union’s first strike since 1977.
Between 43%-49% of all U.S. imports and billions of dollars in trade monthly move through the U.S East Coast and Gulf ports.
The International Longshoreman’s Association, the largest maritime union in North America, rejected an offer from the port management group USMX on Monday that included a wage hike over six years near 50%.
--GRA
(Breitbart)Update 12:13 am ET: The NY Times reports, “Both sides have moved off their previous positions,” the Maritime Alliance said in a news release. “We are hopeful that this could allow us to fully resume collective bargaining.”
ReplyDeleteGRA:Glass half full ny times? Or lying. Who knows?
--GRA
(Breitbart)Port facilities from Maine to Texas were surrounded by walking picket lines in a stoppage that stands to reignite inflation and cause shortages of goods if it goes on more than a few weeks.
ReplyDeleteAP reports the contract between the ports and about 45,000 members of the International Longshoremen’s Association (ILA) expired at midnight, and even though progress was reported in talks on Monday, the workers went on strike. The strike affecting 36 ports is the first by the union since 1977.
Workers began picketing at the Port of Philadelphia shortly after midnight, walking in a circle at a rail crossing outside the port and chanting “No work without a fair contract.”
--GRA
POST-BOMBING ANALYSIS OF IRAN'S MISSILE ATTACK ON ISRAEL TODAY
ReplyDelete(ZH)Prime Minister Netanyahu says Iran made a big mistake tonight and will pay for it.
Common estimates show the attack on Israel involved at least 180 ballistic missiles. The Pentagon says about 200, or about twice the size of the prior April attack.
The waves of launches constituted the largest missile strike on Israel by Iran in history.
IRGC is claiming that 90% of missiles successfully hit their targets in Israel.
There were confirmed strikes on the ground, but no official casualties reported.
Israel's emergency authorities have lifted all restrictions, and people in Tel Aviv have emerged from bomb shelters and returned to the streets.
White House says Iranian attack on Israel apparently "defeated and ineffective".
Sullivan says there will be consequences for the attack, and US is consulting Israel on next steps or a potential response
Axios' Barak Ravid has told CNN that he expects major Israeli retaliation strikes on Iran to come within the next several hours.
Iranian state TV says hypersonic Fatah missiles were used in the attack.
Iran's President on X stated he does not seek war but will face any threat from Israel firmly.
Iran has said it gave no prior warning to US, but it did consult with Russia.
The IDF is vowing to 'strike powerfully' at targets in the Middle East.
--GRA