The -50% Port Strike, Inflation, & Recession.
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- เผยแพร่เมื่อ 29 ก.ย. 2024
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- A potential port strike starting October 1st could severely impact the US economy just before the critical holiday shopping season and the 2024 election.
- The strike involves 45,000 dock workers across 36 ports from Maine to Texas, affecting roughly 50% of US seaborne imports.
- Estimates suggest the strike could reduce GDP growth by 1% in 50 days, with significant implications for inflation and stock markets.
- The strike is driven by concerns over automation and demands for higher pay raises, amid already strained shipping margins due to global economic conditions.
- Previous strikes and historical context, like the introduction of container shipping in the 1950s, highlight long-term industry impacts despite initial job displacement fears.
- The Biden administration has no current plans to intervene using the Taft-Hartley Act, historically used by presidents to end such strikes, potentially leading to prolonged economic disruption.
- Potential impacts of the strike include increased air and rail freight costs, with implications for company margins rather than direct consumer price inflation.
- Longer strikes through the election and holiday season could exacerbate economic challenges, particularly for retailers and industries reliant on timely shipments.
- While a prolonged strike could lead to market volatility and margin pressures for companies, it's unlikely to directly cause consumer price inflation, focusing instead on higher costs for shipping and logistics.
- Conclusion: The strike's potential economic impacts include margin pressures for companies and potential market volatility, with longer strikes posing greater risks as the holiday season approaches.
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#meetkevin #biden #trump
![PREPARE for Powell's Surprise Speech Tomorrow [Federal Reserve].](http://i.ytimg.com/vi/tuEDoa9qL4E/mqdefault.jpg)
Stop using the term black swan. A black swan is a 6 sigma event. A port strike is definitely not six sigma lol.
Six Sigma is the morning after Taco Bell.
bro is a clown 🤡 or what
Black swan is an unknown event
Port Strike, 3rd worst thing that could happen in the world. 1. Another Pandemic 2. World War 3. Anything Resulting in Cutting off Global Trade
It’s also very racist
I work by port elizabeth nj. it is dead here
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This is the typical thinking of those managing their portfolios solo. I encourage you to seek guidance for more strategic portfolio decisions.
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Simply search for her name, and you’ll find all the details needed to organize a meeting.
KAMALA= INFLATION....., TRUMPTY DUMBTY= HYPERINFLATION.
Sky falling sky falling sell all stocks!!! - Not. Another Kevin’s doomsday video
Seems like a good time to sell when we are all up a lot?
The union and company negotiatiors haven't met for 3 months. This will be entertaining.
Wow Jim, so tomorrow you're going to be bullish? "Bullish AF, the FED let out a fart, time to buy!!!"
This country is done Kevin short everything
You misspelled snort.
Have to blame inflation on something
This is why unions are terrible for the USA
Bann unions
Wow, I'm the first view. I feel honored!
Free coupon code😂
Free Coupon Code
Come on Kevin!!!
Biden is not going to do anything. 😢
Ice Cream
Except make things worse
@@MichaelJordan-jz7kw exactly, 😂 Biden is searching for his Ice Cream 🍦
@@Zygote1205 Yup 💯
You mean Kamala won’t do anything 😂.
Who thinks Harris is 1000X worse than Biden
Once the government becomes as corrupt as it is now all this debating policy is pointless. The level of manipulation and juicing of the economy with borrowed government money ( which you will have to pay down for ever and ever in tax or inflation or both) makes it difficult analyze except for the fact that eventually there will be a catastrophic collapse.
Taxing the rich would actually pay the debt of the usa imagine the billions of dolars we could get on unrealized gains
I don't know Biden is pretty bad
I already suspected it, but after the Biden-Trump debate, it was very clear to me that the Obamas and Clintons have been running the country for the last four years. Not Joe Biden. And they will be running the country for the next four years if Kamala is elected president.
I believe the Clintons and the Obamas have been running the country for the last four years, not Joe Biden. And if Kamala is elected, I believe they will continue to run it. Kamala will just be the face of it all.
Next video: “I’m bullish and going all in the market with ATH’s!” ….
😂
Do these port dudes not understand ai and robotics already replaced entire ports in Asia and Europe , strikes like this only end with automation
Good. More bots
More bots yay ~ AI
Yeah, that's why it's a money grab to get all they can before it happens. Are they just supposed to sit there as their salary declines and jobs fade away? The strike isn't causing automation, it's already there being done, which is why they are concerned.
Stock holders will not allow companies like Walmart to eat the rising cost of getting inventory. Prices will go up and we will be right back where we were with high inflation and the FED will have to raise rates again.
A port strike has zero if any affect on Tesla. In North America, Tesla transports new vehicles via rail and truck carriers from Fremont and Austin. It will however, raise costs of shipping and production for Teslas competitors who import/export via international shipping and are less vertical in their non domestic supply chains. Win or Tesla and the stick is up today.
The consumer will always pay more because they dont have a choice
They do the work. They deserve the money.
dude, they go on strike and hold the country hostage every other year. You have guys just taking advantage of the system and a lot of them are making stupid money for nothing. I believe in fair wages, but this is getting out of hand. They got what they wanted a few years ago... I don't understand why it keeps happening.
YEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEHAAAAAAAAAAAAAAAW
Well the work they do is the result of hundreds of millions of dollars in infrastructure at each port. The union didn't pay for the waterfront land, cranes, a hundred acres of paved storage lot etc.
That’s union that has a starting pay 100k plus benefits out of high school worry that they are getting screwed😂😂😂. When I graduated with my logistics degree and started as a manager of those workers with 50k salary and they were at 40-50% above it I didn’t think that I needed to strike. Work harder yes but this whole relationship is about getting paid for doing minimal labor
omg su
If there is no strike, that inventory buildup could lead to some big pre- and post-Christmas sales!
Lack of interest by administration signals they want, and possibly are causing, this port strike.Possibly to cause chaos, probably to pose as saviors when they come in and settle strike.
The don't sue me bro vest is rich from a guy who is stealing people's money everyday lol
That’s the biggest reason they are trying to automate, is due to there high wages
I don't know why we'd do that. I love a country the size of the US being held hostage by 45,000 dock workers using our push over Alzheimer in chief to get raises at will.
Maybe AI will suddenly start working and stop being hype fraud? Or not.
Asking for a substantial raise in this kind of economy is wild
Nobody should have this amount of power. Replace them with the robots, have good day now.
Maybe this is why Powell is coming out to speak? Idk.
its not first strik in 50 years. In 2019 port of New Jersey were on srike for 2 or 3 weeks
For workers its not a huge problem that won't get paid for those days - AVERAGE port workers salary including overtime pay is OVER $200k/year, for supervisers it's over $300k
I think the workers do actually get paid. At least some unions do this.. they have a "strike fund" that continues to pay striking workers for a period of time.
@jonathantaylor6926 it's depend on union. UAW paying $750/week, Boing's union pays $250/week after first 2 weeks of non-paid strike
lol those salary # are the corporations that pay the media to write that bogus pieces so they have a upper hand at the negotiations table. And to sway the public against the union.
Bro your previous video with Glass screen was good. Pure professional.
This studio give me feeling of " a influencer who don't the stuff just betting on randomness"
I have been following you for 6 month.
I know you know the stuff
But still, impressions
Air cargo rates while Boeing is on strike as well 😂
Kevin, you know that Union workers striking will happen when the Corperates don't come up with fair negotiation. It's so simple, just seriusly do so. That's what happen to hotels Union workers as well. All greedy corperates wanna take away workers' healthcare and pension which are long established in the contract. You have not even bother to talk about wages increase yet. (look at all these companies' stock price, they make huge profit since the pandemic, but still use the event to treat workers by creating artificial reason to get away from offer service and amenity to the guests and cut down the full-time workers.) America is a broken system!
Unsure how raising your employers costs will prevent automation.
Imagine being an employee but thinking you should tell your boss what to do.
That everything has to be upside down is exhausting. Can’t we have even one thing be logical? No wonder geniuses become farmers.
How about making a video about the impact of Hurricane Helene ? the damages across 5 states?!
@@wendyp9091 just watch the news
By the way, we have been in a trucking recession for a while. We have had too many truck drivers since our last backup that we had at the ports, so we have laid off many truckers from the industry and now we are under prepared. Not to mention trucking companies that are hanging on by a thread who might go under because of the ports strike. This will create a major ripple effect.
Why doesn't our uniparty advocate for automation instead of destructive acts like open borders for cheap labor, or is that manufacturing consent?
ILA sure not helping themselves in the case against automation. 77%? No desire to negotiate? This is a long term big brain play by the shipping companies to speed up automation.
Meet kevin i think of you as the older brother i wish i had
I don't think you know what a black swan event is. It's a huge event that's completely unexpected. Not a port strike.
Strike 10/1, 10/2, 10/3 good faith agreement to be back to work 10/4. After that....who knows.
0:23 "Have they done it before?". Nope, they never did it before, ports have been closed since the strike of 1910 and we've never recovered!
A lot of jobs are going to be replaced by automation and AI. What would happen if everyone went on strike 😅😂
Fast food workers need to go back to 15 a hour and there raises should go to these people
minimum wage should be $50 hour adjusted for inflation. The quality of life has degraded 15 fold because of uncontrolled spending since the dollar decoupled from the gold standard. Kicking people into a $15 /hour box is not the answer. The system needs to be changed, and inflaion should be under control...we need to get back on the silver or godl standard, and stop this insanity of devaluing peoples money.
Glad to hear you and Lauren haven't got a chance to try that life insurance out yet, that's great news 💯
there have been 27 black swans in the past 3 years and it only meant new market highs
Innovation will be a replacement of the labor market.
@@exit07 No UBI 4 U 😂
Trump needs to stay out of it and let Kamala fight it out with good ol Joe. 😂
Does meet Kevin understand that there will always be recessions?
But who has the biggest PP to pass those cost down to the consumer?
