Jim Willie: China is Trying to Wreck Our Economy

by C Serpa, Grams Gold The western ports of LA and Long Beach Harbor have become parking lots for cargo ships stuck in a “supposed” union dispute stalemate.  The Retail Industry Leaders Association stated the ramifications on the US retail industry: 

“A complete shutdown would be catastrophic, with hundreds of thousands of jobs at risk if America’s supply chain grinds to a halt.”

“A shutdown would not only impact the hundreds of thousands of jobs working directly in America’s transportation supply chain, but the reality is the entire economy would be impacted as exports sit on docks and imports sit in the harbor waiting for manufacturers to build products and retailers to stock shelves.” 

The last time west coast port owners locked out workers, for 10 days in 2002, it was estimated to cost the country a billion dollars per day. The cost today could be twice that, according to some projections.

“A west coast port shutdown would be an economic disaster.”

Jim Willie has his own theory on this situation. In an interview with Paul Sandhu on February 16, 2015:
“The Chinese own port facilities all over the world. What is happening with all the shutdowns at the ports in the United States is that:

The Chinese are trying to wreck the US economy by 
disrupting its supply chain. 
They are not just halting Chinese imports into the US economy, they are halting East Asian (Korean, Japanese) ships.

 All these ships are not unloading.

The reports said that the Chinese owned ports can’t afford the cost of unloading the ships. (Laughter) Then when the longshoremen union saw a slowdown in activity, they didn’t get paid, and became upset. They are on strike for 29 ports. The trucks are lined up , not going anywhere, in about 100 acres of port facilities. The ships are floating at sea, are not entering the ports. Nothing’s happening.

The unions are blaming the port managers and vice versa. Who fired the first shot? It almost doesn’t matter. I look at the threat China made several months ago:

“The only way to drive out the corrupt and evil leadership
 in the United States is to strangle the economy. “  
What better way than the west coast ports?

The Chinese control all those ports, even including Mexico and Canada, Brazil and Australia. Here’s the big upshot: 3.5% of all US dometic product, 1/30th of the entire US economy sees its flow through these ports! 

This reverberates throughout the whole economy. You are going to start seeing the American and Canadian public screaming real soon. How come Walmart is empty? Now the public is going to see in the stores – the shortages . It’s going to be seen in clothing, electronics, housewares. This will be starting in all retail chains, starting in the west. 

This will wake up the public. They’ve got relief in the gasoline price, but they are going to see some deep distress for buying that coveted “CD.” 

The US leaders have been lying about the economy . In the State of the Union, the President said, “We are having a rebound of the economy,” which is an absolute fiction. And now he’s coming before Congress saying that the economy is so strong, that he wants a bigger budget. So they lie about economy, the housing recovering, and you have huge factory orders missed, and all major indicators are horrible and the public is told lies.

There is going to be price inflation, product disruption and social disorder. I think we’re at its edge right now. 

“In an economy that is desperate for any “one-time, non-recurring” item to explain what is now global secular stagnation and economic slowdown, an excuse such as a port strike, or a harsh winter, or a strong dollar, or plunging crude, may be precisely the scapegoat that the central-planning doctor ordered.

So while the world awaits to see if the US economy will be slammed with the estimated 3.5%, or more, growth slowdown which could well result in a recession for the US as soon as this summer (recall that the 29 affected ports handle nearly half of all U.S. maritime trade and more than 70 percent of imports from Asia) the congestion has already rippled through the U.S. commercial supply chain, disrupting deliveries of a wide range of goods, from agricultural produce to housewares and apparel,” states Zerohedge.
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