Stuart Varney: Biden’s refusal to block looming port strike could cause inflation
Host of Varney & Co. Stuart Varney discusses what the impending US ports strike means for the US economy.
During “My Take,” Monday, “Varney & Co.” Broadcaster Stuart Varney discussed the impending US port strike by union workers from Texas to Maine that will reportedly cause a shortage of fruits and vegetables, cost $4 billion to $5 billion a day, and likely last for weeks.
STUART VARNEY: The port strike is expected to start tomorrow. President Biden he says he will not participate.
You’ll be hearing reports of shortages of fruits and vegetables and gift items during the holidays.
PORT STRIKE WILL BRING FARMERS SOMETHING, SAYS FORMER TRUMP OFFICIAL.
This strike, if it continues for days or weeks, will be very expensive. $4 to $5 billion a day, according to Wall Street.
The cargo ship AS Savanna docks at Port Miami in Miami, Florida. (Photo by Joe Raedle/Getty Images / Getty Images)
Let’s dive deeper into this. The strike is about to happen union power when the pro-union president in the White House.
Biden walked the picket line when the auto workers went on strike. They won a lot.
The booth workers are hoping for Biden’s support, and they’re getting it, because Biden won’t run.
LONGSHOREMAN UNION’S DEMAND FOR HIGHER AUTOMATION BANKING IS QUESTIONED AS PORT SRTIKE LAWS
There is a political risk to the president here. He entered the office promising a change in the supply of goods. With a hole strike, that goes out the window.
Look even deeper, and you’ll see that automation is an important issue.
Dock workers resist the injection of computing power into cranes and loading centers because it would cost jobs.
Attorney Jeff Van Drew, RN.J., says potential port strikes across America could really exacerbate supply chain problems in ‘The Evening Edit.’
They want a big pay rise, but the basis of that demand is fear of AI Again, a political risk for Biden.
He wants America to be a technology leader, but he won’t do that if our ports are closed to new technology.
Not surprisingly, China’s ports are very efficient.
American Trucking Association CEO Chris Spear says produce and farmers will be hit first during Maria Bartiromo’s ‘Wall Street’ port strike.
Then there is time. The election is 5 weeks from tomorrow, the day the strike is supposed to start.
The last thing the administration wants to see is sudden inflation and shortages because the president refuses to intervene with the powerful anti-revolutionary union.
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