(The Epoch Times)—As the threat of a port strike looms over the U.S. East and Gulf Coasts, warnings from industry leaders, businesses, lawmakers, and others have grown louder, all echoing the same concern—potentially massive disruption to a significant portion of the nation’s trade, with billions in economic losses expected daily.
At the heart of the issue is a labor dispute between the International Longshoremen’s Association (ILA), representing 45,000 dockworkers, and the U.S. Maritime Alliance (USMX), which oversees port operations. With negotiations deadlocked and the ILA threatening to strike on Oct. 1 and close 36 ports that handle over half of America’s ocean trade, the potential fallout could be far-reaching.
From consumer goods to critical industrial components, the labor action could cripple key supply chains, according to the National Association of Manufacturers (NAM), which warned that a potential strike would halt operations at ports that handle over 68 percent of the nation’s containerized exports and 56 percent of imports, with an estimated daily trade value exceeding $2.1 billion.
Jay Timmons, NAM president and CEO, urged the White House to take immediate action as the strike deadline looms increasingly larger.
“If workers at East and Gulf Coast ports strike on Oct. 1, manufacturing supply chains will be thrown into disarray,” Timmons said in a statement on Sept. 27. “The Biden administration must step in to ensure we can keep the ports open and avoid disruptions to billions of dollars of goods that families rely on every day.”
This sentiment is shared by a growing number of businesses, industry groups, and lawmakers, all of whom fear the wide-reaching economic damage that could ensue if the strike moves forward.
Neil Bradley, Chief Policy Officer at the U.S. Chamber of Commerce, warned that a port strike would have “a devastating economic impact, crippling major supply chains and cutting off the flow of numerous goods American consumers and businesses rely on every day” while urging the Biden administration, Congress, and all relevant parties to pursue negotiations until a deal is reached.
Bradley cited the impact of a similar 2002 disruption, which was estimated to have cost the economy $1 billion per day and took six months to recover from.
Costco’s CEO Ron Vachris said on the company’s Sept. 26 fourth-quarter earnings call that the company has been preparing for the potential strike for some time in an effort to minimize disruption.
“We’ve cleared the ports, we’ve preshipped. We’ve done several different things to get holiday goods in ahead of this time frame,” Vachris explained. While acknowledging that the strike could be disruptive, he noted that Costco has “looked at alternate plans” and remains focused on mitigating the impact, though the full extent will depend on how long the strike lasts.
Ryan Petersen, the CEO of logistics company Flexport, warned that a worst-case scenario of a strike lasting more than several weeks or even months could create “massive risks” for America’s economy.
“Rerouted shipments could overwhelm West Coast ports, creating container pile-ups, chassis shortages, skyrocketing transport costs, rail congestion, and an air freight market that’s already stretched thin,” Petersen wrote last week in a series of posts on social media.
Rep. Marjorie Taylor Greene (R-Ga.) said in a statement on Sept. 27 that the strike could have catastrophic consequences for the U.S. economy, potentially crippling supply chains and leaving “store shelves bare.”
Greene noted the broader economic context, saying that soaring inflation in recent years has squeezed U.S. households and that a port strike threatens to fan the flames of inflation.
“I think this situation is serious and could be a crisis going into the election, holidays, and winter—depending on if they strike and how long it lasts,” she wrote. “Retailers have been trying to stock up in preparation, but it’s always smart to be personally prepared just in case.”
Sen. Bill Cassidy (R-La.), ranking member of the Senate Health, Education, Labor, and Pensions (HELP) Committee, wrote a letter to President Joe Biden and Vice President Kamala Harris on Sept. 24, calling on them to use the powers available under the Taft-Hartley Act to prevent the strike. The law allows the president to request a court order to delay strikes that threaten national safety or health.
The Biden administration has been urging both parties to continue negotiations.
Top officials, including Transportation Secretary Pete Buttigieg and Acting Labor Secretary Julie Su, have also urged both sides to negotiate in good faith, a White House official told Reuters on Friday.
Five Things New “Preppers” Forget When Getting Ready for Bad Times Ahead
The preparedness community is growing faster than it has in decades. Even during peak times such as Y2K, the economic downturn of 2008, and Covid, the vast majority of Americans made sure they had plenty of toilet paper but didn’t really stockpile anything else.
Things have changed. There’s a growing anxiety in this presidential election year that has prompted more Americans to get prepared for crazy events in the future. Some of it is being driven by fearmongers, but there are valid concerns with the economy, food supply, pharmaceuticals, the energy grid, and mass rioting that have pushed average Americans into “prepper” mode.
There are degrees of preparedness. One does not have to be a full-blown “doomsday prepper” living off-grid in a secure Montana bunker in order to be ahead of the curve. In many ways, preparedness isn’t about being able to perfectly handle every conceivable situation. It’s about being less dependent on government for as long as possible. Those who have proper “preps” will not be waiting for FEMA to distribute emergency supplies to the desperate masses.
Below are five things people new to preparedness (and sometimes even those with experience) often forget as they get ready. All five are common sense notions that do not rely on doomsday in order to be useful. It may be nice to own a tank during the apocalypse but there’s not much you can do with it until things get really crazy. The recommendations below can have places in the lives of average Americans whether doomsday comes or not.
Note: The information provided by this publication or any related communications is for informational purposes only and should not be considered as financial advice. We do not provide personalized investment, financial, or legal advice.