We need these good paying middle class jobs. These men and women handle billions of dollars of goods in and out of the country every day. They deserve a raise and they absolutely deserve to have their jobs protected from automation.
how you going to protect jobs from automation go back to stone age? increase in production should reflect an increase in pay
They deserve their money. They work a important difficulty and dangerous job they deserve to make their money. I honestly hate corporations. They give CEOs millions and pay worked as little as they can
Lol you obviously have never been to a port. Their work isn’t easy but they sit around and don’t do sh8t if they don’t have to and they salaries START at 100k out of high school. They don’t need a pay raise and because they’re union they know they can sit around and do whatever they want. A lot of union guys at the port at lazy jerks at least from my experience with people that know them. I own a trucking company and talk to a lot drivers and port workers that hate union guys.
Everyone will know Harold Daggett in the next week.
As much as you hate unions. You don’t hate them enough.
Higher wages will speed up automation adoption
ahh yes. the borat,,, "wa wa we wa"
How can the president make people go to work? What if they just don’t go to work?
That's what dems want
The port strike is particularly interesting. Who are the player’s in this game. Is it international?
Yes. USMX is topped by foreign owners.
I tried to buy a stelanits put Friday and Robin hood said no
70% increase in pay..lmao!!
Here comes the flip flop again
Plus...BOEING STRIKE
I want to sell my Toyota Rav 4 soon, I wonder if I will get more for it because there might be a shortage shipped in?
not sure how many rav4 are there on lots. but there’s a massive inventory of vehicles for sale rn. so not sure
@@garrettbewsy144 yeah, but I think Toyota still has the lowest inventory because they on purpose reduced their shipments..
How bad will (COST) get affected by this port strike?
50% of all goods
6:54 Tetris is a verb now!
It’ll be interesting to see the reactions of both parties over the general idea of a strike. Trump could either use this as an opportunity to prove he cares about workers, or double down on the thinking that people who strike deserve to lose their jobs.
The Los Angeles/Long Beach ports(largest port in the united states) were closed for 2 days last week because of the Lithium-ion battery fire and nothing happened. I think we will be fine even if they strike for 3 days.
Your comments on job growth at Docks is disingenuous. The population was 150 million in the 1950s, and now is 330 million. You had 40,000 workers and now have 60,000. You have 50% more dock workers servicing over 100% more americans. This does not take into account how much more we import now compared to then. You have substantially less dock workers now, than you would have if containers weren't implemented. I fully agree with use of containers, but don't like the use of misleading numbers to make your argument.
Wouldn't companies that have a large amount of inventory actually benefit from this? They could charge more and sell the same amount, and make more profit if they had inventory to meet demand. In fact, they might sell more if people rush to buy extra in anticipation of shortages. One could even suggest certain people might want this to clear out inventories before a recession so they don't have to slash prices.
Who is Biden again?
They are going to stop working at 2 pm today at Port newark, NJ They are holding all the truck drivers now.
Is Biden still alive
“Economic hell” now that’s hilarious
🤔 I thought we were already in Hell…….
yes it will increase rail traffic. but i have seen this before where it over whelms the system and cause tremendous stress on dispatch. derailments and train wrecks increase and the whole system goes into gridlock.
The consumer always pays the bills for higher good, the companies wont just eat the cost if shipping goes up
I love your videos Kevin. But this one day before the strike? Behind the curve on this. They will strike, no doubt.
staying away from US stocks for right now and looking to buy dips on chinese stocks
Wrong again! 😅
what stocks would be heavily affected by this? Amazon puts maybe?
BIDENOMICS
th-cam.com/video/ZRBlgfzXiNM/w-d-xo.html
Good time to be a scab. I'd drive to philly for $30+ per hour.
Wow wow we wah
Why would you have striking benefits, that would only help them strike longer
How can the government for the union workers back to work? What if they refuse?
Short the Panama Canal , it’s all going down . Kevin’s long on the canal just not right now
These things should never happen ever. Have lots of time to address and fix any issues.
Did you somehow just forget that Biden stopped the Railroad strike????
💯💪#tnooa stands in support no #truckers should cross the lines should #ila strike -
im a doc worker in portugal 8 years now and i don make 40k.......
you forgot when Ragean fired all air traffic controllers
Food ? Will this affect food supply and or pricing
Kevin watched borat before making this video
👍👍👍
Who has a good video that discusses what the strike is about?
Workers of the World, Unite!
Investors have to understand that introduction of new innovations can be very disruptive for workers. Workers need the work to feed families. If workers do not earn, they do not spend. Henry Ford understood this well.
The labor market needs time to adapt to the innovations so that the change can be easily absorbed, otherwise backlash will come.
Forcing workers to come back to work will only cause a political backlash and the US is at the verge of a major election. Biden will never sign it because if it does, Democrats will loose the elections.
Workers talk, greedy CEO’s/economy walks …
Yet another possible black swan!
Bidenomics works wonders
Very informative thanks Meet Kevin
Interesting timing for a port strike
All in on $ZIM the port strike stock
Blame it on Trump for these! lol
Hey look...It's Mr FEAR 😨!!!!!!
Kevin sucked in to fake crisis…