How will the Port Strike impact the US economy?

[Noah Bacon]

I haven't seen a discussion about this on the forums yet, and figured I'd start the conversation.

In case you missed the news this week, billions in trade came to a screeching halt at U.S. East Coast and Gulf Coast ports after members of the International Longshoremen’s Association, or ILA, began walking off the job after 12:01 a.m. ET on Tuesday. The ILA is North America’s largest longshoremen’s union, with roughly 50,000 of its 85,000 members making good on the threat to strike at 14 major ports subject to a just-expired master contract with the United States Maritime Alliance, or USMX, and picketing workers beginning to appear at ports.

I have been reading that if the strike drags on, we can expect some shortages on perishable items that the US imports.

One of those is bananas; the US imports 100% of its supply. More than half of banana imports, America’s most popular fruit by volume, comes in through the ports being struck as of Tuesday morning, according to the American Farm Bureau Federation.

Other items I have read that are at risk are: cherries, cocoa, sugar, imported wine, beer and hard liquor.

In the spirit of the strike impacting more than just materials and labor directly correlated to real estate, I intentionally posted this in "Off Topic" as I want to get a better understanding of what your concerns are with an ongoing strike.

Are you anticipating another spike in inflation? Are there goods you are worried that you won't have access to on time?

[Chris Seveney]

Quote from @Bill B.:

It was certainly timed perfectly to screw over the hurricane victims with zero concern for their life or well being. Taking advantage of a natural disaster to get yourself a pay raise, classic union tactic. 

Ps. I love that their big demand is less automation. How else can they strike and demand higher pay if you replace them. 

Not for or against the strike, but it was not timed intentionally. The contract expired which is why they were striking. the storm happened to hit at the same time, no difference than any other union like sports leagues etc., they strike when the contract expires. 

Similar to most knowing interest rates were getting cut, most companies knew this was coming and prepared for it. While perishable foods may increase in price, I do not think it will have a major impact on inflation if it is a short strike. If this drags on then yes the longer it drags on the more impact it will have on the economy. I think its more a wait and see. 

I am not running out to the store panic buying like people do when we get 1" of snow. At this time I am not worried at all.