A port strike across the U.S. could have severe consequences on the economy, disrupting trade and causing shortages of essential goods. The high cost of living, fueled by mismanagement by the Biden-Harris administration, is a major factor behind the labor unrest.
The failed policies of the Biden-Harris administration have resulted in soaring inflation, labor unrest, and now the potential for a major port strike that could cripple the U.S. economy. The International Longshoremen's Association (ILA) union has directed its 45,000 members to walk off the job, disrupting eastern seaboard ports and causing an estimated $5 billion in losses per day.
The 36 ports on the Gulf and East coasts handle a significant portion of U.S. container traffic and exports, including half of U.S. pork, almost three-quarters of U.S. poultry, and about half of all imported fruits and vegetables. Additionally, nine out of 10 pharmaceutical imports and seven out of 10 exports are affected by the strike.
Port Strike Threatens Supply Chain, Causing Economic Concerns
This labor unrest is primarily driven by the stratospheric rise in the cost of living, which stems directly from the Biden-Harris administration's mismanagement. The administration's runaway federal deficits, fueled by newly created money from the Federal Reserve, have destroyed one-fifth of the dollar's value in less than four years.
Inflation has massively increased both the cost of living and the cost of doing business, leaving no winners but government. Workers are demanding higher wages to combat the sky-high cost of living, while management is desperate to control increases in the cost of doing business, including labor costs.
Port Strike Threatens Supply Chain, Causing Economic Concerns
The Biden-Harris administration has weighed in, siding with the strikers and citing growth in corporate profits as indicative of management's misbehavior. However, corporate profits have increased similarly to families' paychecks, but both buy less, on average, than they did four years ago due to the hidden tax of inflation.
Of all the politicians in Washington, Vice President Kamala Harris bears a disproportionate amount of the blame for inflation. She was the biggest cheerleader of the president's big-government agenda and cast the tie-breaking vote on trillions of dollars in inflationary federal deficit spending.
Port Strike Threatens Supply Chain, Causing Economic Concerns
The potential consequences of a prolonged port strike are severe. It could disrupt supply chains, causing shortages of essential goods and raising prices for consumers. It could also lead to job losses and economic hardship, particularly in industries that rely heavily on international trade.
The Biden-Harris administration's policies have created an environment of economic uncertainty and labor unrest. If public policy continues down the same path, it will mean more inflation, more labor unrest, and evermore disruptive strikes.
