Massive Port Strike Begins: What You Must Know
The Port strike on the East and Gulf Coasts could cause huge problems in the supply chain. In this video we go over whats going on, how it affects different industries, how it affects you, and more! Enjoy.
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Easy ! We will pay more….then the strike will stop… But we will still be paying more because… Why not ?!?
“It’s because the inflation….” 😂😂😂
We got the same with Covid shortages etc…. Years after that, the prices didn’t go back to normal
I hope it doesn’t unfold this way and corporations don’t use this as an excuse to raise prices forever. But it depends highly on the strike length
That’s GREEDflation. Personally I’d rather have workers get raises then billionaires get dividend increases.
That happens when m2 monetary supply goes up 42% in 5 years
@@humphrey Corporations are nice little club…. And we’re not in it…. 😆
Fourth.
A lot of businesses operate on a just in time model and any disruptions will have severe shortages in goods. It’s gonna make peoples lives a pain in the butt.
Covid broke just in time. Most large companies have bulked up on inventory since then and even more prior to this strike. Short term things will be fine. Medium to long term may be a issue. The real issue is the ultimate just in industry, ships. They are booked month/years out to hop from one port to the next. They are gonna dump cargo in random ports to continue on their schedule
Biggest risk: we take advantage of workers for too long and inequality (with it’s social ills) gets out of hand.
Oops, sorry guys, it’s too late for that… But the workers are working on trying to fix that.
Cant name a single career that gets 77% with a guarantee of employment for 6 years. The attitude, with the timing, makes things hardly sympathetic for the union. The boss makes 900k and wants to cripple America?
Makes automation, more required than ever.
Love the stance of f the car salesman’s job, or the guy in the mall, or you who needs food, we need $5.
That is a terrible way to pitch that publicly.
Union work has served me well. No complaints, great benefits, good pay, paid schooling and so much more. Negotiations help and go a long way. But this is coming from someone who works in construction. There’s always a need for labor as well, let alone they gotta give and take from time to time.
Salary varies depending on scale, it’s different across the country and overtime plays a good part into our salaries.
Oh, it’s a Big Deal! 😮
This is a low skill job that could easily go automated. These guys better be careful what they wish for.
That union leader owns a Bentley, a 76ft Yacht and makes 900k a year. He was acquitted on RICO charges after the main witness against him was found decomposing in a car trunk in NJ. Tells me all I need to know about his motives.
Proof? Names? Dates?
ur going to discount the sentiment of these union members because of this? not focus on the message?
Who will benefit from this?
Literally no one
After working as a casual for many years, a buddy of mine finally got into the longshoreman union in NJ. I think he’s been in it for about 3 years. He’s definitely not making 150k-250k/ yr. I think when he started, he was making around 60k. I have to imagine he’s probably around 70k-ish by now. I can’t imagine he’d see 250k, but 150k is probably reasonable after 20 years or so. I’m sure there are some union fat cats scewing the average, but the median longshoreman is almost certainly not making even that low end of that estimate.
Very helpful. Thank you
Yea they are going to automate the industry real quick
What about the stock market?
Thanks for your insight and clarification, Humphrey!
Will this affect exports or shipments leaving the country as well?
When did we start conflating monetary inflation with price inflation. Let’s not confuse terms here. I don’t believe you explicitly referred to any monetary inflation and simply used the general term” inflation”. You maintain plausible deniability that you may have only referred to price inflation.
I’m aware that you know the difference. It’s important to me that everyone is aware.
Monetary inflation certainly may drive price inflation. However, Price inflation only effects monetary inflation if an entity chooses to inflate the currency as a response to inflated prices. It does not, under any circumstances, directly effect monetary inflation.
Good analysis and discussion Humphrey. Thanks for the update. As an aside, I have little use for unions. They have long ago outgrown their usefulness and intended purpose. They now exist only for the purpose of watching out for their own self interest and expanding their influence and power IMO. I had 2 uncles that were union plumbers all their lives and got little benefit from the years of union membership. When they died, their families basically got the middle finger and were abandoned. As a result, I have little respect for unions.
Utility workers have similar compensation. They often do hazardous jobs and get extra pay there, as well as HUGE overtime pay. Someone who has a base salary of under $100K, can easily go to 150, or even 200K.
No different than the nurses in Chicago that are serving the refugees charging the city over $200K. A lot of it comes from overtime and stuff.
Overtime is really a bad thing in our society today because of how outragous it has become. You can argue all you want for individual workers but at the end of the day it almost hurts everyone else, much like pensions. They aren’t sustainable payouts
They are striking to prevent automation of their jobs as well.
Delaying the inevitable.