Corporate media fear rail strike as major unions close contracts | Techy Kings

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About half of all U.S. railroad companies are voting on a contract brokered by the Biden administration to prevent a strike in September. The two largest rail unions, BLET and SMART-TD, delayed their votes until November and extended their strike deadline to December 9. The result of the vote is expected to be announced on Monday.

Three of the 12 railroad unions have rejected their deals, while seven of the smaller unions have reportedly approved their contracts. Even if only one union were to go on strike, all others are expected to respect picket lines, bringing the bulk of US rail transportation to a halt.

The potential for a rail strike, which the Biden administration, railroad companies and union leaders have been adamant about avoiding, has thrown the corporate media into a frenzy of concern. Across the country, major media outlets are suddenly raising the specter of a rail strike and the disruption it would cause to corporate profits.

Railroad workers and community members in Baltimore are protesting the Biden administration’s contract proposal. [Photo: WSWS]

Several outlets have cited estimates of a loss of $2 billion a day in economic activity, with CNBC warning that the US economy was “at risk”. In an attempt to scare an American population suffering from runaway inflation, CNBC quoted Jon Gold, vice president of supply chain and customs policy for the National Retail Federation, as saying, “A railroad strike in December would potentially affect holiday goods, as well as shipping. for spring goods that retailers are already starting to take in.”

CNBC further expanded on the economic costs by citing a report by the American Chemistry Council, which estimated a “month-long strike resulting in a total hit to the economy of $160 billion, or one percentage point of GDP, and [a] rise in a key inflation index, the producer price index, of 4%.”

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