With the port disputes creating major problems on both the east and west coasts of the United States, today King World News is featuring a piece that issues a dire warning about the consequences this will have for the future, including further economic collapse.
Do Major Port Disuptes Signal A Collapse Is Near?
February 19 (King World News) – I have so many friends in the business who are complaining about all their containers stuck at the port. They can't deliver goods to their clients such as Walmart, Target, Amazon, Overstock, Ebay, etc. Everybody has come to a complete halt.
Major U.S. Port disputes, protests, slow downs, lock downs and strikes have occurred in 1971-1972, 2001-2002, 2007-2008.
Soon after the peaks and port issues, the markets collapsed (see stunning chart below).
S&P Annualized Returns, January 1 to December 31
1973 -17.37% (loss)
1974 -29.63% (loss)
- – – – -
2001 -13.04% (loss)
2002 -23.37% (loss)
- – – – -
2008 -38.49% (loss)
- – – – -
2015 ?
2016 ?
Lee, who has worked in the import/export business for 30 years, also warned: "And as in the past, once the dispute ends, retailers and wholesalers are overloaded with goods that will no longer be in demand because economic activity will have collapsed. This will have dire consequences by creating massive losses and weaker economic activity in the United States."
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