Economic shockwaves and empty shelves as railroad strikes are brewing. A new development could affect American pocketbooks in a major way. It’s a railroad strike that would send shock waves through the economy if it’s not averted.
More than 100,000 railroad workers are threatening to walk off their jobs this week over worker pay, health care, and other issues.
Unions are now negotiating with the nation’s biggest freight railroads, including Union Pacific, CSX, Norfolk Southern, BNSF, and Kansas City Southern, and have announced eight of the 13 tentative agreements needed to avert a strike.
If a deal is not made, passenger service, supply chains, and jobs could be affected, costing the economy an estimated $2 billion daily.
Suzanne Clark, the head of the U.S. Chamber of Commerce, said Monday that “a national rail strike would be an economic disaster freezing the flow of goods, emptying shelves, shuttering workplaces, and raising prices for families and businesses alike.”
The impact on the supply chain would be huge because trains transport 28% of all U.S. freight. “Half of that traffic moves bulk commodities, particularly food, energy, chemicals, metals, and wood products, as well as automobiles and industrial parts.
The other 50% consists mostly of shipping containers carrying smaller consumer goods,” the financial news outlet reports.
The deadline for a deal to be made is Friday at 12:01 AM Eastern
Hebrews 13:5 Let your conversation be without covetousness; and be content with such things as ye have: for he hath said, I will never leave thee, nor forsake thee.
Matthew 6:19 Lay not up for yourselves treasures upon earth, where moth and rust doth corrupt, and where thieves break through and steal:
Matthew 6:20 But lay up for yourselves treasures in heaven, where neither moth nor rust doth corrupt, and where thieves do not break through nor steal:
Matthew 6:21 For where your treasure is, there will your heart be also.
Matthew 6:24 No man can serve two masters: for either he will hate the one, and love the other; or else he will hold to the one, and despise the other. Ye cannot serve God and money.
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