Secured Wealth
Whether in the bank or held in a retirement account, most Americans feel that their life’s savings is relatively secure. At least they did until the last couple of years when de-banking, geopolitical turmoil, and the threat of Central Bank Digital Currencies reared their ugly heads.
It behooves Americans to diversify their holdings. If there’s a triggering event or series of events that cripple the financial systems or devalue the U.S. Dollar, wealth can evaporate quickly. To hedge against potential turmoil, many Americans are looking in two directions: Crypto and physical precious metals.
There are huge advantages to cryptocurrencies, but there are also inherent risks because “virtual” money can become challenging to spend. Add in the push by central banks and governments to regulate or even replace cryptocurrencies with their own versions they control and the risks amplify. There’s nothing wrong with cryptocurrencies today but things can change rapidly.
As for physical precious metals, many Americans pay cash to keep plenty on hand in their safe. Rolling over or transferring retirement accounts into self-directed IRAs is also a popular option, but there are caveats. It can often take weeks or even months to get the gold and silver shipped if the owner chooses to close their account. This is why Genesis Gold Group stands out. Their relationship with the depositories allows for rapid closure and shipping, often in less than 10 days from the time the account holder makes their move. This can come in handy if things appear to be heading south.
Lots of Potable Water
One of the biggest shocks that hit new preppers is understanding how much potable water they need in order to survive. Experts claim one gallon of water per person per day is necessary. Even the most conservative estimates put it at over half-a-gallon. That means that for a family of four, they’ll need around 120 gallons of water to survive for a month if the taps turn off and the stores empty out.
Being near a fresh water source, whether it’s a river, lake, or well, is a best practice among experienced preppers. It’s necessary to have a water filter as well, even if the taps are still working. Many refuse to drink tap water even when there is no emergency. Berkey was our previous favorite but they’re under attack from regulators so the Alexapure systems are solid replacements.
For those in the city or away from fresh water sources, storage is the best option. This can be challenging because proper water storage containers take up a lot of room and are difficult to move if the need arises. For “bug in” situations, having a larger container that stores hundreds or even thousands of gallons is better than stacking 1-5 gallon containers. Unfortunately, they won’t be easily transportable and they can cost a lot to install.
Water is critical. If chaos erupts and water infrastructure is compromised, having a large backup supply can be lifesaving.
Pharmaceuticals and Medical Supplies
There are multiple threats specific to the medical supply chain. With Chinese and Indian imports accounting for over 90% of pharmaceutical ingredients in the United States, deteriorating relations could make it impossible to get the medicines and antibiotics many of us need.
Stocking up many prescription medications can be hard. Doctors generally do not like to prescribe large batches of drugs even if they are shelf-stable for extended periods of time. It is a best practice to ask your doctor if they can prescribe a larger amount. Today, some are sympathetic to concerns about pharmacies running out or becoming inaccessible. Tell them your concerns. It’s worth a shot. The worst they can do is say no.
If your doctor is unwilling to help you stock up on medicines, then Jase Medical is a good alternative. Through telehealth, they can prescribe daily meds or antibiotics that are shipped to your door. As proponents of medical freedom, they empathize with those who want to have enough medical supplies on hand in case things go wrong.
Energy Sources
The vast majority of Americans are locked into the grid. This has proven to be a massive liability when the grid goes down. Unfortunately, there are no inexpensive remedies.
Those living off-grid had to either spend a lot of money or effort (or both) to get their alternative energy sources like solar set up. For those who do not want to go so far, it’s still a best practice to have backup power sources. Diesel generators and portable solar panels are the two most popular, and while they’re not inexpensive they are not out of reach of most Americans who are concerned about being without power for extended periods of time.
Natural gas is another necessity for many, but that’s far more challenging to replace. Having alternatives for heating and cooking that can be powered if gas and electric grids go down is important. Have a backup for items that require power such as manual can openers. If you’re stuck eating canned foods for a while and all you have is an electric opener, you’ll have problems.
Don’t Forget the Protein
When most think about “prepping,” they think about their food supply. More Americans are turning to gardening and homesteading as ways to produce their own food. Others are working with local farmers and ranchers to purchase directly from the sources. This is a good idea whether doomsday comes or not, but it’s particularly important if the food supply chain is broken.
Most grocery stores have about one to two weeks worth of food, as do most American households. Grocers rely heavily on truckers to receive their ongoing shipments. In a crisis, the current process can fail. It behooves Americans for multiple reasons to localize their food purchases as much as possible.
Long-term storage is another popular option. Canned foods, MREs, and freeze dried meals are selling out quickly even as prices rise. But one component that is conspicuously absent in shelf-stable food is high-quality protein. Most survival food companies offer low quality “protein buckets” or cans of meat, but they are often barely edible.
Prepper All-Naturals offers premium cuts of steak that have been cooked sous vide and freeze dried to give them a 25-year shelf life. They offer Ribeye, NY Strip, and Tenderloin among others.
Having buckets of beans and rice is a good start, but keeping a solid supply of high-quality protein isn’t just healthier. It can help a family maintain normalcy through crises.
Prepare Without Fear
With all the challenges we face as Americans today, it can be emotionally draining. Citizens are scared and there’s nothing irrational about their concerns. Being prepared and making lifestyle changes to secure necessities can go a long way toward overcoming the fears that plague us. We should hope and pray for the best but prepare for the worst. And if the worst does come, then knowing we did what we could to be ready for it will help us face those challenges with confidence.
