Business & Politics News and Discussions

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Yuli Ban
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California lawmakers call for a state of emergency at ports, warning of a 'massive crisis with no signs of slowing'
California lawmakers are calling for Governor Gavin Newsom to declare a state of emergency for backlogged ports in Los Angeles and Long Beach.

Eight US representatives, all Republican, signed a letter calling for Newsom to suspend or eliminate regulations for ports, warehouses, and trucking companies in order to combat the supply-chain crisis. The congress members warned the traffic jam that has spawned widespread shortages and price hikes show "no signs of slowing."

"Unfortunately, California's own burdensome laws and regulations that restrict goods from moving to consumers, have contributed to this crisis," the letter said.

US Rep. Michelle Steel, R-California, submitted the letter into the record of a hearing on the supply chain crisis that was hosted by the House Transportation and Infrastructure Committee on Wednesday.

The lawmakers' warning comes a day after the largest ports in the US hit another record, as 179 ships were recorded at the Southern California ports. Nearly 120 ships are waiting off the coast to dock and unload. Before the pandemic, the ports never saw a backlog greater than 17 ships.
The global supply chain is out of control
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erowind
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The solution is to either dredge other ports to open up more capacity, or, to lower consumer demand. Ideally both. It is unacceptable to make workers toil overnight in unsafe conditions so that some jackass in kansas can have his funko pop.

Consumer demand is actually higher now than it was before the pandemic. Our population hasn’t grown *that* much.

https://fred.stlouisfed.org/series/PCE
weatheriscool
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Amazon workers plan Black Friday strikes
Source: BBC

Amazon workers in 20 countries - including the US, UK, and several in the EU - are planning protests and work stoppages on Black Friday. The shopping-centric day is among Amazon's busiest all year. The Make Amazon Pay group says: "Amazon takes too much and gives back too little." It is backed by a coalition of labour groups, trade unions, grassroots campaigns and non-profit-making organisations in individual countries. No UK Amazon warehouses are unionised, so many employees will be working on the day, with the campaign groups staging protests at Amazon buildings in Coalville, Leicestershire, Coventry, Peterborough and at its London headquarters.

But strikes are being encouraged elsewhere. In Germany, for example, the union Verdi called on employees at major shipping centres to strike, beginning on Wednesday night. Worldwide, nearly 50 organisations have signed up to a list of "common demands", published by the Make Amazon Pay coalition, which include:

- raising warehouse workers' pay and adding hazard pay and peak time increments
- halting worker "surveillance" and strict productivity targets
- extending sick leave and improving Covid-19 tracking and reporting
- ending casual employment status and "union-busting" activities
- paying taxes without using loopholes or tax havens

"This company is a pandemic profiteer can afford to do better," said Mick Rix, from the GMB Union. "It's time for Amazon sit down with their workers' union GMB and make Amazon a great, safe place to work. " Amazon reported a tripling of profits earlier this year, attributed to its success during the Covid-19 pandemic.

Read more: https://www.bbc.com/news/technology-59419572
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Yuli Ban
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Shoppers who woke early to brave the Black Friday lines were in for a surprise.

Crowds were light and almost nonexistent in many stores throughout the Bay Area during what is usually one of the busiest shopping days of the year.

Best Buy in Pleasant Hill usually has lines wrapped around the building but this year only about 30 shoppers awaited the opening.

"I just wanted to hang out with my friends and get that person connection with them," said shopper Cole Smith.

"I wanted to experience Black Friday once in my life, said shopper Otto Steindorf. "I'll probably never do it again to be honest."

Santana Row in San Jose was filled with shoppers. But it was more like a weekend, than the traditional Black Friday shopping throngs.

From retail centers in the south, to those in the north and east, grabbing price-reduced deals doesn’t require camping out all night. Now, people can show-up shortly before opening.

Economist Dr. Brian Marks said, "It’s black Friday, but it’s changed, like life does."
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Yuli Ban
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And remember my friend, future events such as these will affect you in the future
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Yuli Ban
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And remember my friend, future events such as these will affect you in the future
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Yuli Ban
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And remember my friend, future events such as these will affect you in the future
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And remember my friend, future events such as these will affect you in the future
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Vaccine Study Flips Traditional View of Product Scarcity Driving Demand
December 20, 2021

https://www.eurekalert.org/news-releases/938551

Introduction:
(EurekAlert) AMES, Iowa – Anyone who has taken an economics class probably remembers learning about scarcity. The concept of demand outpacing supply applies to the toilet paper shortage at the onset of the COVID-19 pandemic and helps explain how a spike in home-improvement projects last year contributed to skyrocketing lumber prices.

“Previous research on product scarcity shows people will desire something more when it isn’t as easily accessible. Since scarcity signals value, people are willing to make more of an effort or pay more to acquire it,” said Beatriz Pereira, assistant professor of marketing at Iowa State University.

Last year, as COVID-19 cases surged across the U.S., Pereira and a team of researchers knew the initial supply of vaccines would be limited. It seemed like the perfect opportunity to test whether vaccine scarcity drives demand. But the researchers’ newly published findings in Psychology & Marketing reveal the opposite: Participants were less interested in rolling up their sleeves when they thought vaccines were scarce. The researchers point to compassion for the vulnerable as a driving factor.

At the time of the first survey, COVID-19 vaccines were not yet available to the general public.

Over 300 college students were asked to imagine a scenario where manufacturers were working nonstop to produce enough vaccines for everyone, but due to limited supply, priority was being given to people considered high risk. Half of the participants were told that vaccine doses were limited in their area, while the other half were told there were plenty of doses available. The survey then asked both groups of participants the likelihood that they would book a vaccination appointment if their doctor said they could get a shot the following week
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